Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help with this page and explanations on how to do them! Thank you! 201 Articulation 1. At the end of the year, a company

Need help with this page and explanations on how to do them! Thank you! image text in transcribed
201 Articulation 1. At the end of the year, a company has the following balances: Current Assets s5,000 Non-current Assets- $145,000, Current Liabilitios $40,000. Assume no stock transactions. What is the amount of total liabilitics and equities? a. $100,000 b. $160,000 c $200,000 d. Cannot be calculated with the information provided e. None of the above A 200,000 2. At the end of the year, a company has the following balances: Current Assets $$5,000 Non-current Assets $145,000, Current Liabilities $40,000. Assume no stock transactions. Ifnon-current liabilities $35,000, what is the end of the year shareholder's equity balance? a. b. c. d. e. $200,000 $165,000 $125,000 Cannot be calculated with the information provided none of the above Current Assets- $55,000, At the end of the year, a company has the following balances: Non-current Assets-$145,000; Current Liabilities $40,000. Assume no stock transactions. If the company eamed $15,000 net income for the year and paid $5,000 in dividends, how much was beginning shareholder's equity? 3. a. $135,000 b. $115,000 c. $105,000 d. Cannot be calculated with the information provided e. none of the above 4. At the end of the year, a company has the following balances: Current Assets -$65,000, Non-current Assets $145,000, Current Liabilities- $50,000. Assume no stock transactions. What is the amount of total liabilities and equities? a. $135,000 b. $150,000 c. $210,000 d. Cannot be caleulated with the information provided e. None of the above 5. At the end of the year, a company has the following balances: Current Assets $65,000, Non-current Assets-$145,000, Current Liabilities $50,000. Assume no stock transactions. If non-current liabilities $45,000, what is the end of the year shareholder's equity balance? a. $165,000 b. $160,000 c. $115,000 d. Cannot be calculated with the information provided e. none of the above

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_2

Step: 3

blur-text-image_3

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

Auditor Jokes The Ultimate Collection Of Auditor Jokes

Authors: Chester Croker

1st Edition

1080090169, 978-1080090167

More Books

Students also viewed these Accounting questions

Question

Understanding Groups

Answered: 1 week ago