Homework Answers
The Answer is “Assets = Liabilities + Equity”
The Balance Sheet of the Company is divided into two parts, The Assets and Liabilities. The left side of the balance sheet shows the all the assets of the company and the Labilities and the Equity are listed on the right side of the Balance Sheet).
-The Assets are the company's resources (Such as Cash, Stocks, Receivables, Property and Equipment’s, Investments, Etc)
-The Liabilities are those that the company owes to the outsiders (Such as Loans, Creditors, Other Payables, Etc)
-The Equity Consist of the amount invested by the stockholders and the amount retained by the company after meeting all the expenses from the revenue)
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Which of the following equations best describes the accounting identity? 0 Long-term assets-short-term assets + Equity....
Cash Equity Long-term debr Long-term investments Ner property and equipment Other assets Other long-term liabilities 1J0,000...
Cash Equity Long-term debr Long-term investments Ner property and equipment Other assets Other long-term liabilities 1J0,000 120,000 100,000 150,000 40,000 10,000 4.5 Consider the following balance sheet: BestCare HMO Balance Sheet June 30, 2015 (in thousands) Assets Current Assets: Cash Net premiums receivable Supplies Total current assets Net property and equipment Total assets $2,737 821 387 $3,945 5,924 $9,869 Liabilities and Net Assets Accounts payable-medical services Accrued expenses $2,145 929 Notes payable Total current liabilities Long-term debt 382 Total liabilities...
Assets 2018 Liabilities 2018 Cash and Cash Equivalents 63,000 Current Liabilities 40,000 Short-term Investments 3,000 Long-term...
Assets 2018 Liabilities 2018 Cash and Cash Equivalents 63,000 Current Liabilities 40,000 Short-term Investments 3,000 Long-term Liabilities 120,000 Inventory 21,000 Total Liabilities 160,000 Accounts Receivables 20,000 Total Current Assets 107,000 Total Owners' Equity 597,000 Fixed Assets 650,000 Total Assets 757,000 What is the firm’s current ratio and quick ratio in this order? 1.58; 2.68 2.68; 1.58 1.58; 2.15 2.68; 2.15
QUESTION 13 Which of the following best describes acclimation? o long-term physiological adjustment to an abrupt...
QUESTION 13 Which of the following best describes acclimation? o long-term physiological adjustment to an abrupt change in environmental conditions short-term metabolic and long-term physiological adjustment to environmental changes long-term metabolic and short-term physiological adjustment to environmental changes temporal metabolic or physiological adjustment to changes in environmental conditions
MANGO INC. CONSOLIDATED BALANCE SHEET September 30, 2017 (dollars in millions) ASSETS Current assets: Cash Short-term...
MANGO INC. CONSOLIDATED BALANCE SHEET September 30, 2017 (dollars in millions) ASSETS Current assets: Cash Short-term investments Accounts receivable Inventories Other current assets Total current assets Long-term investments Property, plant, and equipment, net Other noncurrent assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Accrued expenses Unearned revenue Short-term notes payable Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($0.00001 per value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities...
Which of the following best describes the term "current assets"?
Which of the following best describes the term "current assets"? a. Assets expected to be converted into cash within one year or one operating cycle, whichever is longer. b. The amount of claim that the owners have in the business in the current year. c. The cumulative profits earned by a business less any dividends distributed in the current period. d. The amount of total profits earned by a business since it began operations plus all other resources.
Balance Sheet Assets Liabilities Current Liabilities Current Assets 49 36 20 Accounts payable Notes payable/short term...
Balance Sheet Assets Liabilities Current Liabilities Current Assets 49 36 20 Accounts payable Notes payable/short term debt Total current liabilities ====== Cash Accounts receivable Inventories Total current assets 5 15 41 84 Long-Term Assets Long-Term Liabilities O A. - $1 million OB. $6 million OC. $43 million OD. - $6 million Long-Term Assets Long-Term Liabilities Net property, plant, and equipment Total long-term assets 126 126 Long-term debt Total long term abilities 135 135 Total liabilities Stockholders' Equity Total liabilities and...
What is the long-term debt to equity ratio for the year ending 10/31/2011? (Note the current...
What is the long-term debt to equity ratio for the year ending 10/31/2011? (Note the current portion of long-term debts is short-term debt.) 0.601 0.727 0.844 0.938 1.213 Toro Co. (The) (NYS: TTC) Exchange rate used is that of the Year End reported date As Reported Annual Balance Sheet Report Date 10/31/2011 Currency USD Audit Status Not Qualified Consolidated Yes Scale Thousands Cash & cash equivalents 80,886 Customer receivables, gross 144,364 Less: allowance for doubtful accounts 1,964 Customers receivables, net...
