Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. name 20x1 20x2 cash common stock accounts receivab

Name 20X1 20x2 Cash Common Stock Accounts Receivable Retained earnings Inventories Prepaid Expenses Land Building...

60.1K

Verified Solution

Question

Accounting

image
Name 20X1 20x2 Cash Common Stock Accounts Receivable Retained earnings Inventories Prepaid Expenses Land Building China, Glass, etc. Accumulated depreciation Deferred income taxes ---Current Accounts payable Long-term debt Current portion of long-term debt Accrued Expense Marketable Securities 18,000 21,000 255,587 313,420 15,000 7,600 200,000 160,000 15,650 32,000 3,500 3,320 150,000 150,000 1,008,000 1,008,000 300,000 350,000 460,263 560,000 8,500 8,400 14,000 16,000 560,000 500,000 21,000 18,000 2,000 2,100 11,200 6,000 Required 1) Rearrange the Accounts order following the Balance Sheet Format 2) Calculate the sub-total for each category accounts on the Balance sheet 3) Calculate net working capital for 20x1 and 20x2 4) Calculate the amount change and percentage changes from 20x1 to 20x2. 5) Calculate the following ratio Current Ratio Acid Test Ratio A/R turn-over Ratio and Avg collection period Solvency Ratio Debt to Equity Ratio Profit Margin (Assume the 2001 Revenue 1,300,000, profit is 65,000, Operating Cash flow is 201,000. 2002 Revenue 1,090,000, profit is 472,000, operating cash flow is $192,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students