ASSETS Cash Accounts receivable Inventory Net plant and equipment Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable Accrued expenses Long-term debt Common stock Paid-in capital Retained earnings Total liabilities and stockholders' equity Sales (all on credit) Cost of goods sold Gross profit Sales and administrative expenses Depreciation Operating profit Interest expense Profit before taxes Taxes (30%) Net income Multiple Choice O MEGAFRAME COMPUTER COMPANY Income Statement For the year ended December 31 Refer to the tables above. What Is Megaframe Computer's total asset turnover? O MEGAFRAME COMPUTER COMPANY Balance Sheet As of December 31 O 7.58x 3.6x 2x 1.94x $ 875,000 600,000 $ 275,000 30,000 55,000 $ 190,000 25,000 $ 165,000 49,500 $ 115,500 $ 50,000 70,000 110,000 220,000 $ 450,000 $ 70,000 50,000 130,000 70,000 40,000 90,000 $ 450,000

ASSETS Cash Accounts receivable Inventory Net plant and equipment Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable Accrued expenses Long-term debt Common stock Paid-in capital Retained earnings Total liabilities and stockholders' equity Sales (all on credit) Cost of goods sold Gross profit Sales and administrative expenses Depreciation Operating profit Interest expense Profit before taxes Taxes (30%) Net income Multiple Choice O MEGAFRAME COMPUTER COMPANY Income Statement For the year ended December 31 Refer to the tables above. What Is Megaframe Computer's total asset turnover? O MEGAFRAME COMPUTER COMPANY Balance Sheet As of December 31 O 7.58x 3.6x 2x 1.94x $ 875,000 600,000 $ 275,000 30,000 55,000 $ 190,000 25,000 $ 165,000 49,500 $ 115,500 $ 50,000 70,000 110,000 220,000 $ 450,000 $ 70,000 50,000 130,000 70,000 40,000 90,000 $ 450,000

Name: ASSETSCashAccounts receivableInventoryNet plant and equipmentTotal as
Uploaded: 2024-03-20T06:33:21.000Z
Channel: Bartleby
Description: ASSETSCashAccounts receivableInventoryNet plant and equipmentTotal assetsLIABILITIES AND STOCKHOLDERS' EQUITYAccounts payableAccrued expensesLong-term debtCommon stockPaid-in capitalRetained earningsTotal liabilities and stockholders' equitySales (a

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 20MC: Which of the following is a measurement of earnings that represents the profit before interest,...

