Homework Answers
Current Ratio
Current Ratio = Total Current assets / Total current liabilities
= [Cash + Accounts receivables + Inventory + Prepaid insurance] / [Accounts payable + Salaries & wages payable]
= [$70,000 + $100,000 + $140,000 + $80,000] / [$130,000 + $20,000]
= $390,000 / $150,000
= 2.60
= 2.60 : 1
Add Answer to:
Question 4 (1 point) K2 Corporation has assets of $3,600,000, common stock of $936,000, and retained...
Kwantum Corporation has total assets of $3,600,000, common stock of $936,000, and retained earnings of $570,000...
Kwantum Corporation has total assets of $3,600,000, common stock of $936,000, and retained earnings of $570,000 at December 31, 2022. What are the creditors' claims on their assets at that date? $2,094,000 $3,966,000 $1,506,000 $3,234,000
ne Le Question 5 (1 point) Use the following data to determine the total dollar amount...
ne Le Question 5 (1 point) Use the following data to determine the total dollar amount of assets to be classified as current assets. Koonce Office Supplies Balance Sheet December 31, 2017 $ $ 210,000 30,000 240.000 $480,000 195,000 150,000 165,000 90,000 255.000 270,000 Accounts payable Salaries and wages payable Mortgage payable Total liabilities Cash Accounts receivable Inventory Prepaid insurance Stock investments Land Building Less: Accumulated depreciation Trademarks Total assets $315,000 $360,000 750.000 $1.110,000 (60.000) 255.000 Common stock Retained eaming...
Question No. (8) (5 minutes): A- Following is the balance sheet for Abbot Box Company, Inc.:...
Question No. (8) (5 minutes): A- Following is the balance sheet for Abbot Box Company, Inc.: Abbot Box Company, Inc. Balance Sheet December 31, 2009 Assets Liabilities Cash $ 8,000 Accounts payable $16,000 Accounts receivable 1,000 Land 14.000 Stockholders' Equity Building 44,000 Common stock S40,000 Equipment 13.000 Retained eamings 24.000 Total stockholders equity 64,000 Total liabilities and Total assets 580.000 stockholders' equity $80.000 If on 1 January 2010, the balance in the Cash account were used to pay part of...
Question 3 (1 point) Using the following balance sheet and income statement data, what is the...
Question 3 (1 point) Using the following balance sheet and income statement data, what is the current ratio? Current assets $ 21,000 Net income Current liabilities 12.000 Stockholders' equity Average assets 132.000 Total liabilities Total assets 90.000 Average common shares outstanding was 15,000. $ 45,000 63.000 27,000 1) 0.78:1 2) 3.33:1 3) 0.57 : 1 4751 :00 Time Left:0:32:35 LIUI Vvulueyesus. AerHPL I Question 4 (1 point) Use the following data to determine the total dollar amount of assets to...
Consider the balance sheet entries for War Eagle Corporation in the table below. What is the...
Consider the balance sheet entries for War Eagle Corporation in the table below. What is the firm's total current assets? $ What is the total current liabilities? S What is the total working capital? S What is the shareholders' equity? $ Balance Sheet Statement as of December 31, 2009 Assets: Cash Marketable securities Accounts receivables Inventories Prepaid taxes and insurance Manufacturing plant at cost Less accumulated depreciation Net fixed assets Goodwill $ 153,654 $ 200,000 $ 150,000 $ 50.000 $...
Use the following data to calculate the current ratio. Koonce Office Supplies Balance Sheet December 31,...
Use the following data to calculate the current ratio. Koonce Office Supplies Balance Sheet December 31, 2014 Cash Accounts receivable Inventory Prepaid insurance Stock investments Land Buildings $140,000 $20,000 $160,000 $320,000 $130,000 Accounts payable $100,000 Salaries and wages payable $110,000 Mortgage payable $60,000 Total liabilities $170,000 $180,000 $210,000 Common stock $240,000 Less: Accumulated depreciation ($40,000) $170,000 Retained earnings $500,000 Trademarks $740,000 arks $140,000 Total stockholders' equity Total liabilities and stockholders' $1.060.000 equity Total assets $1.060,000 2.50:1 2.13:1 1.44:1 2.86:1
73) Macmillan Corporation has provided the following financial data: Year 1 $ Balance Sheet December 31, Yea...
73) Macmillan Corporation has provided the following financial data: Year 1 $ Balance Sheet December 31, Year 2 and Year 1 Assets Year 2 Current assets: $ 156,000 Cash 268,000 Accounts receivable, net 146,000 Inventory 20,000 Prepaid expenses 120,000 280,000 130,000 20,000 550,000 760,000 590,000 732,000 $ 1,322,000 $ 1,310,000 Total current assets Plant and equipment, net Total assets 45 $ $ 175,000 46,000 80.000 301,000 190,000 491,000 180,000 50,000 80,000 310,000 190.000 500.000 Liabilities and Stockholders' Equity Current liabilities:...
