Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Below are the 2007 and 2008 year-end balance sheets for Tran Enterprises:
Assets :
2008
2007
Cash
$ 200,000
$ 170,000
Accounts receivable
864,000
700,000
Inventories
2,000,000
1,400,000
Total current assets
$3,064,000
$2,270,000
Net fixed assets
6,000,000
5,600,000
Total assets
$9,064,000
$7,870,000
Liabilities and equity:
Accounts payable
$1,400,000
$1,090,000
Notes payable
1,600,000
1,800,000
Total current liabilities
$3,000,000
$2,890,000
Long-term debt
2,400,000
Common stock
3,000,000
Retained earnings
664,000
580,000
Total common equity
$3,664,000
$2,580,000
Total liabilities and equity
The firm has never paid a dividend on its common stock, and it issued $2,400,000 of 10-year, non-callable, long-term debt in 2007. As of the end of 2008, none of the principal on this debt had been repaid. Assume that the company's sales in 2007 and 2008 were the same. Which of the following statements must be CORRECT?
a. The firm increased its short-term bank debt in 2008.
b. The firm issued long-term debt in 2008.
c. The firm issued new common stock in 2008.
d. The firm repurchased some common stock in 2008.
e. The firm had negative net income in 2008.
Several information characteristics and accounting principles and assumptions. Match the letter of each with the appropriate phrase that states its application.
Strauss Table Company manufactures tables for schools. The 20x4 operating budget is based upon sales of 20,000 units at $ 100 per table.
How much cash should Skyline expect to receive from its customers in Jan 10 and how much cash should Skyline expect to receive from its cusotmers in Feb 10?
Determine the increase in net operating income in each market if the advertising campaign were to be initiated in that market.
Prepare an incremental analysis for the 4 years showing whether Shellhammer should keep the existing machine or buy the new machine and calculate the annual rate of return for the new machine
The payroll bank account is reconciled by the chief accountant, who also prepares the several quarterly and annual tax reports.
Compute the activity rates for all the activity cost pools and using the activity-based costing system, compute the customer margin for the Anderson family.
What is the definition of the relevant cost and how would it execute to both job costing and process costing.
Given Mountainarious Sporting Co.'s financial statements for the period 2004 to 2007 you are to undertake appropriate vertical, horizontal and ratio analysis of those financial statements
Compare the income statements broken down by job using the plant wide rate and ABC. Compute the gross profit margin for each job as well as gross profit in total.
type your homework question here like help me understand this chemistry profinkler residential treatment facility
regal polish manufactures a single product in one department and uses a process costing system. at the start of may
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd