December 31, 2025Cash$45,000Notes payable (short-term)$50,000Receivables$110,000Accounts payable32,000Less: Allowance15,00095,000Accrued liabilities5,000Inventory170,000Common stock (par $5)260,000Prepaid insuranceLand8,000Retained earnings141,00020,000Equipment (net)150,000$488,000$488,000CARVER INC.Income StatementFor the Year Ended December 31, 2025Sales revenue$1,400,000Cost of goods soldInventory, Jan. 1, 2025$200,000Purchases790,000Cost of goods available for sale990,000Inventory, Dec. 31, 2025(170,000)Cost of goods sold820,000Gross profit on salesOperating expensesNet income$580,000170,000$410,000(a)Compute the following ratios or relationships of Carver Inc. Assume that the ending account balances arerepresentative unless the information provided indicates differently. (Round answers to 2 decimal places,e.g. 1.59 or 45.87%.)(1)Current ratio(2) Inventory turnover(3)Accounts receivable turnover(4) Earnings per share(5)Profit margin on sales(6) Return on assets on December 31, 2025timestimestimes$%%

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Answered: Cash $45,000 December 31, 2025 Notes…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 91PSB

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Determine Total Current Liabilities as of December 31, 2023: Select one: a. $27,300 b. $39,900 c. $144,900 d. $132,300 e. $247,350
Item Prior year Current year Accounts payable 8,126.00 7,784.00 Accounts receivable 6,078.00 6,607.00 Accruals 994.00 1,452.00 Cash ??? ??? Common Stock 10,696.00 12,040.00 COGS 12,650.00 18,346.00 Current portion long-term debt 5,031.00 5,088.00 Depreciation expense 2,500 2,797.00 Interest expense 733 417 Inventories 4,240.00 4,781.00 Long-term debt 14,366.00 13,914.00 Net fixed assets 51,539.00 54,520.00 Notes payable 4,323.00 9,909.00 Operating expenses (excl. depr.) 13,977 18,172 Retained earnings 28,408.00 29,699.00 Sales 35,119 45,984.00 Taxes 2,084 2,775 What is the firm's cash flow from financing?
Item Prior year Current year Accounts payable 8,194.00 7,893.00 Accounts receivable 6,066.00 6,786.00 Accruals 977.00 1,572.00 Cash ??? ??? Common Stock 11,869.00 12,264.00 COGS 12,616.00 18,108.00 Current portion long-term debt 5,038.00 5,064.00 Depreciation expense 2,500 2,825.00 Interest expense 733 417 Inventories 4,145.00 4,778.00 Long-term debt 13,680.00 14,055.00 Net fixed assets 50,966.00 54,551.00 Notes payable 4,331.00 9,956.00 Operating expenses (excl. depr.) 13,977 18,172 Retained earnings 28,104.00 29,983.00 Sales 35,119 45,456.00 Taxes 2,084 2,775 What is the firm's net income in the current year? . .
Amount financed 18200 number of payments 72 monthly payment 425.08 finace charge 12405.76 whats the apr%
Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Balance Sheets for 2020 & 2021.
obligation 300,000 100,000 rent income Required: Compute the total current liabilities on December 31, 2020. Problem #2: Multiple Company provided the following information on December 31, 2021: Accounts payable after deducting debit balances in suppliers' accounts of P100,000 Accrued liabilities Note payable - due March 31, 2022 Note payable – due May 1, 2022 Bonds payable – due December 31, 2023 500,000 50,000 1,000,000 800,000 2,000,000 On March 1, 2022 before the 2021 financial statements were issued, the note payable of P1,000,000 was replaced by an 18-month note for the same amount. The entity is considering similar action on the P800,000 note due on May 1, 2022. The financial statements were issued on March 31, 2022. Required: 1. Compute total current liabilities 2. Compute total noncurrent liabilities "Not intended for publication. For classroom instruction purposes only
Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Income Statements for 2020 and 2021 (including dividends paid and retained earnings).
In Set’ Dec. 31, 2020 statement of financial position, how much should be the accounts payable? *see attached a. P 1,410,000b. P 1,485,000c. P 1,462,500d. P 1,425,000
Llon. COmpu Containers at December 31, 2020. ly when piration iration, The Grant Publication sells magazine subscriptions for one to three-year periods. Information relating to sales and expiration are as follows: 1-16. 2020 2019 2018 2017 ata for P7,000,000 Subscription P5,500,000 P5,000,000 P4,500,000 sold Expiring in 2017 P1,000,000 2,800,000 1,200,000 sold P1,200,000 2,000,000 1,300,000 P1,800,000 2,400,000 1,300,000 2018 P2,000,000 2,800,000 2,200,000 d gift 2019 2020 2021 2022 REQUIRED: What is the balance of Unearned Subscriptions Revenue at January 1, 2019? (a) Prepare the entries to record the receipt of the subscriptions and the revenue from magazine subscriptions for years 2019 and 2020. (b) of What is the balance of the Unearned Subscriptions Revenue at December 31, 2019 and at December 31, 2020? (c) and supplemental account balances information were taken from the accounting records of Coolidge Company as of December 31, 2020: selected 1-17. Following P9,675,000 1,300,000…
Question 6 On Octobel 31, 2020, Tarling Company neguiated a one year 100.000-eanc loan kon a f n bank at an intert rate of 3% per yea tont paymen e mae s on Odb 31, nd peincipal wilf be repaid on October 31 2021 Tarling prepares US dolla financial tatoments and han a Deconber 31 year end Date ranc Rate October 31, 2020 30 49 December 31, 2020 S0 55 October 31, 2021 50 65 Required: Assuming the above information Prepare all jounal entries related to thi foreign orency bonowing
MC29 The statement of financial position of Denver Company at December 31, 2020 showed, among others, the following items under its liabilities section: 10% mortgage bond due P500,000 annually beginning October 1, 2021 12% convertible bonds, due on June 30, 2023 (Each P1,000 bond is convertible into 10, P100 par ordinary shares) 10% collateral trust bonds due on July 16, 2022 3,000,000 P2,000,000 1,500,000 How much are Denver Company's total debenture bonds and serial bonds, respectively? P4,500,000 and P2,000,000 P1,500,000 and P2,000,000 P1,500,000 and P3,000,000 PO and P2,000,000 a. b. С. d.
PLUS Kimmel, Financial Accounting, Se Help I System Announcements RCES 10 Brief Exercise 10-12 Presented here are long-term lhability items for Windsor, Inc. at December 31, 2017. Bonds payable (due 2021) $860,000 Notes payable (due 2019) 79,000 Discount on bonds payable 33,000 Prepare the long-term liabilities section of the balance sheet for Windsor, Inc. WINDSOR, INC. Balance Sheet (Partial) %$4 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT INTERACTIVE TUTORIAL Questinh ftengits %24

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