The following account balances appear in the 2018 adjusted trial balance of Blue Devils Corporation: Cash,...
The following account balances appear in the 2018 adjusted trial balance of Blue Devils Corporation: Cash, $5,000: Accounts Receivable, $9,000, Supples, $19,000;, Equipment, $120,000 Accumulated Depreciation, $45,000; Accounts Payable, $26,000: Salaries Payable, $16,000, Common Stock, $60.000; and Retained Eamings, Prepare the December 31, 2018, classified balance sheet including the corect balance for retained earnings. (Amounts to be deducted should be entered with minus sign.) BLUE DEVILS CORPORATION Balance Sheet December 31, 2018 Assets Liabilities Current liabilities: Current assets Total current...
Income Statement Statement of Stockholders' Equity Revenues #33|| Common stock Retained earnings Expenses: Beginning) $450,000 $321,000...
Income Statement Statement of Stockholders' Equity Revenues #33|| Common stock Retained earnings Expenses: Beginning) $450,000 $321,000 Salaries $456,000 Issuance #35 Administrative 245,000 Net income 210,000 Utilities 8.000 Dividends #36 Total expenses 709,000| Ending) $500,000 $501.000 Net income #34 Balance Sheet Assets Liabilities Cash $25,000 Accounts payable $14,000 A/R 30,000 Notes payable T 2 50.000 Supplies #37 Total liabilities $264,000 Prepaid rent 2,000 Stockholders' Equity Equipment 207,800 Common stock Building 1,000,000 Retained earnings Total stockholders' equity #39 Total assets #38 Total...
Retained Earnings Notes Payable 12,600 Cash 16,000 Land 26,000 Balance 1/1/2018 Common Stock 7,600 21,800 Better...
Retained Earnings Notes Payable 12,600 Cash 16,000 Land 26,000 Balance 1/1/2018 Common Stock 7,600 21,800 Better Corp. completed the following transactions during 2018: 1. Purchased land for $8,000 cash, 2. Acquired $31,000 cash from the issue of common stock. 3. Received $70,000 cash for providing services to customers. 4. Paid cash operating expenses of $41,400. 5. Borrowed $16,000 cash from the bank. 6. Paid a $8,000 cash dividend to the stockholders. 7. Determined that the market value of the land...
ne Le Question 5 (1 point) Use the following data to determine the total dollar amount of assets to be classified as current assets. Koonce Office Supplies Balance Sheet December 31, 2017 $ $ 210,000 30,000 240.000 $480,000 195,000 150,000 165,000 90,000 255.000 270,000 Accounts payable Salaries and wages payable Mortgage payable Total liabilities Cash Accounts receivable Inventory Prepaid insurance Stock investments Land Building Less: Accumulated depreciation Trademarks Total assets $315,000 $360,000 750.000 $1.110,000 (60.000) 255.000 Common stock Retained eaming...
Question No. (8) (5 minutes): A- Following is the balance sheet for Abbot Box Company, Inc.: Abbot Box Company, Inc. Balance Sheet December 31, 2009 Assets Liabilities Cash $ 8,000 Accounts payable $16,000 Accounts receivable 1,000 Land 14.000 Stockholders' Equity Building 44,000 Common stock S40,000 Equipment 13.000 Retained eamings 24.000 Total stockholders equity 64,000 Total liabilities and Total assets 580.000 stockholders' equity $80.000 If on 1 January 2010, the balance in the Cash account were used to pay part of...
Question 3 (1 point) Using the following balance sheet and income statement data, what is the current ratio? Current assets $ 21,000 Net income Current liabilities 12.000 Stockholders' equity Average assets 132.000 Total liabilities Total assets 90.000 Average common shares outstanding was 15,000. $ 45,000 63.000 27,000 1) 0.78:1 2) 3.33:1 3) 0.57 : 1 4751 :00 Time Left:0:32:35 LIUI Vvulueyesus. AerHPL I Question 4 (1 point) Use the following data to determine the total dollar amount of assets to...
Consider the balance sheet entries for War Eagle Corporation in the table below. What is the firm's total current assets? $ What is the total current liabilities? S What is the total working capital? S What is the shareholders' equity? $ Balance Sheet Statement as of December 31, 2009 Assets: Cash Marketable securities Accounts receivables Inventories Prepaid taxes and insurance Manufacturing plant at cost Less accumulated depreciation Net fixed assets Goodwill $ 153,654 $ 200,000 $ 150,000 $ 50.000 $...
