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The December 31, 2014 balance sheet of Myers and Myers, prepared under generally accepted accounting principles,...
Calculate the Quick Ratio for this year PETE'S POTATO & PASTA, INC. BALANCE SHEET ENDING DECEMBER...
Calculate the Quick Ratio for this
year
PETE'S POTATO & PASTA, INC. BALANCE SHEET ENDING DECEMBER 31st ASSETS This year Last year $ Current assets Cash and cash equivalents Accounts receivable Inventory Total current assets 10,000 35,000 25,000 70,000 10,000 30,000 20.000 60,000 $ Fixed assets Plants and machinery Less depreciation Land Intangible Assets TOTAL ASSETS 20,000 -12,000 8,000 2,000 88,000 20,000 -10,000 8,000 1,500 79,500 LIABILITIES and SHAREHOLDERS' EQUITY $ Liabilities Accounts payable Taxes payable Long-term bonds issued TOTAL...
HUBBARD CORPORATION Balance Sheet At December 31, 2021 Assets Buildings Land Cash Accounts receivable (net) Inventory...
HUBBARD CORPORATION Balance Sheet At December 31, 2021 Assets Buildings Land Cash Accounts receivable (net) Inventory Machinery Patent (net) Investment in equity securities Total assets Liabilities and Shareholders Equity Accounts payable Accumulated depreciation Notes payable Appreciation of inventory Common stock (authorized and issued 120,000 shares of no par stock) Retained earnings Total liabilities and shareholders equity $ 770,000 310,000 80,000 160,000 280,000 300,000 120,000 100,000 $2,120,000 $ 235,000 275,000 540,000 100,000 480,000 490,000 $ 2, 120,000 Additional information: 1. The...
Calculate Working Capital for last year PETE'S POTATO & PASTA, INC. BALANCE SHEET ENDING DECEMBER 31st...
Calculate Working Capital for last
year
PETE'S POTATO & PASTA, INC. BALANCE SHEET ENDING DECEMBER 31st ASSETS This year Last year $ Current assets Cash and cash equivalents Accounts receivable Inventory Total current assets 10,000 35,000 25,000 70,000 10,000 30,000 20.000 60,000 $ Fixed assets Plants and machinery Less depreciation Land Intangible Assets TOTAL ASSETS 20,000 -12,000 8,000 2,000 88,000 20,000 -10,000 8,000 1,500 79,500 LIABILITIES and SHAREHOLDERS' EQUITY $ Liabilities Accounts payable Taxes payable Long-term bonds issued TOTAL LIABILITIES...
The following balance sheet for the Hubbard Corporation was prepared by the company: HUBBARD CORPORATION Balance...
The following balance sheet for the Hubbard Corporation was prepared by the company: HUBBARD CORPORATION Balance Sheet At December 31, 2021 Assets Buildings Land Cash Accounts receivable (net) Inventory Machinery Patent (net) Investment in equity securities Total assets Liabilities and Shareholders' Equity Accounts payable Accumulated depreciation Notes payable Appreciation of inventory Common stock (authorized and issued 109,000 shares of no par stock) Retained earnings Total liabilities and shareholders' equity $ 759,000 277,000 69,000 138,000 258,000 289,000 109,000 78,000 $1,977,000 $...
The following balance sheet for the Hubbard Corporation was prepared by the company: HUBBARD CORPORATION Balance...
The following balance sheet for the Hubbard Corporation was prepared by the company: HUBBARD CORPORATION Balance Sheet At December 31, 2021 Assets Buildings Land Cash Accounts receivable (net) Inventory Machinery Patent (net) Investment in equity securities Total assets Liabilities and Shareholders' Equity Accounts payable Accumulated depreciation Notes payable Appreciation of inventory Common stock (authorized and issued 119,000 shares of no par stock) Retained earnings Total liabilities and shareholders' equity $ 769,000 307,000 79, eee 158, eee 278,000 299,000 119,000 98,000...
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant....
