1. Refer to the following list of liability balances at December 31, 2019. Accounts Payable $...
1. Refer to the following list of liability balances at December 31, 2019.
|
Accounts Payable |
$ 18,000 |
|
Employee Health Insurance Payable |
1,350 |
|
Employee Income Tax Payable |
1,300 |
|
Estimated Warranty Payable (Due 2020) |
1,300 |
|
Longminus−Term Notes Payable (Due 2022) |
37,000 |
|
FICAlong dash—OASDI Taxes Payable |
1,060 |
|
Sales Tax Payable |
670 |
|
Mortgage Payable (Due 2023) |
12,000 |
|
Bonds Payable (Due 2024) |
56,000 |
|
Current Portion of Longminus−Term Notes Payable |
6,500 |
What is the total amount of longminus−term liabilities?
A 49000
B 93000
C 37000
D 105000
2. The debt to equity ratio of four companies is given below.
|
Debt to equity ratio |
|
|
Lewis, Inc. |
1.30 |
|
Jackson, Inc. |
1.50 |
|
Jones Corp. |
0.88 |
|
Roberts Corp. |
0.92 |
Which of the following companies has the greatest financial risk?
A Jones Corp
B Lewis,Inc
C Roberts Corp
D Jackson, Inc
3. A company that reports a discontinued operation must also report earnings per share for this item in the notes to the financial statements. T/F
4. Which of the following deductions is paid by both the employer and employee?
A. federal income taxes
B. federal unemployment taxes
C. FICA taxes
D. SUTA taxes
4. Using the effective-interest amortization method, the amount of premium amortization remains the same over the life of the bond. T/F
5. Earnings per share is calculated as net income plus preferred dividends divided by the average number of common shares outstanding. T/F
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1. Refer to the following list of liability balances at December 31, 2019. Accounts Payable $...
Refer to the following list of liability balances at December 31, 2019. Accounts Payable $13,000 Employee...
Refer to the following list of liability balances at December 31, 2019. Accounts Payable $13,000 Employee Health Insurance Payable 850 Employee Income Tax Payable 700 Estimated Warranty Payable (Due 2020) 1,000 Longminus−Term Notes Payable (Due 2022) 34,000 FICAlong dash—OASDI Taxes Payable 1,460 Sales Tax Payable 970 Mortgage Payable (Due 2023) 13,000 Bonds Payable (Due 2024) 59,000 Current Portion of Longminus−Term Notes Payable 3,500 What is the total amount of long−term liabilities? A.$47,000 B.$93,000 C.$106,000 D.$ 34,000
Refer to the following list of liability balances at December 31, 2019. Accounts Payable $13,000 Employee...
Refer to the following list of liability balances at December 31, 2019. Accounts Payable $13,000 Employee Health Insurance Payable 1,150 Employee Income Tax Payable 1,200 Estimated Warranty Payable (Due 2020) 1,500 Long-Term Notes Payable (Due 2022) 41,000 FICA-OASDI Taxes Payable 1,160 Sales Tax Payable 770 Mortgage Payable (Due 2023) 8,000 Bonds Payable (Due 2024) 59,000 Current Portion of Long - Term Notes Payable 5,500 What is the total amount of long-term liabilities? A. $100,000 OB. $108,000 OC. $41,000 OD. $49,000...
Refer to the following list of liability balances at December 31, 2019 Accounts Payable Employee Health...
Refer to the following list of liability balances at December 31, 2019 Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable (Due 2020) Long Term Notes Payable (Due 2022) FICA OASDI Taxes Payable Sales Tax Payable Mortgage Payable (Due 2023) Bonds Payable (Due 2024) Current Portion of Long Term Notes Payable What is the total amount of lona -term liabilities? $22,000 650 1,000 700 34,000 1,060 670 15,000 60,000 12,500 O A. $94,000 O B. $49,000...
Refer to the following list of liability balances at December 31, 2019. Accounts Payable Employee Health...
Refer to the following list of liability balances at December 31, 2019. Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable (Due 2020) Long-Term Notes Payable (Due 2022) FICA-OASDI Taxes Payable $24,000 1,450 1,000 1,600 43,000 1,060 Sales Tax Payable Mortgage Payable (Due 2023) Bonds Payable (Due 2024) Current Portion of Long Term Notes Payable 1,070 6,000 61,000 9,500 What is the total amount of long-term liabilities? O A. $104,000 O B. $49,000 O C. $110,000...
