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Need help finding Total long-term assets/total long-term liabilities/ Total current liabilities. Then Current Ratio/Acid-test ratio/debt-to-equity ration/times interest earned ratio (tax expense=0) Balance Sheet on December
Need help finding Total long-term assets/total long-term liabilities/ Total current liabilities. Then Current Ratio/Acid-test ratio/debt-to-equity ration/times interest earned ratio (tax expense=0)
Balance Sheet on December 31, 2016: (1) before the adjusting entries, (2) after the adjusting entries and (3) after the closing entry Account title (1) Unadjusted Amount (2) Adjusted Amount (3) Post Closing Amount Cash (A) 483653 483653 483653 Inventory (A) 20581 20581 20581 Prepaid Rent Expense (A) 12060 6030 6030 Property/Plant/Equipment (A) 15145 15145 15145 Accumulated Depreciation (XA) 0 - 1377 -1377 Total Assets 531439 524032 524032 Accounts Payable (L) 64316 64316 64316 Deferred Revenue (L) 40156 40156 40156 Interest Payable (L) 0 661 661 Note Payable (L) 37749 37749 37749 Total Liabilities 142221 142882 142882 Common Stock (SE) 358604 358604 358604 Retained Earnings (SE) 30614 22547 22547 Total Equity 389218 381151 381151 Total Liabilities and Equity 531439 524032 524032 Indicate the following amounts for P's Cash flow Statement for the year ended 2016 Amount Cash from Operating Activities 102445 Cash from Investing Activities -15145 Cash from Financing Activities 396353 Net Change in Cash 483653 Indicate the following amounts that would appear on P's Classified Balance Sheet for the year ended 2016 Amount Total Current Assets 510264 Total Long-term Assets 15145 x Total Current Liabilities 142882 X Total Long-term Liabilities 0 xStep by Step Solution
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