MANGO INC. CONSOLIDATED BALANCE SHEET September 30, 2017 (dollars in millions) ASSETS Current assets: Cash Short-term...
MANGO INC. CONSOLIDATED BALANCE SHEET September 30, 2017 (dollars in millions) ASSETS Current assets: Cash Short-term investments Accounts receivable Inventories Other current assets Total current assets Long-term investments Property, plant, and equipment, net Other noncurrent assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Accrued expenses Unearned revenue Short-term notes payable Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($0.00001 per value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities...
Which of the following best describes current practice in accounting for leases? O Leases are not...
Which of the following best describes current practice in accounting for leases? O Leases are not capitalized. O All long-term leases are capitalized. • Leases similar to installment purchases are capitalized. All leases are capitalized.
Gaia Vallante Gaia Vallante Assets Liabilities & Equity Current assets: Current liabilities: Cash 4,592 Accounts receivable...
Gaia Vallante Gaia Vallante Assets Liabilities & Equity Current assets: Current liabilities: Cash 4,592 Accounts receivable 2,952 1,080 3,168 7,200 1,680 4,928 11,200 Accounts payable Accruals Notes payable Total current liabilities Inventories 0 1,012. 5 5,737.5 6,750 8,250 15,000 0 0 5,400 5,400 6,600 12,000 Total current assets Net fixed assets: Long-term bonds Total debt Net plant and equipment 8,800 8,800 Common equity Common stock 2,600 1,400 Retained earnings 3,250 1,750 5,000 20,000 Total common equity 4,000 16000 Total assets...
Cash Equity Long-term debr Long-term investments Ner property and equipment Other assets Other long-term liabilities 1J0,000 120,000 100,000 150,000 40,000 10,000 4.5 Consider the following balance sheet: BestCare HMO Balance Sheet June 30, 2015 (in thousands) Assets Current Assets: Cash Net premiums receivable Supplies Total current assets Net property and equipment Total assets $2,737 821 387 $3,945 5,924 $9,869 Liabilities and Net Assets Accounts payable-medical services Accrued expenses $2,145 929 Notes payable Total current liabilities Long-term debt 382 Total liabilities...
QUESTION 13 Which of the following best describes acclimation? o long-term physiological adjustment to an abrupt change in environmental conditions short-term metabolic and long-term physiological adjustment to environmental changes long-term metabolic and short-term physiological adjustment to environmental changes temporal metabolic or physiological adjustment to changes in environmental conditions
MANGO INC. CONSOLIDATED BALANCE SHEET September 30, 2017 (dollars in millions) ASSETS Current assets: Cash Short-term investments Accounts receivable Inventories Other current assets Total current assets Long-term investments Property, plant, and equipment, net Other noncurrent assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Accrued expenses Unearned revenue Short-term notes payable Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($0.00001 per value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities...
Balance Sheet Assets Liabilities Current Liabilities Current Assets 49 36 20 Accounts payable Notes payable/short term debt Total current liabilities ====== Cash Accounts receivable Inventories Total current assets 5 15 41 84 Long-Term Assets Long-Term Liabilities O A. - $1 million OB. $6 million OC. $43 million OD. - $6 million Long-Term Assets Long-Term Liabilities Net property, plant, and equipment Total long-term assets 126 126 Long-term debt Total long term abilities 135 135 Total liabilities Stockholders' Equity Total liabilities and...
MANGO INC. CONSOLIDATED BALANCE SHEET September 30, 2017 (dollars in millions) ASSETS Current assets: Cash Short-term investments Accounts receivable Inventories Other current assets Total current assets Long-term investments Property, plant, and equipment, net Other noncurrent assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Accrued expenses Unearned revenue Short-term notes payable Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($0.00001 per value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities...
Which of the following best describes current practice in accounting for leases? O Leases are not capitalized. O All long-term leases are capitalized. • Leases similar to installment purchases are capitalized. All leases are capitalized.
Gaia Vallante Gaia Vallante Assets Liabilities & Equity Current assets: Current liabilities: Cash 4,592 Accounts receivable 2,952 1,080 3,168 7,200 1,680 4,928 11,200 Accounts payable Accruals Notes payable Total current liabilities Inventories 0 1,012. 5 5,737.5 6,750 8,250 15,000 0 0 5,400 5,400 6,600 12,000 Total current assets Net fixed assets: Long-term bonds Total debt Net plant and equipment 8,800 8,800 Common equity Common stock 2,600 1,400 Retained earnings 3,250 1,750 5,000 20,000 Total common equity 4,000 16000 Total assets...
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