Question
Use the following to answer questions 19 24 The following information from the 12/31 balance sheet, listed in alphabetical order, regarding ANG Corporation: Accounts payable
Use the following to answer questions 19 24
The following information from the 12/31 balance sheet, listed in alphabetical order, regarding ANG Corporation:
| Accounts payable | $20,000 | Inventory | $180,000 |
| Accounts receivable | 25,000 | Land | 250,000 |
| Automobiles, net | 300,000 | Long-term investment | 150,000 |
| Bond payable | 1,000,000 | Notes payable, due 11 months | 10,000 |
| Buildings, net | 1,250,000 | Patents | 12,000 |
| Common stock | 500,000 | Payroll taxes payable | 1,000 |
| Cash | 15,000 | Prepaid expenses | 2,000 |
| Income tax payable | 35,000 | Retained earnings | 616,000 |
| Interest payable | 3,000 | Supplies | 1,000 |
19. $__________. How much are the current assets?
20. $__________. How much are the total assets?
21. $_________. How much are the current liabilities?
22. $_________. How much are the total liabilities?
23. $_________. How much is the total stockholders equity?
24. __.__ __ What is the current ratio, (round to two decimal places)?
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Auditing Principle And Practice
Authors: Satyabrata Tripathy
1st Edition
9332519382, 9789332519381
