ACCOUNTING

Anonymous
timer Asked: Apr 8th, 2018
account_balance_wallet $30

Question description

i have to get 100% to pass this test otherwise i will have to take the same test again but with different values. i only need the answers to the questions. JUST ANSWERS

statements connection Q:1 Use the starting balance sheet, income statement, and the list of changes to an Stuart Company Balance Sheet As of December 31, 2017 (amounts in thousands) Cash Other Assets Total Assets 37.000 Liabilities 32.000 Equity 69.000 Total Liabilities & Equity Stuart Company Income Statement January 1 to March 31, 2018 (amounts in thousands) Revenue Expenses Net Income 7.500 4.400 3.100 Between January 1 and March 31, 2018: 1. Other Assets decrease by $300,000 2. Liabilities increase by $400,000 3. Paid-In Capital does not change 4. Dividends paid of $200,000 What is the value for Cash on March 31, 2018? Please specify your answer in the same units as the financial statements. Q:2 Use the income statement and the list of changes to answer the question. Stuart Company Income Statement January 1 to December 31, 2017 (amounts in thousands) Revenue Cost of Goods Sold (COGS) Gross Income 8.800 2.640 6.160 Sales, General, & Administrative Expenses 880(SG&A) Depreciation Expense 900 Other Expenses 500 Earnings Before Interest & Taxes (EBIT) 3.880 Interest 110 Pre-Tax Income 3.770 Income Taxes 1.508 Net Income 2.262 Between January 1 and December 31, 2017: 1. Accounts Receivable decrease by $300,000 2. Accounts Payable decrease by $900,000 3. Gross Property, Plant, & Equipment increase by $7,500,000 4. Long Term Debt decreases by $600,000 Assume no other changes What is the Net Cash Flow? Please specify your answer in the same units as the income statement. Q:3 Use the starting balance sheet and statement of cash flows to answer the ques Stuart Company Balance Sheet As of December 31, 2017 (amounts in thousands) Cash 84.000 Accounts Payable Accounts Receivable 47.000 Debt Inventory 42.000 Other Liabilities Property Plant & Equipment, Gross 243.000 Total Liabilities Accumulated Depreciation 71.000 Paid-In Capital Property Plant & Equipment, Net 172.000 Retained Earnings Other Assets 28.000 Total Equity Total Assets 373.000 Total Liabilities & Equity Stuart Company Statement of Cash Flows January 1 to March 31, 2018 (amounts in thousands) Net Income Depreciation 7.700 1.700 Decrease (Increase) in Accounts Receivable 300 Decrease (Increase) in Inventory -800 Increase (Decrease) in Accounts Payable -900 Other Adjustments 0 Net Cash Flow from Operating Activities 8.000 Purchase of Property, Plant, & Equipment -7.500 Other Adjustments 0 Net Cash Flow from Investing Activities -7.500 Increase (Decrease) in Debt -600 Dividends -800 Other Adjustments 0 Net Cash Flow from Financing Activities -1.400 Net Cash Flow -900 What is the value for Total Liabilities & Equity on March 31, 2018? Please specify your answer in the same units as the financial statements. Q:4 se the balance sheets and information provided about revenue and expenses to Nippon Technology Balance Sheet As of December 31, 2017 (amounts in thousands) Cash 137.000 Accounts Payable Accounts Receivable 32.000 Debt Inventory 51.000 Other Liabilities Property Plant & Equipment, Gross 227.000 Total Liabilities Accumulated Depreciation 73.000 Paid-In Capital Property Plant & Equipment, Net 154.000 Retained Earnings Other Assets 8.000 Total Equity Total Assets 382.000 Total Liabilities & Equity Nippon Technology Balance Sheet As of March 31, 2018 (amounts in thousands) Cash 140.000 Accounts Receivable 26.000 Inventory 56.000 Property Plant & Equipment, Gross 227.000 Accumulated Depreciation 73.800 Accounts Payable Debt Other Liabilities Total Liabilities Paid-In Capital Property Plant & Equipment, Net Other Assets Total Assets 153.200 Retained Earnings 12.000 Total Equity 387.200 Total Liabilities & Equity Revenue and expenses information from January 1 to March 31, 2018 were: Sales Revenue of $7,900,000 COGS of 