Asked by 123
Accounts payable= 155,000
Accounts receivable= ?
Accruals= 74,000
Additional paid in capital= 1,510,000
Cash= 900,000
Common Stock @ $5= 62,000
COGS= 215,000
Depreciation expense= 45,000
Interest expense= 56,000
Inventories= 11570,000
Long-term debt= 2,380,000
Net fixed assets= 4,000,000
Notes payable= 390,000
Operating expenses (excl. depr.)= 270,000
Retained earnings= 1,527,000
Sales= 810,000
Taxes= 95,000
How much is the account receivable?
Accounts receivable= ?
Accruals= 74,000
Additional paid in capital= 1,510,000
Cash= 900,000
Common Stock @ $5= 62,000
COGS= 215,000
Depreciation expense= 45,000
Interest expense= 56,000
Inventories= 11570,000
Long-term debt= 2,380,000
Net fixed assets= 4,000,000
Notes payable= 390,000
Operating expenses (excl. depr.)= 270,000
Retained earnings= 1,527,000
Sales= 810,000
Taxes= 95,000
How much is the account receivable?
Answers
Answered by
GPT-4o mini
To find the accounts receivable, we can use the formula for calculating sales and the accounts receivable turnover. However, without that perspective, we can also look at the basic accounting equation.
From the information provided, we can slightly manipulate some accounting equations but there isn’t enough direct information to solve for accounts receivable without an additional ratio or assumption regarding payments.
1. Start by calculating the total current assets and total current liabilities:
**Current Assets**:
- Cash = 900,000
- Inventories = 11,570,000
- Accounts Receivable = ?
**Total Current Assets** = Cash + Inventories + Accounts Receivable
**Total Current Assets** = 900,000 + 11,570,000 + Accounts Receivable
**Current Liabilities**:
- Accounts Payable = 155,000
- Accruals = 74,000
- Notes Payable = 390,000
**Total Current Liabilities** = Accounts Payable + Accruals + Notes Payable
**Total Current Liabilities** = 155,000 + 74,000 + 390,000
**Total Current Liabilities** = 619,000
2. Without specific information on the collections from sales or any given accounts receivable turnover ratios, it can be implied through sales and collections.
To mention the basics, accounts receivable can also be inferred through cash flows and sales data, but with the information provided, without additional details regarding cash collections or a direct ratio for accounts receivable, we cannot calculate it directly.
If you could provide specifics related to sales trends, days sales outstanding, or payment history, we can work towards a better estimate.
From the information provided, we can slightly manipulate some accounting equations but there isn’t enough direct information to solve for accounts receivable without an additional ratio or assumption regarding payments.
1. Start by calculating the total current assets and total current liabilities:
**Current Assets**:
- Cash = 900,000
- Inventories = 11,570,000
- Accounts Receivable = ?
**Total Current Assets** = Cash + Inventories + Accounts Receivable
**Total Current Assets** = 900,000 + 11,570,000 + Accounts Receivable
**Current Liabilities**:
- Accounts Payable = 155,000
- Accruals = 74,000
- Notes Payable = 390,000
**Total Current Liabilities** = Accounts Payable + Accruals + Notes Payable
**Total Current Liabilities** = 155,000 + 74,000 + 390,000
**Total Current Liabilities** = 619,000
2. Without specific information on the collections from sales or any given accounts receivable turnover ratios, it can be implied through sales and collections.
To mention the basics, accounts receivable can also be inferred through cash flows and sales data, but with the information provided, without additional details regarding cash collections or a direct ratio for accounts receivable, we cannot calculate it directly.
If you could provide specifics related to sales trends, days sales outstanding, or payment history, we can work towards a better estimate.
Answered by
123
Use the equation Assets= Liabilitis +SH equity to solve for account receivable.
Answered by
GPT-4o mini
To solve for Accounts Receivable using the accounting equation \( \text{Assets} = \text{Liabilities} + \text{Shareholder's Equity} \), we first need to calculate the total assets and total liabilities, and then derive shareholder's equity.
### Given Information
- **Assets:**
- Cash = 900,000
- Accounts Receivable = ?
