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My answers for B,C,D,E,F (that bottom 5 questions) are wrong, but I can't figure out how to get the correct answers. Can some one provide
My answers for B,C,D,E,F (that bottom 5 questions) are wrong, but I can't figure out how to get the correct answers. Can some one provide the formulas?
TYIA!!
Current Assets | |
Cash | $500,000 |
Accounts Receivable | $200,000 |
Inventory | $150,000 |
Total Current Assets | $850,000 |
Property,Plant,Equipment | |
Property,Plant,Equipment | $490,000 |
Total Assets | $1,340,000 |
Balance Sheet - Liabilities and Equity | |
Current Liabilities | |
Current Portion of Long-term Debt | $50,000 |
Accounts Payable | $120,000 |
Income Taxes Payable | $50,000 |
Salaries Payable | $100,000 |
Total Current Liabilities | $320,000 |
Long-Term Debt | |
Long-Term Debt | $450,000 |
Total Liabilities | $770,000 |
Retained Earnings | $570,000 |
Total Liabilites & Equity | $1,340,000 |
Based upon your Balance Sheet, answer the following in the space provided: | |
How much does the hospital own? | ($1,020,000) |
What are the total current assets? | $ 1,910,000 |
How much does the hospital owe to others? | $770,000 |
What are current assets minus current liabilities? | $570,000 |
What are the hospital's total liabilities and retained earnings? | $1,020,000 |
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