Accounts payable $41,000, Accounts receivable $46,500, Capital stock $100,000, Cash $41,000, Dividends $10,000, Goodwill $47,000, Interest...
Accounts payable $41,000, Accounts receivable $46,500, Capital stock $100,000, Cash $41,000, Dividends $10,000, Goodwill $47,000, Interest expense $4,000, Interest payable $4,100, Inventory $32,000, Note payable $18,000, Prepaid expenses $5,200, Property, plant & equipment $123,000, Retained earnings $46,000, Rent expense $18,000, Revenues $101,000, and Salary expense $60,000. The note payable balance is due in nine months. How much is Charlie's current ratio? (Round your answer to two decimal places.)
Homework Answers
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Current assets |
||
|
Accounts receivables |
$ 46,500.00 |
|
|
Cash |
$ 41,000.00 |
|
|
Inventory |
$ 32,000.00 |
|
|
Prepaid expense |
$ 5,200.00 |
|
|
Total Current assets |
$ 1,24,700.00 |
|
|
Current liabilities |
||
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Accounts payables |
$ 41,000.00 |
|
|
Interest payable |
$ 4,100.00 |
|
|
Notes payables |
$ 18,000.00 |
|
|
Total Current liabilities |
$ 45,100.00 |
|
|
current ratio (current assets /Current liabilities) |
2.76 |
Add Answer to:
Accounts payable $41,000, Accounts receivable $46,500, Capital
stock $100,000, Cash $41,000, Dividends $10,000, Goodwill $47,000,
Interest...
A partial list shows that Charles Corporation's adjusted trial balance included the following items (all account...
A partial list shows that Charles Corporation's adjusted trial balance included the following items (all account balances are normal): Accounts payable $48,500, Accounts receivable $49,500, Capital stock $100,000, Cash $60,000, Dividends $10,000, Interest expense $4,000, Interest payable $3,200, Inventory $32,000, Prepaid expenses $4,200, Property, plant & equipment $123,000, Retained earnings $46,000, Rent expense $18,000, Revenues $101,000, and Salary expense $60,000. The note payable balance is due in nine months. How much is Charlie's current ratio? (Round your answer to two...
Question 1 (7 points) Charlie Corporation's adjusted trial balance included the following items (all account balances...
Question 1 (7 points) Charlie Corporation's adjusted trial balance included the following items (all account balances are normal): Accounts payable $65,000, Accounts receivable $42,000, Capital stock $100,000, Cash $50,000, Dividends $10,000, Goodwill $47,000, Interest expense $4,000, Interest payable $2,000, Inventory $26,000, Notes payable $80,000, Prepaid expenses $5,000, Property, plant & equipment $123,000, Retained earnings $46,000, Rent expense $18,000, Revenues $101,000, and Salary expense $60,000. How much are total assets? Your Answer:
Charlie Corporation's adjusted trial balance included the following items (all account balances are normal): Account...
Charlie Corporation's adjusted trial balance included the following items (all account balances are normal): Accounts payable $65,000, Accounts receivable $44,000, Capital stock $100,000, Cash $50,000, Dividends $10,000, Goodwill $47,000, Interest expense $4,000, Interest payable $2,000, Inventory $25,000, Notes payable $80,000, Prepaid expenses $5,000, Property, plant & equipment $123,000, Retained earnings $46,000, Rent expense $18,000, Revenues $101,000, and Salary expense $60,000. How much are total assets? Bravo Unlimited provided accounting services, valued at $7,500, to its clients during the month of...
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Accounts Payable 57,000 Long-term investments 35,000 Accounts Receivable 32,000 Trademarks 6,000 Building 255,000 Accrued Expenses 9,000 Cash 15,000 Short-term Notes Payable 35,000 Equipment 76,000 Common Stock 1,000 Retained Earnings Interest Income 2,000 Prepaid Expenses 12,000 Inventory 82,000 Sales 123,000 Dividends paid 25,000 Salary Expense 22,000 Cost of Goods Sold 62,000 Prepare a balance sheet. Accounts Payable 57,000 Long-term investments 35,000 Accounts Receivable 32,000 Trademarks 6,000 Building 255,000 Accrued Expenses 9,000 Cash 15,000 Short-term Notes Payable 35,000 Equipment 76,000 Common Stock...
