Net Assets =Total Assets - Total liabilities
Net Assets =$714,000 - $207,000 =$507,000
So Option C is answer
MC Qu. 140 The assets of a company total... The assets of a company total $714,000;...
Saved TB MC Qu. 01-135 The assets of a company... The assets of a company total $716,000; the liabilities, $208,000. What is the amount of equity? Multiple Choice $924.000. $716,000 $508,000 < Prey 8 of 19 Next >
MC Qu. 182 A company reported total equity of... A company reported total equity of $177,000 at the beginning of the year. The company reported $242,000 in revenues and $181,000 in expenses for the year. There were no stockholder investments or dividends during the year. Liabilities at the end of the year totaled $108,000. What are the total assets of the company at the end of the year? Multiple Choice $61,000 $108,000 $130,000 o $242,000
MC Qu. 2-173 The classified balance sheet for a... The classified balance sheet for a company reported current assets of $1,818,796, total liabilities of $802,540, Common Stock of $1,030,000, and Retained Earnings of $133,260. The current ratio was 2.8. Which of the following statements is not correct? Multiple Choice C) Noncurrent liabilities are $133,260. Total Stockholders' equity is $1,163,260. Total Assets are $1,965,800. o The amount or The amount of current assets is 2.8 times the amount of current liabilities.
MC Qu. 167 Morse Company reports total contribution... Morse Company reports total contribution margin of $70,490 pretax net income of $13,300 for the current month. The degree of operating leverage is Multiple Choice o o ок» o 119 o o24
TB MC Qu. 14-140 The following information relates... The following information relates to the manufacturing operations of the Abbra Publishing Company for the year: Beginning $565,000 Ending $628,000 Raw materials inventory The raw materials used in manufacturing during the year totaled $1,108,000. Raw materials purchased during the year amount to: Multiple Choice O s1p45,роо. О ѕ982 ооо. оооо О ѕtsapoo. O saвoooo < Prev 6 of 10 Next > materials used in manufacturing during the year totaled $1,108,000. Raw materials...
MC Qu. 40 (LO10-5) In its first three years of operations, a company... In its first three years of operations, a company has net income of $2.000.$5,000 and $8.000. It also pays dividends of $1000 in the second year, and $3,000 in the third year. What is the balance of Retained Earnings at the end of the third year? Multiple Choice 55.000 о SLOO O $95.000 O 34000
MC Qu. 119 If a company receives... If a company receives $12,800 from its sole stockholder to establish a corporation, the effect on the accounting equation would be: Multiple Choice Assets decrease $12,800 and equity decreases $12,800. Assets increase $12,800 and liabilities decrease $12,800 Assets increase $12,800 and liabilities increase $12,800. Liabilities increase $12,800 and equity decreases $12,800.
MC Qu. 183 Flitter reported net income of.. Flitter reported net income of $21,500 for the past year. At the beginning of the year the company had $208,000 in assets and $58,000 in liabilities. By the end of the year, assets had increased to $308,000 and liabilities were $83,000. Calculate its return on assets: Multiple Choice 10.3% 8.3% 70% 35.5%
MC Qu. 176 Martin Company purchases a machine at... Martin Company purchases a machine at the beginning of the year at a cost of $60.000 The machine is depreciated using the double declining balance method. The machine's useful life is estimated to be 4 years with a $5,000 salvage value. The machine's book value at the end of year 3 : Multiple Choice o зо, ора o O S45,000. o 562.00 o О 7.500, c 687s с Pey 200
MC Qu. 140 A company's warehouse... A company's warehouse contents were destroyed by a flood on September 12. The following information was the only information that was salvaged: 1. Inventory, beginning: $28,500 2. Purchases for the period: $17.500 3. Sales for the period: $55,500 4. Sales returns for the period: $750 The company's average gross profit ratio is 40%. What is the estimated cost of the lost inventory? Multiple Choice o $27,600.00 o $24.900.00 o $46,000.00