Sunday, April 11, 2021

4) ACCT2060 Flashcards | Quizlet

zack April 11, 2021 No comments

For investors, the balance sheet is an important financial statement that should be interpreted when considering an investment in a company. The balance sheet is a reflection of the assets ownedA balance sheet gives a snapshot of your financials at a particular moment, incorporating every journal entry since your company launched. It shows what your business owns (assets), what it owes (liabilities) , and what money is left over for the owners (owner's equity) .Given the following Year 12 balance sheet data for a footwear company: Based on the above figures and the formula for calculating the debt-assets ratio found on the Help screen for p. 5 of the Footwear Industry Report, the company's debt-assets ratio (where debt is defined to include both short-term and long-term debt) isGiven the following Year 12 balance sheet data for a footwear company: Balance Sheet Data Cash on Hand Total Current Assets Total Fixed Assets Total Assets Accounts Payable Overdraft Loan Payable 1-Year Bank Loan Payable Current Portion of Long-Term Bank Loans Total Current Liabilities Long-Term Bank Loans Outstanding Total Liabilities $10,000 150,000 250,000 $400,000 $20,000 5,000 17,000Generally, investors and creditors look at the balance sheet of the company to understand how effectively a company will use its resources and how much it can give in return. Though the balance sheet can be prepared at any time, it is mostly prepared at the end of the accounting period. The balance sheet can be created at any time.

Understanding a Balance sheet (Definition and Examples

Given the following Year 12 balance sheet data for a footwear company: Balance Sheet Data Cash on Hand 2,000 Total Current Assets 78,000 Total Assets 315,000 Overdraft Loan Payable 4,000 1- Year...Given the following Year 12 balance sheet data for a footwear company: Balance Sheet Data Cash on Hand Total Current Assets Total Fixed Assets Total Assets Accounts Payable Overdraft Loan Payable 1-Year Bank Loan Payable Current Portion of Long-Term Bank Loans Total Current Liabilities Long-Term Bank Loans Outstanding Total Liabilities Year 11 Year 12 Shareholder Equity: Balance Change CommonBelow is Apple's balance sheet, as of the end of their fiscal year for 2017, from their annual 10K statement. We can see how the balance sheet balances by the following: Total assets were $375Given the following Year 12 Financial Statement data for a footwear company: Income Statement Data: Income Statement Revenues from Footwear Sales. $350,000 Operating Profit (Loss). $100,000 Net Profit (Loss). $63,000 Balance Sheet Data: Cash on Hand. $10,000 Total Current Assets $70,000 Total Assets. $313,000 Overdraft Loan Payable. $5,000

ATTACHMENT: BSG Quiz 2 - SchoolSolver.com

1 Answer to Given the following Year 12 balance sheet data for a footwear company: Balance Sheet Data Cash on Hand 10,000 Total Current Assets $ 70,000 Total Assets 280,000 Overdraft Loan Payable 5,000 1-Year Bank Loan Payable 10,000 Current Portion of Long-Term Loans 17,000 Total Current Liabilities 48,000...The balance sheet show in the video is the simplified version we learned at the beginning of the course. If you look at the balance sheets produced by companies now, they are a little more detailed. A classified balance sheet adds groupings and subtotals to make the balance sheet easier for investors to read and analyze. The balance sheet caniven the following Year 12 balance sheet data for a footwear company: Balance Sheet Data Cash on Hand 10,000 Total Current Assets $ 70,000 Total Assets 280,000 Overdraft Loan Payable 5,000 1-Year Bank Loan Payable 10,000 Current Portion of Long-Term Loans 17,000 Total Current Liabilities 48,000 Long-Term Bank Loans Outstanding 90,000 Shareholder Equity: Year 11 Balance Year 12 ChangeThe balance sheets at the end of each of the first two years of a company's operations indicate the following: Year 2 Year 1 Total current assets $600,000 $580,000 Total investments 80,000 40,000 Total property, plant, and equipment 935,000 755,000 Total current liabilities 175,000 155,000 Total long-term liabilities 350,000 250,000Given the following Year 12 balance sheet data for a footwear company Balance Sheet Data 0,000 Cash on Hand Total Current Assets Total Fixed Assets Total Assets Accounts Payable Overdraft Loan Payable 1-Year Bank Loan Payable Current Portion of Long-Term Bank Loans Total Current Liabilities Long-Term Bank Loans Outstanding Total Liabilities 100,000 $350,000 $ 20,000 5,000 42,000 98,000 140,000

Based on knowledge on both the Help screens for the Plant Operations Report and the Private-Label Sales Report, which of the following statements referring to how plant costs are allotted between branded and private-label footwear is fake?

Annual depreciation prices are allocated between branded production and private-label manufacturing according to their respective percentages of overall pairs produced—thus, if 85% of the total pairs produced at a plant are branded then 85% of annual depreciation costs are allotted to branded production.

The general amount the company spends for production-run set-up is allotted between branded production and private-label manufacturing according to their respective percentages of total pairs produced—thus, if 80% of the overall pairs produced at a plant are branded then 80% of general production run set-up prices are allotted to branded production.

Total plant maintenance prices are allocated between branded manufacturing and private-label production in step with their respective percentages of total pairs produced—thus, if 90% of the total pairs produced at a plant are branded then 90% of total plant repairs costs are allotted to branded production.

The total quantity the company spends for best possible practices coaching is allotted between branded production and private-label manufacturing consistent with their respective percentages of total pairs produced—thus, if 88% of the total pairs produced at a plant are branded then 88% of best practices training costs are allotted to branded manufacturing.

Annual plant supervision costs are allocated between branded production and private-label production according to their respective percentages of general pairs produced—thus, if 95% of the total pairs produced at a plant are branded then 95% of annual plant supervision prices are allocated to branded manufacturing.