Homework Answers
Answer
- Out of total liabilities of $ 170,000, Mortgage payable is a long term liability because it is to be settled over a long period of time.
- Accounts Payable and Salaries & Wages Payable are the current liabilities.
- Total current liabilities = $ 60000 + 25000
= $ 85,000 - Correct Answer = Option ‘B’ $ 85,000
Add Answer to:
Cash Prepaid Insurance $ 25,000 40,000 Accounts Payable Salaries and Wages Payable Mortgage Payable $ 60,000...
The following information is for Qwik Auto Supplies: Qwik Auto Supplies Balance Sheet December 31, 2020...
The following information is for Qwik Auto Supplies: Qwik Auto Supplies Balance Sheet December 31, 2020 Cash $ 45,000 Accounts Payable 140,000 60,000 Prepaid Insurance 80,000 Salaries and Wages Payable Mortgage Payable 150,000 Total Liabilities 350,000 Accounts 110,000 Receivable Inventory 140,000 Land Held for 185,000 Investment Land 250,000 Building $200,000 Less Accumulated Depreciation (50,000) 150,000 Trademark 140,000 Total Assets $1,100,000 Owner's Capital 750,000 Total Liabilities and Owner's $1,100,000 Equity The total dollar amount of assets to be classified as investments...
Cash $ 45,000 Accounts Payable 140,000 60,000 Prepaid Insurance 80,000 Salaries and Wages Payable Mortgage Payable...
Cash $ 45,000 Accounts Payable 140,000 60,000 Prepaid Insurance 80,000 Salaries and Wages Payable Mortgage Payable 150,000 Total Liabilities 350,000 Accounts 110,000 Receivable Inventory 140,000 Land Held for 185,000 Investment Land 250,000 Building $200,000 Less Accumulated Depreciation (50,000) 150,000 Trademark 140,000 Total Assets $1.100,000 Owner's Capital 750,000 Total Liabilities and Owner's $1,100,000 Equity The total dollar amount of assets to be classified as investments is a) $0. b) $585,000. c) $725,000. d) $185.000
no exam wtf 17. The following information is for Central Avenue Real Estate: Central Avenue Real...
no exam wtf
17. The following information is for Central Avenue Real Estate: Central Avenue Real Estate Balance Sheet December 31, 2020 Accounts Payable Salaries and Wages Payable Mortgage Payable Total Liabilities $ 60,000 25,000 85,000 170,000 Cash $ 25,000 Prepaid Insurance 40,000 Accounts Receivable 50,000 Inventory 80,000 Land Held for Investment 75,000 Land 120,000 Building $110,000 Less Accumulated Depreciation (20,000) 90,000 Trademark Total Assets $550.000 Owner's Capital 380,000 70,000 Total Liabilities and Owner's Equity $550.000 The total dollar amount...
Acme Auto Supplies Balance Sheet December 31, 2007 AS Assets Cash - $60,000 S Prepaid Insurance...
Acme Auto Supplies Balance Sheet December 31, 2007 AS Assets Cash - $60,000 S Prepaid Insurance - $40,000 Accounts Receivable - $50,000 Inventory - $70,000 Land held for investment - $80,000 Land - $95,000 Building - $100,000 Less: Accumulated Depreciation - ($30,000) Trademark - $70,000 Total Assets - $535,000 Liabilities Accounts Payable - $65,000 Salaries Payable - $10,000 Mortgage Payable - $90,000 Total Liabilities - $165,000 Stockholders' Equity Common Stock - $120,000 Retained Earnings - $250,000 Total Stockholders' Equity -...
1. Based on the following data, what is the amount of working capital? Accounts payable....................$32,000 Accounts...
1. Based on the following data, what is the amount of working capital? Accounts payable....................$32,000 Accounts receivable....................64,000 Accrued liabilities....................7,000 Cash.........................................20,000 Intangible assets............................40,000 Inventory...............................................72,000 Long-term investments...............................100,000 Long-term liabilities.....................................75,000 Marketable securities.................................35,000 Notes payable (short-term)........................20,000 Property, plant, and equipment.................625,000 Prepaid expenses.........................................2,000 WHAT IS WORKING CAPITAL? a. $162,000 b. $134,000 c. $193,000 d. $62,000 2. Use the following data to determine the total dollar amount of assets to be classified as current assets. Cash..............................................$60,000 Prepaid insurance..........................40,000 Accounts receivable......................50,000 Inventory.........................................70,000 Land held for investment................80,000 Land................................................95,000...
Al pasar a otra pregunta se guardara esta respuesta Pregunta 7 Central Avenue Red Balance Shes...