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant. In reviewing the statement you notice several errors. $ LOS GATOS CORPORATION Balance Sheet At December 31, 2021 Assets Cash Accounts receivable Inventory Machinery (net) Franchise (net) Total assets Liabilities and Shareholders' Equity Accounts payable Allowance for uncollectible accounts Notes payable Bonds payable Shareholders' equity Total liabilities and shareholders' equity 70,000 125,000 70,000 135,000 45,000 445,000 $ $ 80,000 20,000 85,000 125,000 135,000 445,000...
The following balance sheet for the Hubbard Corporation was prepared by the company: HUBBARD...
The following balance sheet for the Hubbard Corporation was prepared by the company: HUBBARD CORPORATION Balance Sheet At December 31, 2016 Assets Buildings $ 760,000 Land 280,000 Cash 70,000 Accounts receivable (net) 140,000 Inventories 260,000 Machinery 290,000 Patent (net) 110,000 Investment in marketable equity securities 80,000 Total assets $ 1,990,000 Liabilities and Shareholders' Equity Accounts payable $ 225,000 Accumulated depreciation 265,000 Notes payable 520,000 Appreciation of inventories 90,000 Common stock, authorized and issued 110,000 shares of no par stock 440,000...
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant....
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant. In reviewing the statement you notice several errors. LOS GATOS CORPORATION Balance Sheet At December 31, 2021 Assets Cash Accounts receivable Inventory Machinery (net) Franchise (net) Total assets Liabilities and Shareholders' Equity Accounts payable Allowance for uncollectible accounts Notes payable Bonds payable Shareholders' equity Total liabilities and shareholders' equity $ 68,000 122,000 69,000 134,000 44,000 $ 437,000 $ 78,000 19,000 83,000 124,000 133,000 $...
Balance Sheet as of December 31, 2012, 2013, and 2014 (in thousands) 2014 2013 2012 LIABILITIES...
Balance Sheet as of December 31, 2012, 2013, and 2014 (in thousands) 2014 2013 2012 LIABILITIES ASSETS Current Assets Cash 2014 2013 2012 S 9,456 $ S Accounts receivable $ 7,097 $ 26,694 $ $ $ $ Inventory Other current assets $ 2331 s 80,952 $ 60.905 $ $ $ $ 16,375 $ 10,975 S 57,369 $ $ 11,433 $ 74,365 S 66 231 $ 266 74,794 5 $ 185,000 28,804 S 20,183 243,626 $ $ Total current assets $...
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant....
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant. In reviewing the statement you notice several errors. $ LOS GATOS CORPORATION Balance Sheet At December 31, 2021 Assets Cash Accounts receivable Inventory Machinery (net) Franchise (net) Total assets Liabilities and Shareholders' Equity Accounts payable Allowance for uncollectible accounts Notes payable Bonds payable Shareholders' equity Total liabilities and shareholders' equity 48,000 92,000 59,000 124,000 34,000 357,000 $ $ 58,000 9,000 63,000 114,000 113,000 357,000...
Calculate the Quick Ratio for this
year
PETE'S POTATO & PASTA, INC. BALANCE SHEET ENDING DECEMBER 31st ASSETS This year Last year $ Current assets Cash and cash equivalents Accounts receivable Inventory Total current assets 10,000 35,000 25,000 70,000 10,000 30,000 20.000 60,000 $ Fixed assets Plants and machinery Less depreciation Land Intangible Assets TOTAL ASSETS 20,000 -12,000 8,000 2,000 88,000 20,000 -10,000 8,000 1,500 79,500 LIABILITIES and SHAREHOLDERS' EQUITY $ Liabilities Accounts payable Taxes payable Long-term bonds issued TOTAL...
HUBBARD CORPORATION Balance Sheet At December 31, 2021 Assets Buildings Land Cash Accounts receivable (net) Inventory Machinery Patent (net) Investment in equity securities Total assets Liabilities and Shareholders Equity Accounts payable Accumulated depreciation Notes payable Appreciation of inventory Common stock (authorized and issued 120,000 shares of no par stock) Retained earnings Total liabilities and shareholders equity $ 770,000 310,000 80,000 160,000 280,000 300,000 120,000 100,000 $2,120,000 $ 235,000 275,000 540,000 100,000 480,000 490,000 $ 2, 120,000 Additional information: 1. The...
