Homework Answers
Total Assets = Total Liabilities + Total Stockholders' Equity
$345,000 = Total Liabilities + $140,000
Total Liabilities = $345,000 - $140,000 = $205,000
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If total assets equal $345,000 and total stockholders' equity equal $140,000, then total liabilities must equal...
Stockholders equity is equal to liabilities plus assets. True False If a firm sells 80,000 units...
Stockholders equity is equal to liabilities plus assets. True False If a firm sells 80,000 units and the contribution margin on the firm's single product is $3.00 per unit and fixed costs are $95,000, what is the firm's breakeven point in units? $33,444 units $28,640 units 31,667 units Not enough information is given to determine, Refer to the following table: Sales (1,000,000 units) Variable costs Fixed costs Interest $2,000,000 700,000 400,000 150,000 225,000 $525,000 Taxes Net income The degree of...
What's retained earnings. total stockholders' equity, and total liabilities and stockholders' equity? Accounts receivable $3,400 Cash...
What's retained earnings.
total stockholders' equity, and total liabilities and stockholders'
equity?
Accounts receivable $3,400 Cash $6.240 Accounts payable 3,700 Supplies 3,780 Interest payable 530 Unearned service revenue 940 Salaries and wages expense 5,400 Service revenue 41,850 Notes payable 32,500 Salaries and wages payable 770 Common stock 55,000 Depreciation expense 740 Inventory 2,810 Equipment (net) 110,600 Using the information above, prepare a balance sheet as of December 31, 2022. (List assets in order of liquidity.) Cullumber Company Balance Sheet December...
Halbur Company reported total assets of $150,000, current assets of $60,000, total stockholders' equity of $60,000, and...
Halbur Company reported total assets of $150,000, current assets of $60,000, total stockholders' equity of $60,000, and non current liabilities of $65,000 Determine the current liabilities. O $50,000 $85,000 $25,000 $65,000
On the balance sheet, owner's equity is Oa. equal to the total of assets and liabilities...
On the balance sheet, owner's equity is Oa. equal to the total of assets and liabilities Ob. subtracted from liabilities and the net amount is equal to assets Oc. added to liabilities and the two are equal to assets Od. added to assets and the two are equal to liabilities
On the balance sheet, total assets must always equal total liabilities. The amount remaining is what...
On the balance sheet, total assets must always equal total liabilities. The amount remaining is what is used to finance the firm and includes equity and long-term debt.
If total liabilities increased by $93000 and stockholders' equity increased by $49000 during a period of...
If total liabilities increased by $93000 and stockholders' equity increased by $49000 during a period of time, then total assets must change by what amount and direction during that same period? $240000 increase O $142000 increase O $191000 increase $142000 decrease
A company’s balance sheet reports stockholders' equity of $400,000, total liabilities of $600,000, and total assets...
A company’s balance sheet reports stockholders' equity of $400,000, total liabilities of $600,000, and total assets of $1,000,000. What is the company’s debt to equity ratio?
Total Liabilities + Total Assets $ ? 85.000 350,000 Stockholders' Equity $360,000 $300,000 50,000 275,000 S1-5....
Total Liabilities + Total Assets $ ? 85.000 350,000 Stockholders' Equity $360,000 $300,000 50,000 275,000 S1-5. (Learning Objective 3: Apply the accounting equation) 1. If you know the assets and the equity of a business, how can you measure its liabilities Give the equation. 2. Use the accounting equation to show how to determine the amount of a company's stock holders' equity. How would your answer change if you were analyzing your own house S1-6. (Learning Objective 3: Identify assets,...
5 value: 15.00 points The accounting equation can be stated as: Assets + Liabilities Stockholders' equity...
5 value: 15.00 points The accounting equation can be stated as: Assets + Liabilities Stockholders' equity O Assets - Liabilities Stockholders' equity O Assets Liabilities-Stockholders' equity Assets + Stockholders' equity Liabilities
At the beginning of the year, Morales Company had total assets of $800,000 and total liabilities...
At the beginning of the year, Morales Company had total assets of $800,000 and total liabilities of $510,000. (Treat each item independently.) (a) If total assets increased $140,000 during the year and total liabilities decreased $70,000, what is the amount of stockholders' equity at the end of the year? Stockholders' equity 540000 (b) During the year, total liabilities increased $90,000 and stockholders' equity decreased $60,000. What is the amount of total assets at the end of the year? Total assets...
Stockholders equity is equal to liabilities plus assets. True False If a firm sells 80,000 units and the contribution margin on the firm's single product is $3.00 per unit and fixed costs are $95,000, what is the firm's breakeven point in units? $33,444 units $28,640 units 31,667 units Not enough information is given to determine, Refer to the following table: Sales (1,000,000 units) Variable costs Fixed costs Interest $2,000,000 700,000 400,000 150,000 225,000 $525,000 Taxes Net income The degree of...
What's retained earnings.
total stockholders' equity, and total liabilities and stockholders'
equity?
Accounts receivable $3,400 Cash $6.240 Accounts payable 3,700 Supplies 3,780 Interest payable 530 Unearned service revenue 940 Salaries and wages expense 5,400 Service revenue 41,850 Notes payable 32,500 Salaries and wages payable 770 Common stock 55,000 Depreciation expense 740 Inventory 2,810 Equipment (net) 110,600 Using the information above, prepare a balance sheet as of December 31, 2022. (List assets in order of liquidity.) Cullumber Company Balance Sheet December...
Halbur Company reported total assets of $150,000, current assets of $60,000, total stockholders' equity of $60,000, and non current liabilities of $65,000 Determine the current liabilities. O $50,000 $85,000 $25,000 $65,000
On the balance sheet, owner's equity is Oa. equal to the total of assets and liabilities Ob. subtracted from liabilities and the net amount is equal to assets Oc. added to liabilities and the two are equal to assets Od. added to assets and the two are equal to liabilities
If total liabilities increased by $93000 and stockholders' equity increased by $49000 during a period of time, then total assets must change by what amount and direction during that same period? $240000 increase O $142000 increase O $191000 increase $142000 decrease
Total Liabilities + Total Assets $ ? 85.000 350,000 Stockholders' Equity $360,000 $300,000 50,000 275,000 S1-5. (Learning Objective 3: Apply the accounting equation) 1. If you know the assets and the equity of a business, how can you measure its liabilities Give the equation. 2. Use the accounting equation to show how to determine the amount of a company's stock holders' equity. How would your answer change if you were analyzing your own house S1-6. (Learning Objective 3: Identify assets,...
5 value: 15.00 points The accounting equation can be stated as: Assets + Liabilities Stockholders' equity O Assets - Liabilities Stockholders' equity O Assets Liabilities-Stockholders' equity Assets + Stockholders' equity Liabilities
At the beginning of the year, Morales Company had total assets of $800,000 and total liabilities of $510,000. (Treat each item independently.) (a) If total assets increased $140,000 during the year and total liabilities decreased $70,000, what is the amount of stockholders' equity at the end of the year? Stockholders' equity 540000 (b) During the year, total liabilities increased $90,000 and stockholders' equity decreased $60,000. What is the amount of total assets at the end of the year? Total assets...
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