Al pasar a otra pregunta se guardara esta respuesta Pregunta 7 Central Avenue Red Balance Shes December 31, 2018 The following information is for Central Avenue Ped Estex $ 25,000 40.000 50.000 80.000 75.000 120,000 Cash Prepaid Insurance Accounts Receivable Inventory $110,000 RON 20.000 $50 Land Held for investment Land Building Less Accumulated Depreciation Trademark Total Assets The total dollar amount of liabilities to be classified as a A. $170,000 B. $60,000 C. $85,000. D. $25,000 Al pasar a otra...
please gelp answer this question Part Three. Using the following accounts, prepare a classified balance sheet...
please gelp answer this question
Part Three. Using the following accounts, prepare a classified balance sheet for J&M Auto Repair, on December 31, 2016. (35 points) Cash Short-term investments N/R (due in 10 months) A/R Merchandise Inventory Land Land held for future use Building Accum. Depr-Building Trademark 10,000 40,000 30,000 20,000 70,000 90,000 80,000 100.000 20,000 70,000 N/P (due in 6 months) 50,000 АР 20,000 Salaries Payable 10,000 Mortgage Pay (due in 7 yrs.) 90,000 Common Stock 260,000 Retained Earnings...
PROBLEM 2-Classified Balance Sheet The following information is for Benton Office Supplies Benton Office Supplies Balance...
PROBLEM 2-Classified Balance Sheet The following information is for Benton Office Supplies Benton Office Supplies Balance Sheet December 31, 2014 $ 65,000 30,000 50,000 70,000 75,000 90,000 Accounts Payable Salaries Payable Bonds Payable Total Liabilities $ 60,000 10,000 90.000 $160,000 Cash Prepaid Insurance Accounts Receivable Inventory Land held for investment Land Building $100,000 Less Accumulated Depreciation (20,000) Patent Total Assets Owner's Equity R. Benton, Capital 370,000 80,000 70.000 $530,000 Total Liabilities and Owner's Equity $530,000 The total dollar amount of...
Question 17 (2 points) Use the following information to answer questions 17-20. MARCOTTE MASONARY LTD. Statement...
Question 17 (2 points) Use the following information to answer questions 17-20. MARCOTTE MASONARY LTD. Statement of Financial Position December 31, 2015 $ 50,000 5,000 75,000 110,000 90,000 Accounts payable Salaries payable Mortgage payable Total liabilities $ 40,000 5,000 190,000 235,000 $220,000 Cash Prepaid insurance Accounts receivable Inventory Land Building -Accumulated depreciation Trademark -Accumulated amortisation Total assets Common shares Retained earnings Total shareholders' equity 200,000 105,000 305,000 160,000 60,000 $ 75,000 25,000 50,000 $540,000 Total liabilities and shareholders' equity $540,000...
QUESTION 28 Not yet answered Marked out of 1.00 The following information is for SQU Company:...
QUESTION 28 Not yet answered Marked out of 1.00 The following information is for SQU Company: Trademark 70,000, Share Capital 120,000, Land 90,000; Retained Earnings 250,000, Building 100,000, Accumulated Depreciation 20,000; Land held for investment 75,000; Accounts Payable 60,000; Prepaid Insurance 30,000; Loan Payable 10,000; Inventory 70.000; Mortgage Payable 90,000; Accounts Receivable 50,000; Cash 65,000 The total dollar amount of liabilities to be classified as non-current liabilities is P Flag question Select one: O a R0.60,000 b.R.O.100,000 o c.R.0.70,000 d....
The following information is for Qwik Auto Supplies: Qwik Auto Supplies Balance Sheet December 31, 2020 Cash $ 45,000 Accounts Payable 140,000 60,000 Prepaid Insurance 80,000 Salaries and Wages Payable Mortgage Payable 150,000 Total Liabilities 350,000 Accounts 110,000 Receivable Inventory 140,000 Land Held for 185,000 Investment Land 250,000 Building $200,000 Less Accumulated Depreciation (50,000) 150,000 Trademark 140,000 Total Assets $1,100,000 Owner's Capital 750,000 Total Liabilities and Owner's $1,100,000 Equity The total dollar amount of assets to be classified as investments...