Refer to the following list of liability balances at December 31, 2017 stio Accounts Payable Employee...
Refer to the following list of liability balances at December 31, 2017 stio Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable Long Term Notes Payable (Due 2021) FICA-OASDI Taxes Payable Sales Tax Payable Mortgage Payable (Due 2022) Bonds Payable (Due 2023) Current Portion of Long - Term Notes Payable $25,000 650 400 1,600 36,000 On January Taggart Sales (Round your 960 470 Q A. $18,4 O B. $24,8 15,000 59,000 O C. $24,3 5,500 Q...
Refer to the following list of liability balances at December 31, 2017. $20,000 1,150 900 1,500...
Refer to the following list of liability balances at December 31, 2017. $20,000 1,150 900 1,500 40,000 Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable Long-Term Notes Payable (Due 2021) FICA-OASDI Taxes Payable Sales Tax Payable Mortgage Payable (Due 2022) Bonds Payable (Due 2023) Current Portion of Long-Term Notes Payable 760 1,070 9,000 60,000 9,500 What is the total amount of long-term liabilities?
Presented here are liability items for Larkspur Inc at December 31, 2022. Accounts payable Notes payable...
Presented here are liability items for Larkspur Inc at December 31, 2022. Accounts payable Notes payable (due May 1, 2023) Bonds payable (due 2026) Unearned rent revenue Discount on bonds payable $227.650 FICA taxes payable $11,310 29,000 Interest payable 58,000 1.305.000 Notes payable (due 2024) 116,000 348,000 Income taxes payable 5.075 59,450 Sales taxes payable 2,465 Prepare the liabilities section of Larkspur's balance sheet. LARKSPUR INC. Balance sheet (Partial)
Presented here are liability items for Marin Inc. at December 31, 2022. Accounts payable Notes payable...
Presented here are liability items for Marin Inc. at December 31, 2022. Accounts payable Notes payable (due May 1, 2023) Bonds payable (due 2026) Unearned rent revenue Discount on bonds payable $141,300 FICA taxes payable $7,020 18,000 Interest payable 36,000 810,000 Notes payable (due 2024) 72,000 216,000 Income taxes payable 3,150 36,900 Sales taxes payable 1,530 Prepare the liabilities section of Marin's balance sheet. MARIN INC. Balance sheet (Partial) We were unable to transcribe this image
Presented here are liability items for Larkspur Inc. at December 31, 2022. Accounts payable $133.450 FICA...
Presented here are liability items for Larkspur Inc. at December 31, 2022. Accounts payable $133.450 FICA taxes payable $6,630 Notes payable (due May 1, 2023) 17,000 Interest payable 34.000 Bonds payable (due 2026) Notes payable (due 2024) 765.000 68.000 Unearned rent revenue Income taxes payable 2,975 204.000 Discount on bonds payable Sales taxes payable 34,850 1,445 Prepare the liabilities section of Larkspur's balance sheet. LARKSPUR INC Balance sheet (Partial) $ Toxthoolkand Madi
Presented here are liability items for Marin Inc. at December 31, 2022. $141,300 $7,020 Accounts payable...
Presented here are liability items for Marin Inc. at December 31, 2022. $141,300 $7,020 Accounts payable FICA taxes payable Notes payable (due May 1, 2023) 18,000 Interest payable 36,000 Bonds payable (due 2026) Notes payable (due 2024) 810,000 72,000 Unearned rent revenue 216,000 Income taxes payable 3,150 Discount on bonds payable 1,530 36,900 Sales taxes payable Prepare the liabilities section of Marin's balance sheet. MARIN INC. Balance sheet (Partial) December 31, 2022
Refer to the following list of liability balances at December 31, 2019. Accounts Payable $13,000 Employee Health Insurance Payable 1,150 Employee Income Tax Payable 1,200 Estimated Warranty Payable (Due 2020) 1,500 Long-Term Notes Payable (Due 2022) 41,000 FICA-OASDI Taxes Payable 1,160 Sales Tax Payable 770 Mortgage Payable (Due 2023) 8,000 Bonds Payable (Due 2024) 59,000 Current Portion of Long - Term Notes Payable 5,500 What is the total amount of long-term liabilities? A. $100,000 OB. $108,000 OC. $41,000 OD. $49,000...
