QUESTION 9 For the year ended December 31, Year 2 For the year ended December 31, Year 1 $ 6,500 $ 500 Revenues 1,500 Expenses Net Income December 31, Year 2 December 31, Year 1 $ 16,500 $1,000 Assets 500 Liabilities 300 300 Stock $. $ 200 Retained Earnings Assume Year 1 is the company's first year of business and there were no dividends in Year 1 or Year 2. After determining the missing amounts ($. December 31, Year 2 Retained Earnings $. in the above financial statements, calculate and type in the

QUESTION 9 For the year ended December 31, Year 2 For the year ended December 31, Year 1 $ 6,500 $ 500 Revenues 1,500 Expenses Net Income December 31, Year 2 December 31, Year 1 $ 16,500 $1,000 Assets 500 Liabilities 300 300 Stock $. $ 200 Retained Earnings Assume Year 1 is the company's first year of business and there were no dividends in Year 1 or Year 2. After determining the missing amounts ($. December 31, Year 2 Retained Earnings $. in the above financial statements, calculate and type in the

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 20E

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Exercise 10-10 (Algo) Calculate retained earnings each year (LO10-5) In its first five years of operations, Monster Hats reports the following net income and dividends (the first year is a net loss). Required: Calculate the balance of Retained Earnings at the end of each year. (Negative amounts should be indicated with a minus sign.) Year 1 2 345 > Answer is complete but not entirely correct. Net Income Dividends for the (Loss) for the Year Year S (44,000) 59,000 93,000 130,000 155,000 $ 0 0 23,000 23,000 36,000 Ending Retained Earnings $ (44,000)✔ 57,000 X 70,000 X 107,000 > 119,000 X
The following is an excerpt from a quarterly earnings announcement by American Express: PROBLEM 2–17A American Express Earnings Quality American Express Reports Record Quarterly Net Income of $648 Million QUARTER ENDED SEPTEMBER 30 Percentage ($ millions except per share amounts) 20X9 20X8 Inc./(Dec.) $ 648 $ 4,879 $ 1.45 $ 574 $ 4,342 $ 1.27 13.0% 12.4% Net income Net revenues Per share net income (Basic) 14.2% 451.6 (1.2%) Average common shares outstanding Return on average equity 446.0 25.3% 23.9% NINE MONTHS ENDED SEPTEMBER 30 Percentage Inc./(Dec.) ($ millions except per share amounts) 20X9 20X8 $ 1,869 $14,211 $ 4.18 $ 1,611 $12,662 $ 3.53 456.2 Net income 16.0% Net revenues 12.2% Per share net income (Basic) 18.4% Average common shares outstanding Return on average equity 447.0 (2.0%) 25.3% 23.9% Due to a change in accounting rules, the company is required to capitalize software costs rather than expense them as they occur. For the third quarter of 20X9, this amounted to a…
u Answered rect Answer A firm had the following accounts and financial data for the most recent fiscal year: Sales Accounts Receivable Interest Expense Total Operating Expense Accounts Payable Cost of Goods Sold Preferred Stock Dividends Tax rate $213.80 $206.25 $320.40 $396.00 $ 3,060 0 --$206.40 500 126 600 Shares Outstanding The firm's after-tax profit for the year was I 240 1,800 18 40% 1,000
Question 1 of 8 View Policies Current Attempt in Progress For its fiscal year ending October 31, 2022. Pharoah Corporation reports the following partial data Income before income taxes $580.000 Income tax experse (32% x $449.000) 143.680 tncome from continuing operations 436,320 Loss on discontinued operations 131000 Net income $305,320 The loss on discontinued operations was comprised ot a $51.000 loss trom operations and a $80.000 loss from disposal. The income tax rate is 32% on all items ta) Prepare a correct partial income statement. beginning with income before income taxes. (Enter loss using either a negative sign preceding the number eg 2,945 or parentheses eg (2,945)) PHAROAH CORPORATION