Cash $ 45,000 Accounts Payable 140,000 60,000 Prepaid Insurance 80,000 Salaries and Wages Payable Mortgage Payable 150,000 Total Liabilities 350,000 Accounts 110,000 Receivable Inventory 140,000 Land Held for 185,000 Investment Land 250,000 Building $200,000 Less Accumulated Depreciation (50,000) 150,000 Trademark 140,000 Total Assets $1.100,000 Owner's Capital 750,000 Total Liabilities and Owner's $1,100,000 Equity The total dollar amount of assets to be classified as investments is a) $0. b) $585,000. c) $725,000. d) $185.000
no exam wtf
17. The following information is for Central Avenue Real Estate: Central Avenue Real Estate Balance Sheet December 31, 2020 Accounts Payable Salaries and Wages Payable Mortgage Payable Total Liabilities $ 60,000 25,000 85,000 170,000 Cash $ 25,000 Prepaid Insurance 40,000 Accounts Receivable 50,000 Inventory 80,000 Land Held for Investment 75,000 Land 120,000 Building $110,000 Less Accumulated Depreciation (20,000) 90,000 Trademark Total Assets $550.000 Owner's Capital 380,000 70,000 Total Liabilities and Owner's Equity $550.000 The total dollar amount...
Acme Auto Supplies Balance Sheet December 31, 2007 AS Assets Cash - $60,000 S Prepaid Insurance - $40,000 Accounts Receivable - $50,000 Inventory - $70,000 Land held for investment - $80,000 Land - $95,000 Building - $100,000 Less: Accumulated Depreciation - ($30,000) Trademark - $70,000 Total Assets - $535,000 Liabilities Accounts Payable - $65,000 Salaries Payable - $10,000 Mortgage Payable - $90,000 Total Liabilities - $165,000 Stockholders' Equity Common Stock - $120,000 Retained Earnings - $250,000 Total Stockholders' Equity -...
Al pasar a otra pregunta se guardara esta respuesta Pregunta 7 Central Avenue Red Balance Shes December 31, 2018 The following information is for Central Avenue Ped Estex $ 25,000 40.000 50.000 80.000 75.000 120,000 Cash Prepaid Insurance Accounts Receivable Inventory $110,000 RON 20.000 $50 Land Held for investment Land Building Less Accumulated Depreciation Trademark Total Assets The total dollar amount of liabilities to be classified as a A. $170,000 B. $60,000 C. $85,000. D. $25,000 Al pasar a otra...
please gelp answer this question
Part Three. Using the following accounts, prepare a classified balance sheet for J&M Auto Repair, on December 31, 2016. (35 points) Cash Short-term investments N/R (due in 10 months) A/R Merchandise Inventory Land Land held for future use Building Accum. Depr-Building Trademark 10,000 40,000 30,000 20,000 70,000 90,000 80,000 100.000 20,000 70,000 N/P (due in 6 months) 50,000 АР 20,000 Salaries Payable 10,000 Mortgage Pay (due in 7 yrs.) 90,000 Common Stock 260,000 Retained Earnings...
PROBLEM 2-Classified Balance Sheet The following information is for Benton Office Supplies Benton Office Supplies Balance Sheet December 31, 2014 $ 65,000 30,000 50,000 70,000 75,000 90,000 Accounts Payable Salaries Payable Bonds Payable Total Liabilities $ 60,000 10,000 90.000 $160,000 Cash Prepaid Insurance Accounts Receivable Inventory Land held for investment Land Building $100,000 Less Accumulated Depreciation (20,000) Patent Total Assets Owner's Equity R. Benton, Capital 370,000 80,000 70.000 $530,000 Total Liabilities and Owner's Equity $530,000 The total dollar amount of...
Question 17 (2 points) Use the following information to answer questions 17-20. MARCOTTE MASONARY LTD. Statement of Financial Position December 31, 2015 $ 50,000 5,000 75,000 110,000 90,000 Accounts payable Salaries payable Mortgage payable Total liabilities $ 40,000 5,000 190,000 235,000 $220,000 Cash Prepaid insurance Accounts receivable Inventory Land Building -Accumulated depreciation Trademark -Accumulated amortisation Total assets Common shares Retained earnings Total shareholders' equity 200,000 105,000 305,000 160,000 60,000 $ 75,000 25,000 50,000 $540,000 Total liabilities and shareholders' equity $540,000...
QUESTION 28 Not yet answered Marked out of 1.00 The following information is for SQU Company: Trademark 70,000, Share Capital 120,000, Land 90,000; Retained Earnings 250,000, Building 100,000, Accumulated Depreciation 20,000; Land held for investment 75,000; Accounts Payable 60,000; Prepaid Insurance 30,000; Loan Payable 10,000; Inventory 70.000; Mortgage Payable 90,000; Accounts Receivable 50,000; Cash 65,000 The total dollar amount of liabilities to be classified as non-current liabilities is P Flag question Select one: O a R0.60,000 b.R.O.100,000 o c.R.0.70,000 d....
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