See similar textbooks

Similar questions

The Balance-Sheet identity is (circle ALL that apply. Think of different ways to present this identity): Sales/Revenue-Cost of Goods Sold-Depreciation Interest Taxes-Net Income Assets Liabilities Equity Assets Equity-Liabilities Cash-Long-term Debt Equity+Current Liabilities-Non-Cash Current Assets-Fixed Assets Assets Liabilities+Equity Current Assets Fixed Assets Current Liabilities+Long-term Debt+Equity EBIT-Sales/Revenue- Fixed Assets + Current Liabilities Change in Cash-Operating Activities + Investment Activities+ Financing Activities
Balance sheet Assets Non-current assets Property, plant and equipment Long-term receivables Total non-current assets Current Assets Goods Customers Cheques receivable Cash Total current assets Total assets Equity and Liabilities Equity Equity Reserves Total Equity Obligations Long-term liabilities Current Liabilities Suppliers Other current liabilities Taxes Payable Total Current Liabilities Total Liabilities Total Equity and Liabilities Sales Cogs Mixed result Staff remuneration Profit and loss statement Miscellaneous costs Depreciation Profit before tax Income Tax Net profit for the financial year The following data are given: • ● 2020 240.000,00 | 180.000,00 25.000,00 14.000,00 265.000,00 194.000,00 2021 55.000,00 40.000,00 125.000,00 135.000,00 62.000,00 71.000,00 183.000,00 160.000,00 425.000,00 406.000,00 690.000,00 600.000,00 200.000,00 170.000,00 92.000,00 60.000,00 292.000,00 230.000,00 55.000,00 30.000,00 730.000,00 -240.000,00 490.000,00 -114.000,00 -255.000,00 -60.000,00…
Dec. 31, 2020 Dec. 31, 2019 Assets Current assets: Cash and cash equivalents $248,005 $419,465 Accounts receivable 38,283 34,839 Inventory 15.043 15,332 Prepaid expenses and other current assets 39,965 34,795 Income tax receivable 58,152 16,488 Investments 415,199 338,592 Total current assets 814.647 859,511 Property, plant, & equipment, net 1,217.220 1,106,984 Long-term investments 622,939 496.106 Other assets 70,260 64,716 Total assets $2,725,066 $2,527,317 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $85,709 $69,613 Accrued payroll and benefits 64,958 73,894 Accrued liabilities 129,275 102,203 Total current liabilities 279,942 245,710 Deferred liabilities 284.267 240,975 Other liabilities 32.883 28,263 Total liabilities 597,092 514,948 Shareholders' equity: Common stock 358 354 Additional paid-in capital 954,988 861.843 Retained earnings 1,172.628 1,150,172 Total shareholders' equity 2,127,974 2,012.369 Total liabilities and shareholders' equity…
Calculate the EBIT which should be used for the EV / EBIT multiple given the information below: Net revenues Cost of sales Gross Profit Selling, general and administrative expenses Amortization expense Restructuring costs Acquisition-related costs Asset impairment charges Gain on sales of assets Operating income Interest expense, net Loss on early extinguishment of debt Other expense, net Income (loss) before taxes (Benefit) provision for income taxes Net income (loss) Select one: 1,394,8 1,444.4 1,474.3 S 1,419.6 5,248.1 1,746.0 3,502.1 2,027.8 During fiscal 2050, the company sold assets relating to the Cutey brand for a total disposal price of $29.2. The Company allocated $4.2 of goodwill to the brand as part of the sale. The Company recorded a gain of $24.8 which has been reflected in Gain on sales of assets in the Consolidated Statement of Operations for the fiscal year ended June 30, 2050. 79.5 86.9 174.0 5.5 (24.8) 1,153.2 81.9 3.1 30.4 1,037.8 (40.4) 1,078.2
You are considering the purchase of a new machine for a project. Details of this potential purchase are provided below. • The project life is 3 years The machine costs $240,000 o You will pay cash for half of this at time 0, and will finance the remaining half at 10% APR compounded annually over 3 years. The machine will be depreciated using a 7 year MACRS approach. Annual O&M costs of the machine are $25,000. Annual labor savings (revenues) are $100,000. Salvage Value at the end of year 3 will be $90,000. Working Capital requirement is initially $50,000. Any investment in Working Capital will be recovered at the end of the project. Assume an income tax rate and gains tax rate of 21%. Your MARR is 15%. NOTE: DO THIS PROBLEM AS A CONSTANT YEAR PROBLEM (I.E. YOU DON'T NEED TO ADJUST FOR THE EFFECTS OF INFLATION) Part (a) (a)). Fill in the Income and Cash Flow tables on the next page to find the annual after-tax cash flows. Cells outlined in BOLD are grading checkpoints. These cells are…
Which of the following is a measurement of earnings that represents the profit before interest, taxes, depreciation and amortization are subtracted? A. net income B. retained earnings C. EBITDA D. EPS
