Homework Answers
Total assets = $780,000
Capital stock = $500,000
Retained earnings = %150,000
Stockholders equity = Capital stock + Retained earnings
= 500,000+150,000
= $650,000
Total assets = Total Liabilities + Stockholders Equity
780,000 = Total Liabilities + 650,000
Total Liabilities = $130,000
Kindly give a positive rating if you are satisfied with this solution and please ask if you have any query.
Thanks
Add Answer to:
LUMPUL RECULUJ LO2-4 BRIEF EXERCISE 2.4 Computing Total Liabilities White Company's assets total $780,000 and its...
need exercise 2.1 answered numbers 1 and 2 thanks BRILP EAERLISE 2.) Computing Change in Cash...
need exercise 2.1 answered numbers 1 and 2 thanks
BRILP EAERLISE 2.) Computing Change in Cash U umng the current year: • Earned revenues of $100.000 and incurred expenses of $56,000, all in cash. Purchased a truck for $25,000. Sold land for $10,000 • Borrowed $15.000 from a local bank. What was the total change in cash during the year? LO2-8 BRIEF EXERCISE 2.8 Alternative Forms of Equity Solway Company is a sole proprietorship whose owner, Joe Solway, has an...
X Company acquires all of Y Company's assets and liabilities for $15,000,000 in cash. The fair...
X Company acquires all of Y Company's assets and liabilities for $15,000,000 in cash. The fair values of Y's assets and liabilities approximate their book values, except Y has developed technology valued at $8,000,000 that is not reported on its balance sheet, and its buildings are overvalued by $7,000,000. Here is Y's balance sheet just prior to the acquisition: Y Company Current assets $ 500,000 Land, buildings, and equipment 9,500,000 Total assets $10,000,000 Liabilities $ 6,000,000 Common stock, $1 par...
Brief Exercise 9-63 Ratio Analysis Trevor Corporation had $2,900,000 in total liabilities and $4,300,000 in total...
Brief Exercise 9-63 Ratio Analysis Trevor Corporation had $2,900,000 in total liabilities and $4,300,000 in total assets as of December 31, 2019. Trevor calculates that 40% of assets are designated as current, while $500,000 of Trevor's total liabilities are long-term. Required: Calculate Trevor's debt to assets ratio and its long-term debt to equity ratio. Round your answers to two decimal places. Debt to Total Assets Long-Term Debt to Total Equity
JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners’ Equity 2017 2018...
JUST DEW IT CORPORATION
2017 and 2018 Balance Sheets
Assets
Liabilities and Owners’ Equity
2017
2018
2017
2018
Current assets
Current liabilities
Cash
$
6,600
$
12,750
Accounts payable
$
50,000
$
68,750
Accounts receivable
12,200
14,250
Notes payable
19,000
35,500
Inventory
78,200
95,250
Total
$
97,000
$
122,250
Total
$
69,000
$
104,250
Long-term debt
$
48,000
$
45,000
Owners’ equity
Common stock and paid-in
surplus
$
50,000
$
50,000
Retained earnings
233,000
300,750
Net plant and equipment
$...
Problem 4-25 Capacity Usage and Growth [LO2] - Sell fixed assets The most recent financial statements...
Problem 4-25 Capacity Usage and Growth [LO2] - Sell fixed assets The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 30 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, and accounts payable increase spontaneously with sales. CROSBY, INC. 2017 Income Statement Sales $ 761,000 Costs 596,000 Other expenses 32,000 Earnings before interest and taxes $ 133,000 Interest...
Brief Exercise 1-2 Given the accounting equation, answer each of the following questions. (a) The liabilities...
Brief Exercise 1-2 Given the accounting equation, answer each of the following questions. (a) The liabilities of Whispering Winds Company are $123,000 and its stockholders' equity is $240,500. What is the amount of Whispering Winds Company's total assets? Whispering Winds Company's total assets $ (b) The total assets of Whispering Winds Company are $196,500 and its stockholders' equity is $90,500. What is the amount of its total liabilities? Whispering Winds Company's total liabilities $ (c) The total assets of Whispering...
