Current assets include 1.Group of answer choices 2.inventory and accounts receivable. 3.accounts payable and cash. 4.cash...
Current assets include
1.Group of answer choices
2.inventory and accounts receivable.
3.accounts payable and cash.
4.cash and intangible assets.
5.inventory and accounts payable.
6.buildings and equipment.
Homework Answers
Answer: Option ( 2 ) Inventory and accounts receivable
Explanation:
Current assets are the assets which are having fast liquidity. Example are cash, Accounts receivable, inventory etc.
Add Answer to:
Current assets include
1.Group of answer choices
2.inventory and accounts receivable.
3.accounts payable and cash.
4.cash...
rawlco Accounts Payable $4,760 585 Accounts Receivable Cash 2,810 Common Stock 400 Equipment Intangible Assets Inventory...
rawlco
Accounts Payable $4,760 585 Accounts Receivable Cash 2,810 Common Stock 400 Equipment Intangible Assets Inventory Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Retained Earnings Short-Term Investments 3,820 3,100 1,360 1,910 1,520 595 4,390 710 Assume that the following events occurred in the following quarter, which ended December 31, 2016. Dollars are in millions. a. Paid $1,250 cash for additional intangible assets. b. Issued additional shares of commoş stock for $10,500 in cash. c. Purchased equipment; paid $4,500'in cash...
The following information is presented. 1.The current assets section includes cash $152,430, accounts receivable $172,430 less...
The following information is presented.
1.The current assets section includes cash $152,430, accounts
receivable $172,430 less $12,430 for allowance for doubtful
accounts, inventories $182,430, and unearned rent revenue $7,430.
Inventory is stated on the lower-of-FIFO-cost-or-net realizable
value.
2.The investments section includes the cash surrender value of
a life insurance contract $42,430; investments in common stock,
short-term $82,430 and long-term $272,430; and bond sinking fund
$245,140. The cost and fair value of investments in common stock
are the same.
3.Property, plant,...
A A A Accounts Receivabil Food Inventory Total Current Assets Accounts Payable Accrued Expenses Total Current...
A A A Accounts Receivabil Food Inventory Total Current Assets Accounts Payable Accrued Expenses Total Current Liabilities A $ 100,000 A Problem 9 The New K Inn has provided the following selected financial information: Balance Sheet * Cash $100,000 X Property and equipment $2,000,000 abo v ibile Income Statement * Room sales $1,500,000 Food sales 500,000 older Cost of food sold 150,000 + Net income solo 200,000 Ratios Current ratio Food inventory turnover 12 times Average collection period 20 days...
Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated...
Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings $6,530 1,455 48,740 24,320 Inventory Land 240,000 Automobiles 81,525 11,000 38,190 121,600 161,000 190,950 158,000 13,000 Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash Long-term investments Notes payable, due June 30, 2018 Office supplies Paid-in capital in excess of par value 2,280 47,000 Patents 43,000 Prepaid rent 1,460 Retained earnings 295,445 Salaries and wages payable 3,945...
Assets $ Liabilities $ Current Assets Current Liabilities Cash 12,000 Accounts payable 28,500 Cash at bank...
Assets $ Liabilities $ Current Assets Current Liabilities Cash 12,000 Accounts payable 28,500 Cash at bank 7,000 Wages payable 7,000 Accounts receivable 35,000 Taxes payable 12,000 Inventory 30,500 Interest payable 15,000 Prepayments 3,300 Total current assets 87,800 Total current liabilities 62,500 Investments 25,000 Long-Term Liabilities Bank loan 335,000 Notes payable 15,000 Long-term liabilities 350,000 Property, Plant, and Equipment Total Liabilities 412,800 Land and building 156,000 Equipment 1,85,000 Less: Depreciation (63,000) 278,000 Stockholders’ Equity Intangible Assets Common stock 100,000 Goodwill 120,000...