40% of Sales Interest of $80,000 Other Expenses of $600,000 SG&A of $790,000 Tax Rate of 34% What is the net income in the first quarter of 2018? Please specify your answer in the same units as the balance sheets and round T-accounts Q:1 Consider the following account starting balances and transactions involving the Use T-accounts to record the starting balances and the offsetting entries for th The starting balance of Accounts Receivable is $4,400 The starting balance of Cash is $9,100 The starting balance of Inventory is $4,800 1. Receive payment of $12 owed by a customer 2. Buy $18 worth of manufacturing supplies for cash 3. Sell product for $25 in cash with historical cost of $25 What is the final amount in Accounts Receivable? Q:2 Consider the following account starting balances and transactions involving the Use T-accounts to record the starting balances and the offsetting entries for th The starting balance of Accounts Payable is $1,200 The starting balance of Cash is $9,000 The starting balance of Debt is $3,600 The starting balance of Inventory is $5,100 1. Buy $15 worth of manufacturing supplies on credit 2. Borrow $65 from a bank 3. Pay $7 owed to a supplier What is the final amount in Accounts Payable? Q3 Consider the following account starting balances and transactions involving the Use T-accounts to record the starting balances and the offsetting entries for th The starting balance of Cash is $14,700 The starting balance of Inventory is $3,800 The starting balance of Retained Earnings is $22,900 1. Sell product for $35 in cash with historical cost of $28 2. Sell, deliver, and receive payment of $20 for service 3. Consume good or service and pay expense of $3 What is the final amount in Retained Earnings? Q4 he T-accounts below summarize transactions of Lightspeed Industries from February 22 to F Cash Balance 14.100 80 65 12 6 47 8 PP&E, Net Balance 16.300 47 Accounts Payable Balance 8 1.900 17 Other Liabilities Balance 2.000 Accounts Receivable Balance 3.200 Other Assets Balance 12 500 Debt Balance 3.600 65 Paid-In Capital Balance 7.200 80 Inventory Balance 4.900 17 5 Retained Earnings Balance 24.300 1 What is the final amount in Total Assets? Q5 Siam Traders Balance Sheet As of March 11, 2018 (amounts in thousands) Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total Assets 9.100 4.400 4.800 15.600 2.600 Accounts Payable Debt Other Liabilities Total Liabilities Paid-In Capital Retained Earnings Total Equity 36.500 Total Liabilities & Equity Use T-accounts to record the transactions below, which occur on March 12, 20 1. Purchase equipment for $43,000 in cash 2. Receive payment of $11,000 owed by a customer 3. Buy $14,000 worth of manufacturing supplies on credit What is the final amount in Total Equity? Please specify your answer in the same units as the balance sheet. Q6 Stuart Company Balance Sheet As of March 11, 2018 (amounts in thousands) Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total Assets 8.400 4.700 4.200 17.200 2.800 Accounts Payable Debt Other Liabilities Total Liabilities Paid-In Capital Retained Earnings Total Equity 37.300 Total Liabilities & Equity Use T-accounts to record the transactions below, which occur on March 12, 20 1. Borrow $52,000 from a bank 2. Purchase equipment for $48,000 in cash 3. Issue $85,000 in stock 4. Buy $15,000 worth of manufacturing supplies on credit 5. Receive payment of $10,000 owed by a customer What is the final amount in Total Assets? Please specify your answer in the same units as the balance sheet. Q7 Dansko Integrated Balance Sheet As of March 11, 2018 (amounts in thousands) Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total Assets 9.900 4.500 3.800 16.800 1.600 Accounts Payable Debt Other Liabilities Total Liabilities Paid-In Capital Retained Earnings Total Equity 36.600 Total Liabilities & Equity Use T-accounts to record the transactions below, which occur on March 12, 20 1. Consume good or service and pay expense of $3,000 2. Sell product for $40,000 in