Privett Company
Accounts payable
$35,172
Accounts receivable
61,830
Accrued liabilities
6,449
Cash
18,199
Intangible assets
36,789...
Privett Company
Accounts payable
$35,172
Accounts receivable
61,830
Accrued liabilities
6,449
Cash
18,199
Intangible assets
36,789
Inventory
85,546
Long-term investments
93,954
Long-term liabilities
72,236
Marketable securities
37,578
Notes payable (short-term)
20,447
Property, plant, and equipment
668,167
Prepaid expenses
1,246
Based on the data for Privett Company, what is the amount of
quick assets?
a.$1,608,400
b.$55,777
c.$809,490
d.$117,607
14.
Use the information below for Privett Company to answer the
question that follow.
Privett Company...
14.
Use the information below for Privett Company to answer the
question that follow.
Privett Company
Accounts payable
$ 30,000
Accounts receivable
35,000
Accrued liabilities
7,000
Cash
25,000
Intangible assets
40,000
Inventory
72,000
Long-term investments
100,000
Long-term liabilities
75,000
Marketable securities
36,000
Notes payable (short-term)
20,000
Property, plant, and equipment
400,000
Prepaid expenses
2,000
Based on the data for Privett Company, what is the amount of quick
assets?
a. $168,000
b. $60,000
c. $96,000
d. $61,000
Use the information below for Harding Company to answer the
question that follow.
Harding Company
Accounts...
Use the information below for Harding Company to answer the
question that follow.
Harding Company
Accounts payable
$39,320
Accounts receivable
67,705
Accrued liabilities
6,232
Cash
23,037
Intangible assets
41,193
Inventory
84,505
Long-term investments
96,571
Long-term liabilities
77,519
Marketable securities
34,918
Notes payable (short-term)
21,475
Property, plant, and equipment
686,188
Prepaid expenses
1,937
Based on the data for Harding Company, what is the amount of
working capital?
a.$145,075
b.$684,251
c.$212,102
d.$1,036,054
The Blue Company has provided the following account
balances:
Cash $380,000
Short-term investments $40,000
Accounts receivable...
The Blue Company has provided the following account
balances:
Cash $380,000
Short-term investments $40,000
Accounts receivable $60,000
Inventory $480,000
Long-term notes receivable $20,000
Equipment $960,000
Factory Building $1,800,000
Intangible assets $60,000
Accounts payable $300,000
Accrued liabilities payable $40,000
Short-term notes payable $95,000
Income taxes payable $55,000
Long-term notes payable $920,000
Stockholders’ equity $2,400,000
What is Blue's current ratio?
Balance sheet
December 31
Assets 2007 2006
Cash $25,000 $40,000
Short term investments 15,000 60,000
Accounts...
Balance sheet
December 31
Assets 2007 2006
Cash $25,000 $40,000
Short term investments 15,000 60,000
Accounts receivable 50,000 30,000
Inventory 50,000 70,000
Property, plant and equipment (net) 160,000 200,000
Total assets $300,000 $400,000
Liabilities and stockholders equity
Accounts payable $20,000 $30,000
Short term notes payable 40,000 90,000
Bonds payable 80,000 160,000
Common stock 60,000 45,000
Retained earnings 100,000 75,000
Total liabilities and stockholders equity $300,000 $400,000
Income statement (for the year ended December 31, 2007)
Net sales $360,000
Cost...
The accounts of the Capitan Company are shown below:
Capitan Company
List of Accounts as on...
The accounts of the Capitan Company are shown below:
Capitan Company
List of Accounts as on
December 31
Accounts payable
$20,000
Accounts receivable
18,000
Accumulated depreciation
11,000
Equity shares
75,000
Cash
85,000
Building and equipment
81,000
Inventory
15,000
Long-Term investment
30,000
Land
27,000
Marketable securities
3,000
Mortgage payable
89,000
Patents
4,000
Prepaid rent
6,000
Retained earnings
?
Supplies
6,000
Taxes payable
11,000
Unearned revenue
19,000
Required:
Prepare a balance sheet at December 31 for the Capitan Company.
Assume that no...
Balance sheet
December 31
Assets 2007 2006
Cash $25,000 $40,000
Short term investments 15,000 60,000
Accounts...
Balance sheet
December 31
Assets 2007 2006
Cash $25,000 $40,000
Short term investments 15,000 60,000
Accounts receivable 50,000 30,000
Inventory 50,000 70,000
Property, plant and equipment (net) 160,000 200,000
Total assets $300,000 $400,000
Liabilities and stockholders equity
Accounts payable $20,000 $30,000
Short term notes payable 40,000 90,000
Bonds payable 80,000 160,000
Common stock 60,000 45,000
Retained earnings 100,000 75,000
Total liabilities and stockholders equity $300,000 $400,000
Income statement (for the year ended December 31, 2007)
Net sales $360,000
Cost...
The following shows the ending balances of accounts for A
Company as of December 31, 2018....
The following shows the ending balances of accounts for A
Company as of December 31, 2018.
Account
Debits
Credits
Taxes payable
30,000
Inventory
285,000
Investments
140,000
Retained earnings
202,000
Prepaid expenses
148,000
Accumulated depreciation - equipment
110,000
Deferred revenue
80,000
Cash
65,000
Common stock
400,000
Equipment
320,000
Accounts payable
60,000
Accounts receivable
160,000
Notes payable
200,000
Allowance for uncollectible accounts
16,000
Interest payable
20,000
Total
1,118,000
1,118,000
Additional information:
1. Prepaid expenses include $120,000 paid on December 31, 2018
for...
DR.
CR.
Accounts Payable
26,000
Accounts Receivable
57,000
Accumulated Depreciation – Equipment
40,000
Depreciation Expense
13,000...
DR.
CR.
Accounts Payable
26,000
Accounts Receivable
57,000
Accumulated Depreciation – Equipment
40,000
Depreciation Expense
13,000
Sales Revenue
250,000
Cash
25,000
Common Stock
50,000
Equipment
150,000
Investment in Debt Securities
45,000
Freight-out
5,000
Insurance Expense
2,500
Salaries and Wages expense
30,000
Rent Expense
20,000
Sales Discount
8,000
Retained Earnings
25500
Prepaid Insurance
7,500
Sales Return and Allowance
12,000
Gain on Disposal of Plant Asset
6,000
Dividends
7,000
Interest Expense
7,500
Salaries and Wages Payable
2,500
Income tax Expense
6,500
Advertising...
The following
table shows Toshiba's financial statements
Assets:
Amount
Cash and marketable securities
$400,000
Accounts...
The following
table shows Toshiba's financial statements
Assets:
Amount
Cash and marketable securities
$400,000
Accounts receivable
1,415,000
Inventories
1,847,500
Prepaid expenses
24,000
Total current assets
3,686,500
Fixed assets
2,800,000
Less: accum. depr.
(1,087,500)
Net fixed assets
1,712,500
Total assets
$5,399,000
Liabilities:
Accounts payable
$600,000
Notes payable
875,000
Accrued taxes
92,000
Total current liabilities
$1,567,000
Long-term debt
900,000
Common Stock (100,000 shares)
700,000
Retained Earnings
2,232,000
Total liabilities and owner's equity
$5,399,000
Net sales (all credit)
$6,375,000
Less: Cost of...