Roprin, Inc.’ capital structure consists of 100,000 shares of common stock. At December 31, 2019, an...
Roprin, Inc.’ capital structure consists of 100,000 shares of common stock. At December 31, 2019, an analysis of the accounts and discussions with company officials revealed the following information: Sales 1,1 50,000 Purchase Discounts 18,000 Purchase 646,000 Selling Expenses 128,000 Cash 60,000 Sales Discounts 24,000 Freights-in 10,000 Purchase Returns and Allowances 4,000 Accounts Receivable 90,000 Common Stock 447,000 Accumulated Depreciation Equipment 180,000 Dividend Revenue 8,000 Sale Returns and Allowances 32,000 Income Tax Expense (30%) (33,000) 33,000 Inventory, 31 December 2019...
10. Listed below are the account balances of the Grahamm Corporation: Accounts Payable Cash Common Stock...
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Use the following data to create a balance sheet: Cash Accounts Payable Revenues Salaries Payable Investments Interest Earned Common Stock $12.000 $ 22,000 $123,000 $ 4,000 $ 10,000 $ 1,000 $ 5,000 Accounts Receivable Equipment Goodwill Inventory Notes Payable Cost of Goods Sold Supplies $ 33,500 $ 67,000 $ 88,000 $ 29,000 $ 20,000 $ (62,000) $ 1,500 Use the following data to prepare a Statement of Cash Flows: a. cash borrowed from the bank b. cash paid for equipment...
Journalize the closing entries Accounts Payable Accounts Receivable Accumulated Depr.-Equip. Cash Cost of Goods Sold $...
Journalize the closing entries
Accounts Payable Accounts Receivable Accumulated Depr.-Equip. Cash Cost of Goods Sold $ 25,200 30,500 45,000 26,000 518,000 146,000 11,000 7,000 6,400 2,000 32,000 37,000 101,700 10,000 3,500 2,500 2,500 15,000 Equipment Depreciation Expense Insurance Expense Interest Expense Interest Revenue Inventory Notes Payable Owner's Capital Owner's Drawings Prepaid Insurance Property Tax Expense Property Taxes Payable Rent Expense Salaries and Wages Expense Sales Revenue 96,000 720,000 Sales Commissions Expense11,000 4,500 Sales Commissions Payable
Cash Dividends Account Title Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Land Accounts payable Interest...
Cash Dividends Account Title Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Debit Credit $ 6,800 18,000 8,113 170,000 $ 35,020 48,000 10,800 4,000 35,000 48,544 140,000 38,000 130,000 22,588 69,178 10,000 12,685 $ 403,364 $403,364 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON...
Question 1 (7 points) Charlie Corporation's adjusted trial balance included the following items (all account balances are normal): Accounts payable $65,000, Accounts receivable $42,000, Capital stock $100,000, Cash $50,000, Dividends $10,000, Goodwill $47,000, Interest expense $4,000, Interest payable $2,000, Inventory $26,000, Notes payable $80,000, Prepaid expenses $5,000, Property, plant & equipment $123,000, Retained earnings $46,000, Rent expense $18,000, Revenues $101,000, and Salary expense $60,000. How much are total assets? Your Answer:
Accounts Payable 57,000 Long-term investments 35,000 Accounts Receivable 32,000 Trademarks 6,000 Building 255,000 Accrued Expenses 9,000 Cash 15,000 Short-term Notes Payable 35,000 Equipment 76,000 Common Stock 1,000 Retained Earnings Interest Income 2,000 Prepaid Expenses 12,000 Inventory 82,000 Sales 123,000 Dividends paid 25,000 Salary Expense 22,000 Cost of Goods Sold 62,000 Prepare a balance sheet. Accounts Payable 57,000 Long-term investments 35,000 Accounts Receivable 32,000 Trademarks 6,000 Building 255,000 Accrued Expenses 9,000 Cash 15,000 Short-term Notes Payable 35,000 Equipment 76,000 Common Stock...
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Journalize the closing entries
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Cash Dividends Account Title Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Debit Credit $ 6,800 18,000 8,113 170,000 $ 35,020 48,000 10,800 4,000 35,000 48,544 140,000 38,000 130,000 22,588 69,178 10,000 12,685 $ 403,364 $403,364 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON...
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