FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A Business has the following items in it: land $1,500,000, machinery, $80,000, cash $20,000, owners equity $900,000 and loans $500,000. What is the value of

A Business has the following items in it: land $1,500,000, machinery, $80,000, cash $20,000, owners equity $900,000 and loans $500,000. What is the value of the creditors?
a. $200,000
b. $700,000
c. $800,000
d. $1,100,000
e. none of the above.
please show how you got the answer

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting A Smart Approach

Accounting A Smart Approach

Authors: Mary Carey, Jane Towers Clark, Cathy Knowles

1st Edition

0199587418, 978-0199587414

More Books

Students also viewed these Accounting questions

Question

★★★★★
What is the real risk-free rate of interest (r*) and the nominal risk-free rate (rRF)? How are these two rates measured?

Answered: 1 week ago

Question

★★★★★
Why are there so many conceptual classifications of information systems? Why are they typically integrated in the information systems found in the real world?

Answered: 1 week ago

Question

★★★★★
Prove Equation (5.22).

Answered: 1 week ago

Question

★★★★★
In 1999, Andreas Halvorsen, David Ott, and Brian Olson formed a hedge fund, Viking Global Investors LLC. The LLC's written agreement provided that the three founders would operate Viking, and divide...

Answered: 1 week ago

Question

★★★★★
3. Compute the allowable MACRS, section 179 and special first year write-off for Good Corp. (GC). GC elected all write-offs unless indicated otherwise. Use exhibit 10-3 on page 10-9 for MACRS period...

Answered: 1 week ago

Question

★★★★★
All tax-deferred pension plans have an accumulation period and a distribution period

Answered: 1 week ago

Question

★★★★★
ANSWER WITH SOLUTION: 1.The statement of financial position of A, B, C partnership as of December 31, 2020 is presented below:

Answered: 1 week ago

Question

★★★★★
Question 1 The Braveheart Corporation uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has two departments: cutting and painting. The Cutting Department...

Answered: 1 week ago

Question

★★★★★
Simulate a Merge Conflict E. Introduce a merge conflict with the "Test" branch by doing the following: add the git version number to the README.md file on the Working branch merge the "Test" branch...

Answered: 1 week ago

Question

★★★★★
1. [4 Points] Use the Basic Differentiation Rules/Formulas to find the Derivative. Simplify your final answer algebraically and express it in radical notation. f(x) = [xx + 1 131] [x - 1/1/1]

Answered: 1 week ago

Question

★★★★★
You finally saw the couch you need: the colour is perfect (royal blue), the length is just right (it could seat you, your husband, and the kids), and the style is ideal for your furnishings (modern...

Answered: 1 week ago

Question

★★★★★
Can the influencing process really be conducted ethically and in a way that meets the goal of human relations, or is it just manipulation?

Answered: 1 week ago

Question

★★★★★
Think of a past, present, or future negotiation situation. Describe the situation and state what you can ask for in return if you dont get your target.

Answered: 1 week ago

Question

★★★★★
In bargaining, does it really matter who makes the first offer?

Answered: 1 week ago

Previous Question Next Question