Give answer this accounting question A company reported total equity of $145,000 on its Dec 31, 2006, balance sheet. The followinginformation is available for the year ended Dec 31, 2007;2007 revenues2007 expenses$210,000$165,000Liabilities, at Dec 31, 2007 $92,000What are the total assets of the company at Dec 31, 2007?

Step 1: Define Accounting EquationThe accounting equation is expressed as assets = liabilities +…

Answered: A company reported total equity of…

FINANCIAL ACCOUNTING

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Author:Libby

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Chapter1: Financial Statements And Business Decisions

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Wichita, Incorporated reported the following amounts on its financial statements prepared as of the end of the current accounting period: Revenues Expenses Net Income Current Assets Long-term Assets. Total Assets Current Liabilities Long-term Liabilities Total Liabilities Common Stock Retained Earnings. Total Equity Total Liabilities and Equity What is the company's debt-to-assets ratio? $230,000 219,600 $ 65,000 195,000 $ 50,000 95,000 $ 55,000 60,000 $ 10,400 $260,000 145,000 115,000 $260,000 4
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SUBJECT: FINANCIAL ACCOUNTING
Assuming that total assets were $8,037,000 at the beginning of the current fiscal year, determine the following: When required, round to one decimal place. a. Ratio of fixed assets to long-term liabilities b. Ratio of liabilities to stockholders' equity c. Asset turnover d. Return on total assets e. Return on stockholders' equity f. Return on common stockholders' equity % % %
A corporation reports the following year-end balance sheet data. The company's debt ratio equals: Cash Accounts receivable Inventory Equipment Total assets $ 41,000 56,000 61,000 146,000 $ 304,000 Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and equity $ 76,000 31,000 101,000 96,000 $ 304,000
Wichita, Inc. reported the following amounts on its financial statements prepared as of the end of the current accounting period: Revenues Expenses Net income Current assets; Long-term assets Total assets Current liabilities Long-term liabilities Total liabilities. Common stock Retained earnings Total equity Total liabilities and equity What is the company's debt-to-assets ratio? $200,000 180,000 $50,000 150,000 $ 20,000 80,000 $ 40,000 60,000 $ 20,000 $200,000 100,000 100,000 $200,000
Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $51,900; total assets, $219,400; common stock, $81,000; and retained earnings, $34,953.) CABOT CORPORATION Balance Sheet December 31 of current year Assets Liabilities and Equity Cash $ 12,000 Accounts payable $ 16,500 Short-term investments 9,000 Accrued wages payable 3,800 Accounts receivable, net 33,200 Income taxes payable 4,700 Merchandise inventory 36,150 Long-term note payable, secured by mortgage on plant assets 71,400 Prepaid expenses 2,800 Common stock 81,000 Plant assets, net 151,300 Retained earnings 67,050 Total assets $ 244,450 Total liabilities and equity $ 244,450 CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 455,600 Cost of goods sold 298,050 Gross profit 157,550 Operating expenses 99,500 Interest expense…
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Selected current year-end financial statements of Genesis Corporation follow. All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $48,900; total assets, $189,400; common stock, $90,000; and retained earnings, $33,748. Compute the following: total asset turnover, return on total assets, and return on equity. Round to one decimal place.
The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous YearAccounts payable $111,000 $100,000Long-term debt 132,680 124,000Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis?
Finney Corporation has the following data as of December 31, 2018: Compute the debt to equity ratio at December 31,2018. Total Current Liabilities $36,210 Total Stockholders' Equity $ ? Total Current Assets 32,670 Other Assets 33,500 Long-term Liabilities 204,970 Property, Plant, and Equipment, Net 330,610

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A company reported total equity of $145,000 on its Dec 31, 2006, balance sheet. The following information is available for the year ended Dec 31, 2007; 2007 revenues 2007 expenses $210,000 $165,000 Liabilities, at Dec 31, 2007 $92,000 What are the total assets of the company at Dec 31, 2007?