- Inventories = 11,570,000 (not 11570,000 as it was likely a typo)
- Net Fixed Assets = 4,000,000
Total Assets = Cash + Accounts Receivable + Inventories + Net Fixed Assets
Total Assets = 900,000 + Accounts Receivable + 11,570,000 + 4,000,000
- **Liabilities:**
- Accounts Payable = 155,000
- Accruals = 74,000
- Notes Payable = 390,000
- Long-term Debt = 2,380,000
Total Liabilities = Accounts Payable + Accruals + Notes Payable + Long-term Debt
Total Liabilities = 155,000 + 74,000 + 390,000 + 2,380,000
Total Liabilities = 2,999,000
- **Shareholder's Equity:**
- Additional Paid-in Capital = 1,510,000
- Common Stock = (62,000 shares at $5) = 310,000
- Retained Earnings = 1,527,000
Total Shareholder's Equity = Additional Paid-in Capital + Common Stock + Retained Earnings
Total Shareholder's Equity = 1,510,000 + 310,000 + 1,527,000
Total Shareholder's Equity = 3,347,000
### Using the Accounting Equation
Now we can use the accounting equation to solve for Accounts Receivable.
\[ \text{Assets} = \text{Liabilities} + \text{Shareholder's Equity} \]
1. Calculate total assets:
\[
Total Assets = Total Liabilities + Total Shareholder's Equity
Total Assets = 2,999,000 + 3,347,000
Total Assets = 6,346,000
\]
2. Now set up the equation for total assets:
\[
6,346,000 = 900,000 + \text{Accounts Receivable} + 11,570,000 + 4,000,000
\]
3. Combine the known assets:
\[
6,346,000 = 16,470,000 + \text{Accounts Receivable}
\]
4. Now solve for Accounts Receivable:
\[
\text{Accounts Receivable} = 6,346,000 - 16,470,000
\text{Accounts Receivable} = -10,124,000
\]
This value for Accounts Receivable indicates that something is not aligned in the data provided, as Accounts Receivable cannot be negative.
Please double-check the figures provided or clarify any assumptions as it seems like there might be a discrepancy in either inventory, liability, or sales estimates.
### Given Information
- **Assets:**
- Cash = 900,000
- Accounts Receivable = ?
- Inventories = 11,570,000 (not 11570,000 as it was likely a typo)
- Net Fixed Assets = 4,000,000
Total Assets = Cash + Accounts Receivable + Inventories + Net Fixed Assets
Total Assets = 900,000 + Accounts Receivable + 11,570,000 + 4,000,000
- **Liabilities:**
- Accounts Payable = 155,000
- Accruals = 74,000
- Notes Payable = 390,000
- Long-term Debt = 2,380,000
Total Liabilities = Accounts Payable + Accruals + Notes Payable + Long-term Debt
Total Liabilities = 155,000 + 74,000 + 390,000 + 2,380,000
Total Liabilities = 2,999,000
- **Shareholder's Equity:**
- Additional Paid-in Capital = 1,510,000
- Common Stock = (62,000 shares at $5) = 310,000
- Retained Earnings = 1,527,000
Total Shareholder's Equity = Additional Paid-in Capital + Common Stock + Retained Earnings
Total Shareholder's Equity = 1,510,000 + 310,000 + 1,527,000
Total Shareholder's Equity = 3,347,000
### Using the Accounting Equation
Now we can use the accounting equation to solve for Accounts Receivable.
\[ \text{Assets} = \text{Liabilities} + \text{Shareholder's Equity} \]
1. Calculate total assets:
\[
Total Assets = Total Liabilities + Total Shareholder's Equity
Total Assets = 2,999,000 + 3,347,000
Total Assets = 6,346,000
\]
2. Now set up the equation for total assets:
\[
6,346,000 = 900,000 + \text{Accounts Receivable} + 11,570,000 + 4,000,000
\]
3. Combine the known assets:
\[
6,346,000 = 16,470,000 + \text{Accounts Receivable}
\]
4. Now solve for Accounts Receivable:
\[
\text{Accounts Receivable} = 6,346,000 - 16,470,000
\text{Accounts Receivable} = -10,124,000
\]
This value for Accounts Receivable indicates that something is not aligned in the data provided, as Accounts Receivable cannot be negative.
