Use the following information to answer the questions. A company reports the following on its balance...
Use the following information to answer the questions. A company reports the following on its balance sheet:
· Cash: $10,000
· Accounts receivable: $20,000
· Inventory: $14,000
· Prepaid expenses: $3,000
· Property, plant, and equipment: $35,000
· Accumulated depreciation: $2,000
· Accounts payable: $5,000
· Accrued expenses: $6,000
· Short-term notes: $7,000
· Long-term notes: $10,000
· Capital stock: $40,000
· Retained earnings: $12,000
1. What are the company’s total liabilities?
2. What is the company’s total equity?
Homework Answers
| 1 | |
| Accounts payable | 5000 |
| Accrued expenses | 6000 |
| Short-term notes | 7000 |
| Long-term notes | 10000 |
| Total liabilities | 28000 |
| 2 | |
| Capital stock | 40000 |
| Retained earnings | 12000 |
| Total equity | 52000 |
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Use the following information to answer the questions. A company
reports the following on its balance...
DATA Use the following information to answer the questions. A company reports the following on its...
DATA Use the following information to answer the questions. A company reports the following on its balance sheet: Cash: $10,000 Accounts receivable: $20,000 Inventory: $14,000 Prepaid expenses: $3,000 Property, plant, and equipment: $35,000 Accumulated depreciation: $2,000 Accounts payable: $5,000 Accrued expenses: $6,000 Short-term notes: $7,000 Long-term notes: $10,000 Capital stock: $40,000 Retained earnings: $12,000 What are the company’s total liabilities? What is the company’s total equity?
1. What are the company’s total liabilities? 2. What is the company’s total equity? 3. What...
1. What are the company’s total liabilities?
2. What is the company’s total equity?
3. What are the company’s total assets?
Accounts Payable 5,000 Long-term Notes Receivable 10,000 Accounts Receivable 15,000 Accrued Expenses 3,000 Cash 10,000 Short-term Notes Payable 7,000 Retained Earnings 2,000 Accumulated depreciation 2,000 Prepaid Expenses 3,000 Capital Stock 8,000 Supplies 7,000
Adams Co. reports the following balance sheet accounts as of December 31. $ Salaries payable Buildings...
Adams Co. reports the following balance sheet accounts as of December 31. $ Salaries payable Buildings Prepaid rent Merchandise inventory Accounts payable Prepaid insurance Accounts receivable Common stock 6,000 Retained earnings 55,000 Notes payable (due in 9 years) 7,000 office supplies 14,000 Land 10,000 Accumulated depreciation-Building 3,000 Mortgages payable (due in 5 years) 4,000 Cash 10,000 $ 50,000 30,000 2,000 22,000 5,000 12,000 16,000 Required: Prepare a classified balance sheet. (Amounts to be deducted should be indicated by a minus...
Privett Company Accounts payable $ 30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets...
Privett Company Accounts payable $ 30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets 40,000 Inventory 72.000 Long-term investments 100,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 20,000 Property, plant, and equipment 400,000 Prepaid expenses 2,000 Based on the data for Privett Company, what is the amount of quick assets? $168,000 $60,000 $96,000 $61,000
Prepare a Statement of Cash Flows using the direct method. Use the following information: The following...
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From the problem below, identify which ones are operating assets, operating liabilities, operating revenues and operating expenses. Income Statement 2018 2017 Sales Revenue $180,000 $165,000 Cost of Goods Sold 110,000 100,000 Gross Profit 70,000 65,000 Operating expenses 53,300 50,400 Interest expense 2,700 2,600 Income before income tax 14,000 12,000 Income tax expense 4,000 3,000 Net Income $10,000 $9,000 Balance Sheet 2018 2017 Cash $22,000 $16,000 Accounts Receivable (net) 19,000 17,000 Investments (short-term) 3,000 5,000 Inventory 34,000 30,000 Prepaid Expenses 2,000...
From owner's capital and down which selection is credit and debit D&G Catering Company Trial Balance...
From owner's capital and down which selection is credit and
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1. Based on the following data, what is the amount of working capital? Accounts payable....................$32,000 Accounts...
1. Based on the following data, what is the amount of working capital? Accounts payable....................$32,000 Accounts receivable....................64,000 Accrued liabilities....................7,000 Cash.........................................20,000 Intangible assets............................40,000 Inventory...............................................72,000 Long-term investments...............................100,000 Long-term liabilities.....................................75,000 Marketable securities.................................35,000 Notes payable (short-term)........................20,000 Property, plant, and equipment.................625,000 Prepaid expenses.........................................2,000 WHAT IS WORKING CAPITAL? a. $162,000 b. $134,000 c. $193,000 d. $62,000 2. Use the following data to determine the total dollar amount of assets to be classified as current assets. Cash..............................................$60,000 Prepaid insurance..........................40,000 Accounts receivable......................50,000 Inventory.........................................70,000 Land held for investment................80,000 Land................................................95,000...
1. What are the company’s total liabilities?
2. What is the company’s total equity?
3. What are the company’s total assets?
Accounts Payable 5,000 Long-term Notes Receivable 10,000 Accounts Receivable 15,000 Accrued Expenses 3,000 Cash 10,000 Short-term Notes Payable 7,000 Retained Earnings 2,000 Accumulated depreciation 2,000 Prepaid Expenses 3,000 Capital Stock 8,000 Supplies 7,000
Adams Co. reports the following balance sheet accounts as of December 31. $ Salaries payable Buildings Prepaid rent Merchandise inventory Accounts payable Prepaid insurance Accounts receivable Common stock 6,000 Retained earnings 55,000 Notes payable (due in 9 years) 7,000 office supplies 14,000 Land 10,000 Accumulated depreciation-Building 3,000 Mortgages payable (due in 5 years) 4,000 Cash 10,000 $ 50,000 30,000 2,000 22,000 5,000 12,000 16,000 Required: Prepare a classified balance sheet. (Amounts to be deducted should be indicated by a minus...
Privett Company Accounts payable $ 30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets 40,000 Inventory 72.000 Long-term investments 100,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 20,000 Property, plant, and equipment 400,000 Prepaid expenses 2,000 Based on the data for Privett Company, what is the amount of quick assets? $168,000 $60,000 $96,000 $61,000
Prepare a Statement of Cash Flows using the direct method. Use
the following information:
The following information is available for 2017.
Equipment (cost $10,000 and accumulated depreciation $4,000)
was sold for $7,000. All other changes in Property, Plant and
Equipment accounts relate to purchases and depreciation expense,
respectively.
Intangible Assets costing $10,000 were purchased during
2017.
There were $25,000 in payments on the Bonds Payable during
2017
12/31/2016 Closing Trial Balance 55,000 70,000 (4,000) 80,000 9,000 - Cash Accounts Receivable...
From owner's capital and down which selection is credit and
debit
D&G Catering Company Trial Balance September 30th, 2020 Credit $ Debit 54,000 48,000 317,000 30,000 70,000 19,000 270,000 12,000 48,000 36,000 4,000 5,000 20,000 8,000 24,000 Cash Land Equipment Short Term Investment Inventory Trademark Building Franchise Account Receivable Delivery Van Interest Receivable Office Supplies PREPAID LEGAL EXPENSES PREPAID ADVERTISING EXPENSE UNEARNED CATERING REVENUE ACCOUNTS PAYABLE MORTGAGE PAYABLE SALARY PAYABLE INCOME TAX PAYABLE NOTES PAYABLE Owner's Capital Owner's Drawing CATERING...
I need help finding the dividends
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