Refer to the following list of liability balances at December 31, 2019 Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable (Due 2020) Long Term Notes Payable (Due 2022) FICA OASDI Taxes Payable Sales Tax Payable Mortgage Payable (Due 2023) Bonds Payable (Due 2024) Current Portion of Long Term Notes Payable What is the total amount of lona -term liabilities? $22,000 650 1,000 700 34,000 1,060 670 15,000 60,000 12,500 O A. $94,000 O B. $49,000...
Refer to the following list of liability balances at December 31, 2019. Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable (Due 2020) Long-Term Notes Payable (Due 2022) FICA-OASDI Taxes Payable $24,000 1,450 1,000 1,600 43,000 1,060 Sales Tax Payable Mortgage Payable (Due 2023) Bonds Payable (Due 2024) Current Portion of Long Term Notes Payable 1,070 6,000 61,000 9,500 What is the total amount of long-term liabilities? O A. $104,000 O B. $49,000 O C. $110,000...
Refer to the following list of liability balances at December 31, 2017 stio Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable Long Term Notes Payable (Due 2021) FICA-OASDI Taxes Payable Sales Tax Payable Mortgage Payable (Due 2022) Bonds Payable (Due 2023) Current Portion of Long - Term Notes Payable $25,000 650 400 1,600 36,000 On January Taggart Sales (Round your 960 470 Q A. $18,4 O B. $24,8 15,000 59,000 O C. $24,3 5,500 Q...
Refer to the following list of liability balances at December 31, 2017. $20,000 1,150 900 1,500 40,000 Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable Long-Term Notes Payable (Due 2021) FICA-OASDI Taxes Payable Sales Tax Payable Mortgage Payable (Due 2022) Bonds Payable (Due 2023) Current Portion of Long-Term Notes Payable 760 1,070 9,000 60,000 9,500 What is the total amount of long-term liabilities?
Presented here are liability items for Larkspur Inc at December 31, 2022. Accounts payable Notes payable (due May 1, 2023) Bonds payable (due 2026) Unearned rent revenue Discount on bonds payable $227.650 FICA taxes payable $11,310 29,000 Interest payable 58,000 1.305.000 Notes payable (due 2024) 116,000 348,000 Income taxes payable 5.075 59,450 Sales taxes payable 2,465 Prepare the liabilities section of Larkspur's balance sheet. LARKSPUR INC. Balance sheet (Partial)
Presented here are liability items for Marin Inc. at December 31, 2022. Accounts payable Notes payable (due May 1, 2023) Bonds payable (due 2026) Unearned rent revenue Discount on bonds payable $141,300 FICA taxes payable $7,020 18,000 Interest payable 36,000 810,000 Notes payable (due 2024) 72,000 216,000 Income taxes payable 3,150 36,900 Sales taxes payable 1,530 Prepare the liabilities section of Marin's balance sheet. MARIN INC. Balance sheet (Partial) We were unable to transcribe this image
Presented here are liability items for Larkspur Inc. at December 31, 2022. Accounts payable $133.450 FICA taxes payable $6,630 Notes payable (due May 1, 2023) 17,000 Interest payable 34.000 Bonds payable (due 2026) Notes payable (due 2024) 765.000 68.000 Unearned rent revenue Income taxes payable 2,975 204.000 Discount on bonds payable Sales taxes payable 34,850 1,445 Prepare the liabilities section of Larkspur's balance sheet. LARKSPUR INC Balance sheet (Partial) $ Toxthoolkand Madi
Presented here are liability items for Marin Inc. at December 31, 2022. $141,300 $7,020 Accounts payable FICA taxes payable Notes payable (due May 1, 2023) 18,000 Interest payable 36,000 Bonds payable (due 2026) Notes payable (due 2024) 810,000 72,000 Unearned rent revenue 216,000 Income taxes payable 3,150 Discount on bonds payable 1,530 36,900 Sales taxes payable Prepare the liabilities section of Marin's balance sheet. MARIN INC. Balance sheet (Partial) December 31, 2022
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