Prepare the 2018 and 2019 common-size balance sheets for Bethesda Mining. Bethesda Mining Company reports the following
Question:
Prepare the 2018 and 2019 common-size balance sheets for Bethesda Mining.
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019.
Transcribed Image Text:
BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Liabilities and Owners' Equity Assets Current assets Current liabilities $ 21,182 $ 24,141 Accounts payable $180,108 $190,767 Cash Notes payable 51,036 59,935 83,179 $263,287 Accounts receivable 98,175 $288,942 Inventory Total 120,589 142,718 $192,807 $226,794 $305,000 $340,000 Total Long-term debt Owners' equity Common stock and pai $165,000 $178,000 surplus Accumulated retained earnings Fixed assets 235,445 283,578 $775,925 $863,726 $1,090,520 $400,445 $968,732 $461,578 $1,090,520 Net plant and equipment Total $968,732 Total liabilities and owners' equity Total assets
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (12 reviews)
To calculate the commonsize balance sheet we divide each asset account by total assets and each liab...View the full answer
Answered By
Rishabh Ojha
During my undergraduate i used to participate as TA (Teaching Assistant) in several electronics and computers subject. I'm passionate about learning Computer Science as my bachelors are in Electronics but i learnt most of the Computer Science subjects on my own which Machine Learning also. At Present, i'm a working professional pursuing my career as a Machine Learning Engineer and i want to help others learn during my free hours, that's all the motivation behind giving tuition. To be frank i have no prior experience of tutoring but i have solved problems on opensource platforms like StackOverflow and github. ~Thanks
4.90+
3+ Reviews
10+ Question Solved
Related Book For
Essentials of Corporate Finance
ISBN: 978-1260013955
10th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
Question Posted:
Students also viewed these Business questions
-
Prepare the 2009 and 2010 common size balance sheets for Bethesda Mining. BETHESDA MINING COMPANY Balance Sheets as of December 31, 2009 and 2010 2009 2010 2009 2010 Liabilities and Owners' Equity...
-
The financial statements for Richardson Socks Company follow. Richardson Socks Company Consolidated Income Statement s (In thousands except per share data) Richardson Socks Company Consolidated...
-
Consolidated balance sheets for Winged Manufacturing follow. Winged Manufacturing Consolidated Balance Sheets (Dollars in thousands) Required: 1. Prepare common size balance sheets for vertical...
-
The substitution u=sin(x) is suitable to evaluate the integral cosx sin 3x O True O False
-
Describe three naturally occurring ways that chromosome number can change.
-
For each of the following, diagnose which type of economic shock has hit the economy: a. You hear a radio report noting that the recession appears to have ended. It says that while output remains...
-
E 6-9 Depreciable asset downstream sale On July 1, 2013, Fatou SA sells equipment to Baba SA, its 75 percent-owned subsidiary, for $6,000,000. The equipment has a book value of $4,500,000 at this...
-
1. Identify the different forms of ownership that might be adopted by MUFC and how these might lead to different expectations. 2. Identify the main stakeholder groups involved in MUFC and using...
-
Craft Company reports the following partial activity - based costing information for its Deluxe model. Complete the table by entering amounts for the missing items. Note: Round "Overhead per unit" to...
-
Do you think there is a contradiction between what employers want in employees (agreeable employees) and what employees actually do best (disagreeable employees)? Why or why not? Agreeable people...
-
Assuming the following ratios are constant, what is the sustainable growth rate? Total asset turnover =2.95 Profit margin =5.9% Equity multiplier =1.31 Payout ratio =40%
-
Based on the balance sheets given for Bethesda Mining, calculate the following financial ratios for each year:a. Current ratiob. Quick ratioc. Cash ratiod. Debt-equity ratio and equity...
-
Reports in the media about stem cells usually state that they turn into any kind of cell in the body. Explain why this statement is only partially correct, including a description of how a stem cell...
-
firm c has net income of 45,360 , asset turnover of 1.4 and roi 12.6% calculate firms margin,sales and average total assets
-
A poll of 1065 Americans showed that 47.2% of the respondents prefer to watch the news rather than read or listen to it. Use those results with a 0.10 significance level to test the claim that fewer...
-
Garcia Industries uses a cost system that carries direct materials inventory at a standard cost. The controller has established these standards for the cost of one unit: Standard Quantity X Standard...
-
Express the confidence interval 0.255 0.046 in the form of p-E
-
5 28 its Jay Oullette, CEO of Bumper to Bumper Incorporated, anticipates that his company's year-end balance sheet will show current assets of $12,801 and current liabilities of $7,540. Oullette has...
-
An athletics club has 10 long distance runners, 8 sprinters and 5 jumpers. A team of 3 long distance runners, 5 sprinters and 2 jumpers is to be selected. Find the number of ways in which the team...
-
Use of the contraceptive Depo Provera appears to triple women's risk of infection with chlamydia and gonorrhea , a study reports today. An estimated 20 million to 30 million women worldwide use Depo...
-
Bond Market what are the implications for bond investors of the lack of transparency in the bond market?
-
Rating Agencies A controversy erupted regarding bond-rating agencies when some agencies began to provide unsolicited bond ratings. Why do you think this is controversial?
-
Rating Agencies A controversy erupted regarding bond-rating agencies when some agencies began to provide unsolicited bond ratings. Why do you think this is controversial?
-
The following information is provided by Garden Gears for a new product it recently introduced: Total unit cost $50 Desired ROI per unit $22 Target selling price $72 How much is Garden Gears'...
-
Solid bank loan P5 million to a borrower on January 1, 2018. The terms of the loan require principal payments of P1 million each year for five years plus interest at 8%. The first principal and...
-
3) Assuming annual sales of $250,000 and a 50% gross (contribution) margin, calculate the following a. Average collection period if ending receivables total $45,000 b. Ending days-on-hand of...
Study smarter with the SolutionInn App