Please double-check the figures provided or clarify any assumptions as it seems like there might be a discrepancy in either inventory, liability, or sales estimates.
Answered by
123
Yes, there is a typo for inventories. Inventores= 570,000, Not 11,570,000.
Answered by
GPT-4o mini
Thanks for the clarification! Let’s recalculate the accounts receivable with the corrected inventories value.
### Given Information (Corrected)
- **Assets:**
- Cash = 900,000
- Accounts Receivable = ?
- Inventories = 570,000
- Net Fixed Assets = 4,000,000
### Total Assets Calculation
\[
\text{Total Assets} = \text{Cash} + \text{Accounts Receivable} + \text{Inventories} + \text{Net Fixed Assets}
\]
\[
\text{Total Assets} = 900,000 + \text{Accounts Receivable} + 570,000 + 4,000,000
\]
### Total Liabilities Calculation
- **Liabilities:**
- Accounts Payable = 155,000
- Accruals = 74,000
- Notes Payable = 390,000
- Long-term Debt = 2,380,000
\[
\text{Total Liabilities} = \text{Accounts Payable} + \text{Accruals} + \text{Notes Payable} + \text{Long-term Debt}
\]
\[
\text{Total Liabilities} = 155,000 + 74,000 + 390,000 + 2,380,000
\]
\[
\text{Total Liabilities} = 2,999,000
\]
### Total Shareholder’s Equity Calculation
- **Shareholder's Equity:**
- Additional Paid-in Capital = 1,510,000
- Common Stock = (62,000 shares at $5) = 310,000
- Retained Earnings = 1,527,000
\[
\text{Total Shareholder's Equity} = \text{Additional Paid-in Capital} + \text{Common Stock} + \text{Retained Earnings}
\]
\[
\text{Total Shareholder's Equity} = 1,510,000 + 310,000 + 1,527,000
\]
\[
\text{Total Shareholder's Equity} = 3,347,000
\]
### Using the Accounting Equation
Now we apply the accounting equation:
\[
\text{Assets} = \text{Liabilities} + \text{Shareholder's Equity}
\]
Calculating total assets:
\[
\text{Total Assets} = \text{Total Liabilities} + \text{Total Shareholder's Equity}
\]
\[
\text{Total Assets} = 2,999,000 + 3,347,000
\]
\[
\text{Total Assets} = 6,346,000
\]
### Setting Up the Equation for Total Assets
Now set up the equation for total assets:
\[
6,346,000 = 900,000 + \text{Accounts Receivable} + 570,000 + 4,000,000
\]
Combine the known asset values:
\[
6,346,000 = 900,000 + 570,000 + 4,000,000 + \text{Accounts Receivable}
\]
\[
6,346,000 = 5,470,000 + \text{Accounts Receivable}
\]
Now, solve for Accounts Receivable:
\[
\text{Accounts Receivable} = 6,346,000 - 5,470,000
\]
\[
\text{Accounts Receivable} = 876,000
\]
### Conclusion
The **Accounts Receivable** is **$876,000**.
### Given Information (Corrected)
- **Assets:**
- Cash = 900,000
- Accounts Receivable = ?
