MGAB01H3 Chapter Notes - Chapter 1: Corus Entertainment, Retained Earnings, Payroll Tax

55 views10 pages

lemonelephant819

13 Apr 2016

School

Department

Course

Professor

For unlimited access to Textbook Notes, a Class+ subscription is required.

azizs2026mac and 38565 others unlocked

MGAB01H3 Full Course Notes

Verified Note

16 documents

Document Summary

Net earnings disregarding income taxes for september is 41400. E1-6: net earnings: 14760, shareholders" equity : 71200, total revenues: 88980 , total liabilities: 28870, net loss: -7170, shareholders" equity: 28000. D)total expenses: 36910 , total assets: 96570: net earnings: 6120 , total assets: 105100. Retained earnings = net earningd for 2014 - dividends fpr 2014. + net earnings for 2015 - dividends for 2015. = 31000 - 14200 + 42 000 -18700. Thus the only way to accurately depict that is to report them as an expense: interest is not an asset and it can"t be considered a liability because it isn"t exactly paying for any assets. Cash paid to purchase property, plant and equip. Cash paid to sell propety, plant and equip. 46000: william needs to be able to monitor his businesses progress, thus it is impertive that he continues to produce.

Related Questions

Below you will find selected information (in millions) fromCoca-Cola Co.âs 2012 Annual Report.

Income Taxes Payable	$471
Short-term Investments and Marketable Securities	8,109
Cash	8,442
Other non-current Liabilities	10,449
Common Stock	1,760
Receivables	4,812
Other Current Assets	2,973
Long-term Investments	10,448
Other Non-current Assets	3,585
Property, Plant and Equipment	23,486
Trademarks	6,527
Other Intangible Assets	20,810
Allowance for Doubtful Accounts	53
Accumulated Depreciation	9,010
Accounts Payable	8,680
Short Term Notes Payable	17,874
Prepaid Expenses	2,781
Other Current Liabilities	796
Long-Term Liabilities	14,736
Paid-in-Capital in Excess of Par Value	11,379
Retained Earnings	55,038
Inventories	3,264
Treasury Stock	35,009

Other information taken from the Annual Report.

Sales Revenue for 2012	$48,017
Cost of Goods Sold for 2012	19,053
Net Income for 2012	9,019
Inventory Balance on 12/31/11	3,092
Net Accounts Receivable Balance on 12/31/11	4,920
Total Assets on 12/31/11	79,974
Equity Balance on 12/31/11	31,921

lavendergrasshopper535

Below you will find selected information (in millions) fromCoca-Cola Co.âs 2012 Annual Report.

Income Taxes Payable	$471
Short-term Investments and Marketable Securities	8,109
Cash	8,442
Other non-current Liabilities	10,449
Common Stock	1,760
Receivables	4,812
Other Current Assets	2,973
Long-term Investments	10,448
Other Non-current Assets	3,585
Property, Plant and Equipment	23,486
Trademarks	6,527
Other Intangible Assets	20,810
Allowance for Doubtful Accounts	53
Accumulated Depreciation	9,010
Accounts Payable	8,680
Short Term Notes Payable	17,874
Prepaid Expenses	2,781
Other Current Liabilities	796
Long-Term Liabilities	14,736
Paid-in-Capital in Excess of Par Value	11,379
Retained Earnings	55,038
Inventories	3,264
Treasury Stock	35,009

Other information taken from the Annual Report.

Sales Revenue for 2012	$48,017
Cost of Goods Sold for 2012	19,053
Net Income for 2012	9,019
Inventory Balance on 12/31/11	3,092
Net Accounts Receivable Balance on 12/31/11	4,920
Total Assets on 12/31/11	79,974
Equity Balance on 12/31/11	31,921

Required: 1: Using the information provided prepare a BalanceSheet. Separate the current assets from non-current assets andprovide a total for each. Also, separate the current liabilitiesfrom the non-current liabilities and provide a total foreach.
2: Using the Balance Sheet from your answer above, calculate theCurrent Ratio and Return on common stockholdersâ equity.

scarlettermite353

Current Ration

Calculate the current ratiofor Smith & Son Inc for 2015 and 2015 and comment on thecompanyâs working capital position. Did the companyâs ability topay its current liabilities improve over the two year?

Current ration = Current Assets/Currentliabilities

Smith & Sons,Inc
Balance Sheet
Decemober 31, 2016 and2015
(In millions)	2016	2015
Assets
Current assets
Cash and cash equivalents	200	400
Accounts receivable	900	800
Inventory	500	650
Other Current assets	400	250
Total Current assets	2000	2100

Property, plant &equipment (net)	2,600	2,500
Other Assets	5,700	5,900
Total assets	10,300	10,500

Labilities and Stockholders'eEquity
Current Liabilites	3,000	2,900
Long-term liabilities	5,000	5,400
Total Labilities	8,000	8,300
Stockholders'sequity-common	2,300	2,200
Total Labilities andStockholders' Equity	10,300	10,500

scarletbear377

MGAB01H3 Chapter Notes - Chapter 1: Corus Entertainment, Retained Earnings, Payroll Tax

MGAB01H3 Full Course Notes

Document Summary

Get access

Related Documents

MGAB01H3 Chapter Notes - Chapter 2: Current Liability, Retained Earnings, Accounting Information System

MGAB01H3 Chapter Notes - Chapter 2: Current Asset, Intangible Asset, Historical Cost

MGAB01H3 Chapter Notes - Chapter 1: Securities Commission, Financial Statement, International Financial Reporting Standards

Related Questions