Question

Prepare a balance sheet given the following information for Corp. as of December 31, 2014: cash = \$197,000; intangible net fixed assets = \$851,000; accounts payable = \$292,000; accounts receivable = \$257,000; tangible net fixed assets = \$5,140,000; inventory = \$542,000; notes payable = \$185,000; retained earnings = \$4,626,000; long- term debt = \$1,210,000. (Enter your answer as directed, but do not round intermediate calculations.) Balance Sheet (Click to select) $\n(Click to select) (Click to select) (Click to select) $\n(Click to select) Current liabilities $\nCurrent assets $\n(Click to select) Total liabilities $\n(Click to select) $\n(Click to select) (Click to select) (Click to select) Total assets $\nTotal liabilities & owners' equity $ 

          Prepare a balance sheet given the following information for Corp. as of December 31,
2014: cash = \$197,000; intangible net fixed assets = \$851,000; accounts payable =
\$292,000; accounts receivable = \$257,000; tangible net fixed assets = \$5,140,000;
inventory = \$542,000; notes payable = \$185,000; retained earnings = \$4,626,000; long-
term debt = \$1,210,000. (Enter your answer as directed, but do not round intermediate
calculations.)
Balance Sheet
(Click to select)
$\n(Click to select)
(Click to select)
(Click to select)
$\n(Click to select)
Current liabilities
$\nCurrent assets
$\n(Click to select)
Total liabilities
$\n(Click to select)
$\n(Click to select)
(Click to select)
(Click to select)
Total assets
$\nTotal liabilities & owners' equity $
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Prepare a balance sheet given the following information for Corp. as of December 31, 2014: cash = $197,000; intangible net fixed assets = $851,000; accounts payable = $292,000; accounts receivable = $257,000; tangible net fixed assets = $5,140,000; inventory = $542,000; notes payable = $185,000; retained earnings = $4,626,000; long- term debt = $1,210,000. (Enter your answer as directed, but do not round intermediate calculations.) Balance Sheet (Click to select) (Click to select) (Click to select) (Click to select)(Click to select) Current liabilities assets(Click to select) Total liabilities (Click to select)(Click to select) (Click to select) (Click to select) Total assets liabilities owners' equity

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Horngren’s Cost Accounting
Horngren’s Cost Accounting
Srikant M. Datar, Madhav V. Rajan 16th Edition
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Balance Sheet Current Assets: Cash: $197,000 Accounts Receivable: $257,000 Inventory: $542,000 Total Current Assets: $996,000 Net Fixed Assets: Intangible Net Fixed Assets: $851,000 Tangible Net Fixed Assets: $5,140,000 Total Net Fixed Assets: $5,991,000 Total Assets: $6,987,000 Current Liabilities: Accounts Payable: $292,000 Notes Payable: $185,000 Total Current Liabilities: $477,000 Long-Term Debt: $1,210,000 Total Liabilities: $1,687,000 Retained Earnings: $4,626,000 Total Liabilities & Owners' Equity: $6,987,000
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Consider the following company's balance sheet and income statement. Balance Sheet Assets Liabilities and Equity Cash $16,000 Accounts payable $30,000 Accounts receivable $71,000 Notes payable $24,000 Inventory $52,000 Total current assets $139,000 Total current liabilities $54,000 Fixed assets $80,000 Long-term debt $36,000 Equity $129,000 Total assets $219,000 Total liabilities and equity $219,000 Income Statement Sales (all on credit) $270,000 Cost of goods sold $170,000 Gross margin $100,000 Selling and administrative expenses $42,000 Depreciation $6,000 EBIT $52,000 Interest expense $6,000 Earnings before tax $46,000 Taxes $13,800 Net income $32,200 For this company, calculate the following: (Use 365 days in a year. Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16)) a. Current ratio times b. Number of days' sales in receivables days c. Sales to total assets times d. Number of days in inventory days e. Debt-to-asset ratio % f. Cash-flow debt ratio % g. Return on assets % h. Return on equity %

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Assets 2014 2015 Current assets Cash $ 24,226 $ 25,900 Accounts receivable 14,248 17,000 Inventory 27,802 28,900 Total $ 66,276 $ 71,800 Fixed assets Net plant and equipment $ 342,695 $ 364,200 Total assets $ 408,971 $ 436,000 Liabilities and Owners' Equity 2014 2015 Current liabilities Accounts payable $ 24,984 $ 28,900 Notes payable 17,000 12,600 Other 13,371 17,500 Total $ 55,355 $ 59,000 Long-term debt $124,000 $132,000 Owners' equity Common stock and paid-in surplus $ 60,000 $ 60,000 Accumulated retained earnings 169,616 185,000 Total $229,616 $245,000 Total liabilities and owners' equity $408,971 $436,000 SMOLIRA GOLF CORP. 2015 Income Statement Sales $ 390,477 Cost of goods sold 261,500 Depreciation 50,900 Earnings before interest and taxes $ 78,077 Interest paid 16,100 Taxable income $ 61,977 Taxes (30%) 18,593 Net income $ 43,384 Dividends $28,000 Retained earnings 15,384 Prepare the 2015 statement of cash flows for Smolira Golf Corp. (Negative amounts should be indicated by a minus sign.) SMOLIRA GOLF CORP. Statement of Cash Flows For 2015 Cash, beginning of the year Operating activities (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) Net cash from operating activities Investment activities (Click to select) Net cash from investment activities Financing activities (Click to select) (Click to select) (Click to select) Net cash from financing activities (Click to select) Cash, end of year

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Transcript

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00:01 Hello, here we are with answers to the given question.
00:03 Let's start the discussion.
00:05 We are dealing with something called macferran group.
00:14 The macferran group on december, we are dealing with what happened with respect to the balance sheet.
00:26 So, we need to go for something called accounting.
00:33 When we go for accounting, we have to take into consideration all the assets earned by the company and all the liabilities that the company would be having.
00:51 And it's all deal with balance sheet aspect.
00:56 So, when balance sheet is taken into consideration, the credit side should be equal to the debit side...
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