2. If the total assets of a business are $37 486.49 and the total liabilities are $ 11 547.80.calculate the owner's net worth.
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- In January 2020, Ali Company’s assets valued at MYR 350,000, and its owner’s equity was MYR 150,000. During the year, assets increased MYR 45,000 and liabilities decreased MYR 22,000. What is the owner’s equity at the end of year 2020? Select one:A. MYR 217,000B. MYR 127,000C. MYR 150,000D. MYR 175,000Following are the current asset and current liability sections of the balance sheets for Freedom Inc. at January 31, 2020 and 2019 (in millions): Current Assets Cash Accounts receivable Inventories Total current assets Current Liabilities Note payable Accounts payable Other accrued liabilities Total current liabilities January 31, 2020 Working capital Current ratio 6 EL EL $ 21 $ 15 January 31, 2019 01/31/2020 01/31/2019 9 18 $ 25 Required: a. Calculate the working capital and current ratio at each balance sheet date. (Enter "Working capital" in millions of dollars (1.e.. 10,000,000 should be entered as 10). Round your "Current ratio" to 2 decimal places.) $12 b. Evaluate the firm's liquidity at each balance sheet date. Based on the working capital and current ratio measures, the firm has become more liquid over the 2-year period. O Based on the working capital and current ratio measures, the firm has become less liquid over the 2-year period. c. Assume that the firm operated at a loss…Cardi B reported the following data for her company in 2019: Net Operating Income $61,000 Beginning Operating Assets ??? Ending Operating Assets $540,000 Return on Investment 0.11 Based on the information above, what was the beginning balance of Operating Assets for 2019? Round your answer to the nearest dollar.
- The following data were taken from Alvarado Company's balance sheet: Dec. 31, 2019 Dec. 31, 2018 Total liabilities $2,880,000 $4,085,000 Total owner's equity 4,300,000 3,600,000 a. Compute the ratio of liabilities to owner's equity b. Has the creditor's risk increased or decreased from December 31, 2018, to December 31, 2019?Martinez Company had the following information available at the end of 2020. MARTINEZCOMPANYCOMPARATIVE BALANCE SHEETSAS OF DECEMBER 31, 2020 AND 2019 2020 2019 Cash $10,030 $4,030 Accounts receivable 20,580 12,850 Short-term investments 22,130 29,700 Inventory 41,810 34,700 Prepaid rent 3,020 12,090 Prepaid insurance 2,110 91 Supplies 1,000 74 Land 125,160 176,690 Buildings 349,890 349,890 Accumulated depreciation—buildings (104,810 ) (87,100 ) Equipment 524,900 397,700 Accumulated depreciation—equipment (129,880 ) (112,640 ) Patents 45,200 49,700 Total assets $911,140 $867,775 Accounts payable $21,860 $31,980 Income taxes payable 4,960 4,010 Salaries and wages payable 4,990 3,000 Short-term notes payable…Sandhill Company had the following information available at the end of 2020. SANDHILLCOMPANYCOMPARATIVE BALANCE SHEETSAS OF DECEMBER 31, 2020 AND 2019 2020 2019 Cash $10,100 $4,020 Accounts receivable 20,580 12,830 Short-term investments 22,020 29,750 Inventory 42,390 34,710 Prepaid rent 3,020 12,030 Prepaid insurance 2,100 89 Supplies 1,000 74 Land 125,640 176,140 Buildings 347,130 347,130 Accumulated depreciation—buildings (104,250 ) (87,940 ) Equipment 530,080 398,810 Accumulated depreciation—equipment (130,600 ) (111,650 ) Patents 44,570 49,920 Total assets $913,780 $865,913 Accounts payable $22,110 $32,240 Income taxes payable 5,010 4,010 Salaries and wages payable 5,000 2,990 Short-term notes payable…
- The summarise balance sheet of Davia Ltd on 30 June 2019 was as follows: Current assets 300,000 Non current assets 1200,000 Current liabilities 300,000 Owner's Equity 300,000 What is the total of non-current liabilities? Select one: a. $300,000 b. $600,000 c. $0 d. $900,000John James has assets of $ 150 000 and liabilities of $ 65 000. What is her equity? If the total assets of a business are $37 486.49 and the total liabilities are $11 547.80.calculate the owner's net worth. On June 31, 2020, Anthony Brown's accounting equation was as follows: Assets ($ 150 000) - Liabilities ($70 000) = Equity ($ 80 000), If during 20-21 the assets increase by $70 000 and the liabilities decrease by $ 20 000, Calculate the owner's equity.at June 31, 20-22. Ken Lewin, a factory worker in Toronto, Ontario asks you to help him find out how much he is worth From a discussion with him you found out the following facts:. His bank balance is $3 650. He owns a home valued at $492 000, which has a mortgage on it of $ 162 360. • He owns furniture and household equipment valued at $ 55 000. He owns a summer property valued at $ 225 000, which he bought entirely with money borrowed from the bank. Since the time of purchase he has repaid $ 80 000 of the loan. • He has unpaid bills…On August 1, 2020, the business accounts of Peter and Senen appear below:Assets Peter SenenCash P11,000 P22,354Accounts receivable 84,536 217,890Inventories 100,035 240,102Land 603,000 428,267Buildings 200,345 384,789Other Assets 22,000 23,600Total P1,020,916 P1,317,002Liabilities and CapitalAccounts payable P178,940 P243,650Notes payable 200,000 345,000Peter, Capital 641,976Senen, Capital 728,352Total P1,020,916 P1,317,002Peter and Senen agreed to form a partnership contributing their respective assets and liabilitiessubject to the following adjustments:Accounts receivable of P20,000 and P35,000 are uncollectible in Peter and Senen’s respectivebooks.Inventories of P5,500 and P6,700 are worthless in Peter and Senen’s respective booksOther Assets of P2,200 and P3,600 in Peter and Senen’s books are written off.After five days Ethel was offered to join Peter and Senen and will contribute for a 20% interestin the firm. They also agreed to divide profits and losses in the ratio of 4:4:2…
- he following data were taken from Alvarado Company’s balance sheet: OBJ. 6 Dec. 31, 2019 Total liabilities $4,085,000 Total owner’s equity 4,300,000 Compute the ratio of liabilities to owner’s equity. Dec. 31, 2018 $2,880,000 3,600,000 a. b. Has the creditor’s risk increased or decreased from December 31, 2018, to December 31, 2019?The following information is taken from Randy Technology's statements of financial position at December 31, 2019 and 2020, and their income statement for calendar 2020: 2020 2019 Assets: Cash ... $ 38,000 $ 42,000 Short Term investments 25,000 -0- Accounts receivable.. 118,000 22,000 Inventory.. 151,000 42,000 Prepaid insurance 16,000 19,000 Long-term investments 49,000 20,000 Equipment (net).. 130,000 130,000 Land.. 33,000 33,000 Goodwill 45,000 45,000 Total assets.. $ 605,000 S 353,000The following are extracts from an income statement of Al Noor Company for the year ended 31 December 2020: Sales revenue RO 10,000; Cost of sales RO 8,500; Salaries expense RO 300; Advertising expense RO 200; Depreciation expense RO 100; Insurance expense RO 150; Unrealized gain on investment securities RO 1,000. The comprehensive income is: a. RO (250) b. RO 750 c. RO 1,000 d. RO 1,750