Selected balance sheet amounts for Reed Corporation for 2017 follow: Current Assets: $9,450 Long Term Assets:...
Selected balance sheet amounts for Reed Corporation for 2017 follow:
Current Assets: $9,450
Long Term Assets: ?
Total Assets: ?
Current Liabilities: $14,520
Long-term Liabilities: $12,340
Total Liabilities: ?
Equity: $15,990
What is the balance sheet amount for Long-term Assets?
Question 5 options:
|
$26,860 |
|
|
$33,310 |
|
|
$29,500 |
|
|
$42,850 |
Homework Answers
Total assets = Total liabilities + Equity
Total liabilities = Current liabilities + Long term liabilities
Total liabilities = $14,520 + 12,340 = $26,860
Total assets = $26,860 + 15,990 = $42,850
Long term assets = Total assets - Current assets
Long term assets = $42,850 - 9,450 = $33,400
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Selected balance sheet amounts for Reed Corporation for 2017
follow:
Current Assets: $9,450
Long Term Assets:...
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Q.9
The balance sheet for Solomon Corporation follows:
Current assets
$
237,000
Long-term assets (net)
752,000
Total assets
$
989,000
Current liabilities
$
156,000
Long-term liabilities
450,000
Total liabilities
606,000
Common stock and retained earnings
383,000
Total liabilities and stockholders’ equity
$
989,000
Required
Compute the following. (Round "Ratios" to 1 decimal
place.)
Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio
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Q.9
The balance sheet for Solomon Corporation follows:
Current assets
$
237,000
Long-term assets (net)
752,000
Total assets
$
989,000
Current liabilities
$
156,000
Long-term liabilities
450,000
Total liabilities
606,000
Common stock and retained earnings
383,000
Total liabilities and stockholders’ equity
$
989,000
Required
Compute the following. (Round "Ratios" to 1 decimal
place.)
Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio
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