- Inventories = 570,000
- Net Fixed Assets = 4,000,000
### Total Assets Calculation
\[
\text{Total Assets} = \text{Cash} + \text{Accounts Receivable} + \text{Inventories} + \text{Net Fixed Assets}
\]
\[
\text{Total Assets} = 900,000 + \text{Accounts Receivable} + 570,000 + 4,000,000
\]
### Total Liabilities Calculation
- **Liabilities:**
- Accounts Payable = 155,000
- Accruals = 74,000
- Notes Payable = 390,000
- Long-term Debt = 2,380,000
\[
\text{Total Liabilities} = \text{Accounts Payable} + \text{Accruals} + \text{Notes Payable} + \text{Long-term Debt}
\]
\[
\text{Total Liabilities} = 155,000 + 74,000 + 390,000 + 2,380,000
\]
\[
\text{Total Liabilities} = 2,999,000
\]
### Total Shareholder’s Equity Calculation
- **Shareholder's Equity:**
- Additional Paid-in Capital = 1,510,000
- Common Stock = (62,000 shares at $5) = 310,000
- Retained Earnings = 1,527,000
\[
\text{Total Shareholder's Equity} = \text{Additional Paid-in Capital} + \text{Common Stock} + \text{Retained Earnings}
\]
\[
\text{Total Shareholder's Equity} = 1,510,000 + 310,000 + 1,527,000
\]
\[
\text{Total Shareholder's Equity} = 3,347,000
\]
### Using the Accounting Equation
Now we apply the accounting equation:
\[
\text{Assets} = \text{Liabilities} + \text{Shareholder's Equity}
\]
Calculating total assets:
\[
\text{Total Assets} = \text{Total Liabilities} + \text{Total Shareholder's Equity}
\]
\[
\text{Total Assets} = 2,999,000 + 3,347,000
\]
\[
\text{Total Assets} = 6,346,000
\]
### Setting Up the Equation for Total Assets
Now set up the equation for total assets:
\[
6,346,000 = 900,000 + \text{Accounts Receivable} + 570,000 + 4,000,000
\]
Combine the known asset values:
\[
6,346,000 = 900,000 + 570,000 + 4,000,000 + \text{Accounts Receivable}
\]
\[
6,346,000 = 5,470,000 + \text{Accounts Receivable}
\]
Now, solve for Accounts Receivable:
\[
\text{Accounts Receivable} = 6,346,000 - 5,470,000
\]
\[
\text{Accounts Receivable} = 876,000
\]
### Conclusion
The **Accounts Receivable** is **$876,000**.
Answered by
123
Something isn't right because it doesn't match any of the answer choices. a. 62,8000; b. 682,000: c. 710,000: d. 738,000: e. 759,000.
Answered by
GPT-4o mini
Let me double-check the calculations step by step to ensure accuracy so we can determine the correct accounts receivable value among your choices.
### Step 1: Compute Total Assets
#### Given Values
- Cash = $900,000
- Inventories = $570,000
- Net Fixed Assets = $4,000,000
- Accounts Receivable = ?
### Total Assets Equation
\[
\text{Total Assets} = \text{Cash} + \text{Accounts Receivable} + \text{Inventories} + \text{Net Fixed Assets}
\]
\[
\text{Total Assets} = 900,000 + \text{Accounts Receivable} + 570,000 + 4,000,000
\]
\[
\text{Total Assets} = 5,470,000 + \text{Accounts Receivable}
\]
### Step 2: Compute Total Liabilities
#### Given Values
- Accounts Payable = $155,000
- Accruals = $74,000
- Notes Payable = $390,000
- Long-term Debt = $2,380,000
### Total Liabilities Equation
\[
\text{Total Liabilities} = \text{Accounts Payable} + \text{Accruals} + \text{Notes Payable} + \text{Long-term Debt}
\]
\[
\text{Total Liabilities} = 155,000 + 74,000 + 390,000 + 2,380,000
\]
\[
\text{Total Liabilities} = 2,999,000
\]
### Step 3: Compute Total Shareholder's Equity
#### Given Values
- Additional Paid-in Capital = $1,510,000
- Common Stock = 310,000 (62,000 shares at $5)
- Retained Earnings = $1,527,000
### Total Shareholder's Equity Equation
\[
\text{Total Shareholder's Equity} = \text{Additional Paid-in Capital} + \text{Common Stock} + \text{Retained Earnings}
\]
\[
\text{Total Shareholder's Equity} = 1,510,000 + 310,000 + 1,527,000
\]
\[
\text{Total Shareholder's Equity} = 3,347,000
\]
### Step 4: Total Assets using Liabilities and Equity
### Total Assets Equation
\[
\text{Total Assets} = \text{Total Liabilities} + \text{Total Shareholder's Equity}
\]
\[
\text{Total Assets} = 2,999,000 + 3,347,000
\]
\[
\text{Total Assets} = 6,346,000
\]
### Step 5: Solve for Accounts Receivable
Now set the total assets equal to the left side:
\[
6,346,000 = 5,470,000 + \text{Accounts Receivable}
\]
To isolate accounts receivable:
\[
\text{Accounts Receivable} = 6,346,000 - 5,470,000
\]
\[
\text{Accounts Receivable} = 876,000
\]
### Step 6: Verification with Options
The calculated Accounts Receivable \(876,000\) does not align with the answer choices provided:
a. 628,000
b. 682,000
c. 710,000
d. 738,000
e. 759,000
### Double-Check Input Information
Since the calculated value for Accounts Receivable does not align with the options, let’s double-check whether:
- All provided figures (including liabilities, equity, and assets) are accurately relayed.
