The following are the typical classifications used in a balance
sheet: a. Current assets f. Current...
The following are the typical classifications used in a balance
sheet: a. Current assets f. Current liabilities b. Investments g.
Long-term liabilities c. Property, plant, and equipment h. Paid-in
capital d. Intangible assets i. Retained earnings e. Other assets
Required: For each of the following 2021 balance sheet items, use
the letters above to indicate the appropriate classification
category. (If the item is a contra account, select the appropriate
letter with a minus sign.)
1.
Interest payable (due in 3...
Indicate the proper balance sheet classification of each of the
15 numbered accounts in the 12/31/20...
Indicate the proper balance sheet classification of each of the
15 numbered accounts in the 12/31/20 trial balance before
adjustments. If the account title would appear on the income
statement then please select "Not applicable".
1.
Accounts Payable
Long-term liabilitiesCurrent
liabilitiesNot applicableProperty, plant, and
equipmentStockholders' equityCurrent assets
2.
Accounts Receivable
...
Managerial Accounting Question:
Using the account balances and heading listed below, complete
the Financial Statements (with...
Managerial Accounting Question:
Using the account balances and heading listed below, complete
the Financial Statements (with proper headings) for the fiscal year
ended December 31, 2017 for Mitchell Company
Account Name Amount Account Name Amount
Accounts Payable $40,000 Machinery (net) 12,000
Accounts Receivable (net) 25,000 Marketable Securities 5,000
Accrued Liabilities 5,000 Mortgage Payable 45,000
Administration Expense 17,000 Net Sales 100,000
Bonds Payable 20,000 Notes Payable - Long Term 13,000
Buildings (net) 32,000 Notes Receivable 2,000
Cash 70,000 Other Expense (interest)...
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?
Harding Company
Accounts payable
$40,000
Accounts receivable
65,000
Accrued liabilities
7,000
Cash
30,000
Intangible assets
40,000...
Harding Company
Accounts payable
$40,000
Accounts receivable
65,000
Accrued liabilities
7,000
Cash
30,000
Intangible assets
40,000
Inventory
72,000
Long-term investments
110,000
Long-term liabilities
75,000
Marketable securities
36,000
Notes payable (short-term)
30,000
Property, plant, and equipment
625,000
Prepaid expenses
2,000
What is the amount of working capital?
a.$238,000
b.$128,000
c.$203,000
d.$168,000
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