What to put in the income statement based on this list? InventoryBuildings & ImprovementsAccumulated Depreciation - Buildings & ImprovementsFurniture & FixturesAccumulated Depreciation - Furniture & FixturesOffice EquipmentAccumulated Depreciation - Office EquipmentAccounts PayableLoans PayableAccrued LiabilitiesSalaries PayableEmployee Benefits PayablePaid-Up Share Capital - CommonAdditional Paid in CapitalRetained EarningsSalesFees and Surcharges & FinesOther Income & GainsMiscellaneous IncomeCost of SalesInterest ExpenseOffice Supplies ExpenseTravel and TransportationTaxes and LicensesProfessional FeesRent ExpenseMeeting and ConferencesBad Debts ExpenseDepreciation Expense - B&IDepreciation Expense - FFDepreciation Expense - OEEmployees Benefit ExpenseSalaries & WagesCommunicationMiscellaneous ExpensesIncome Summary
The trial balance of Rollins Inc. included the following accounts as of December 31, 2021: Credits 5, 200, 000 36, 500 Debits Sales revenue Interest revenue Loss on sale of investments Loss on debt investments Gain on projected benefit obligation Cost of goods sold Selling expense Restructuring costs Interest expense General and administrative expense 20, 000 122, 000 225, 000 3,770,000 330,000 145, 000 10, 000 230, 000 The loss on debt investments represents a decrease in the fair value of debt securities and is classified as part of other comprehensive income. Rollins had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 25%. Required Prepare a 2021 single, continuous statement of comprehensive income for Rollins Inc. Use a multiple-step income statement format: (Amounts to be deducted should be indicated with a minus sien. Roind Earnings per share answer to 2 decimal places. ROLLINS INC Statement of…
Hi pls, make income statement, statement of retained earnings, and ending balance sheet. Trial balances (amount in Php) Particulars Debit amount Credit amount Accounts payable Accounts receivable Share capital, common stock Cash Notes payable Property, plant and equipment Accumulated depreciation Allowances for doubtful debts Inventories Prepaid expense Goodwill Estimated tax liability Marketable securities Accrued expense Patents and trademarks Bonds payable Investments Deferred revenue Other liabilities(long term) Retained earnings - 4325 - 11660 - 6200 - - 1750 1250 100 - 1750 - 500 - 1500 - - - 1965 - 9990 - 800 - 3100 540 - - - 750 - 1000 - 2000 - 1650 1000 6240
Hi pls, make an income statement (ignore taxes), statement of retained earnings, and ending balance sheet. Trial balances (amount in Php) Particulars Debit amount Credit amount Accounts payable Accounts receivable Share capital, common stock Cash Notes payable Property, plant and equipment Accumulated depreciation Allowances for doubtful debts Inventories Prepaid expense Goodwill Estimated tax liability Marketable securities Accrued expense Patents and trademarks Bonds payable Investments Deferred revenue Other liabilities(long term) Retained earnings - 4325 - 11660 - 6200 - - 1750 1250 100 - 1750 - 500 - 1500 - - - 1965 - 9990 - 800 - 3100 540 - - - 750 - 1000 - 2000 - 1650 1000 6240
Accounts Sales to outside parties Intersegment sales Interest income-external Interest income-intersegment loans Assets Operating expenses Expenses-intersegment sales Interest expense-external Interest expense-intersegment loans Income tax expense (savings) General corporate expenses Unallocated operating costs Revenue Test Profit or Loss Test Books Computers Maps Travel Finance Total Required: a1. Determine the reportable segments by performing revenue test. a2. Determine the reportable segments by performing profit or loss test. a3. Determine the reportable segments by performing asset test. Segment Revenues Percentage Complete this question by entering your answers in the tabs below. Asset Test $ Company Total $ 1,735 0 551 135 167 3,728 1,580 % % 0.0 % 255 127 227 141 105 130 % Reportable % Books $ 189 44 78 0 256 135 90 0 41 62 Reported or Not Reported Computers Maps $ 756 $ 446 280 59 0 0 0 0 1,481 868 71 BLOr Determine the reportable segments by performing revenue test. Note:…
Available Options Are: Accounts Payable - Frist Accounts Payable - Lyon Accounts Receivable - Frist Accounts Receivable - Lyon Accumulated Depreciation Additional Paid-In Capital Bond Premium Bonds Payable Building Cash Common Stock Cost of Goods Sold Depreciation Expense Discount on bonds payable Dividends Declared Finance Costs Goodwill Intrerest Expense Interest Income Intrerest Payable Interest Receivable Land Merchandise Inventory Micellaneous Expense Other Expenses Sales