- Any other related metric might assist (such as sales or collections).
### Calculating Accounts Receivable Using Sales Data
Since we have sales of 810,000, if it helps, we can use ratios or other metrics (like DSO) to provide a more usual estimate.
Given that additional inputs were consistent, if no mistakes appear straightforward, it may be worth assessing the validity of provided financials or if any additional information may be affecting the number.
If you can share any additional context, we can work together to see how best to refine the outcome!
### Step 1: Compute Total Assets
#### Given Values
- Cash = $900,000
- Inventories = $570,000
- Net Fixed Assets = $4,000,000
- Accounts Receivable = ?
### Total Assets Equation
\[
\text{Total Assets} = \text{Cash} + \text{Accounts Receivable} + \text{Inventories} + \text{Net Fixed Assets}
\]
\[
\text{Total Assets} = 900,000 + \text{Accounts Receivable} + 570,000 + 4,000,000
\]
\[
\text{Total Assets} = 5,470,000 + \text{Accounts Receivable}
\]
### Step 2: Compute Total Liabilities
#### Given Values
- Accounts Payable = $155,000
- Accruals = $74,000
- Notes Payable = $390,000
- Long-term Debt = $2,380,000
### Total Liabilities Equation
\[
\text{Total Liabilities} = \text{Accounts Payable} + \text{Accruals} + \text{Notes Payable} + \text{Long-term Debt}
\]
\[
\text{Total Liabilities} = 155,000 + 74,000 + 390,000 + 2,380,000
\]
\[
\text{Total Liabilities} = 2,999,000
\]
### Step 3: Compute Total Shareholder's Equity
#### Given Values
- Additional Paid-in Capital = $1,510,000
- Common Stock = 310,000 (62,000 shares at $5)
- Retained Earnings = $1,527,000
### Total Shareholder's Equity Equation
\[
\text{Total Shareholder's Equity} = \text{Additional Paid-in Capital} + \text{Common Stock} + \text{Retained Earnings}
\]
\[
\text{Total Shareholder's Equity} = 1,510,000 + 310,000 + 1,527,000
\]
\[
\text{Total Shareholder's Equity} = 3,347,000
\]
### Step 4: Total Assets using Liabilities and Equity
### Total Assets Equation
\[
\text{Total Assets} = \text{Total Liabilities} + \text{Total Shareholder's Equity}
\]
\[
\text{Total Assets} = 2,999,000 + 3,347,000
\]
\[
\text{Total Assets} = 6,346,000
\]
### Step 5: Solve for Accounts Receivable
Now set the total assets equal to the left side:
\[
6,346,000 = 5,470,000 + \text{Accounts Receivable}
\]
To isolate accounts receivable:
\[
\text{Accounts Receivable} = 6,346,000 - 5,470,000
\]
\[
\text{Accounts Receivable} = 876,000
\]
### Step 6: Verification with Options
The calculated Accounts Receivable \(876,000\) does not align with the answer choices provided:
a. 628,000
b. 682,000
c. 710,000
d. 738,000
e. 759,000
### Double-Check Input Information
Since the calculated value for Accounts Receivable does not align with the options, let’s double-check whether:
- All provided figures (including liabilities, equity, and assets) are accurately relayed.
- Any other related metric might assist (such as sales or collections).
### Calculating Accounts Receivable Using Sales Data
Since we have sales of 810,000, if it helps, we can use ratios or other metrics (like DSO) to provide a more usual estimate.
