A company has $1,357 in inventory, $4,800 in net fixed assets, $646 in accounts receivable, $286 in cash, $602 in accounts payable, and $5,395 in equity. What is company’s long-term, debt? $1,694 $1,271 $1,650 $1,129 $1,092

A company has $1,357 in inventory, $4,800 in net fixed assets, $646 in accounts receivable, $286 in cash, $602 in accounts payable, and $5,395 in equity. What is company’s long-term, debt? $1,694 $1,271 $1,650 $1,129 $1,092

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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q. 12

A company has $1,357 in inventory, $4,800 in net fixed assets, $646 in accounts receivable, $286 in cash, $602 in accounts payable, and $5,395 in equity. What is company’s long-term, debt?

$1,694
$1,271
$1,650
$1,129
$1,092

Definition Definition Money that the business will be receiving from its clients who have utilized the credit provided to buy its goods and services. The credit period typically lasts for a short term, lasting from a few days, a few months, to a year.

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