Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

WESTON ENTERPRISES 2019 and 2020 Partial Balance Sheets Assets Liabilities and Owners Equity 2019 2020 2019 2020 Current assets $ 1,253 $ 1,308 Current liabilities

WESTON ENTERPRISES 2019 and 2020 Partial Balance Sheets Assets Liabilities and Owners Equity 2019 2020 2019 2020 Current assets $ 1,253 $ 1,308 Current liabilities $ 571 $ 602 Net fixed assets 5,782 6,023 Long-term debt 3,232 3,495 WESTON ENTERPRISES 2020 Income Statement Sales $ 17,547 Costs 5,209 Depreciation 1,536 Interest paid 714

a. What was owners' equity for 2019 and 2020? (Do not round intermediate calculations.)

b. What was the change in net working capital for 2020? (Do not round intermediate calculations.)

c-1. In 2020, the company purchased $3,114 in new fixed assets. How much in fixed assets did the company sell? (Do not round intermediate calculations.)

c-2. In 2020, the company purchased $3,114 in new fixed assets. What was the cash flow from assets for the year? The tax rate is 21 percent. (Do not round intermediate calculations.)

d-1. During 2020, the company raised $777 in new long-term debt. How much long-term debt must the company have paid off during the year? (Do not round intermediate calculations.)

d-2. During 2020, the company raised $777 in new long-term debt. What was the cash flow to creditors? (Do not round intermediate calculations.)

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

Islamic Finance Law Economics And Practice

Authors: Mahmoud A. El-Gamal

1st Edition

0521864143,0511218117

More Books

Students also viewed these Finance questions