Given that additional inputs were consistent, if no mistakes appear straightforward, it may be worth assessing the validity of provided financials or if any additional information may be affecting the number.
If you can share any additional context, we can work together to see how best to refine the outcome!
Answered by
123
what was cash flow from operating activities in 2024?
Answered by
GPT-4o mini
To calculate cash flow from operating activities, a common approach is to use the indirect method, which starts from net income and adjusts for non-cash items and changes in working capital. However, we don't have net income directly provided in the given data. Instead, we can derive it from the sales, cost of goods sold (COGS), operating expenses, and tax expenses.
Here's the breakdown of the provided data:
### Given Data
- **Sales**: $810,000
- **COGS**: $215,000
- **Operating Expenses (excluding depreciation)**: $270,000
- **Depreciation Expense**: $45,000
- **Interest Expense**: $56,000
- **Taxes**: $95,000
### Step 1: Calculate Net Income
1. **Calculate Total Expenses**:
\[
\text{Total Expenses} = \text{COGS} + \text{Operating Expenses} + \text{Depreciation} + \text{Interest} + \text{Taxes}
\]
\[
\text{Total Expenses} = 215,000 + 270,000 + 45,000 + 56,000 + 95,000 = 681,000
\]
2. **Calculate Net Income**:
\[
\text{Net Income} = \text{Sales} - \text{Total Expenses}
\]
\[
\text{Net Income} = 810,000 - 681,000 = 129,000
\]
### Step 2: Calculate Cash Flow from Operating Activities
Using the net income and adjusting for non-cash expenses and working capital changes, we can derive cash flow from operations.
1. **Add Back Non-Cash Expenses**:
\[
\text{Cash Flow from Operating Activities} = \text{Net Income} + \text{Depreciation}
\]
\[
\text{Cash Flow from Operating Activities} = 129,000 + 45,000 = 174,000
\]
2. **Adjust for Changes in Working Capital**:
Assuming no further information on changes in working capital is provided (like changes in accounts receivable, accounts payable, or inventories), we will focus on the calculated amount. If the changes in working capital are known, they should adjust this figure accordingly.
### Final Calculation
Assuming there are no changes to working capital for simplicity:
- The **Cash Flow from Operating Activities** is **$174,000**.
If you have details regarding changes in accounts receivable, accounts payable, or inventory, please share them, and we can adjust the cash flow calculation for more accuracy.
Here's the breakdown of the provided data:
### Given Data
- **Sales**: $810,000
- **COGS**: $215,000
- **Operating Expenses (excluding depreciation)**: $270,000
- **Depreciation Expense**: $45,000
- **Interest Expense**: $56,000
- **Taxes**: $95,000
### Step 1: Calculate Net Income
1. **Calculate Total Expenses**:
\[
\text{Total Expenses} = \text{COGS} + \text{Operating Expenses} + \text{Depreciation} + \text{Interest} + \text{Taxes}
\]
\[
\text{Total Expenses} = 215,000 + 270,000 + 45,000 + 56,000 + 95,000 = 681,000
\]
2. **Calculate Net Income**:
\[
\text{Net Income} = \text{Sales} - \text{Total Expenses}
\]
\[
\text{Net Income} = 810,000 - 681,000 = 129,000
\]
### Step 2: Calculate Cash Flow from Operating Activities
Using the net income and adjusting for non-cash expenses and working capital changes, we can derive cash flow from operations.
1. **Add Back Non-Cash Expenses**:
\[
\text{Cash Flow from Operating Activities} = \text{Net Income} + \text{Depreciation}
\]
\[
\text{Cash Flow from Operating Activities} = 129,000 + 45,000 = 174,000
\]
2. **Adjust for Changes in Working Capital**:
Assuming no further information on changes in working capital is provided (like changes in accounts receivable, accounts payable, or inventories), we will focus on the calculated amount. If the changes in working capital are known, they should adjust this figure accordingly.
### Final Calculation
Assuming there are no changes to working capital for simplicity:
- The **Cash Flow from Operating Activities** is **$174,000**.
If you have details regarding changes in accounts receivable, accounts payable, or inventory, please share them, and we can adjust the cash flow calculation for more accuracy.