From the following balance sheet accounts: a. Construct a balance sheet for 2013 and 2014 b. List
Question:
From the following balance sheet accounts:
a. Construct a balance sheet for 2013 and 2014
b. List all the working capital accounts
c. Find the net working capital for the years ending 2013 and 2014
d. Calculate the change in net working capital for the year 2014.
Transcribed Image Text:
Balance Sheet Accounts of Athens Corporation Balance 12/31/2014 $4,866 Account Balance 12/31/2013 $4,234 Accumulated Depreciation Accounts Payable $2,900 $3,160 $1,210 $3,210 Accounts Receivable $1,490 Cash $4,778 $4,347 Common Stock $7,278 $5,166 $2,430 $9,840 Inventory Long-Term Debt Plant, Property & Equipment Retained Earnings $8,675 $1,880 $2,356
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 46% (13 reviews)
a The Balance Sheets for the two years are Assets 2013 2014 Current Assets Cash 1210 1490 Accounts R...View the full answer
Answered By
Shebla K
I am an MBA graduate having experience as an Assistant Professor at University level for two years. I always prepare well for a class as I believe that only if you become an ocean you can give a bucket of water. Being a teacher was not only my profession but also my passion.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Financial Accounting questions
-
The following balance sheet accounts (in millions of dollars) have been taken from the annual report for a U.S. bank. Arrange the accounts in balance sheet order and determine the value of total...
-
1. Balance sheet. From the following balance sheet accounts in the popup window, a. construct a balance sheet for 2016 and 2017. b. list all the working capital accounto. e. find the net working...
-
The following balance sheet (prepared according to IFRS) was taken from the 2008 annual report of GlaxoSmithKline, a British pharmaceutical company (British pounds in millions). REQUIRED: Identify...
-
A ball is located 8 0 m above the sea level. Its initial velocity is 1 0 0 m/s and the angle between the horizontal is 37 degrees. How long will it take for the ball to hit the surface? g=9.8m/s 2
-
In Figure force F is applied to a crate of mass m on a floor where the coefficient of static friction between crate and floor is ?s. Angle ? is initially 0o but is gradually increased so that the...
-
Discuss the scope of expenditures to which AASB 6/IFRS 6 applies.
-
Mechanical advantage is the ratio of _____ to _____.
-
Selection of most profitable product. Body-Builders, Inc., produces two basic types of weight- lifting equipment, Model 9 and Model 14. Pertinent data are as follows: The weight-lifting craze is such...
-
Case study: Pepto Optimality Pareto efficiency, also known as pareto optimality, is an economic state in which resources connot be redistributed to benefit one individual without harming atleast one...
-
The Sheridan Theater Inc. was recently formed. It began operations in March 2022. The Sheridan is unique in that it will show only triple features of sequential theme movies. On March 1, the ledger...
-
From the income statement accounts below: a. Produce the income statement for the year b. Produce the operating cash flow for the year Income Statement Accounts for the Year Ending 2014 Cost of Goods...
-
From the following income statement accounts a. Produce the income statement for the year b. Produce the operating cash flow for the year Income Statement Accounts for the Year Ending 2014 Cost of...
-
A concave spherical mirror has a radius of curvature of 6.0 cm. A point object is on the axis 9 cm from the mirror. Construct a precise ray diagram showing rays from the object that make angles of 5,...
-
What role does culture play in shaping societal formations and dynamics, as shared beliefs, practices, and cultural artifacts mediate social relations and collective experiences within a given...
-
Explain how Common Notions 1 and 4 may be interpreted as the transitiveand reflexive properties. Also,show that the symmetric property follows from Euclids Common Notions 1 and 4. 1. Things which are...
-
Apple invested 2 million dollars in design plans for the new Apple TV product but the design was never implemented due to external economic issues. Management is currently evaluating whether to...
-
CLIENT ACCEPTANCE/CONTINUANCE We are also discussing CPA firms. The partners, who are also the owners, are involved in client acceptance and continuance decisions. They may delegate some of the...
-
What role do social norms, values, and symbols play in constructing and maintaining the collective identities and shared meanings that define the boundaries and dynamics of societal life?
-
Use the information from BE17.1 but assume the bonds are purchased as an available-for-sale security. Prepare Garfields journal entries for (a) The purchase of the investment, (b) The receipt of...
-
Don Griffin worked as an accountant at a local accounting firm for five years after graduating from university. Recently, he opened his own accounting practice, which he operates as a corporation....
-
Fill in the interest rate for the following table a. Using the interest rate formula, r = (FV/PV)1/n 1 b. Using the time value of money keys or function from a calculator orspreadsheet. | Present...
-
Keiko is looking at the following investment choices and wants to know what interest rate each choice produces. a. Invest $400 and receive $786.86 in ten years. b. Invest $3,000 and receive...
-
Two mutual fund managers, Martha and David, have been bragging about whose fund is the top performer? Martha states that investors bought shares in her mutual fund ten years ago for $21.00 and those...
-
American X wishes to borrow U.S. dollars at a fixed rate of interest. Corporation Y wishes to borrow Japanese Yen at a fixed rate of interest. The amounts required by the two companies are the same...
-
Bunga Raya Kuning Berhad is a Malaysian-based MNC that obtains 12 percent of its supplies from the U.K. manufacturers. Sixty-five percent of its revenues are from due to exports to U.K. where its...
-
Trevor's Tool Shop is considering investing in a new machine. The company currently has $500,000 per year in sales. The company has $265,000 per year in net income. If the company invests in the new...
Study smarter with the SolutionInn App