Use the following data to calculate the current ratio. Koonce Office Supplies Balance Sheet December 31, 2014 Cash Accounts receivable Inventory Prepaid insurance Stock investments Land Buildings $140,000 $20,000 $160,000 $320,000 $130,000 Accounts payable $100,000 Salaries and wages payable $110,000 Mortgage payable $60,000 Total liabilities $170,000 $180,000 $210,000 Common stock $240,000 Less: Accumulated depreciation ($40,000) $170,000 Retained earnings $500,000 Trademarks $740,000 arks $140,000 Total stockholders' equity Total liabilities and stockholders' $1.060.000 equity Total assets $1.060,000 2.50:1 2.13:1 1.44:1 2.86:1
73) Macmillan Corporation has provided the following financial data: Year 1 $ Balance Sheet December 31, Year 2 and Year 1 Assets Year 2 Current assets: $ 156,000 Cash 268,000 Accounts receivable, net 146,000 Inventory 20,000 Prepaid expenses 120,000 280,000 130,000 20,000 550,000 760,000 590,000 732,000 $ 1,322,000 $ 1,310,000 Total current assets Plant and equipment, net Total assets 45 $ $ 175,000 46,000 80.000 301,000 190,000 491,000 180,000 50,000 80,000 310,000 190.000 500.000 Liabilities and Stockholders' Equity Current liabilities:...
The following account balances appear in the 2018 adjusted trial balance of Blue Devils Corporation: Cash, $5,000: Accounts Receivable, $9,000, Supples, $19,000;, Equipment, $120,000 Accumulated Depreciation, $45,000; Accounts Payable, $26,000: Salaries Payable, $16,000, Common Stock, $60.000; and Retained Eamings, Prepare the December 31, 2018, classified balance sheet including the corect balance for retained earnings. (Amounts to be deducted should be entered with minus sign.) BLUE DEVILS CORPORATION Balance Sheet December 31, 2018 Assets Liabilities Current liabilities: Current assets Total current...
Income Statement Statement of Stockholders' Equity Revenues #33|| Common stock Retained earnings Expenses: Beginning) $450,000 $321,000 Salaries $456,000 Issuance #35 Administrative 245,000 Net income 210,000 Utilities 8.000 Dividends #36 Total expenses 709,000| Ending) $500,000 $501.000 Net income #34 Balance Sheet Assets Liabilities Cash $25,000 Accounts payable $14,000 A/R 30,000 Notes payable T 2 50.000 Supplies #37 Total liabilities $264,000 Prepaid rent 2,000 Stockholders' Equity Equipment 207,800 Common stock Building 1,000,000 Retained earnings Total stockholders' equity #39 Total assets #38 Total...
Retained Earnings Notes Payable 12,600 Cash 16,000 Land 26,000 Balance 1/1/2018 Common Stock 7,600 21,800 Better Corp. completed the following transactions during 2018: 1. Purchased land for $8,000 cash, 2. Acquired $31,000 cash from the issue of common stock. 3. Received $70,000 cash for providing services to customers. 4. Paid cash operating expenses of $41,400. 5. Borrowed $16,000 cash from the bank. 6. Paid a $8,000 cash dividend to the stockholders. 7. Determined that the market value of the land...
Most questions answered within 3 hours.
-
Solid NaOH is added to a solution of 0.50 M acetic acid until
the pH of...
asked 9 minutes ago -
A futuristic design for a car is to have a large solid
disk-shaped flywheel within the...
asked 6 minutes ago -
Discuss how Entrepreneurial leadership style differs
from traditional leadership?
asked 8 minutes ago -
Which of the following statements is not a characteristic of the
Internal Revenue Code?
A) The...
asked 17 minutes ago -
Say true or false and explain it.
A heap is represented using an array. The array...
asked 27 minutes ago -
Explain how the DNA replication enzyme complex is organized and
functions, please don't copy paste from...
asked 26 minutes ago -
how
can personality contribute to one scoring high on the need to
evaluate measurement by Jarvis?
asked 28 minutes ago -
A high jumper is attempting to jump over a crossbar that is
placed at a height...
asked 32 minutes ago -
1.
A hemophiliac male mates with a healthy female. what are the
possible genotypes for the...
asked 49 minutes ago -
You could argue that even though Rockefeller clearly had
enormous market power (90% of the market)...
asked 1 hour ago -
At the beginning of the year, Palermo Brothers, Inc., purchased
a new plastic water bottle making...
asked 1 hour ago -
Calculate the change in the Gibbs energy of the system for the
following processes: a) 6.0...
asked 53 minutes ago