Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1)What is the Net Plant and Equipment in 1998 and 1999? 2)Calculate the Cash balance in 1998 and 1999? 3)What is the firms Net Income

image text in transcribed

1)What is the Net Plant and Equipment in 1998 and 1999?

2)Calculate the Cash balance in 1998 and 1999?

3)What is the firms Net Income in 1998 and 1999?

4)What is the quick ratio in 1998 and 1999?

| 1998 > > 1999 } } } } Notes Payable $250,000 $220,000 - T Inventories> $530,000 $490,000 Long-term Investment (Long-term Asset) $70,000 $80,000 Sales> > $2,500,000> > $2,900,000 || Corporate Bond (Long-term Debt) $580,000 $650,000T Annual Depreciation - - - - $100,000 $110,000 | Excess Paid in Capital - - - - $100,000 - - $130,0001 Taxes - - - - - - $70,000 - - $90,000 Cash>> > > > ???? Accumulated Depreciation - $200,000 $310,000|| Accounts Payable> > > $540,000 > > $500,000T Costs of Good Sold $1,600,000> > $1,900,000T Interest Expenses- - - - - $80,000 - - $90,000 Retained Earnings> - $180,000 > > $210,000 Common Stock-> - - - - $100,000 - - $150,000 Gross Plant & Equipment $1,000,000> > $1,310,0001 Seling & Administrative Expense - - $300,000 > > $450,000 Accounts Receivable $180,000 $230,0001 | Marketable Securities $20,000 - - $20,000 Accrued Expenses > $70,000 $50,000T | Total Shares Outstanding 100,000 150,0001 | R&D Expense $170,000 $190,000 | } } } } }

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Understanding Financial Accounting

Authors: Christopher Burnley, Robert Hoskin, Maureen Fizzell, Donald

1st Canadian Edition

1118849388, 9781119048572, 978-1118849385

More Books

Students also viewed these Accounting questions

Question

Who responds to your customers complaint letters?

Answered: 1 week ago

Question

Under what circumstances do your customers write complaint letters?

Answered: 1 week ago