Financial statements for its first year in business

Assignment Help Financial Management
Reference no: EM13880087

In its closing financial statements for its first year in business, ABC Enterprises, had cash of $242, accounts receivable of $850, inventory of $820, net fixed assets of $3,408, accounts payable of $700, short-term notes payable of $740, long-term liabilities of $1,100, common stock of $1,160, retained earnings of $1,620, net sales of $2,768, cost of goods sold of $1,210, depreciation of $360, interest expense of $160, taxes of $312, addition to retained earnings of $508, and dividends paid of $218.

Using the information above create the company's income statement and balance sheet.

Reference no: EM13880087

Questions Cloud

Arguments for rehabilitation and retribution : What are 3 specific differences between the arguments for rehabilitation and retribution? Explain
Why is it so important to obtain a letter of representations : Why is it so important to obtain a letter of representations from an audit client?
What is the companys cost of preferred stock : Tunney Industries can issue perpetual preferred stock at a price of $57.00 a share. The stock would pay a constant annual dividend of $5.00 a share. What is the company's cost of preferred stock, rp?
Determine the cost estimation model : Which of the following would be classified as a discretionary fixed cost - methods of cost estimation utilizes all observations and relies on statistical measures to determine the cost estimation model?
Financial statements for its first year in business : In its closing financial statements for its first year in business, ABC Enterprises, had cash of $242, accounts receivable of $850, inventory of $820, net fixed assets of $3,408, accounts payable of $700, short-term notes payable of $740, long-term l..
Which is the least favorable : Which of the four types of audit reports is the most favorable for an audit client? Which is the least favorable?
Social issues that could be used to support rehabilitation : What are 3 specific philosophical or social issues that could be used to support rehabilitation and retribution
About the after-tax cost of debt without flotation cost : The Heuser Company's currently outstanding bonds have a 10% coupon and a 13% yield to maturity. Heuser believes it could issue new bonds at par that would provide a similar yield to maturity. If its marginal tax rate is 40%, what is Heuser's after-ta..

Reviews

Write a Review

 

Financial Management Questions & Answers

  Q1 nbspnbsp a define agency problem explaining two types of

q1. nbspnbsp a define agency problem explaining two types of agency costs.b comment on the following quote... agency

  Describe the market risk premium and risk-free rate

Please describe the market risk premium, risk-free rate and define beta as they relate to investor and creditor decision making. Please provide your estimation of the current risk-free rate and the source you used to support your estimation. You shou..

  What is the expected rate of return on bunge stock

Bunge Corp. earned $7.75 per share and paid $3.25 in dividends in the year just ended. Bunge’s (trailing) P/E ratio is 9.0. If Bunge dividends are expected to grow at a 5% rate forever, what is the expected rate of return on Bunge stock?

  What is the current price of the bond

What is the current price of the bond if the comparable rate of interest is 8 percent?

  What is the projects operating cash flow for the first year

The financial staff of Cairn Communications has identified the following information for the first year of the roll-out of its new proposed service. What is the project's operating cash flow for the first year

  Method of transferring ownership interest in corporation

A hostile takeover is the main method of transferring ownership interest in a corporation. Unlimited liability and limited life are two key advantages of the corporate form over other forms of business organization. A corporation is a legal entity th..

  Portfolio expected return

You own a portfolio that is 30 percent invested in Stock X, 25 percent in Stock Y, and 45 percent in Stock Z. The expected returns on these three stocks are 9 percent, 18 percent, and 14 percent, respectively. What is the expected return on the portf..

  Current market value of this stock if the required return

Home Care Providers is paying an annual dividend of $1.10 every other year. The last dividend was paid one year ago. The firm will continue this policy until 2 more dividend payments have been paid (i.e. D1=1.1, D2=0 & D3=1.1). One year after the las..

  What is the expected return on a portfolio

A stock has a beta of 1.28 and an expected return of 12.6 percent. A risk-free asset currently earns 4.2 percent. What is the expected return on a portfolio that is equally invested in the two assets? (Do not round intermediate calculations.

  Seed them with dry ice and silver iodine particles

The Russian air force is being called on this year to intercept storms advancing on Moscow and to seed them with dry ice and silver iodine particles. The idea is to make snow drop on villages in the countryside instead of piling up in Moscow.

  Accounting and finance for managers course has paid off

Your grandfather has decided to give you some money, but he wants to see if your Accounting and Finance for Managers course has paid off. He is giving you the choice of (a) $7000 today (b) $10000 in 5 years or (c) $750 semi-annually for 6 years.

  Calculate the expected return and variance of return

Calculate the expected return and variance of return and calculate the expected return and variance of return for a portfolio where 20% of your wealth is invested in AA, 30% in BB, and 50% in CC.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd