Homework Answers
| . | |||
| 1) | |||
| Net Increase in cash and cash equivalent | |||
| =$940-290-250+900 | |||
| =$1300 | |||
| Correct Option :THIRD | |||
| 2) | Current Assets | ||
| Cash | $ 1,87,000 | ||
| Account Receivables | $ 1,40,000 | ||
| Prepaid Insurance | $ 1,70,000 | ||
| Total | $ 4,97,000 | ||
| Correct Option : FIRST | |||
| 3) | Working Capital = Current Assets - Current Liabilities | ||
| =($196000+155000+154000+85400) - ($200000+28000) | |||
| = $590400-228000 | |||
| = $ 362400 | |||
| Correct Option: SECOND | |||
| 4) | Correct Option: THIRD | ||
| Working Capital | |||
| 5) | Assets to be classifed as investment | ||
| Stock Investment | $ 2,68,000 | ||
| Land | $ 2,72,000 | ||
| Total | $ 5,40,000 | ||
| Correct Option: SECOND | |||
| 6) | Correct Option: FIRST | ||
| 7) | Correct Option: LAST | ||
| Please upvote. | |||
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The following information is available for Splish Brothers Inc.: Cash receipts from operating activities Cash payments...
The following items are taken from the financial statements of Crane Company at December 31, 2022....
The following items are taken from the financial statements of Crane Company at December 31, 2022. Land Accounts receivable Supplies Cash Equipment Buildings Land improvements Notes receivable (due in 2023) Accumulated depreciation-land improvements Common stock Retained earnings (December 31, 2022) Accumulated depreciation-buildings Accounts payable Mortgage payable Accumulated depreciation-equipment Interest payable Income taxes payable Patents Investments in stock (long-term) Debt investments (short-term) $195,800 21,400 10,400 11,850 83,800 262,000 45,900 5,400 13,200 80,000 500,000 33,600 9,600 86,450 18,900 3,100 15,100 47,100 71,600...
The following items are taken from the financial statements of Crane Company at December 31, 2022....
The following items are taken from the financial statements of Crane Company at December 31, 2022. Land Accounts receivable Supplies Cash Equipment Buildings Land improvements Notes receivable (due in 2023) Accumulated depreciation-land improvements Common stock Retained earnings (December 31, 2022) Accumulated depreciation-buildings Accounts payable Mortgage payable Accumulated depreciation-equipment Interest payable Income taxes payable Patents Investments in stock (long-term) Debt investments (short-term) $195,800 21,400 10,400 11,850 83,800 262,000 45,900 5,400 13,200 80,000 500,000 33,600 9,600 86,450 18,900 3,100 15,100 47,100 71,600...
Use the following data to determine the total dollar amount of assets to be dassified as...
Use the following data to determine the total dollar amount of assets to be dassified as current assets. Cash and cash equivalents $127000 Sheffield Corp. Balance Sheet December 31, 2022 $67000 Accounts payable Salaries and wages 104500 payable 139000 Bonds payable 79000 Total liabilities Accounts receivable 12000 Inventory 172500 $311500 Prepaid insurance Stock investments 182500 Land 190500 Buildings $208500 Common stock $253500 Less: Accumulated depreciation (55000) 153500 Retained earnings 478500 Trademarks 127500 $732000 Total stockholders equity Total liabilities and stockholders...
Use the following data to determine the total dollar amount of assets to be classified as...
Use the following data to determine the total dollar amount of assets to be classified as investments. Ayayai Corp. Balance Sheet December 31, 2022 Cash and cash equivalents $72500 Accounts payable $142000 Accounts receivable 100500 Salaries and wages payable 18700 Inventory 136000 Bonds payable 167500 Prepaid insurance 80000 Total liabilities $328200 Stock investments 194500 Land 186000 Buildings $210000 Common stock $204300 Less: Accumulated depreciation (60500) 149500 Retained earnings 505000 Trademarks 118500 Total stockholders equity $709300 Total assets $1037500 Total liabilities...
Use the following data to calculate the current ratio. Cash Wildhorse Co. Balance Sheet December 31,...
