Homework Answers
Current assets = accounts receivable + cash + prepaid rent + short term investment
= $310+3150+1150+6400
= $11010
Current liabilities = accounts payable = $1360
Current ratio = Current assets / Current liabilities
= 11010 / 1360
= 8.1
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The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016....
Accounts Payable Accounts Receivable 1.360 310 3,150 10,600 2.800 310 950 Common Stock Equipment Income Tax...
Accounts Payable Accounts Receivable 1.360 310 3,150 10,600 2.800 310 950 Common Stock Equipment Income Tax Expense Interest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenge Short-Term Investments Software 1.150 2,700 5.800 6.000 1.000 M2-22 Part 1 Required: 1. Prepare a classified balance sheet at September 30, 2016. (Enter your answers in millions de 10,000,000 should be entered as 10).) FACEBOOK, INC Balance Sheet in millions)
The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016....
The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) 2.5 points eBook Referenc Accounts $ 1,650 Payable Accounts 450 Receivable Cash 3,850 Common Stock 13,400 Equipment 3,650 Income Tax 450 Expense Interest 200 Expense Notes Payable 1,650 (long-term) Prepaid Rent 1,850 Retained 4,100 Earnings Service 12,800 Revenue Short-Term 7,800 Investments Software 3,200 Required: 1. Prepare a classified balance sheet at September 30, 2016. (Enter your answers in millions (i.e.,...
Help Required information [The following information applies to the questions displayed below.) The following accounts are...
Help Required information [The following information applies to the questions displayed below.) The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) $ 1,480 380 3,500 12,000 3,200 Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expense Interest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software 380 130 1,300 1,500 3,400 9,300 7,100 2,500 3-a. Determine the current ratio (Enter your answers in...
Check my work Required information (The following information applies to the questions displayed below.) Part 3...
Check my work Required information (The following information applies to the questions displayed below.) Part 3 of 3 The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) 0.9 points $ 1,420 320 3,200 10,800 2,900 320 eBook Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expense Interest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software 70 Print 1,000 1,200 2,800 6,300 6,500...
Required information M2-22 Preparing a Classified Balance Sheet [LO 2-4, LO 2-5 (The following information applies...
Required information M2-22 Preparing a Classified Balance Sheet [LO 2-4, LO 2-5 (The following information applies to the questions displayed below.) The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expense Interest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software $ 1,530 430 3.750 13,000 3,450 430 180 1,550 1,750 3,900 11,800 7,600 3,000...
Required information [The following information applies to the questions displayed below] The following accounts are taken...
Required information [The following information applies to the questions displayed below] The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expense Interest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software $ 1,480 380 3,500 12,000 3,200 380 130 1,300 1,500 3,400 9,300 7,100 2,500 Required: 1. Prepare a classified balance sheet at September 30,...
#5 The following selected accounts were taken from the financial records of Los Olivos Distribut...
#5
The following selected accounts were taken from the financial records of Los Olivos Distributors at December 31, 2019. All accounts have normal balances. Cash Accounts receivable Note receivable, due 2020 Merchandise inventory Prepaid insurance Supplies Equipment Accumulated depreciation, equipment Note payable to bank, due 2020 Accounts payable Interest payable Sales Sales discounts Cost of goods sold $ 34,220 47, 300 9, 100 35, 300 2,310 1, 370 43, 100 23, 100 31,000 16, 690 310 528,000 2,800 350, 250...
Required information M2-22 Preparing a Classified Balance Sheet [LO 2-4, LO 2-5) [The following information applies...
Required information M2-22 Preparing a Classified Balance Sheet [LO 2-4, LO 2-5) [The following information applies to the questions displayed below.] The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expense nterest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software 1,350 400 3,600 12,400 3,150 400 150 1,400 1,600 3,600 10,300 7,300 2,700 We...
Terracotta Incorporated reported the following accounts and amounts (in millions) in its financial statements for the...
Terracotta Incorporated reported the following accounts and amounts (in millions) in its financial statements for the year ended December 2, 2016. Accounts Payable $ 960 Accounts Receivable 1,120 Accumulated Amortization 620 Accumulated Depreciation 1,250 Allowance for Doubtful Accounts 70 Cash and Cash Equivalents 1,150 Common Stock 590 Deferred Revenue 2,140 Equipment 8,730 Income Taxes Payable 70 Notes Payable (long-term) 3,870 Notes Receivable (long-term) 370 Prepaid Rent 390 Retained Earnings 8,370 Service Revenue 610 Short-Term Investments 5,150 Software 1,030 Prepare a...