cash with historical cost of $32,000 3. Sell, deliver, and receive payment of $25,000 for service What is the final amount in Total Liabilities & Equity? Please specify your answer in the same units as the balance sheet. Journal Q1 Consider the following account starting balances and journal transactions involv Use T-accounts to record the starting balances and organize the offsetting entr The starting balance of Accounts Receivable is $3,200 The starting balance of Cash is $14,100 The starting balance of Inventory is $4,900 Date Accounts and Explanation Debit 19-Jan Inventory 17 Cash Bought manufacturing supplies for cash 20-Jan Cash 25 Inventory Sold and delivered product to customer at cost 21-Jan Cash 12 Accounts Receivable Received customer payment What is the final amount in Cash? Q2 Consider the following account starting balances and journal transactions involv Use T-accounts to record the starting balances and organize the offsetting entr The starting balance of Accounts Payable is $1,900 The starting balance of Cash is $14,100 The starting balance of Debt is $3,600 The starting balance of Inventory is $4,900 Date Accounts and Explanation Debit 10-Feb Cash Debt Borrowed money from bank 11-Feb Accounts Payable Cash Paid money owed to supplier 59 4 12-Feb Inventory 18 Accounts Payable Bought manufacturing supplies on credit What is the final amount in Accounts Payable? Q3 Consider the following account starting balances and journal transactions involv Use T-accounts to record the starting balances and organize the offsetting entr The starting balance of Cash is $12,500 The starting balance of Inventory is $5,200 The starting balance of Retained Earnings is $23,900 Date Accounts and Explanation Debit 9-Mar Retained Earnings 3 Cash Consumed good or service and paid expense with cash 10-Mar Cash 20 Inventory Retained Earnings Sold and delivered product to customer 11-Mar Cash 35 Retained Earnings Sold, delivered, and received payment for service with no clear associa What is the final amount in Retained Earnings? Q4 Stuart Company Balance Sheet As of January 3, 2018 (amounts in thousands) Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total Assets 8.400 4.700 4.200 17.200 2.800 Accounts Payable Debt Other Liabilities Total Liabilities Paid-In Capital Retained Earnings Total Equity 37.300 Total Liabilities & Equity Transfer the journal entries to T-accounts for the transactions below, compute Journal amounts in thousands Date Account and Explanation Debit 4-Jan Cash 52 Debt Borrowed money from bank 5-Jan Property, Plant & Equipment 48 Cash Paid cash for machine 6-Jan Cash 85 Paid-In Capital Issued stock 7-Jan Inventory 15 Accounts Payable Bought manufacturing supplies on credit 8-Jan Cash 10 Inventory Retained Earnings Sold and delivered product to customer 9-Jan Accounts Payable 7 Cash Paid money owed to supplier 10-Jan Cash 11 Accounts Receivable Received customer payment What is the final amount in Total Assets? Please specify your answer in the same units as the balance sheet. Q5 Ruston Company Balance Sheet As of January 24, 2018 (amounts in thousands) Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total Assets 9.000 3.400 5.100 17.500 600 Accounts Payable Debt Other Liabilities Total Liabilities Paid-In Capital Retained Earnings Total Equity 35.600 Total Liabilities & Equity Record the transactions in a journal, transfer the journal entries to T-accounts, Jan 25. Borrow $55,000 from a bank Jan 26. Buy $14,000 worth of manufacturing supplies on credit Jan 27. Pay $7,000 owed to a supplier What is the final amount in Total Assets? Please specify your answer in the same units as the balance sheet. Q6 Siam Traders Balance Sheet As of January 24, 2018 (amounts in thousands) Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total Assets 9.100 4.400 4.800 15.600 2.600 Accounts Payable Debt Other Liabilities Total Liabilities Paid-In Capital Retained Earnings Total Equity 36.500 Total Liabilities & Equity Record the