COGS 325,000 373,750 211,250 248,544 9,000 4 EBIT 2,50037,375 41,113 5006,7 42,2
ID: 2818847 • Letter: C
Question
COGS 325,000 373,750 211,250 248,544 9,000 4 EBIT 2,50037,375 41,113 5006,7 42,250 4,275 37,975 EBT Taxes (35%) Net income 36,024 13,291 12,608 24,68423,415 Balance Sheet as of December 31, 2015 Accounts receivable Inventory Current assets 26,000 22,750 Accounts payable Notes payable Current liabilities 46,475 16,2 86,775 Long-term debt Owner's Net fixed assets 174,050 Total assets 291,775 Total liab &equity2 291,775 Balance Sheet as of December 31, 2016 Cash Accounts receivable Inventory Current assets Accounts payable Notes payable Current liabilities 26,163 28,031 103,903 Long-term debt Owner's equity Net fixed assets 223,688 Total assets 20. Operating cash flow for 2016 is? a. Less than $61,000 b. Between $61,000-$63,000 c. Between $63,000-$64,000 d. Over $64,000 21. What is owner's equity for 2016? a. b. C. d. Less than $185,000 Between $185,000 and $190,000 Between $190,000 and $195,000 Greater than $195,000Explanation / Answer
Owner's Equity in 2016 = 174050 + 60% of 23415 = $188099
long term Debt = 5089/4275 * 55000 = $65472
Current liability = 327590 - 188099 - 65472 = $74018
Operation cashflow = net income + depriciation - increase in inventory - increase in account + increase in current liabilites
= 23415 + 37375 - 11684 - 5281 + 11293
= 55118
Ans 20) Correct answer is option A.
Ans 21) Correct answer is option B
Ans 22) correct answer is option B (23415/188099) = 12.4%
Ans 23) Projected asset for 2016 = 145000/150000 * 150000 * 1.1 = $159500
correct answer is option C.
ans 24) net income = $24000
correct answer will be option C.
Ans 25) total asset = 1.1 * 145000 = $159500
total equity = 80000 + 10800 = $90800
total liability = 159500 - 90800 = $68700
total external funding will be = $68700 - $5500 = $63200
correct answer is option C.
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