Use the following data to calculate the current ratio. Cash Wildhorse Co. Balance Sheet December 31, 2022 $199000 Accounts payable 158150 Salaries and wages payable 161000 Mortgage payable 90700 Total liabilities $197000 28500 241500 $467000 Accounts receivable Inventory Prepaid insurance Stock investments (long-term) Land Buildings Less: Accumulated depreciation Trademarks 253000 293000 $313000 (56000) 257000 Common stock $424850 Retained earnings 725000 Total stockholders' equity $1149850 Total liabilities and stockholders' equity $1616850 205000 $1616850 Total assets O 1.58:1 03.09:1 2.30:1 O 2.70:1
Use the following data to determine the total dollar amount of assets to be classified as...
Use the following data to determine the total dollar amount of assets to be classified as current assets. Splish Brothers Inc. Balance Sheet December 31, 2022 Cash and cash equivalents $71500 Accounts payable $138000 Accounts receivable 90000 Salaries and wages payable 12000 Inventory 145000 Bonds payable 160000 Prepaid insurance 82500 Total liabilities $310000 Stock investments 199000 Land 195000 Buildings $217000 Common stock $251000 Less: Accumulated depreciation (66000) 151000 Retained earnings 476500 Trademarks 103500 Total stockholders' equity $727500 Total assets $1037500...
Use the following data to calculate the current ratio. Pharoah Company Balance Sheet December 31, 2017...
Use the following data to calculate the current ratio. Pharoah Company Balance Sheet December 31, 2017 $75000 105000 143500 85500 179000 190500 Accounts payable Salaries and wages payable Mortgage payable Total liabilities Cash Accounts receivable Inventory Prepaid insurance Stock Investments Land Buildings Less: Accumulated depreciation Trademarks Total assets $137500 14600 154000 $306100 $219500 (62500) 157000 119000 $1054500 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $265400 483000 $748400 $1054500 2:1 2.69:1 3:1 2:1
Use the following data to determine the total dollar amount of assets to be classified as...
Use the following data to determine the total dollar amount of assets to be classified as current assets. Eddy Auto Supplies Balance Sheet December 31, 2017 Accounts payable Salaries and wages payable Mortgage payable Total liabilities $ 165,000 30,000 270.000 $465,000 Cash $ 126,000 Accounts receivable 120.000 Inventory 210,000 Prepaid insurance 90,000 Stock investments 255,000 Land 285,000 Buildings $339,000 Less: Accumulated depreciation (60,000 279,000 Trademarks 210.000 Total assets $1.575.000 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders'...
Use the following data to determine the total dollar amount of assets to be classified as...
Use the following data to determine the total dollar amount of assets to be classified as current assets. Eddy Auto Supplies Balance Sheet December 31, 2017 Accounts payable Salaries and wages payable Mortgage payable Total liabilities $ 165,000 30,000 270.000 $465,000 Cash $ 126,000 Accounts receivable 120.000 Inventory 210,000 Prepaid insurance 90,000 Stock investments 255,000 Land 285,000 Buildings $339,000 Less: Accumulated depreciation (60,000 279,000 Trademarks 210.000 Total assets $1.575.000 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders'...
Use the following data to determine the total dollar amount of assets to be classified as...
Use the following data to determine the total dollar amount of assets to be classified as investments. Cash Accounts receivable Inventory Prepaid insurance $163000 34600 270900 Sheridan Company Balance Sheet December 31, 2022 $125600 Accounts payable 124800 Salaries and wages payable 200800 Mortgage payable 95000 Total liabilities 254500 280500 Common stock 278800 Retained earnings 210000 Total stockholders' equity $1570000 Total liabilities and stockholders' equity $468500 Stock Investments Land $362500 Buildings Less: Accumulated depreciation Trademarks $338500 (59700) 739000 $1101500 Total assets...
The following items are taken from the financial statements of Crane Company at December 31, 2022. Land Accounts receivable Supplies Cash Equipment Buildings Land improvements Notes receivable (due in 2023) Accumulated depreciation-land improvements Common stock Retained earnings (December 31, 2022) Accumulated depreciation-buildings Accounts payable Mortgage payable Accumulated depreciation-equipment Interest payable Income taxes payable Patents Investments in stock (long-term) Debt investments (short-term) $195,800 21,400 10,400 11,850 83,800 262,000 45,900 5,400 13,200 80,000 500,000 33,600 9,600 86,450 18,900 3,100 15,100 47,100 71,600...