transactions in a journal, transfer the journal entries to T-accounts, Jan 25. Purchase equipment for $43,000 in cash Jan 26. Receive payment of $11,000 owed by a customer Jan 27. Buy $14,000 worth of manufacturing supplies on credit Jan 28. Issue $70,000 in stock Jan 29. Pay $8,000 owed to a supplier What is the final amount in Total Equity? Please specify your answer in the same units as the balance sheet. Q7 Nippon Technology Balance Sheet As of January 24, 2018 (amounts in thousands) Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets 13.700 3.200 5.100 15.400 800 Accounts Payable Debt Other Liabilities Total Liabilities Paid-In Capital Retained Earnings Total Assets Total Equity 38.200 Total Liabilities & Equity Record the transactions in a journal, transfer the journal entries to T-accounts, Jan 25. Sell, deliver, and receive payment of $20,000 for service Jan 26. Consume good or service and pay expense of $2,000 Jan 27. Sell product for $25,000 in cash with historical cost of $20,000 What is the final amount in Total Assets? Please specify your answer in the same units as the balance sheet. ent, and the list of changes to answer the question. 22.000 47.000 69.000 as the financial statements. ges to answer the question. e by $7,500,000 as the income statement. of cash flows to answer the question. 28.000 34.000 9.000 71.000 67.000 235.000 302.000 373.000 ity on March 31, 2018? as the financial statements. d about revenue and expenses to answer the question. 20.000 36.000 9.000 65.000 72.000 245.000 317.000 382.000 28.000 32.000 8.670 68.670 72.000 246.530 318.530 387.200 ary 1 to March 31, 2018 were: as the balance sheets and round your answer to the nearest integer es and transactions involving these accounts. and the offsetting entries for the transactions. ost of $25 ceivable? es and transactions involving these accounts. and the offsetting entries for the transactions. 1.900 2.400 600 4.900 6.900 24.700 31.600 36.500 w, which occur on March 12, 2018, close the T-accounts, and construct a balance sheet to answer es on credit as the balance sheet. 2.800 3.400 900 7.100 6.700 23.500 30.200 37.300 w, which occur on March 12, 2018, close the T-accounts, and construct a balance sheet to answer es on credit as the balance sheet. 2.700 3.500 1.000 7.200 8.000 21.400 29.400 36.600 w, which occur on March 12, 2018, close the T-accounts, and construct a balance sheet to answer of $3,000 cal cost of $32,000 0 for service & Equity? as the balance sheet. es and journal transactions involving these accounts. and organize the offsetting entries for the transactions. Credit 17 25 stomer at cost 12 es and journal transactions involving these accounts. and organize the offsetting entries for the transactions. Credit 59 4 18 es and journal transactions involving these accounts. and organize the offsetting entries for the transactions. Credit 3 aid expense with cash 16 4 35 ment for service with no clear associated cost 2.800 3.400 900 7.100 6.700 23.500 30.200 37.300 he transactions below, compute closing amounts for the T-accounts, and construct a final balance s Credit 52 48 85 15 8 2 7 11 as the balance sheet. 1.200 3.600 2.100 6.900 5.900 22.800 28.700 35.600 he journal entries to T-accounts, compute closing amounts for the T-accounts, and construct a bala upplies on credit as the balance sheet. 1.900 2.400 600 4.900 6.900 24.700 31.600 36.500 he journal entries to T-accounts, compute closing amounts for the T-accounts, and construct a bala a customer upplies on credit as the balance sheet. 2.000 3.600 900 6.500 7.200 24.500 31.700 38.200 he journal entries to T-accounts, compute closing amounts for the T-accounts, and construct a bala 20,000 for service ense of $2,000 istorical cost of $20,000 as the balance sheet. onstruct a final balance sheet to answer the question. nts, and construct a balance sheet to answer the question. nts, and construct a balance sheet to answer the question. nts, and construct a balance sheet to answer the question.

