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Can you check my other attachment as well. Thanks in advance. Thanks for the help. The financial statements of Seldin, Inc., provide the following information
Can you check my other attachment as well. Thanks in advance.
Thanks for the help.
The financial statements of Seldin, Inc., provide the following information for the current year: Accounts receivable Dec. 31 $ 28,000 Jan. 1 $ 33,000 Inventory Prepaid expenses $ 48,000 $ 11,300 $ 44,000 $ 13,300 Accounts payable (for merchandise) Accrued expenses payable $ 26,000 $ 14,300 $ 25,000 $ 19,300 $ 225,000 $ 112,500 Operating expenses (including depreciation of $17,300) $ 73,000 Required information Compute the amount of cash received from customers during the current year. $220,000. $33,000. $230,000. $225,000. Required information Compute the amount of Seldin's cash payments for purchases of merchandise during the current year. $115,500. $130,000. $109,500. $107,500. Required information Compute the amount of Seldin's cash payments for operating expenses. $52,700. $73,000. $66,000. $58,700. Net sales Cost of goods sold Shown below are selected data from the financial statements of Supreme Co. Dollar amounts are in millions (except for the per sha Income statement data: Net sales $ 1,270 Cost of goods sold Operating expenses 530 450 Net income 410 Balance sheet data: Average total equity 2,600 Average total assets 4,200 Supreme reported earnings per share for the year of $3 and paid cash dividends of $3 per share. At yearend, the Wall Street Journa capital stock as trading at $90 per share. Required information Supreme's gross profit rate was: 41.73%. 22.83%. 58.27%. 32.28%. Required information What was Supreme's operating income? (in millions): $740. $410. $530. $290. Required information Supreme's return on assets was: 17.62%. 6.9%. 9.76%. 30.24%. Required information Supreme's return on equity was: 28.46%. 11.15%. 15.77%. 7.40%. Required information Supreme's priceearnings ratio at year end was: 3.00. 100.00. 33.33. 30.00. The Cash account in the ledger of Hensley, Inc. showed a balance of $5,950 at June 30. The bank statement, however, showed a ba same date. The only reconciling items consisted of a $1,300 deposit in transit, a bank service charge of $22, and a large number of What is the "adjusted cash balance" at June 30? $4,650. $5,922. $10,550. $5,928. What is the total amount of the outstanding checks at June 30? _27_2015_QC_CS18645 $3,306 $5,922. $5,900. $4,650. On April 2, 2014, Victor, Inc. acquired a new piece of filtering equipment. The cost of the equipment was $520,000 with a residual end of its estimated useful lifetime of 4 years. Assume that in its financial statements, Victor uses straightline depreciation and rounds depreciation for fractional years to the nea Depreciation recognized on this equipment in 2014 and 2015 will be: $122,500 in 2014 and $122,500 in 2015. $130,000 in 2014 and $97,500 in 2015. $91,875 in 2014 and $122,500 in 2015. $30,000 in 2014 and $122,500 in 2015. Assume that in its financial statements, Victor uses straightline depreciation and the halfyear convention. Depreciation recognized on this equipment in 2014 and 2015 will be: $61,250 in 2014 and $122,500 in 2015. $91,875 in 2014 and $97,500 in 2015. $130,000 in 2014 and $97,500 in 2015. $30,000 in 2014 and $122,500 in 2015. If Victor uses straightline depreciation with the halfyear convention, the book value of the equipment at December 31, 2015 will $367,500. $325,000. $336,250. $275,000. An analysis of changes in selected balance sheet accounts of Johnson Corporation shows the following for the current year: Plant and Equipment accounts: Debit entries to asset accounts Credit entries to asset accounts Debit entries to accumulated depreciation accounts (resulting from sale of plant assets) Credit entries to accumulated depreciation accounts (representing depreciation for the current year) Johnson's income statement for the current year includes a $12,000 loss on disposal of plant assets. All payments and proceeds rela of plant assets were in cash. The amount of cash paid by Johnson to acquire plant assets during the current year was: $40,000. $156,000. $51,000. $261,000. Total cash proceeds received by Johnson from sales of plant assets during the current year amounted to: $221,000. $104,000. $209,000. $15,000. Based solely on the data provided above, Johnson's net cash flow from investing activities for the current year is: $15,000 net cash provided by investing activities. $156,000 net cash used by investing activities. $141,000 net cash used by investing activities. $89,000 net cash used by investing activitiesStep by Step Solution
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