$ 347,270 365,444$ 387,315 TOTAL ASSETS omplete the table below for the liabilities and owners equity...
$ 347,270 365,444$ 387,315 TOTAL ASSETS omplete the table below for the liabilities and owners equity part of the balance shee Barron Pizza, Inc. Balance Sheet as of December 31, 2012, 2013, and 2014 (S in thousands) 2014 2013 2012 LIABILITIES Current liabilities Accounts payable nuom debt Total current liabilities Long-term debt Other liabilities Total liabilities OWNERS' EQUITY Common stock Retained earnings s 74,336 s 66,280 135 1361 $ 80,850|$ 60,986 $ |$ 74,630|$L 185,031 28,953 20,149 187,901| $ 243,445|$[...
QUESTION 15 Liability and Equity Analysis Lill Company started 20Y6 with $2,300,000 in total assets. During...
QUESTION 15 Liability and Equity Analysis Lill Company started 20Y6 with $2,300,000 in total assets. During 2/6 the company earned after-tax net income of $300,000 and issued $4.000 in preferred stock dividends. The number of Lill outstanding shares of common and preferred stock did not change during 2016. Additional selected information from the company's 12/31/Y6 balance sheet is as follows: Lill Corporation Balance Sheet (partial) Assets Total current assets $352,000 Total long-term assets 1,908,000 TOTAL ASSETS $2,260,000 Liabilities Total current...
Brief Exercise 1-4 Use the accounting equation to answer each of the following questions. (a) The...
Brief Exercise 1-4 Use the accounting equation to answer each of the following questions. (a) The liabilities of Olga Company are $82,520. Common stock account is $141,500; dividends are $93,680; revenues, $456,960; and expenses, $333,840. What is the amount of Olga Company's total assets? Olga Company's total assets + (b) The total assets of Lafayette Company are $64,140. Common stock account is $17,330; dividends are $7,620; revenues, $45,300; and expenses, $36,910. What is the amount of the company's total liabilities?...
Brief Exercise 1-4 Use the accounting equation to answer each of the following questions. (a) The...
Brief Exercise 1-4 Use the accounting equation to answer each of the following questions. (a) The liabilities of Olga Company are $98,520. Common stock account is $142,300; dividends are $88,380; revenues, $442,400; and expenses, $328,940. What is the amount of Olga Company's total assets? Olga Company's total assets s (b) The total assets of Lafayette Company are $60,600. Common stock account is $20,950; dividends are $5,670; revenues, $46,160; and expenses, $27,580. What is the amount of the company's total liabilities?...
need exercise 2.1 answered numbers 1 and 2 thanks
BRILP EAERLISE 2.) Computing Change in Cash U umng the current year: • Earned revenues of $100.000 and incurred expenses of $56,000, all in cash. Purchased a truck for $25,000. Sold land for $10,000 • Borrowed $15.000 from a local bank. What was the total change in cash during the year? LO2-8 BRIEF EXERCISE 2.8 Alternative Forms of Equity Solway Company is a sole proprietorship whose owner, Joe Solway, has an...
JUST DEW IT CORPORATION
2017 and 2018 Balance Sheets
Assets
Liabilities and Owners’ Equity
2017
2018
2017
2018
Current assets
Current liabilities
Cash
$
6,600
$
12,750
Accounts payable
$
50,000
$
68,750
Accounts receivable
12,200
14,250
Notes payable
19,000
35,500
Inventory
78,200
95,250
Total
$
97,000
$
122,250
Total
$
69,000
$
104,250
Long-term debt
$
48,000
$
45,000
Owners’ equity
Common stock and paid-in
surplus
$
50,000
$
50,000
Retained earnings
233,000
300,750
Net plant and equipment
$...