Tutor Answer

Missmourine
School: Carnegie Mellon University

Hello, am submitting soon
Find the attached doc, best regards

statements connection
Q:1

Use the starting balance sheet, income statement, and the list of changes to an
Stuart Company
Balance Sheet
As of December 31, 2017
(amounts in thousands)
Cash
Other Assets
Total Assets

37,000 Liabilities
32,000 Equity
69,000 Total Liabilities & Equity

Stuart Company
Income Statement
January 1 to March 31, 2018
(amounts in thousands)
Revenue
Expenses
Net Income

7,500
4,400
3,100

Between January 1 and March 31, 2018:
1. Other Assets decrease by $300,000
2. Liabilities increase by $400,000
3. Paid-In Capital does not change
4. Dividends paid of $200,000

What is the value for Cash on March 31, 2018?
Please specify your answer in the same units as the financial statements.

Q:2

Use the income statement and the list of changes to answer the question.
Stuart Company
Income Statement
January 1 to December 31, 2017
(amounts in thousands)
Revenue
Cost of Goods Sold (COGS)
Gross Income

8,800
2,640
6,160

Sales, General, & Administrative Expenses
880(SG&A)
Depreciation Expense
900
Other Expenses
500
Earnings Before Interest & Taxes (EBIT)
3,880
Interest
110
Pre-Tax Income
3,770
Income Taxes
1,508
Net Income
2,262

Between January 1 and December 31, 2017:
1. Accounts Receivable decrease by $300,000
2. Accounts Payable decrease by $900,000
3. Gross Property, Plant, & Equipment increase by $7,500,000
4. Long Term Debt decreases by $600,000
Assume no other changes
What is the Net Cash Flow?
Please specify your answer in the same units as the income statement.

Q:3

Use the starting balance sheet and statement of cash flows to answer the ques
Stuart Company
Balance Sheet
As of December 31, 2017
(amounts in thousands)
Cash
84,000 Accounts Payable
Accounts Receivable
47,000 Debt
Inventory
42,000 Other Liabilities
Property Plant & Equipment, Gross 243,000 Total Liabilities
Accumulated Depreciation
71,000 Paid-In Capital
Property Plant & Equipment, Net 172,000 Retained Earnings
Other Assets
28,000 Total Equity
Total Assets
373,000 Total Liabilities & Equity

Stuart Company
Statement of Cash Flows
January 1 to March 31, 2018
(amounts in thousands)
Net Income
Depreciation

7,700
1,700

Decrease (Increase) in Accounts Receivable
300
Decrease (Increase) in Inventory
-800
Increase (Decrease) in Accounts Payable
-900
Other Adjustments
0
Net Cash Flow from Operating Activities
8,000
Purchase of Property, Plant, & Equipment
-7,500
Other Adjustments
0
Net Cash Flow from Investing Activities
-7,500
Increase (Decrease) in Debt
-600
Dividends
-800
Other Adjustments
0
Net Cash Flow from Financing Activities
-1,400
Net Cash Flow
-900

What is the value for Total Liabilities & Equity on March 31, 2018?
Please specify your answer in the same units as the financial statements.

Q:4

se the balance sheets and information provided about revenue and expenses to
Nippon Technology
Balance Sheet
As of December 31, 2017
(amounts in thousands)
Cash
137,000 Accounts Payable
Accounts Receivable
32,000 Debt
Inventory
51,000 Other Liabilities
Property Plant & Equipment, Gross 227,000 Total Liabilities
Accumulated Depreciation
73,000 Paid-In Capital
Property Plant & Equipment, Net 154,000 Retained Earnings
Other Assets
8,000 Total Equity
Tota...

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