Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Financial Accounting Expert

The balance sheet and income statement shown below are for Alcoa. Note that the firm has no amortization charges and it does not lease any assets and none of its debt must be retired during the next 5 years, although the notes payable will be rolled over.

Balance Sheet (Millions of $)

Assets 2007

Cash and securities                                    $1,554.0
Accounts receivable                                      9,660.0
Inventories                                                14,440.0
Total current assets                                  $25,654.0
Net plant and equipment                             17,346.0
Total assets                                             $43,000.0

Liabilities and Equity

Accounts payable                                       $7,980.0
Notes payable                                              6,880.0
Accruals                                                      4,620.0
Total current liabilities                                $19,480.0
Long-term bonds                                        10,920.0
Total debt                                                 $30,400.0
Common stock                                              3,360.0
Retained earnings                                          9,240.0
Total common equity                                  $12,600.0
Total liabilities and equity                            $43,000.0

Income Statement (Millions of $) 2007

Net sales                                                 $58,800.00
Operating costs except depreciations           $54,978.0
Depreciation                                                $1,029.0
Earnings benefits and taxes (EBIT)                $2,793.0
Less interest                                                 1,050.0
Earnings before taxes (EBT)                          $1,743.0
Taxes                                                             $610.1
Net income                                                   $1,133.0

Other data:

Shares outstanding (millions)                             175.00
Common dividends                                          $509.83
Int rate on notes payable & L-T bonds                6.25%
Federal plus state income tax rate                          35%
Year-end stock price                                          $77.69

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M93301
  • Price:- $35

Priced at Now at $35, Verified Solution

Have any Question? 


Related Questions in Financial Accounting

Yoursquore leading a project to migrate customer data

You’re leading a project to migrate customer data (biographical, billing, and orders) from the legacy system to an off-the-shelf product sold by MicroTech. The project was going well, but a key programmer recently inform ...

Analyze the changes made to corporate governance rules

Analyze the changes made to corporate governance rules since the implementation of the Sarbanes–Oxley Act of 2002. Based on your analysis, formulate an opinion on whether or not these changes are sufficient in preventing ...

Chapter 1 1 which of the following goals of the firm are

Chapter 1 1) Which of the following goals of the firm are synonymous (equivalent) to the maximization of shareholder wealth? A) profit maximization B) maximization of the total market value of the firm's common stock C) ...

Financial accounting assignmentcase study 1 - activity

FINANCIAL ACCOUNTING ASSIGNMENT Case Study 1 - Activity Classification (Statement of Cash Flows) You are provided with the following transactions that took place during a recent fiscal year. Transaction Statement of Cash ...

Assignmentintroductionannual report analysis projectis

Assignment INTRODUCTION Annual Report Analysis Projectis designed to get you familiar with a real company's financial statements and disclosures. The purpose of the project is for student to be able to identify the discl ...

1 share a brief definition of each of the three types of

1. Share a brief definition of each of the three types of recognition systems. Which system in your opinion would be the most effective at motivating a team? Why? Is it better for a company to choose one system or integr ...

Discussionpart 1 please respond the following question no

Discussion Part 1 please respond the following question no less then 350 words (original work, no plagiarism, 1 reference) "accounting methods" please respond to the following: • Evaluate the likely impact on a firm's va ...

Accouting testjournalizing transaction using the direct

Accouting Test Journalizing transaction using the direct write- off method verses the allowance method During July 2015, Mayhew company recorded the following: 1: Sales of $86500 ($70000 on accoynt: $ 16500 for cash) 2: ...

Determine how you would segment the market to conduct

Determine how you would segment the market to conduct research for the health care product or service you found. Explain your rationale. Referring to the same health care product or service, determine the most effective ...

Assignmentscenario for assignments 1-5for assignments 1-5

Assignment Scenario for Assignments 1-5 For Assignments 1-5, you are the new budgeting and finance administrator for your local government agency. Your first responsibility is to become familiar with the agency, the budg ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro