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Listed below are year-end account balances (in thousands of $) of 31.12.21 from XYZ Corporation's records. XYZ Company Adjusted trial balance 31 December 2021 debt

Listed below are year-end account balances (in thousands of $) of 31.12.21 from XYZ Corporation's records.

XYZ Company

Adjusted trial balance

31 December 2021


debt


Credit

Accounts receivable

700



Bina

480



Equipment

375



in advance

125



Inventory

90



Kara

300



notes receivable

530



Investments

330



Prepaid rent (for the next 2 years)

50



Supply

20



So

50



Prepaid Insurance (for the next 3 years)

90



Accounts payable



620

Accumulated depreciation - Equipment



225

Accumulated depreciation - Buildings



180

Total equity



1110

Debt payable



50

Income tax payable



80

Allowance for suspicious accounts



55

Notes payable



600

Interest payable



60

deferred income



160

TOTALS

3.140


3.140

Additional information and requirements:

Additional Information:

1. Land includes $125,000 of land held for a potential factory site and $175,000 of land for existing factory site.

2. The maturity of notes receivable is 2023. The $530 balance includes $30 accrued interest. The next interest payment will be made in July 2022.

3. Investments include $70,000 treasury bills purchased in November 2021 and due in January 2022; $100 of commercial securities expected to be sold within the next year. The balance represents securities that are expected to be held for more than one year.

4. As of 12/31/21, Shareholder equity has issued common stock with a nominal value of $1.00, 300,000 authorized shares and 150,000 shares at an average price of $4.50. The remaining balance in equity is retained earnings.

5. Note payable represents a 12% promissory note with interest paid annually on February 28. The promissory note expires in installments of $100 as of 28/2/22.

6. Deferred income will be recognized equally over the next 24 months.


1.) Prepare a classified balance sheet for XYZ Corporation as of December 31, 2021. Complete the balance sheet questions.


  1. Net accounts receivable ________________________
  2. Total current assets ________________________
  3. Total investments (long term) ________________________
  4. Net Buildings ________________________
  5. Toplam PP&E, net ________________________
  6. Total intangible assets ________________________
  7. Total other assets ________________________
  8. Total Assets ________________________
  9. Total current responsibilities ________________________
  10. Total Long-Term Liabilities ________________________
  11. Stock ___________


2.) Calculate the below ratios:

find ratio =


Debt to equity ratio =


Acid test (quick) rate =


working capital =

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