The assets classified as current assets are equal to a. $667,000. b. $494,500. c. $414,000. d. $333,500.
Question:
The assets classified as current assets are equal to
a. $667,000.
b. $494,500.
c. $414,000.
d. $333,500.
Transcribed Image Text:
Cash at bank Prepaid insurance Accounts receivable Inventory Investment land Land Building Less: Accumulated depreciation Trademark Total assets Yasco Office Supplies Balance Sheet December 31, 20XX $149,500 $ 69,000 $115,000 Accounts payable Salaries payable Mortgage payable $161,000 Total liabilities $172,500 $207,000 $230,000 Common stock ($ 46,000) Retained earnings $184,000 $161,000 $1.219,000 Total stockholders' equity Total liabilities and stockholders' equity $161,000 $ 23,000 $207,000 $368,000 $276,000 $575,000 $851,000 $1,219,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
In accounting current assets are assets that are expected to be con...View the full answer
Answered By
Shameen Tahir
The following are details of my Areas of Effectiveness. The following are details of my Areas of Effectiveness English Language Proficiency, Organization Behavior , consumer Behavior and Marketing, Communication, Applied Statistics, Research Methods , Cognitive & Affective Processes, Cognitive & Affective Processes, Data Analysis in Research, Human Resources Management ,Research Project,
Social Psychology, Personality Psychology, Introduction to Applied Areas of Psychology,
Behavioral Neurosdence , Historical and Contemporary Issues in Psychology, Measurement in Psychology, experimental Psychology,
Business Ethics Business Ethics An introduction to business studies Organization & Management Legal Environment of Business Information Systems in Organizations Operations Management Global Business Policies Industrial Organization Business Strategy Information Management and Technology Company Structure and Organizational Management Accounting & Auditing Financial Accounting Managerial Accounting Accounting for strategy implementation Financial accounting Introduction to bookkeeping and accounting Marketing Marketing Management Professional Development Strategies Business Communications Business planning Commerce & Technology Human resource management General Management Conflict management Leadership Organizational Leadership Supply Chain Management Law Corporate Strategy Creative Writing Analytical Reading & Writing Other Expertise Risk Management Entrepreneurship Management science Organizational behavior Project management Financial Analysis, Research & Companies Valuation And any kind of Excel Queries.
4.70+
16+ Reviews
34+ Question Solved
Related Book For
Principles Of Islamic Accounting
ISBN: 9781119023296
1st Edition
Authors: Nabil Baydoun, Maliah Sulaiman, Roger J. Willett, Shahul Ibrahim
Question Posted:
Students also viewed these Business questions
-
After applying the regulator-stipulated risk weightings, FanBank has estimated that it has risk-weighted assets of $10.30 billion out of a total asset figure of $29.03 billion. What is the total...
-
It is February 15, 2021, and you are working as the senior auditor for the Harper, Sanders & Bentley CPA firm on the December 31, 2020, year-end financial statement audit of Acme Manufacturing...
-
Find the digital output of a 4-bit Successive Approximation ADC when the analog input is 13.6 V .and (LSB) of SAR is 1.5 V
-
Explain the relationship between three Statement objects, and illustrate why and how the CallableStatement object can use the setXXX() methods defined in the PreparedStatement interface.
-
A Hat sheet of paper of area 0.250 m2 is oriented so that the normal to the sheet is at an angle of 60 to 8 uniform electric field of magnitude 14 N/C. (a) Find the magnitude of the electric flux...
-
Determine Method, Consolidated Workpaper, Wholly Owned Subsidiary Parry Corporation acquired a 100% interest in Sent Company on January 1, 2002, paying $140,000. Financial statement data for the two...
-
4. Explain how an increase in inflation affects a companys depreciation tax shields and what would be the resulting impact on the companys value.
-
In March, Lasso Manufacturing had the following unit production costs: materials $10 and conversion costs $8. On March 1, it had zero work in process. During March, Lasso transferred out 22,000...
-
Suppose a firm has 58 million shares of common stock outstanding and ten candidates are up for election to eight seats on the board of directors. a. If the firm uses cumulative voting to elect its...
-
Assets classified as property, plant, and equipment are equal to a. $736,000. b. $391,000. c. $563,500. d. $437,000. Cash at bank Prepaid insurance Accounts receivable Inventory Investment land Land...
-
The purchase of machinery is classified in the cash flow statement as a. cash flow from operating activities. b. cash flow from assets purchases. c. cash from investment activities. d. cash flow from...
-
Convert the MileConversions program to an interactive application. Instead of assigning a value to the miles variable, accept it from the user as input. Save the revised program as...
-
1. The KYM company wants to invest $ 523,000 pesos in the bank that guarantees a simple interest rate of 3.32% quarterly. If the company is considering the 8-month investment. What amount will you...
-
3. (5 points) The uncertainty principle limits our ability to determine simultaneously the position and momentum of a particle. (a) Why were classical physicists unaware of the limitations that this...
-
CASE STUDY Patient Name Valarie Ramirez Attending Paul F. Buckwalter, MD PATIENT INFORMATION DOB 08/04/1986 Allergies MAN 00-AA-006 Penicillin Other Information Past HX: AB x1 Valarie Ramirez arrives...
-
Petesy Corporation is preparing its Master Budget for 2019. Budget information is as follows: SalesProduction CostOperating Expenses 20191 st Quarter P280,000P192,000P64,000 2 nd Quarter 320,000...
-
A steady flow of 20 m3/s of moist air at TDB = 35iC, TWB = 25iC, 100 kPa (state 1) is dehumidified by first cooling it and condensing out moisture (state 2), then reheating it to 20iC and 50% R.H....
-
In some systems it is possible to map part of a file into memory. What restrictions must such systems impose? How is this partial mapping implemented?
-
Saccharin is an artificial sweetener that is used in diet beverages. In order for it to be metabolized by the body, it must pass into cells. Below are shown the two forms of saccharin. Saccharin has...
-
As the director of the multistate tax planning department of a consulting firm, you are developing a brochure to highlight the services it can provide. Part of the brochure is a list of five or so...
-
Castle Corporation conducts business in States 1, 2, and 3. Castle's $630,000 taxable income consists of $555,000 apportionable income and $75,000 allocable income generated from transactions...
-
Complete the following chart by indicating whether each item is true or false. Explain your answers by referencing the overlap of rules appearing in Federal and most state income tax laws. True or...
-
Provide a graph chart or data with sample numbers indicating Valuing Stocks and Bonds?
-
I just need help with part b. It says that the answer is not complete and some are wrong. So can you kindly fix it for me and give me the full answers as it says the answer is "not complete". Thank...
-
What is Coke's average ownership percentage in its equity method investments? Goodwill is 7000 Calculate the firm's current ratio (current assets/current liabilities). Calculate the current ratio...
Study smarter with the SolutionInn App