The following financial information is from Cook Company: Accounts Payable $ 55,000 Land $ 90,000 Inventory $ 10,500 Accounts Receivable $ 7,500 Equipment $ 8,000 Deferred Revenue $ 58,500 Short-Term Investments $ 20,000 Notes Receivable (due in 8 months) $ 45,500 Interest Payable $ 2,000 Patents $ 75,000 What is the total amount of property, plant, and equipment assuming the accounts above reflect normal activity?

The following financial information is from Cook Company: Accounts Payable $ 55,000 Land $ 90,000 Inventory $ 10,500 Accounts Receivable $ 7,500 Equipment $ 8,000 Deferred Revenue $ 58,500 Short-Term Investments $ 20,000 Notes Receivable (due in 8 months) $ 45,500 Interest Payable $ 2,000 Patents $ 75,000 What is the total amount of property, plant, and equipment assuming the accounts above reflect normal activity?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 44E: Whalen Company had net sales of 125,500,250,000. Whalen had the following balances: Required: Note:...

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Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
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Consider the following financial data for Terry Enterprises: Balance Sheet as of December 31, 2018 Cash $ 86,000 Accounts payable $ 15,500 Accts. receivable 91,500 Notes payable 93,500 Inventories 65,500 Accruals 19,500 Total current assets $ 243,000 Total current liabilities $ 128,500 Long-term debt 162,500 Net plant & equip. 419,500 Common equity 371,500 Total assets $ 662,500 Total liab. & equity $ 662,500 Statement of Earnings for 2018 Industry Average Ratios Net sales $ 642,500 Current ratio 2.2× Cost of goods sold 482,000 Quick ratio 1.7× Gross profit $ 160,500 Days sales outstanding 44 days Operating expenses 119,500 Inventory turnover 6.7× EBIT $ 41,000 Total asset turnover 0.6× Interest expense 14,500 Net profit margin 7.2% Pre-tax earnings $ 26,500…
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Accounts Payable	$	55,000
Land	$	90,000
Inventory	$	10,500
Accounts Receivable	$	7,500
Equipment	$	8,000
Deferred Revenue	$	58,500
Short-Term Investments	$	20,000
Notes Receivable (due in 8 months)	$	45,500
Interest Payable	$	2,000
Patents	$	75,000