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hi I need help answering the following questions The chief accountant for Julius Co provides you with the company's most recent income statement and comparative
hi I need help answering the following questions
The chief accountant for Julius Co provides you with the company's most recent income statement and comparative balance sheets below. The accountant has asked for your help in preparing part of the company's 2021 statement of cash flows. 2021 Income Statement in thousands) Sales revenue $5,560 Depreciation expense 40 Selling & administrative expense 3,840 4,240 Income before taxes 1,120 Income tax expense Net income 5 336 784 Balance Sheet (all in thousands) Cash Accounts receivable Property, plant equipment Less Accumulated depreciation 12/31/21 12/31/20 $ 574 445 (900) (500) 28 Accrued liabilities for selling inistration expense Income taxes payable Coenon stock Retained earnings 121 128 10 222 $ 2,051 $2,42 Required Determine the cash flow from operating activities for Julius Cousing the direct method (Enter your answers in thousands of dollars.) Cach tow trum Operating actvities The condensed balance sheet and income statement for Marjoram Company are presented below. MARJORAM COMPANY Balance Sheet At December 31, 2021 Cash $ 20,500 Notes receivable (due August 15, 2022) 32,000 Accounts receivable (net) 49,000 Merchandise inventory 71,500 Property, plant, and equipment (net) 265,000 Intangible assets 13,000 Total assets 3451,000 Current liabilities $104,400 Bonds payable(128) (long-tera) 115.000 Common stock 73.000 Retained earnings 158.600 Total liabilities and equity 3451,000 MARJORAM COMPANY Incore Statement For the Year ended December 31, 2021 Sales Cost of toods sold Gross profit Operating expenses Operating Score Interest experte Incone before incont Income tax expense Net Income 749,000 42,400 5311,600 169,00 5141,00 12.00 5128.00 $ 0.00 Required: Compute the return on shareholders equity ratio for Marjoram Company. (Round your percentage answer to nearest whole percent.) Helmon rendere Adam Baum Company borrowed $55.000 from B A Ware on January 1, 2021, and signed a three-year, 5% Installment note to be paid in three equal payments at the end of each year. The present value of an ordinary annuity of $1 for 3 periods at 5% is 272325. Required: Calculate the amount of one Installment payment. (Round your final answer to the nearest whole dollar) Installment payment Step by Step Solution
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