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RSB [31]
3 years ago
12

Key numbers that financial managers use to calculate ratios usually come from the firm’s

Business
1 answer:
3241004551 [841]3 years ago
8 0
The answer that fits the blank above would be BALANCE SHEET AND INCOME STATEMENT. The balance sheet serves the copy of the liabilities and assets that a company or firm has recorded for a specific period of time. On the other hand, the income statement shows both the profit and loss that the company has. Therefore, it is based on these two that financial managers are able to calculate ratios.
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Social security and medicare are examples of:____.
artcher [175]

Answer:

c. governmental interventions

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2 years ago
The comparative balance sheets and income statement for Bingky Barnes Inc. are as follows:
MatroZZZ [7]

Answer:

Bingky Barnes Inc.

Statement of Cash Flows for the year ended December 31, Current Year

(using the indirect method)

Operating activities:

Net income                          $11,900

Add non-cash expenses:

Depreciation                          5,400

Adjusted operating            $17,300

Changes in working capital:

Accounts receivable            -3,800

Merchandise inventory       -3,700

Accounts payable               +8,800

Accrued wages expense       -400

Net operating cash flow   $18,200

Investing activities:

Property & equipment   -$20,700

Financing activities:

Note payable, long-term    -6,300

Common stock and

additional paid-in capital +16,700

Net cash from financing  $10,400

Net cash flows                   $7,900

Explanation:

a) Data and Calculations:

Comparative balance sheets and income statement

                                                   Current Year     Prior Year    Change

Balance sheet at December 31

Cash                                                  $37,300       $29,400       +7,900

Accounts receivable                          32,700          28,900       +3,800

Merchandise inventory                     42,000          38,300        +3,700

Property and equipment                  121,500        100,800      +20,700

Less: Accumulated depreciation    (30,700)        (25,300)

Total assets                                 $202,800        $172,100

Accounts payable                          $36,700        $27,900        +8,800

Accrued wages expense                   1,400             1,800            -400

Note payable, long-term                 44,500         50,800         -6,300

Common stock and

 additional paid-in capital              89,600         72,900       +16,700

Retained earnings                          30,600          18,700      

Total liabilities and equity         $202,800      $172,100

Income statement for current year

Sales                                         $123,000

Cost of goods sold                      73,000

Other expenses                           38,100

Net income                                 $11,900

Additional Data:

a. Equipment bought for cash, $20,700

b. Long-term notes payable was paid off for $4,800?

c. Issued new shares of stock for $16,400 cash.

d. No dividends were declared or paid.

e. Other expenses:

Depreciation, $5,400

Wages            20,100

Taxes,               6,100

Other,              6,500

f. Assume that expenses were fully paid in cash, when there are no liabilities account related to them. For example, tax expenses are paid in cash since there is no taxes payable.

Wages Payable

Beginning balance             $1,800

Wages expense $20,100

Ending balance      1,400

Cash paid                           19,700

7 0
3 years ago
A
Andrej [43]

Answer:

not ure what the answer is jio;

Explanation:

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How do you say deserve in spanish
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It would be spelled like merecer
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Read 2 more answers
Black Diamond Company produces snowboards. Each snowboard requires 2 pounds of carbon fiber. Management reports that 5,000 snowb
Nonamiya [84]

1.Based on the information given the production budget for the third quarter is 148,500.

2. Budgeted cost of direct material purchases is 4,425,000.

3. Budgeted Direct labor cost is $1,485,000.

4. Total  factory overhead is $2,376,000.

1. Budgeted production

BLACK DIAMOND COMPANY

Production Budget (in units) Third Quarter

Budgeted units sales 150,000  

Add: Budgeted ending inventory 3,500  

Less: Budgeted beginning inventory (5,000)

Budgeted production 148,500

2. Direct material budget

BLACK DIAMOND COMPANY  

Direct Materials Budget Third Quarter  

Budgeted production  148,500 units

Materials requirement per unit 2  

Materials needed for production 297,000

(148,500units×2)

Budgeted ending inventory 4,000  

Total material requirements(lbs.) 301,000

(297,000+4,000)

Budgeted beginning inventory 6000  

Direct Materials to be purchased (lbs.) 295,000

(301,000-6,000)

Materials price per pound 15.00per  

Budgeted cost of direct material purchases 4,425,000

(295,000×15 per)

3. Direct labor budget

BLACK DIAMOND COMPANY  

Direct labor  Budget Third Quarter

Budgeted Production             148,500

Budgeted Direct labor hours  74,250

(148,500×0.5)      

Budgeted Direct labor cost  $1,485,000

(74,250×$20)  

4. Factory overhead budget

BLACK DIAMOND COMPANY  

Factory Overhead Budget Third Quarter

Variable overhead                    $594,000

(74,250×$8)

Add Fixed overhead                $1,782,000

Total  factory overhead           $2,376,000

Learn more here:brainly.com/question/16381677

8 0
3 years ago
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