Current assets $22400 Net income $44500 Stockholders' Current liabilities 13400 66400 equity Average assets 132000 Total liabilities 28600 Total assets 87000 Average common shares outstanding uar 1700n

Current assets $22400 Net income $44500 Stockholders' Current liabilities 13400 66400 equity Average assets 132000 Total liabilities 28600 Total assets 87000 Average common shares outstanding uar 1700n

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter24: Analysis Of Financial Statements

Section: Chapter Questions

Problem 5CE

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Using the following balance sheet and income statement data, what is the debt to assets ratio? $ 2$ Current assets Net income 27000 42200 Stockholders' Current liabilities 15200 79200 equity Average assets 161700 Total liabilities 41400 Total assets 127000 Average common shares outstanding was 16300. O 24 percent 62 percent 33 percent O 11 percent
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II. The following is a comparative balance sheet of ABC Co. for December 31, 2022 and 2021: Cash and cash equivalents Accounts receivable Inventories Investment in bonds at amortized cost Equipment Accumulated depreciation Total Assets Accounts payable Bonds payable, due 2025 Ordinary stock, P20 par Share premium Retained earnings Total Liabilities and Equity Additional information: . 2022 250,000 327,600 822,000 0 . 2,400,000 (700,000) 3,099,600 359,000 0 1,800,000 280,000 660,600 3,099,600 2021 220,000 356,000 780,000 200,000 2,040,000 (760,000) 2,836,000 • Net income for 2022, P545,600. Depreciation reported on income statement, P140,000. Fully depreciated equipment, no salvage value, was scrapped. Equipment was purchased for P560,000. Bonds of P400,000 were retired at their face value. 281,000 400,000 1,600,000 200,000 355,000 2,836,000 10,000 shares of ordinary stock were issued for cash of P28 per share. Cash dividends declared and paid, P240,000 Investment in bonds with carrying…
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