Question 1 of 10 -13 View Policies Current Attempt in Progress Sunland Company started the year with total assets of $318000 and total liabilities of $258000. During the year the business recorded $631000 in revenues, $326000 in expenses, and dividends of $55000. The net income reported by Sunland Company for the year was O $185000 O $305000. O $250000 O $575000 Oriole Company compiled the following financial information as of December 31, 2022: Service revenue Common stock Equipment Operating expenses Cash Dividends Supplies Accounts payable Accounts receivable Retained earnings, 1/1/22 $836000 194000 240000 732000 202000 56000 25000 120000 95000 443000 Oriole's assets on December 31, 2022 are: O $1402000. $480000. $1012000 O $562000. $1181000 246000 311000 386400 96600 Service revenue Common stock Equipment Salaries and wages expense Rent expense Depreciation expense Cash Dividends Supplies Accounts payable Accounts receivable Retained earnings, 1/1/22 483000 275000 82000 35000 162000 103500 599000 Novak's total assets at December 31, 2022 are: $1905500. $1323500. $622000 $724500. Based on the following data, what are total liabilities? Accounts payable Accounts receivable Cash Inventory Buildings Bonds payable Supplies Notes payable Equipment $62000 50000 81000 146000 158000 525000 8700 63000 369000 O $650000 O $587000 O $125000 $588000 Based on the following data, what is the amount of current assets? Accounts payable Accounts receivable Cash Intangible assets Inventory Long-term investments Long-term liabilities Short-term investments Notes payable Property, plant, and equipment Prepaid insurance $62000 113500 71500 113500 138000 166500 193000 78500 55500 1300000 2100 O $265600 O $245600 O $263500 O $403600 Question 7 of 10 -/3 View Policies Current Attempt in Progress The Bramble Corp. has five plants nationwide that cost $295 million. The current fair value of the plants is $490 million. The plants will be reported as assets at $785 million O $195 million $490 million. O $295 million -13 Question 8 of 10 Use the following data to determine the total dollar amount of assets to be classified as current assets. $137500 17200 157500 $312200 Cash and cash equivalents Accounts receivable Inventory Prepaid insurance Stock investments Land Buildings Less: Accumulated depreciation Pina Colada Corp Balance Sheet December 31, 2022 $74000 Accounts payable Salaries and wages 86000 payable 138500 Bonds payable 75000 Total liabilities 194000 196000 $207000 Common stock (67000) 140000 Retained earnings Total stockholders 126000 equity Total liabilities and $1029500 stockholders equity $235300 482000 Trademarks $717300 Total assets $1029500 Question 9 of 10 -/3 View Policies Current Attempt in Progress Skysong, Inc. has assets of $4344000, common stock of $1078000, and retained earnings of $623000. What are the creditors' claims on their assets? O $4827000 O $1957000 $2643000 O $3973000 Question 10 of 10 View Policies Current Attempt in Progress Using the following balance sheet and income statement data, what is the current ratio? Current assets $38500 $43300 14800 Net income Stockholders equity Total liabilities Current liabilities Average assets Total assets 79800 41500 157700 130000 Average common shares outstanding was 15600. O 2.6:1 O 3.0:1 O 04:1 O 2.7:1