The following items are taken from the financial statements of Crane Company at December 31, 2022. Land Accounts receivable Supplies Cash Equipment Buildings Land improvements Notes receivable (due in 2023) Accumulated depreciation-land improvements Common stock Retained earnings (December 31, 2022) Accumulated depreciation-buildings Accounts payable Mortgage payable Accumulated depreciation-equipment Interest payable Income taxes payable Patents Investments in stock (long-term) Debt investments (short-term) $195,800 21,400 10,400 11,850 83,800 262,000 45,900 5,400 13,200 80,000 500,000 33,600 9,600 86,450 18,900 3,100 15,100 47,100 71,600...
Use the following data to determine the total dollar amount of assets to be dassified as current assets. Cash and cash equivalents $127000 Sheffield Corp. Balance Sheet December 31, 2022 $67000 Accounts payable Salaries and wages 104500 payable 139000 Bonds payable 79000 Total liabilities Accounts receivable 12000 Inventory 172500 $311500 Prepaid insurance Stock investments 182500 Land 190500 Buildings $208500 Common stock $253500 Less: Accumulated depreciation (55000) 153500 Retained earnings 478500 Trademarks 127500 $732000 Total stockholders equity Total liabilities and stockholders...
Use the following data to determine the total dollar amount of assets to be classified as investments. Ayayai Corp. Balance Sheet December 31, 2022 Cash and cash equivalents $72500 Accounts payable $142000 Accounts receivable 100500 Salaries and wages payable 18700 Inventory 136000 Bonds payable 167500 Prepaid insurance 80000 Total liabilities $328200 Stock investments 194500 Land 186000 Buildings $210000 Common stock $204300 Less: Accumulated depreciation (60500) 149500 Retained earnings 505000 Trademarks 118500 Total stockholders equity $709300 Total assets $1037500 Total liabilities...
Use the following data to calculate the current ratio. Cash Wildhorse Co. Balance Sheet December 31, 2022 $199000 Accounts payable 158150 Salaries and wages payable 161000 Mortgage payable 90700 Total liabilities $197000 28500 241500 $467000 Accounts receivable Inventory Prepaid insurance Stock investments (long-term) Land Buildings Less: Accumulated depreciation Trademarks 253000 293000 $313000 (56000) 257000 Common stock $424850 Retained earnings 725000 Total stockholders' equity $1149850 Total liabilities and stockholders' equity $1616850 205000 $1616850 Total assets O 1.58:1 03.09:1 2.30:1 O 2.70:1
Use the following data to calculate the current ratio. Pharoah Company Balance Sheet December 31, 2017 $75000 105000 143500 85500 179000 190500 Accounts payable Salaries and wages payable Mortgage payable Total liabilities Cash Accounts receivable Inventory Prepaid insurance Stock Investments Land Buildings Less: Accumulated depreciation Trademarks Total assets $137500 14600 154000 $306100 $219500 (62500) 157000 119000 $1054500 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $265400 483000 $748400 $1054500 2:1 2.69:1 3:1 2:1
Use the following data to determine the total dollar amount of assets to be classified as current assets. Eddy Auto Supplies Balance Sheet December 31, 2017 Accounts payable Salaries and wages payable Mortgage payable Total liabilities $ 165,000 30,000 270.000 $465,000 Cash $ 126,000 Accounts receivable 120.000 Inventory 210,000 Prepaid insurance 90,000 Stock investments 255,000 Land 285,000 Buildings $339,000 Less: Accumulated depreciation (60,000 279,000 Trademarks 210.000 Total assets $1.575.000 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders'...
Use the following data to determine the total dollar amount of assets to be classified as current assets. Eddy Auto Supplies Balance Sheet December 31, 2017 Accounts payable Salaries and wages payable Mortgage payable Total liabilities $ 165,000 30,000 270.000 $465,000 Cash $ 126,000 Accounts receivable 120.000 Inventory 210,000 Prepaid insurance 90,000 Stock investments 255,000 Land 285,000 Buildings $339,000 Less: Accumulated depreciation (60,000 279,000 Trademarks 210.000 Total assets $1.575.000 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders'...
Use the following data to determine the total dollar amount of assets to be classified as investments. Cash Accounts receivable Inventory Prepaid insurance $163000 34600 270900 Sheridan Company Balance Sheet December 31, 2022 $125600 Accounts payable 124800 Salaries and wages payable 200800 Mortgage payable 95000 Total liabilities 254500 280500 Common stock 278800 Retained earnings 210000 Total stockholders' equity $1570000 Total liabilities and stockholders' equity $468500 Stock Investments Land $362500 Buildings Less: Accumulated depreciation Trademarks $338500 (59700) 739000 $1101500 Total assets...
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