Consider the following balance sheet data for Lily’s Home Accessories: Cash & equivalents $ 86,500 Accounts...
Consider the following balance sheet data for Lily’s Home Accessories:
| Cash & equivalents |
$ |
86,500 |
Accounts payable | $ |
85,000 |
|
| Accounts receivable |
139,500 |
Notes payable |
163,500 |
|||
| Inventories |
298,500 |
Accruals |
66,000 |
|||
| Total current assets |
$ |
524,500 |
Total current liabilities | $ |
314,500 |
|
| Long-term debt |
227,500 |
|||||
| Common stock |
370,000 |
|||||
| Net plant & equip. |
559,500 |
Retained earnings |
172,000 |
|||
| Total assets |
$ |
1,084,000 |
Total liabilities & equity | $ |
1,084,000 |
|
What are the company's total liabilities?
| a. |
$227,500 |
|
| b. |
$314,500 |
|
| c. |
$1,084,000 |
|
| d. |
$542,000 |
|
| e. |
$85,000 |
Homework Answers
Company's total liabilities = Accounts payable + Notes payable + Accruals + Long-term debt
= 85,000 + 163,500 +66,000 + 227,500 = 542,000
Total liabilities of a company is how much a company owes.
Add Answer to:
Consider the following balance sheet data for Lily’s Home
Accessories:
Cash & equivalents
$
86,500
Accounts...
2. Comparative Balance Sheet Ending Beginning Balance Balance Assets: Current assets: Cash and cash equivalents 33,000...
2.
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Cash and Equivalents are $1,561; Short minus −Term Investments are $1,000; Accounts Receivables are $3,616; Accounts...
Cash and Equivalents are $1,561; Short minus −Term Investments are $1,000; Accounts Receivables are $3,616; Accounts Payable are $5,121; Short minus −Term Debt is $288; Inventories are $1,816; Other Current Liabilities are $1,401; and Other Current Assets are $707. What is the amount of Total Current Liabilities?
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Balance Sheet Assets &nbs
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2.
Comparative Balance Sheet Ending Beginning Balance Balance Assets: Current assets: Cash and cash equivalents 33,000 $26,300 Accounts receivable 19,000 22,000 62,000 59,000 Inventory Prepaid expenses 12,400 10,200 126,400 117,500 Total current assets Property, plant, and equipment 398,000 378,000 199,000 170,100 207,900 Less accumulated depreciation 199,000 Net property, plant, and equipment $325,400 $325,400 Total assets Liabilities and stockholders' equity: Current liabilities: $ 16,200 Accounts payable $11,000 Accrued liabilities 54,000 58,000 Income taxes payable 72,000 74,000 Total current liabilities 142,200 143,000...
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Given the following balance sheet of firm ABC, what is the firm's equity multiplier? Balance Sheet (millions of $) Year 2017 Assets Cash and securities $ 13.5 Accounts receivable 22.5 Inventories 16 Total current assets $52 Net plant and equipment $30 Total assets $82 Liabilities and Equity. Accounts payable $ 2.5 Accruals 7.5 Notes payable 11 Accounts payable $ 2.5 Accruals 7.5 Notes payable 11 Total current liabilities $21 Long-term bonds $34 Total liabilities $55 Common stock $ 16 Retained...
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