Question: Give the right answer Thompson Handyman Services has total assets for the year of $18,400 and total liabilities of $9,050. A) Use the accounting equation to solve for equity. B) If next year's assets increased by $4,300 and equity decreased by $3,850, what would be the amount of total liabilities for Thompson Handyman Services?
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- Using the accounting equation Thompson Handyman Services has total assets for the year of $18,400 and total liabilities of $9,050. Requirements Use the accounting equation to solve for equity. If next year assets increased by $4,300 and equity decreased by $3,850, what would be the amount of total liabilities for Thompson Handyman Services?Using Table 6–13, create a pro forma balance sheet using the percentage of sales method. If net income next year is $50,000, answer the following: How much did the owners take out of the business? What is the profit margin for next year?Using the accounting equation Thompson Handyman Services has total assets for the year of $18,400 and total liabilities of $9,050. Requirements Use the accounting equation to solve for equity. If next year's assets increased by $4,300 and equity decreased by $3,850, what would be the amount of total liabilities for Thompson Handyman Services?
- Hello, how do I solve this problem? I attached the bottom part of the question and what it's asking for since it wouldn't fit in the screenshot. Assuming that total assets were $3,112,000 at the beginning of the current fiscal year, determine the following. When required, round to one decimal place. a. Ratio of fixed assets to long-term liabilities b. Ratio of liabilities to stockholders' equity c. Asset turnover d. Return on total assets % e. Return on stockholders’ equity % f. Return on common stockholders' equity %Question 2Alex is currently considering to invest his money in one of the companies between Company A and Company B. The summarized final accounts of the companies for their last completed financial year are as follows: a. Calculate the following ratios for Company A and Company B. State clearly the formulae used for each ratio: i. Gross Profit Marginii. Net Profit Marginiii. Inventory Turnover Period (days)iv. Receivables Collection Period (days)Refer to the 10-K for Abercrombie & Fitch. Required: 1. What does the company report for the following accounts for the most current fiscal year: Enter your answer in thousands. a. Cash b. Short-term investments (or marketable securities) c. Accounts receivable d. Inventory e. Other current assets f. Accounts payable g. Other current liabilities h. Cash flow from operations A A AA A A 好 2. The company projects the following to occur in the next fiscal year: • Accounts payable will decrease by 25%. • Other current liabilities are expected to increase by 33%. • Cash flow from operations is expected to decrease by 32%. Assume all other items remain unchanged from the prior year. Provide the next year's forecasted balances for the following accounts and cash flow from operations.
- Required: Compute the following: (For Requirements 1 to 4, enter your percentage answers rounded to 2 decimal places (i.e., 0.1234 should be entered as 12.34).) 1. Gross margin percentage. 2. Net profit margin percentage. 3. Return on total assets. 4. Return on equity. 5. Was financial leverage positive or negative for the year? 1. Gross margin percentage % 2. Net profit margin percentage % 3. Return on total assets % 4. Return on equity % 5. Financial LeverageJefferson Handyman Services has total assets for the year of $18,400 and total liabilities of $9,860. Requirements 1. Use the accounting equation to solve for equity. 2. If next year's assets increased by $3,800 and equity decreased by $3,500, what would be the amount of total liabilities for Jefferson Handyman Services? Requirement 1. Use the accounting equation to solve for equity. Begin by solving for the accounting equation. Then use the formula to solve for equity. The company has equity of Requirement 2. If next year's assets increased by $3,800 and equity decreased by $3,500, what would be the amount of total liabilities for Jefferson Handyman Services? The company has liabilities ofAnswer the following questions. Hint. Use the accounting equation. a. At the beginning of the year, Addison Company's assets are $168,000 and its equity is $126,000. During the year, assets increase $80,000 and liabilities increase $44,000. What is the equity at year-end? b. Office Store Company has assets equal to $151,000 and liabilities equal to $118,000 at year-end. What is the equity for Office Store Company at year-end? c. At the beginning of the year, Quaker Company's liabilities equal $55,000. During the year, assets increase by $60,000, and at year-end assets equal $190,000. Liabilities decrease $18,000 during the year. What are the beginning and ending amounts of equity? Complete this question by entering your answers in the tabs below. Required A Required B Required C At the beginning of the year, Addison Company's assets are $168,000 and its equity is $126,000. During the year, assets increase $80,000 and liabilities increase $44,000. What is the equity at year-end?…
- Answer the following questions. Hint. Use the accounting equation. a. At the beginning of the year, Addison Company's assets are $237,000 and its equity is $177,750. During the year, assets increase $80,000 and liabilities increase $56,000. What is the equity at year-end? b. Office Store Company has assets equal to $130,000 and liabilities equal to $98,000 at year-end. What is the equity for Office Store Company at year-end? c. At the beginning of the year, Quaker Company's liabilities equal $41,000. During the year, assets increase by $60,000, and at year- end assets equal $190,000. Liabilities decrease $11,000 during the year. What are the beginning and ending amounts of equity? COS Graw Hill Complete this question by entering your answers in the tabs below. Required A Required B Required C At the beginning of the year, Quaker Company's liabilities equal $41,000. During the year, assets increase by $60,000, and at year-end assets equal $190,000. Liabilities decrease $11,000 during…Answer the following questions. Hint Use the accounting equation. a. At the beginning of the year, Addison Company's assets are $169,000 and its equity is $126,750. During the year, assets increase $80,000 and liabilities increase $60,000. What is the equity at year-end? b. Office Store Company has assets equal to $181,000 and liabilities equal to $154,000 at year-end. What is the equity for Office Store Company at year-end? c. At the beginning of the year, Quaker Company's liabilities equal $50,000. During the year, assets increase by $60,000, and at year-end assets equal $190,000. Liabilities decrease $10,000 during the year. What are the beginning and ending amounts of equity? Complete this question by entering your answers in the tabs below. Required A Required B Required C At the beginning of the year, Addison Company's assets are $169,000 and its equity is $126,750. During the year, assets Increase $80,000 and liabilities increase $60,000. What is the equity at year-end?…Rick’s Travel Service has asked you to help piece together financial information on the firm for the most current year. Managers give you the following information: sales are $7.5 million, total debt is $3.00 million, debt ratio is 55 percent, and ROE is 17.2 percent. Using the above information, calculate Rick’s ROA. (Round your answer to 2 decimal places.) ROA _________ %