Homework Answers
Option a, c and d are all fixed excepts, so they are not at all easily liquidate.
Thus the answer is b) accounts receivable
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Calculator Inventory is less liquid than: a. patents. b. accounts receivable. Oc. land. O d. plant and equipment.
Inventory-Ending Land Land for Future Plant Site Accounts Receivable Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accumulated Other Comprehensive...
Inventory-Ending Land Land for Future Plant Site Accounts Receivable Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accumulated Other Comprehensive Income Advances to Employees Advertising Expense Allowance for Doubtful Accounts Bond Sinking Fund Bonds Payable Buildings Cash (in bank) Cash (on hand) Cash Surrender Value of Life Insurance Commission Expense Common Stock Copyrights Debt Investments (trading) Dividends Payable Equipment Freight-In Gain on Disposal of Equipment Interest Receivable Inventory-Beginning Loss from Flood Noncontrolling Interest Notes Payable (due next year) Paid-in Capital in Excess of Par-Preferred...
Presented below is a list of accounts in alphabetical order. Accounts Receivable Inventory-Ending Accumulated Depreciation-Buildings Land...
Presented below is a list of accounts in alphabetical
order.
Accounts Receivable
Inventory-Ending
Accumulated
Depreciation-Buildings
Land
Accumulated
Depreciation-Equipment
Land for Future Plant
Site
Accumulated Other
Comprehensive Income
Loss from Flood
Advances to Employees
Noncontrolling Interest
Advertising Expense
Notes Payable (due next
year)
Allowance for Doubtful
Accounts
Paid-in Capital in Excess of
Par-Preferred Stock
Bond Sinking Fund
Patents
Bonds Payable
Payroll Taxes Payable
Buildings
Pension Liability
Cash (in bank)
Petty Cash
Cash (on hand)
Preferred Stock
Cash Surrender Value of Life...
Cash Accounts Receivable Merchandise Inventory Plant and Equipment Accumulated Depreciation - Plant and Equipment Total Assets...
Cash Accounts Receivable Merchandise Inventory Plant and Equipment Accumulated Depreciation - Plant and Equipment Total Assets 2019 $27,000 34,000 59,000 127,000 2018 $25,000 36,000 25,000 92,000 (Decrease) $2,000 (2,000) 34,000 35,000 (48,000) (44,000) $199,000 $134,000 (4,000) $65,000 Additional information provided by the company includes the following 1. Equipment was purchased for $70,000 with cash. 2. Equipment with a cost of $35,000 and accumulated depreciation of $7,100 was sold for $46,000 What was the amount of net cash provided by (used...
Which of the following is an intangible asset? O A. building B. land OC. copyright D....
Which of the following is an intangible asset? O A. building B. land OC. copyright D. equipment
Cash $29200 Accounts receivable 10600 140000 Supplies Inventory Land Building Less: Accum. Depreciation Trademark Less: Accum....
Cash $29200 Accounts receivable 10600 140000 Supplies Inventory Land Building Less: Accum. Depreciation Trademark Less: Accum. Depreciation $179800 CRANE'S FURNITURE OUTLET LTD. Statement of Financial Position December 31, 2022 $7700 Accounts payable 20600 Salaries payable 1100 Mortgage payable 174000 Total liabilities 98000 Shareholders' equity Common shares 86200 Retained earnings Total shareholders' equity 29200 $416800 Total liabilities and shareholders' equity $107000 20800 $137000 100000 237000 $39300 10100 Total assets $416800 The dollar amount of share capital is O $416800. $237000. O...
Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation $ 4,600 10,750...
Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation $ 4,600 10,750 14,300 1,100 19,000 12,900 $62,650 Land Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity $ 2,490 8,730 9,500 19,000 22,930 $62,650 What is the company's quick (acid-test) ratio? (Round your answer to 2 decimal places.)
Accounting Standards require accounts receivable to be reported at Accounting Standards require Inventory to be reported...
Accounting Standards require accounts receivable to be reported at Accounting Standards require Inventory to be reported is reported at or is an example of an Inventory cost flow method. Balance sheet accounts are listed in order of Plant, Property and equipment are normally valued at Plant, Property and equipment include a contra asset account known as Investments are reported at Capital Stock is reported at The Balance sheet is useful in determining the proportion of financing from debt and equity....
