Question
BALANCE SHEET The assets of Dallas & Associates consist entirely of current assets and net plant...
BALANCE SHEET
The assets of Dallas & Associates consist entirely of current assets and net plant and equipment. The firm has total assets of $2.6 million and net plant and equipment equals $2.2 million. It has notes payable of $155,000, long-term debt of $749,000, and total common equity of $1.55 million. The firm does have accounts payable and accruals on its balance sheet. The firm only finances with debt and common equity, so it has no preferred stock on its balance sheet.
Write out your answers completely. For example, 25 million should be entered as 25,000,000. Enter negative amounts, if any, with a minus sign.
- What is the amount of accounts payable and accruals on its
balance sheet? [Hint: Consider this as a single line item on the
firm's balance sheet.]
$ - What is the firm's net working capital?
$ - What is the firm's net operating working capital?
$ - What is the monetary difference between your answers to part f
and g?
$
What does this difference indicate?
(A) The difference indicates Notes payable balance (B) The difference indicates Accounts payable balance (C) The difference indicates Current liabilities balance
Homework Answers
Answer #1
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