Calculate Working Capital for last
year
PETE'S POTATO & PASTA, INC. BALANCE SHEET ENDING DECEMBER 31st ASSETS This year Last year $ Current assets Cash and cash equivalents Accounts receivable Inventory Total current assets 10,000 35,000 25,000 70,000 10,000 30,000 20.000 60,000 $ Fixed assets Plants and machinery Less depreciation Land Intangible Assets TOTAL ASSETS 20,000 -12,000 8,000 2,000 88,000 20,000 -10,000 8,000 1,500 79,500 LIABILITIES and SHAREHOLDERS' EQUITY $ Liabilities Accounts payable Taxes payable Long-term bonds issued TOTAL LIABILITIES...
The following balance sheet for the Hubbard Corporation was prepared by the company: HUBBARD CORPORATION Balance Sheet At December 31, 2021 Assets Buildings Land Cash Accounts receivable (net) Inventory Machinery Patent (net) Investment in equity securities Total assets Liabilities and Shareholders' Equity Accounts payable Accumulated depreciation Notes payable Appreciation of inventory Common stock (authorized and issued 109,000 shares of no par stock) Retained earnings Total liabilities and shareholders' equity $ 759,000 277,000 69,000 138,000 258,000 289,000 109,000 78,000 $1,977,000 $...
The following balance sheet for the Hubbard Corporation was prepared by the company: HUBBARD CORPORATION Balance Sheet At December 31, 2021 Assets Buildings Land Cash Accounts receivable (net) Inventory Machinery Patent (net) Investment in equity securities Total assets Liabilities and Shareholders' Equity Accounts payable Accumulated depreciation Notes payable Appreciation of inventory Common stock (authorized and issued 119,000 shares of no par stock) Retained earnings Total liabilities and shareholders' equity $ 769,000 307,000 79, eee 158, eee 278,000 299,000 119,000 98,000...
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant. In reviewing the statement you notice several errors. $ LOS GATOS CORPORATION Balance Sheet At December 31, 2021 Assets Cash Accounts receivable Inventory Machinery (net) Franchise (net) Total assets Liabilities and Shareholders' Equity Accounts payable Allowance for uncollectible accounts Notes payable Bonds payable Shareholders' equity Total liabilities and shareholders' equity 70,000 125,000 70,000 135,000 45,000 445,000 $ $ 80,000 20,000 85,000 125,000 135,000 445,000...
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant. In reviewing the statement you notice several errors. LOS GATOS CORPORATION Balance Sheet At December 31, 2021 Assets Cash Accounts receivable Inventory Machinery (net) Franchise (net) Total assets Liabilities and Shareholders' Equity Accounts payable Allowance for uncollectible accounts Notes payable Bonds payable Shareholders' equity Total liabilities and shareholders' equity $ 68,000 122,000 69,000 134,000 44,000 $ 437,000 $ 78,000 19,000 83,000 124,000 133,000 $...
Balance Sheet as of December 31, 2012, 2013, and 2014 (in thousands) 2014 2013 2012 LIABILITIES ASSETS Current Assets Cash 2014 2013 2012 S 9,456 $ S Accounts receivable $ 7,097 $ 26,694 $ $ $ $ Inventory Other current assets $ 2331 s 80,952 $ 60.905 $ $ $ $ 16,375 $ 10,975 S 57,369 $ $ 11,433 $ 74,365 S 66 231 $ 266 74,794 5 $ 185,000 28,804 S 20,183 243,626 $ $ Total current assets $...
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant. In reviewing the statement you notice several errors. $ LOS GATOS CORPORATION Balance Sheet At December 31, 2021 Assets Cash Accounts receivable Inventory Machinery (net) Franchise (net) Total assets Liabilities and Shareholders' Equity Accounts payable Allowance for uncollectible accounts Notes payable Bonds payable Shareholders' equity Total liabilities and shareholders' equity 48,000 92,000 59,000 124,000 34,000 357,000 $ $ 58,000 9,000 63,000 114,000 113,000 357,000...
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