Terracotta Incorporated reported the following accounts and amounts (in millions) in its financial statements for...
Terracotta Incorporated reported the following accounts and amounts (in millions) in its financial statements for the year ended December 2, 2016 $ 860 920 520 1,150 Accounts Payable Accounts Receivable Accumulated Amortization Accumulated Depreciation Allowance for Doubtful Accounts Cash and Cash Equivalents Common Stock Deferred Revenue Equipment Income Taxes Payable Notes Payable (long-term) Notes Receivable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Tere Investments Software 1,050 490 1,950 7.730 se 2.670 270 299 7,370 4.15 Prepare a classified balance sheet....
Accounts Payable Accounts Receivable 1.360 310 3,150 10,600 2.800 310 950 Common Stock Equipment Income Tax Expense Interest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenge Short-Term Investments Software 1.150 2,700 5.800 6.000 1.000 M2-22 Part 1 Required: 1. Prepare a classified balance sheet at September 30, 2016. (Enter your answers in millions de 10,000,000 should be entered as 10).) FACEBOOK, INC Balance Sheet in millions)
The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) 2.5 points eBook Referenc Accounts $ 1,650 Payable Accounts 450 Receivable Cash 3,850 Common Stock 13,400 Equipment 3,650 Income Tax 450 Expense Interest 200 Expense Notes Payable 1,650 (long-term) Prepaid Rent 1,850 Retained 4,100 Earnings Service 12,800 Revenue Short-Term 7,800 Investments Software 3,200 Required: 1. Prepare a classified balance sheet at September 30, 2016. (Enter your answers in millions (i.e.,...
Help Required information [The following information applies to the questions displayed below.) The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) $ 1,480 380 3,500 12,000 3,200 Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expense Interest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software 380 130 1,300 1,500 3,400 9,300 7,100 2,500 3-a. Determine the current ratio (Enter your answers in...
Check my work Required information (The following information applies to the questions displayed below.) Part 3 of 3 The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) 0.9 points $ 1,420 320 3,200 10,800 2,900 320 eBook Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expense Interest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software 70 Print 1,000 1,200 2,800 6,300 6,500...
Required information M2-22 Preparing a Classified Balance Sheet [LO 2-4, LO 2-5 (The following information applies to the questions displayed below.) The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expense Interest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software $ 1,530 430 3.750 13,000 3,450 430 180 1,550 1,750 3,900 11,800 7,600 3,000...
Required information [The following information applies to the questions displayed below] The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expense Interest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software $ 1,480 380 3,500 12,000 3,200 380 130 1,300 1,500 3,400 9,300 7,100 2,500 Required: 1. Prepare a classified balance sheet at September 30,...
#5
The following selected accounts were taken from the financial records of Los Olivos Distributors at December 31, 2019. All accounts have normal balances. Cash Accounts receivable Note receivable, due 2020 Merchandise inventory Prepaid insurance Supplies Equipment Accumulated depreciation, equipment Note payable to bank, due 2020 Accounts payable Interest payable Sales Sales discounts Cost of goods sold $ 34,220 47, 300 9, 100 35, 300 2,310 1, 370 43, 100 23, 100 31,000 16, 690 310 528,000 2,800 350, 250...
Required information M2-22 Preparing a Classified Balance Sheet [LO 2-4, LO 2-5) [The following information applies to the questions displayed below.] The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expense nterest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software 1,350 400 3,600 12,400 3,150 400 150 1,400 1,600 3,600 10,300 7,300 2,700 We...
Terracotta Incorporated reported the following accounts and amounts (in millions) in its financial statements for the year ended December 2, 2016 $ 860 920 520 1,150 Accounts Payable Accounts Receivable Accumulated Amortization Accumulated Depreciation Allowance for Doubtful Accounts Cash and Cash Equivalents Common Stock Deferred Revenue Equipment Income Taxes Payable Notes Payable (long-term) Notes Receivable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Tere Investments Software 1,050 490 1,950 7.730 se 2.670 270 299 7,370 4.15 Prepare a classified balance sheet....
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