Cash of P14,000 has been set aside to pay taxes due. The cash and taxes payable have been offset and do not appear in the financial statements.
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The following totals are taken from the statement of financial position of Eden Company:
| Current Assets | 350,000 |
| Long-term Assets | 800,000 |
| Current Liabilities | 240,000 |
| Long-term Liabilities | 270,000 |
Additional information:
a. Cash of P38,000 has been placed in a fund for the retirement of long-term debt. The cash and long-term debt have been offset and are not reflected in the financial statements.
b. Long-term assets include P50,000 in treasury shares.
c. Cash of P14,000 has been set aside to pay taxes due. The cash and taxes payable have been offset and do not appear in the financial statements.
d. Advances on salespersons' commissions in the amount of P21;000 have been made. Also, sales commissions payable total P24,000. The net liability of P3,000 is included in Current Liabilities.
1. Adjusted total current liabilities
a. P240,000
b. P254,000
c. P275,000
d. P278,000
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- The following totals are taken from the statement of financial position of Eden Company: Current Assets 350,000 Long-term Assets 800,000 Current Liabilities 240,000 Long-term Liabilities 270,000 Additional information: a. Cash of P38,000 has been placed in a fund for the retirement of long-term debt. The cash and long-term debt have been offset and are not reflected in the financial statements. b. Long-term assets include P50,000 in treasury shares. c. Cash of P14,000 has been set aside to pay taxes due. The cash and taxes payable have been offset and do not appear in the financial statements. d. Advances on salespersons' commissions in the amount of P21;000 have been made. Also, sales commissions payable total P24,000. The net liability of P3,000 is included in Current Liabilities. 1. Adjusted total current assets a. P350,000 b. P364,000 c. P385,000 d. P423,000 2. Adjusted total current liabilities a. P240,000 b. P254,000 c. P275,000 d. P278,000From the following information of Axis Limited compute the Replacement Cost Value / Net Substantial Value Liabilities Equity Share Capital Preference Share Capital Reserves and Surplus Adjustment Long-term Debt Short-term Debt Creditors Amount (Mn$) 2000 1100 800 1400 800 1700 Assets 1100 Debtors 8,900 Fixed Assets Inventories Cash and Bank Balance Amount (Mn$) 4100 2350 1150 1300 8,900The following information relates to Basic Lid. for the year ended 31" December 2021: Net working capital RO. 1.200.000 Fixed assets to proprietor's fund ratio 0.75 Working capital turnover ratio 5 timeg Return on Equity 15% Current liabilities RO. 400.000 Long term Debts 0 You are required to calculate: Proprietor's funds Fixed Assets Current assets Net profit ratio Current ratio
- Category. Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 429,735.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 55,152.00 Interest expense 40,500 42,662.00 Inventories 279,000 288,000 Long-term debt 339,349.00 400,985.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,641.00 Retained earnings 306,000 342,000 Sales 639,000 848,846.00 Тахes 24,750 47,931.00The financial statements of the company 'MPD Development' are given below (all amounts are in euros) and some accounts/funds are omitted (they are with a question mark): Balance sheet of the company 'MPD Development' 31.12.2021 Assets Plots ● Buildings Mechanical equipment Participations in AE Non-current (fixed) assets Stocks Commercial requirements Cash and cash equivalents Current assets Total assets Liability Share capital Result in a new Net worth (Equity) Long-term loan Long-term liabilities Expenses payable Short-term liabilities Total liabilities Total Liabilities Earnings before interest and tax (RTD) (+) Interest on credit (-) Interest debited Earnings before tax (CCP) Income statement 'MTF Development' 31.12.2021 Sales (net) (-) Cost of sales Gross profit (-) Miscellaneous expenses (-) Taxes Net profit 15.000 ; ; 6.250 ; 24.000 Current liabilities / Equity = 0.25 Plots are 2 times larger in value than Buildings ; ; ; ; 20.000 ; ; ; ; ; ; ; ; ; 51.000 ; ; 3.000 0 ; ; Also,…The balance sheet of Koehn, Incorporated, has the following balances: Cash Accounts receivable Inventory Beginning balance $ 30,300 48,200 126,500 611,900 Ending balance 43,200 415,000 $ 32,800 51,600 129,200 574,300 53,600 304,200 Net fixed assets Accounts payable Long-term debt What is the amount of the change in net working capital?
- Analyze the following accounts and satisfy the requirements given below. Accounts payable Accrued expenses Accumulated depreciation Additional paid-in capital Allowance for doubtful accounts Cash Common stock (PO.20 par) Gross accounts receivable Gross fixed assets Inventories Long term debt Net accounts receivable Net fixed assets Retained earnings Short-term bank loan (notes payable) P 39,000 8,000 51,000 86,000 2,000 23,000 45,000 40,000 486,000 54,000 210,000 38,000 435,000 138,000 24,000Grand Company reported the following accounts at the end of reporting period; Petty cash fund 10 000 Payroll fund 100 000 Sinking fund cash 500 000 Sinking fund securities 1 000 000 Accrued interest receivable – sinking fund Securities 50 000 Plant expansion fund 600 000 Cash render value 150 000 Investment in property…Sunland Corporation reports the following information for 2026: Net cash provided by operating activities Average current liabilities Average long-term liabilities Dividends declared Capital expenditures Payments of debt Sunland's cash debt coverage is 1.45. 3.59. 2.52. 3.42. $362500 144000 106000 55000 101000 36000
- Category Accounts payable Accounts receivable Accruals Additional paid in capital Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense Inventories Long-term debt Net fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes Prior Year Current Year ??? ??? 320,715 397,400 40,500 33,750 500,000 541,650 17,500 47,500 94,000 105,000 328,500 431,876.00 33,750 35,000 54,000 54,402.00 40,500 42,823.00 279,000 288,000 339,660.00 398,369.00 946,535 999,000 148,500 162,000 126,000 162,881.00 306,000 342,000 639,000 847,928.00 24,750 47,224.00 What is the current year's return on assets (ROA)? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))The following selected information pertains to Brock Company:Cash balance, January 1, 20x1 P130,000Accounts receivable, January 1, 20x1 190,000Collections from customers in 20x1 2,100,000Capital account balance, January 1, 20x1 380,000Total assets, January 1, 20x1 750,000Additional cash investment, July 1, 20x1 50,000Total assets, December 31, 20x1 1,010,000Cash balance, December 31, 20x1 200,000Accounts receivable, December 31, 20x1 360,000Withdrawals made during 20x1 110,000Total liabilities, December 31, 20x1 410,0007. Net income for the year ended December 31, 20x1When preparing the Statement of Cash Flow using the indirect method for the current year, which of the following statements would describe the proper presentation of a decrease in the Bonds Payable account of $75,000 for which cash of $75,000 was paid to reduce this long-term liability? Group of answer choices Add the $75,000 as Cash received from the payment of the Bonds Payable in the Cash flow from Investing Activities section of the Statement of Cash Flow. Less the $75,000 as Cash paid for the reduction of Bonds Payable in the Cash flow from Investing Activities section of the Statement of Cash Flow. Add the $75,000 as Cash received from the payment of Bonds Payable in the Cash flow from Financing Activities section of the Statement of Cash Flow. Less the $75,000 as Cash paid for the reduction of Bonds Payable in the Cash flow from Financing Activities section of the Statement of Cash Flow.
