What is the amount of total current liabilities? (a) 35,000 (b) 40,000 (c) 50,000 (d) 60,000 Black
Question:
What is the amount of total current liabilities?
(a) £35,000
(b) £40,000
(c) £50,000
(d) £60,000
Black and Partners has listed the following amounts in its statement of financial position (balance sheet)
Transcribed Image Text:
Cash Buildings Trade payables (creditors) Taxes payable within one year Trade receivables (debtors) Plant and equipment Inventory (Stock) 10,000 75,000 25,000 15,000 55,000 30,000 60,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
b Trade paya...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
On January 1, 2018, A, B and C formed ABC Partnership with original capital contribution of P300,000, P500,000 and P200,000. A is appointed as managing partner. During 2018, A, B and C made...
-
On January 1, Intergen, Inc., invests $200,000 for a 40% interest in Ryan, a new joint venture with two other partners, each investing $150,000 for 30% interest. Intergen plans to sell all of its...
-
Ques 1: What is the major complaint by firms concerning the Sarbanes-Oxley act of 2012? A. the legislative maximum allowable compensation for a CEO. B. the legal requirement to disclose project...
-
A 2-kg picture is hung by two wires of equal length. Each makes an angle of ? with the horizontal, as shown in Figure. (a) Find the general equation for the tension T, given ? and weight w for the...
-
Look again at Solved Problem 29.3, where the saving and investment equation S = I + NX is derived. In deriving this equation, we assumed that national income was equal to Y. But Y only includes...
-
ANCAP Oil Co. stock has a PE ratio equal to 22, whereas VRC Oil has a PE ratio equal to 20. Both firms earnings per share are \($1.12.\) Calculate both firms stock prices. In the IPO, eBay issued...
-
What is the relationship between objectives, strategies and tactics?
-
McCool Corporation wholesales repair products to equipment manufacturers. On April 1, 2010, McCool Corporation issued $30,000,000 of five-year, 10% bonds at a market (effective) interest rate of 8%,...
-
1. How is solar energy harnessed? 2. What is a photovoltaic cell and how does it work?
-
Imogen runs the Manor Park Hotel in Powys, Wales. She purchased the 50-bedroom hotel 10 years ago. She is wondering if the business is trading as well as it could be and would like a report stating...
-
What is the amount of the ownership interest? (a) 65,000 (b) 85,000 (c) 170,000 (d) 190,000 Black and Partners has listed the following amounts in its statement of financial position (balance sheet)...
-
What is the amount of total non-current (fixed) assets? (a) 75,000 (b) 105,000 (c) 130,000 (d) 190,000 Black and Partners has listed the following amounts in its statement of financial position...
-
Ray Steen recently started a business. During the first few days of operation, Mr. Steen transferred $100,000 from his personal account into a business account for a company he named Steen...
-
Sales taxes are fairer than income taxes because sales taxes cannot be avoided by the rich. Evaluate this idea. Describe the evidence about the distribution of sales tax burdens among different...
-
In thinking about the effects of state or local government fiscal policy on economic development, attention is usually focused on what government can do to attract economic activity. Some communities...
-
Only about half the states include most admissions to entertainment events as part of the state sales tax; the other half include only a few or no admissions in the tax base. Explain why the sale of...
-
Gross receipts, value added, and net income are three different potential business tax bases. For each of three firms an automobile manufacturer (assembly plant), a food retailer, and a...
-
If a road is congested, then it is too small for the demand. The road should be expanded or replaced. True, false, or uncertain? Explain your answer.
-
Carmel Department Store uses the retail inventory method. On December 31, 2011, the following information relating to the inventory was gathered: Compute the ending inventory value at December 31,...
-
Michelles trust is subject to 3.8% surtax on the lesser of the trusts net investment income or the excess of the trusts adjusted gross income over the $12,400 threshold (the highest trust tax rate)....
-
How is a provision for doubtful debts decided upon?
-
How is a provision for doubtful debts decided upon?
-
How is a provision for doubtful debts decided upon?
-
Because of the expansion possibilities brought about by the effects of deregulation and a good demand forecast, you are considering adding a salesperson to your staff. A competing airline, which is...
-
Which approach to management ('classic-formal' or 'rhumanized') seems to you to dominate in the press kit company? PRESENTATION OF THE BORALEX COMPANY https://fr.wikipedia.org/wiki/Boralex BUSINESS:...
-
Established in 2009, OC Fitness Coach is an elite personal training, nutrition coaching, and wellness service located in Mission Viejo. OCFC has 7 personal trainers and about 70 monthly clients who...
Study smarter with the SolutionInn App