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The following items were taken from the financial statements of Panda Hypermarket Company. (All dollars are in thousands.) Common stock $2,826 Cash $1,728 Prepaid expenses
The following items were taken from the financial statements of Panda Hypermarket Company. (All dollars are in thousands.) Common stock $2,826 Cash $1,728 Prepaid expenses 1,366 Accumulated depreciation equipment 3,547 Equipment 6,705 Accounts payable Investments- Long term 2,847 Note payable - Long term Retained earnings 6,896 Investments Short-term Accounts receivable 1,277 Income taxes payable 1,344 810 1,743 243 Instructions Prepare a classified balance sheet in good form as of December 31, 2009 and answer the questions below. 1. Find the total current assets: A. 6,114. B. 4,371. 6. Total long-term liability A. 1,250. B. 810. C. 1,350. C. 4,837. D. 4,748. 2. Find the total of property, plant, and equipment A. 6,705. B. 3,158. C. 3,858. D. 5,535. 3. Long term Assets: A. 3,750. D. 1,450. 7. Total of shareholder equity: A. 10,000. B. 8,722. C. 9,722. D. 7,500. 8. Total liabilities and shareholder equity: A. 13,119. B. 2,750. B. 12,590. C. 2,847. D. 3,500. 4. Total Assets: A. 13,119. B. 12,590. C. 13,590. D. 12,119. 5. Total current liability: A. 1,587. B. 1,450. C. 1,687. D. 2,000. C. 13,590. D. 12,119. 9. Calculate the liquidity by using current ratio: A. 3.85. B. 0.26. C. All above. D. None above. 10. Calculate the (Solvency ratio) debt to total assets ratio: A. 39.2% B. 35% C. 45% D. 50%
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