Tomson Corporation 2013 and 2014 Statement of Financial Position Assets Liabilities 2013 2014 2013 2014 Current...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Tomson Corporation 2013 and 2014 Statement of Financial Position Assets Liabilities 2013 2014 2013 2014 Current Assets Current Liabilities $ 8,436 $ 10,157 A/P 23,406 Notes Payable 42.650 S 76,213 Total $ 43,050 18.384 $ 46,821 17.382 Cash A/R 21,530 38,760 $ 68.726 Inventory $ 61.434 $ 25.000 S 64.203 $ 32,000 Total Long-term Debt Owner's Equity Common Stock & $ 40,000 188.316 Paid-in Surplus 40,000 168.998 Retained Earnings $ 226.706 S. 295.432 $ 248.306 Total $ 208.998 $ 228.316 Net Plant & Equip Total Liabilities & S 324,519 Owners Equity $ 295.432 Total Assets S.324.519 1. Prepare: The 2014 combined common-size, common-base year statement of financial position for Tomson. Round your intermediate calculations to 2 decimal places and final answers to 4 decimal places. 2. Calculate: 1. The current ratio for each year 2. The quick ratio for each year 3. The cash ratio for each year 4. The NWC to total assets ratio for each year 5. The debt-equity ratio and the equity multiplier for each year 6. The total debt ratio and the long-term debt ratio for each year Tomson Corporation 2013 and 2014 Statement of Financial Position Assets Liabilities 2013 2014 2013 2014 Current Assets Current Liabilities $ 8,436 $ 10,157 A/P 23,406 Notes Payable 42.650 S 76,213 Total $ 43,050 18.384 $ 46,821 17.382 Cash A/R 21,530 38,760 $ 68.726 Inventory $ 61.434 $ 25.000 S 64.203 $ 32,000 Total Long-term Debt Owner's Equity Common Stock & $ 40,000 188.316 Paid-in Surplus 40,000 168.998 Retained Earnings $ 226.706 S. 295.432 $ 248.306 Total $ 208.998 $ 228.316 Net Plant & Equip Total Liabilities & S 324,519 Owners Equity $ 295.432 Total Assets S.324.519 1. Prepare: The 2014 combined common-size, common-base year statement of financial position for Tomson. Round your intermediate calculations to 2 decimal places and final answers to 4 decimal places. 2. Calculate: 1. The current ratio for each year 2. The quick ratio for each year 3. The cash ratio for each year 4. The NWC to total assets ratio for each year 5. The debt-equity ratio and the equity multiplier for each year 6. The total debt ratio and the long-term debt ratio for each year
Expert Answer:
Answer rating: 100% (QA)
Balance Sheet Amount commonsize combined 2013 2014 2013 2014 2013 2014 assets current assets cash 8436 10157 28555 31299 12040 10961 AR 21530 23406 72... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Statement of Financial Position Preparation Presented below are a number of statement of financial position items for Montoya. Inc., for the current year, 2010. Instructions Prepare a classified...
-
Statement of financial position items for Montoya Inc. follow for the current year, 2014: Instructions (a) Prepare a classified statement of financial position in good form. The numbers of authorized...
-
A comparative statement of financial position for Carmichael Industries Inc. follows: Additional information: 1. Net income for the fiscal year ending December 31, 2014, was $ 129,000. 2. Cash...
-
3. Given the recurrence relation: Calculate T(n) for n= 1.2.3.4.5. 12 T(n) T(n)= 3T ([n/2])+ 2m +1 T(0) 0 1 2 3 4 5 [10 pts
-
Refer to the simple linear regression analysis relating y = drug release rate to x = surface-area-to-volume ratio, Exercise 11.17. Use the results of the regression to form a 90% confidence interval...
-
Determine the angular velocity of link BC for the instant indicated. In case (a), the center O of the disk is a fixed pivot, while in case (b), the disk rolls without slipping on the horizontal...
-
A mixture of \(\mathrm{H}_{2}\) and \(\mathrm{D}_{2}\) is contained in two bulbs connected by a porous plug. The bulbs are maintained at different temperatures of 200 and \(600 \mathrm{~K}\). The...
-
On January 4, 2013, Runyan Bakery paid $324 million for 10 million shares of Lavery Labeling Company common stock . The investment represents a 30% interest in the net assets of Lavery and gave...
-
Dana's Ribbon World makes award rosettes. Following is information about the company: Variable cost per rosette Sales price per rosette Total fixed costs per month Required: $ 2.00 5.00 1500.00 1....
-
Susan Jones would like her investment portfolio to be selected from a combination of three stocks Alpha, Beta, and Gamma. Let variables A, B, and G denote the percentages of the portfolio devoted to...
-
The given circle is of center A(-1,1) and B(3.4) is a point on the circle. The radius is AB = Select... The circumference of the circle is Select... to the nearest tenth. The area of the circle is...
-
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 A Ready B Journal entry: Calculate the taxable income/tax loss and the current tax...
-
LOS REYES HOSPITAL Preparing this budget requires many assumptions that I'm not the least bit qualified to make. If the hospi- tal is to have something that's realistic, I'm going to have to involve...
-
Use the exhibits in the Excel file to prepare a six-month budget. Use the blanks tab in the Excel file to prepare: a. Sales budget b. Production budget (note: ending inventory should be 300 units 20%...
-
The text discusses some of the factors necessary for a bargaining cooperative to be effective.Read or skim the "Next Big Thing" in the Rural Cooperative magazine edition on Canvas. Which of the...
-
Horizontal Analysis Using 2013 and 2012 data, prepare a horizontal analysis of the balance sheet, statement of operations, and change in net assets. Use the financial statements that are provided in...
-
What algebraic expression must be subtracted from the sum of y^(2)+5y-1 and 3y^(2)-2y+4 to give 2y^(2)+7y-2 as the result?
-
Charles owns an office building and land that are used in his trade or business. The office building and land were acquired in 1978 for $800,000 and $100,000, respectively. During the current year,...
-
Adjusting and Closing Presented on the next page is the trial balance of the Crestwood Golf Club, Inc. as of December 31. The books are closed annually on December 31. Instructions (a) Enter the...
-
Income Statement Presentation The financial records of Dunbar Inc, were destroyed by fire at the end of 2010. Fortunately, the controller had kept certain statistical data related to the income...
-
What are two ways that other comprehensive income may be displayed (reported)?
-
The chief goal of the private sector is effciency.Why? The primary focus of the public sector is equity. Why? It is quite possible to be highly effcient yet ineffective. It is also possible to be...
-
Why is healthcare reform such a contentious issue in the United States? Why have public and private efforts been unsuccessful in fully addressing the challenge of affordable health care? What role(s)...
-
Drawing on economic theory, what kinds of market failure underlie the worlds most pressing problems? Examine three examples: hunger, groundwater contamination, and literacy.
Study smarter with the SolutionInn App