Business, 14.07.2020 01:01 jfleming733

The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company's financial condition and performance. Cute Camel Woodcraft Company is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the information given to complete the balance sheet. Cute Camel Woodcraft CompanyBalance Sheet for Year Ending December 31 (Millions of Dollars) Year 2 Year 1 Year 2 Year 1 Assets Liabilities and equity Current assets: Cash and equivalents Accounts rece vable Inventories Total current assets Net fixed assets Net plant and equipment Current liabilities: $2,767 Accounts payable $0 176 996 $0 1,266 3,712 8,437 1,013 Accruals 2,970 Notes payable $6,750 Total current liabilities 937 $937 2,813 $3,750 Long-term debt 3,515 8,250 Total debt $4,687 Common equity: Common stock Retained earnings 9,141 7,313 3,937 Common stock Retained earnings Total common equity 9,141 7,313 Y 3,937 11,250 $15,000 $14,063 Total assets $18,750 15,000 Total liabilities and equity $18,750 Given the information in the preceding balance sheet-and assuming that Cute Camel Woodcraft Company has 50 million shares of common stock outstanding-read each of the following statements, then identify the selection that best interprets the information conveyed by the balance sheet. Cute Camel's pool of relatively liquid assets, which are available to support the company's current and future sales, decreased from Year 1 to Year 2
This statement is, because:
A) Cute Camel's total current asset balance actually increased from $6,750 million to $8,437 million between Year 1 and Year 2
B) Cute Camel's total current liabilities balance decreased by $1,687 mililion between Year 1 and Year 2
C) Cute Camel's total current liabilities balance increased from $1,013 million to $1,266 million between Year 1 and Year 2

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Answer from: butterflycc

Snapshot of balance sheet.

The balance sheet is a financial and accounting system the provides a summary of the financial conditions, that is balance of the individual and the organization. May be made for sole proprietorship or partnership.

The answer to the statement is cute carmel total C.A increased between 1 and 2 year.

The balance sheet gives us information regarding the company. Both th investors and the analyst of the cute Carmel woodcraft company use it for accessing their performance.The sheet is made for the first and the second year basis. Year 2 the Cash and Cash Equivalents = Current Assets - Accounts Receivable - Inventories. Hence equals $3,459Next the both years Net Plant & equipment = Total assets - Total current assets Thus is $10,313. Thus Total CL = Accruals + N.Payable = $1,172. A 2 Retained earnings = Total Common Equity - Common Stock = $4,922.

Hence the option A is correct.

Learn more about the balance sheet.

link.

The balance sheet provides a snapshot of the financial condition of a company. Investors and analyst

Answer from: esnyderquintero

1. Year 2 Cash and Cash Equivalents = Current Assets - Accounts Receivable - Inventories

= 8,437 - 1,266 - 3,712

= $3,459

2. Year 2 Net Plant & equipment = Total assets - Total current assets

= $18,750 - 8,437

= $10,313

3. Year 2 Total current liability = Accruals + Notes Payable

= $176 + 996

= $1,172

4. Year 2 Retained earnings = Total Common Equity - Common Stock

= $14,063 - 9,141

= $4,922

5. This statement is False because:

A) Cute Camel's total current asset balance actually increased from $6,750 million to $8,437 million between Year 1 and Year 2

Current Assets are a pool of relatively liquid assets, which are available to support the company's current and future sales and they increased from Year 1 to 2.

Answer from: Quest

u = 30

continuing your method

$\frac{1}{10}$ = $\frac{1}{u}$ + $\frac{1}{15}$

subtract $\frac{1}{15}$ from both sides

$\frac{1}{u}$ = $\frac{1}{10}$ - $\frac{1}{15}$ thus

$\frac{1}{u}$ = $\frac{3}{30}$ - $\frac{2}{30}$

$\frac{1}{u}$ = $\frac{1}{30}$ ⇒ u = 30

Answer from: Quest

The correct answer is step.

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