12. During the year, Australian Company has an asset of 200,000 of which 110,000 is noncurrent assets. Australian Company have a current liability of 70,000 and paid it on due date. Total liability before the payment of current liability is 120,000. How much is the total equity? A. 100,000 B. 80,000 C. 60,000 D. 40,000 13. Total equity of Mrs. Shy is 300,000. She has a cash of 50,000 and prepaid expenses of 40,000. How much is the total noncurrent liability, if she has 20,000 current liability and noncurrent assets of 400,000? a) 160,000 b) 170,000 c) 180,000 d) 190,000 14. The following are accounts taken from trial balance of Jeremy Inc., January 31, 2019:
12. During the year, Australian Company has an asset of 200,000 of which 110,000 is noncurrent assets. Australian Company have a current liability of 70,000 and paid it on due date. Total liability before the payment of current liability is 120,000. How much is the total equity? A. 100,000 B. 80,000 C. 60,000 D. 40,000 13. Total equity of Mrs. Shy is 300,000. She has a cash of 50,000 and prepaid expenses of 40,000. How much is the total noncurrent liability, if she has 20,000 current liability and noncurrent assets of 400,000? a) 160,000 b) 170,000 c) 180,000 d) 190,000 14. The following are accounts taken from trial balance of Jeremy Inc., January 31, 2019:
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 3MC: Prince Corporations accounts provided the following information at December 31, 2019: What should be...
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