January 01 Retained earnings is $ 58980 Net income is $ 56500, dividends declared and paid is $ 25000 Calculate the ending retained Earnings
#6 Item Prior year Current year Accounts payable 8,182.00 7,768.00 Accounts receivable 6,011.00 6,766.00 Accruals Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense Inventories Long-term debt 1,022.00 1,542.00 ??? ??? 11,535.00 12,370.00 12,726.00 18,265.00 4,989.00 5,013.00 2,500 2,833.00 733 417 4,158.00 4,820.00 14,080.00 14,452.00 Net fixed assets 51,720.00 54,916.00 Notes payable 4,306.00 9,860.00 Operating expenses (excl. depr.) 13,977 18,172 Retained earnings 28,006.00 29,332.00 Sales 35,119 47,524.00 Taxes 2,084 2,775 What is the firm's total change in cash from the prior year to the current year? Submit Answer format: Number: Round to: 0 decimal places.
Exercise 10-9 (Static) Find missing amounts for retained earnings (LO10-5) Consider each of the following independent situations: Required: For each situation, calculate the missing amount. a. b. C. d. 69 69 69 $ $ Beginning Retained Earnings Net Income for Dividends for the Year the Year 320,000 $ 120,000 $ 540,000 $ 230,000 290,000 S LA 69 170,000 $ 20,000 $ 50,000 $ 30,000 69 Ending Retained Earnings 700,000 360,000 490,000
QUESTION 8 For the year ended December 31 Revenues Expenses Net Income Year 2 $8,500 5,500 2 Year 2 $15,500 300 Year 1 ? $5,500 4,000 At December 31 Assets Liabilities Stock Retained Earnings Assume Year 1 ($ were no dividends in years 1 and 2. After determining the missing amounts _) in the above financial statements, calculate and type in the December 31, Year 1 Retained Earnings 1.$_ the company's year of business 2 Year 1 $9,000 300 ?
04 The following balance sheet information is provided for Santana Company for Year 2: Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity What is the company's debt to equity ratio? here to search R 558 LLI O B 100 H N < Prev U J Saved M 40 of 44 1 hp K HO $4,200 10,350 14,100 900 18,800 12,700 $61,050 $2,370 8,930 8,500 20,000 21,250 $61,050 Next a f brt sc Help
PROBLEM 8-5 Disaggregating and Analyzing Return on Common Equity CHECK (a) Yr. 5 RNOA = 10.0% Selected financial statement data from Texas Telecom, Inc., for Years 5 and 9 are reproduced below ($ millions): Income Statement Data Revenues.. Operating income. Interest expense.. Pretax income Income taxes Net income. Balance Sheet Data Long-term operating assets. Working capital.. Total liabilities... Total shareholders' equity. Year 5 $542 35 7 28 14 14 $ 52 123 50 125 Year 9 $979 68 0 68 34 34 $63 157 0 220 3 Required: a. Calculate return on common equity and disaggregate ROCE for Years 5 and 9 using end-of-year values for com- putations requiring an average (assume fixed assets and working capital are operating and a 50% tax rate). b. Comment on Texas Telecom's use of financial leverage.
#6 Category Prior year Current year Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400 Accruals 16,200 13,500 Additional paid in capital 200,000 216,660 Cash ??? ??? Common Stock @ par value 37,600 42,000 COGS 131,400 179,956.00 Depreciation expense 21,600 22,463.00 Interest expense 16,200 16,482.00 Inventories 111,600 115,200 Long-term debt 135,000 137,146.00 Net fixed assets 379,236.00 399,600 Notes payable 59,400 64,800 Operating expenses (excl. 50,400 68,301.00 depr.) Retained earnings 122,400 136,800 Sales 255,600 338,146.00 Taxes 9,900 19,217.00 What is the current year's entry for long-term debt on a common-sized balance sheet? 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))
Q. 7 The Primus Corp. began the year with $7,451 in its long-term debt account and ended the year with $9,117 in long-term debt. The company paid $1,059 in interest during the year and issued $2,435 in new long-term debt. How much long-term debt must the company have paid off during the year? -$1,666 -$607 $769 $532 $1,666