Brief Exercise 1-2 Given the accounting equation, answer each of the following questions. (a) The liabilities of Whispering Winds Company are $123,000 and its stockholders' equity is $240,500. What is the amount of Whispering Winds Company's total assets? Whispering Winds Company's total assets $ (b) The total assets of Whispering Winds Company are $196,500 and its stockholders' equity is $90,500. What is the amount of its total liabilities? Whispering Winds Company's total liabilities $ (c) The total assets of Whispering...
$ 347,270 365,444$ 387,315 TOTAL ASSETS omplete the table below for the liabilities and owners equity part of the balance shee Barron Pizza, Inc. Balance Sheet as of December 31, 2012, 2013, and 2014 (S in thousands) 2014 2013 2012 LIABILITIES Current liabilities Accounts payable nuom debt Total current liabilities Long-term debt Other liabilities Total liabilities OWNERS' EQUITY Common stock Retained earnings s 74,336 s 66,280 135 1361 $ 80,850|$ 60,986 $ |$ 74,630|$L 185,031 28,953 20,149 187,901| $ 243,445|$[...
QUESTION 15 Liability and Equity Analysis Lill Company started 20Y6 with $2,300,000 in total assets. During 2/6 the company earned after-tax net income of $300,000 and issued $4.000 in preferred stock dividends. The number of Lill outstanding shares of common and preferred stock did not change during 2016. Additional selected information from the company's 12/31/Y6 balance sheet is as follows: Lill Corporation Balance Sheet (partial) Assets Total current assets $352,000 Total long-term assets 1,908,000 TOTAL ASSETS $2,260,000 Liabilities Total current...
Brief Exercise 1-4 Use the accounting equation to answer each of the following questions. (a) The liabilities of Olga Company are $82,520. Common stock account is $141,500; dividends are $93,680; revenues, $456,960; and expenses, $333,840. What is the amount of Olga Company's total assets? Olga Company's total assets + (b) The total assets of Lafayette Company are $64,140. Common stock account is $17,330; dividends are $7,620; revenues, $45,300; and expenses, $36,910. What is the amount of the company's total liabilities?...
Brief Exercise 1-4 Use the accounting equation to answer each of the following questions. (a) The liabilities of Olga Company are $98,520. Common stock account is $142,300; dividends are $88,380; revenues, $442,400; and expenses, $328,940. What is the amount of Olga Company's total assets? Olga Company's total assets s (b) The total assets of Lafayette Company are $60,600. Common stock account is $20,950; dividends are $5,670; revenues, $46,160; and expenses, $27,580. What is the amount of the company's total liabilities?...
Most questions answered within 3 hours.
-
The comparisons of Scholastic Aptitude Test (SAT) scores based
on the highest level of education attained...
asked 2 minutes ago -
A long solenoid has a diameter of 9.97 cm. When a current i
exists in its...
asked 10 minutes ago -
1. A motorcycle rider travels along a straight line with
constant velocity. He then throws a...
asked 26 minutes ago -
You are stopped at a red light at a freeway on-ramp. When the
light turns green,...
asked 25 minutes ago -
The freezing point of water H2O is 0.00°C at 1 atmosphere. How
many grams of manganese(II)...
asked 27 minutes ago -
explain the motives and methods for intrusion of the MS and Linux
operating systems
asked 26 minutes ago -
Are our social identities a) chosen for us or b) open to
negotiation? Pick a position...
asked 35 minutes ago -
A charge of -6 micro-coulombs is placed at the origin, a charge
of +7 micro-coulombs is...
asked 41 minutes ago -
What is the volume occupied by 0.254 mol of helium gas at 1.32
atm and 308...
asked 51 minutes ago -
The person in the drawing is standing on crutches. Assume that
the force exerted on each...
asked 55 minutes ago -
What’s in a name? A rose by any other name would smell
as sweet.” Although this...
asked 1 hour ago -
A vending machine automatically pours soft drinks into cups. The
amount of soft drink dispensed into...
asked 1 hour ago