Question
Create a balace sheet for January 1, 2019 based on the information below and then answer the questions that follow. Accounts payable $12,000 Accounts receivable
Create a balace sheet for January 1, 2019 based on the information below and then answer the questions that follow.
Accounts payable $12,000
Accounts receivable $8,250
Accrued interest on land loan of $2,000
Breeding livestock (raised) $165,000
Checking account balance $17,500
Crops $125,000
Machinery and equipment $275,000
Market livestock $115,000
Net present value of land $1,500,000
Principal loan payment on land of $40,000 leaving a remaining balance of $920,000
Taxes payable $17,000
What was the total value of intermediate assets on January 1, 2019?
What was the total value of assets on January 1, 2019?
What was the total value of current liabilities on January 1, 2019?
What was the total value of liabilities on January 1, 2019?
How much profit did the farm make as of January 1, 2019?
What was the farm's current ratio?
What was the farm's working capital?
What was the farm's debt to equity ratio?
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