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Question 2 part A and B A. Janson Corporation Co.'s trial balance included the following account balances at December 31, 2018: Accounts payable $25,200 Bond
Question 2 part A and B
A. Janson Corporation Co.'s trial balance included the following account balances at December 31, 2018:
Accounts payable | $25,200 |
Bond payable, due 2027 | 23,800 |
Salaries payable | 17,000 |
Note payable, due 2019 | 21,300 |
Note payable, due 2023 | 41,800 |
What amount should be included in the current liabilities section of Janson's December 31, 2018, balance sheet?
Multiple Choice
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$105,300.
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$63,500.
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$66,000.
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$42,200.
B. The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below.
Assets | Liabilities and Equity | ||||||
Current assets: | Current liabilities: | ||||||
Cash | $ | 76 | Accounts payable | $ | 231 | ||
Accounts receivable (net) | 183 | Other liabilities | 67 | ||||
Notes receivable | 67 | Total current liabilities | 298 | ||||
Inventories | 219 | Long-term liabilities | 104 | ||||
Prepaid expenses | 27 | Total liabilities | 402 | ||||
Total current assets | 572 | Shareholders' equity: | |||||
Plant assets (net) | 257 | Capital stock | 149 | ||||
Retained earnings | 278 | ||||||
Total shareholders' equity | 427 | ||||||
Total assets | $ | 829 | Total liabilities and equity | $ | 829 | ||
The acid-test ratio is (Round your answer to two decimal places.):
Multiple Choice
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1.92.
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1.09.
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0.33.
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1.42.
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