Based on the following data, what is the amount of current assets? Accounts payable……………………………………………………….. $62,000 Accounts receivable…………………………………………………….. &nb
Based on the following data, what is the amount of current assets? Accounts payable……………………………………………………….. $62,000 Accounts receivable…………………………………………………….. 100,000 Cash………………………………………………………………………. 50,000 Intangible assets………………………………………………………… 100,000 Inventory…………………………………………………………………. 138,000 Long-term investments…………………………………………………. 160,000 Long-term liabilities……………………………………………………… 200,000 Short-term investments…………………………………………………. 80,000 Notes payable……………………………………………………………. 56,000 Property, plant, and equipment…………………………………………… 1,340,000 Prepaid insurance……………………………………………………….. 2,000
Classify each of the following accounts with their balance sheet classifications Accumulated Depreciation Equipment Short-term investments...
Classify each of the following accounts with their balance sheet classifications Accumulated Depreciation Equipment Short-term investments Merchandise Inventory Land L. Dawn, Capital 1. Current Assets Salaries Payable 2. Current Liabilties Prepaid Insurance 3. Long Term Investments Accounts receivable 4. Long Term Liabilties 5. Property Plant and Equipment Patents 6. Intangible Assets Accounts receivable 4. Long Term Liabilties 5. Property Plant and Equipment Patents 6. Intangible Assets Cash 7. Owner's Equity Notes Payable (due in 2 years) Accounts payable Equipment Supplies...
Assets Current Assets Cash Accounts receivable Liabilities and Stockholders' Equity Current liabilities Accounts payable 640,000 Notes...
Assets Current Assets Cash Accounts receivable Liabilities and Stockholders' Equity Current liabilities Accounts payable 640,000 Notes payable to banks 120,000 150,000 ($ less Accrued wages allowance for doubtful accounts of $10,000) 1,170,000 80,000 1,190,000 Inventory Taxes Owed Total current liabilities Long-term debt 1,620,000 $ 020, TO Total current assets Land Plant and equipment ($2,330,000 less accumulated depreciation 1,400,000 4,610,000 Stockholders' equity Common stock ($1 par, 610,000 shares authorized, 580,000 outstanding) Retained earnings Total stockholders' equity $ Total liabilities and equity...
4 Equity securities classified as trading Current Assets 5. Cash Current Assets 6. Accrued interest payable...
4 Equity securities classified as trading Current Assets 5. Cash Current Assets 6. Accrued interest payable due in 30 days Current Liabilities 7. Share premium-preference shares (Share Capital) 8. Warranty liability Current Liabilities 9. Currency held in the cash register Current Assets 10. Ordinary shares Share Capital 11. Long-term debt covenants Not Reported on Statement of Financial Position 12. Allowance for doubtful accounts (Current Assets) 13. Accumulated depreciation (Plant Assets) 14. Goodwill Intangible Assets 15. 90 day notes payable Current...
Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated...
Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings $6,530 1,455 48,740 24,320 Inventory Land 240,000 Automobiles 81,525 11,000 38,190 121,600 161,000 190,950 158,000 13,000 Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash Long-term investments Notes payable, due June 30, 2018 Office supplies Paid-in capital in excess of par value 2,280 47,000 Patents 43,000 Prepaid rent 1,460 Retained earnings 295,445 Salaries and wages payable 3,945...
rawlco
Accounts Payable $4,760 585 Accounts Receivable Cash 2,810 Common Stock 400 Equipment Intangible Assets Inventory Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Retained Earnings Short-Term Investments 3,820 3,100 1,360 1,910 1,520 595 4,390 710 Assume that the following events occurred in the following quarter, which ended December 31, 2016. Dollars are in millions. a. Paid $1,250 cash for additional intangible assets. b. Issued additional shares of commoş stock for $10,500 in cash. c. Purchased equipment; paid $4,500'in cash...
The following information is presented.
1.The current assets section includes cash $152,430, accounts
receivable $172,430 less $12,430 for allowance for doubtful
accounts, inventories $182,430, and unearned rent revenue $7,430.
Inventory is stated on the lower-of-FIFO-cost-or-net realizable
value.
2.The investments section includes the cash surrender value of
a life insurance contract $42,430; investments in common stock,
short-term $82,430 and long-term $272,430; and bond sinking fund
$245,140. The cost and fair value of investments in common stock
are the same.
3.Property, plant,...
A A A Accounts Receivabil Food Inventory Total Current Assets Accounts Payable Accrued Expenses Total Current Liabilities A $ 100,000 A Problem 9 The New K Inn has provided the following selected financial information: Balance Sheet * Cash $100,000 X Property and equipment $2,000,000 abo v ibile Income Statement * Room sales $1,500,000 Food sales 500,000 older Cost of food sold 150,000 + Net income solo 200,000 Ratios Current ratio Food inventory turnover 12 times Average collection period 20 days...
Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings $6,530 1,455 48,740 24,320 Inventory Land 240,000 Automobiles 81,525 11,000 38,190 121,600 161,000 190,950 158,000 13,000 Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash Long-term investments Notes payable, due June 30, 2018 Office supplies Paid-in capital in excess of par value 2,280 47,000 Patents 43,000 Prepaid rent 1,460 Retained earnings 295,445 Salaries and wages payable 3,945...
Classify each of the following accounts with their balance sheet classifications Accumulated Depreciation Equipment Short-term investments Merchandise Inventory Land L. Dawn, Capital 1. Current Assets Salaries Payable 2. Current Liabilties Prepaid Insurance 3. Long Term Investments Accounts receivable 4. Long Term Liabilties 5. Property Plant and Equipment Patents 6. Intangible Assets Accounts receivable 4. Long Term Liabilties 5. Property Plant and Equipment Patents 6. Intangible Assets Cash 7. Owner's Equity Notes Payable (due in 2 years) Accounts payable Equipment Supplies...
Assets Current Assets Cash Accounts receivable Liabilities and Stockholders' Equity Current liabilities Accounts payable 640,000 Notes payable to banks 120,000 150,000 ($ less Accrued wages allowance for doubtful accounts of $10,000) 1,170,000 80,000 1,190,000 Inventory Taxes Owed Total current liabilities Long-term debt 1,620,000 $ 020, TO Total current assets Land Plant and equipment ($2,330,000 less accumulated depreciation 1,400,000 4,610,000 Stockholders' equity Common stock ($1 par, 610,000 shares authorized, 580,000 outstanding) Retained earnings Total stockholders' equity $ Total liabilities and equity...
4 Equity securities classified as trading Current Assets 5. Cash Current Assets 6. Accrued interest payable due in 30 days Current Liabilities 7. Share premium-preference shares (Share Capital) 8. Warranty liability Current Liabilities 9. Currency held in the cash register Current Assets 10. Ordinary shares Share Capital 11. Long-term debt covenants Not Reported on Statement of Financial Position 12. Allowance for doubtful accounts (Current Assets) 13. Accumulated depreciation (Plant Assets) 14. Goodwill Intangible Assets 15. 90 day notes payable Current...
Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings $6,530 1,455 48,740 24,320 Inventory Land 240,000 Automobiles 81,525 11,000 38,190 121,600 161,000 190,950 158,000 13,000 Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash Long-term investments Notes payable, due June 30, 2018 Office supplies Paid-in capital in excess of par value 2,280 47,000 Patents 43,000 Prepaid rent 1,460 Retained earnings 295,445 Salaries and wages payable 3,945...
Most questions answered within 3 hours.
-
Problem 1: Present entries to record the selected transactions
described below:
(a)
Issued $2,790,000 of 5-year,...
asked 5 minutes ago -
Using technology to support HR activities increases:
a.
the efficiency of the administrative HR functions.
b....
asked 5 minutes ago -
1. List the features used to classify leaf
types.
2. List some characteristics that are shared...
asked 11 minutes ago -
The three elements of Value Proposition, Key Customers, and
Capabilities operate within an environment. Which of...
asked 13 minutes ago -
Katelynn, a physician, earns $200,000 from her medical practice
in the current year. She receives $45,000...
asked 20 minutes ago -
Each row of the table below describes an aqueous solution at
25°C
.
The second column...
asked 25 minutes ago -
A horizontal wire is at y = 0. Current travels in the +x
direction. The magnetic...
asked 25 minutes ago -
Let X be a continuous random variable whose PDF is Let X be a
continuous random...
asked 46 minutes ago -
Martinez Company’s relevant range of production is 7,500 units
to 12,500 units. When it produces and...
asked 44 minutes ago -
A football with a mass of 1.2 kg is kicked from ground level to
a height...
asked 50 minutes ago -
Remember: Changes in supply determinants shift supply, and
changes in demand determinants shift demand. We say...
asked 49 minutes ago -
Why is the answer b), for this question? I came up with C) for
my incorrect...
asked 55 minutes ago