Which of the following would NOT be considered a fixed asset? O A. Copper O B. Equipment OC. Vehicle OD. Land
Which of the following would NOT be considered a fixed asset? O A. Copper O B. Equipment OC. Vehicle OD. Land
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...
Cash equivalents include short-term, highly liquid trading investments plus accounts receivable less any bank overdrafts. O...
Cash equivalents include short-term, highly liquid trading investments plus accounts receivable less any bank overdrafts. O are reported as non-current assets. O include short-term, highly liquid trading investments less any bank overdrafts. O include all investments in shares.
Inventory-Ending Land Land for Future Plant Site Accounts Receivable Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accumulated Other Comprehensive Income Advances to Employees Advertising Expense Allowance for Doubtful Accounts Bond Sinking Fund Bonds Payable Buildings Cash (in bank) Cash (on hand) Cash Surrender Value of Life Insurance Commission Expense Common Stock Copyrights Debt Investments (trading) Dividends Payable Equipment Freight-In Gain on Disposal of Equipment Interest Receivable Inventory-Beginning Loss from Flood Noncontrolling Interest Notes Payable (due next year) Paid-in Capital in Excess of Par-Preferred...
Presented below is a list of accounts in alphabetical
order.
Accounts Receivable
Inventory-Ending
Accumulated
Depreciation-Buildings
Land
Accumulated
Depreciation-Equipment
Land for Future Plant
Site
Accumulated Other
Comprehensive Income
Loss from Flood
Advances to Employees
Noncontrolling Interest
Advertising Expense
Notes Payable (due next
year)
Allowance for Doubtful
Accounts
Paid-in Capital in Excess of
Par-Preferred Stock
Bond Sinking Fund
Patents
Bonds Payable
Payroll Taxes Payable
Buildings
Pension Liability
Cash (in bank)
Petty Cash
Cash (on hand)
Preferred Stock
Cash Surrender Value of Life...
Cash Accounts Receivable Merchandise Inventory Plant and Equipment Accumulated Depreciation - Plant and Equipment Total Assets 2019 $27,000 34,000 59,000 127,000 2018 $25,000 36,000 25,000 92,000 (Decrease) $2,000 (2,000) 34,000 35,000 (48,000) (44,000) $199,000 $134,000 (4,000) $65,000 Additional information provided by the company includes the following 1. Equipment was purchased for $70,000 with cash. 2. Equipment with a cost of $35,000 and accumulated depreciation of $7,100 was sold for $46,000 What was the amount of net cash provided by (used...
Which of the following is an intangible asset? O A. building B. land OC. copyright D. equipment
Cash $29200 Accounts receivable 10600 140000 Supplies Inventory Land Building Less: Accum. Depreciation Trademark Less: Accum. Depreciation $179800 CRANE'S FURNITURE OUTLET LTD. Statement of Financial Position December 31, 2022 $7700 Accounts payable 20600 Salaries payable 1100 Mortgage payable 174000 Total liabilities 98000 Shareholders' equity Common shares 86200 Retained earnings Total shareholders' equity 29200 $416800 Total liabilities and shareholders' equity $107000 20800 $137000 100000 237000 $39300 10100 Total assets $416800 The dollar amount of share capital is O $416800. $237000. O...
Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation $ 4,600 10,750 14,300 1,100 19,000 12,900 $62,650 Land Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity $ 2,490 8,730 9,500 19,000 22,930 $62,650 What is the company's quick (acid-test) ratio? (Round your answer to 2 decimal places.)
Accounting Standards require accounts receivable to be reported at Accounting Standards require Inventory to be reported is reported at or is an example of an Inventory cost flow method. Balance sheet accounts are listed in order of Plant, Property and equipment are normally valued at Plant, Property and equipment include a contra asset account known as Investments are reported at Capital Stock is reported at The Balance sheet is useful in determining the proportion of financing from debt and equity....
Which of the following would NOT be considered a fixed asset? O A. Copper O B. Equipment OC. Vehicle OD. Land
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...
Cash equivalents include short-term, highly liquid trading investments plus accounts receivable less any bank overdrafts. O are reported as non-current assets. O include short-term, highly liquid trading investments less any bank overdrafts. O include all investments in shares.
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