Use the accounting equation to answer each of the following questions.(a) The liabilities of Culver Company are $86,000. Common stock account is $156,000; dividends are $37,000; revenues, $448,000;and expenses, $316,000. What is the amount of Culver Company's total assets?Total assets $(b) The total assets of Sheridan Company are $56,000. Common stock account is $19,500; dividends are $8,500; revenues, $51,000;and expenses, $38.500. What is the amount of the company's total liabilities?Total liabilities. $(c) The total assets of Dierdorf Co. are $630,000 and its liabilities are equal to two-thirds of its total assets. What is the amount ofDierdorf Co's stockholders' equity?Stockholders equity

The connection between a company's assets, liabilities, and equity is represented by the accounting…

Answered: (a) The liabilities of Culver Company…

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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Hoya Corporation reports the following amounts: Assets = $16,400; Liabilities = $1,400; Stockholders’ equity = $15,000; Dividends = $1,400; Revenues = $13,800; and Expenses = $10,400. What amount is reported for net income?
The following information is available for the Oil Creek Corporation. Accounts Receivable $19,000 Sales $195,000 Current assets $36122 Total assets $147,000 Long term debt $48,000 Current liabilities $42311 Equity $50469 net income $11972 Number of shares outstanding 13035 Current stock price per share $14.81 What is the price to book value ratio?
Assume you are given the following abbreviated financial statements: Data table (Click on the icon here in order to copy its contents of the data table below into a spreadsheet.) ($ in millions) Current assets $115 Fixed and other assets $186 Total assets $301 Current liabilities $88 Long-term debt $38 Stockholders' equity $175 Total liabilities and equity $301 Common shares outstanding 11 million shares Total revenues $469 Total operating costs and expenses $402 Interest expense $9 Income taxes $23 Net profits $35 Dividends paid to common stockholders $11 . On the basis of this information, calculate as many liquidity, activity, leverage, profitability, and common stock measures as you…
Ernst Company's balance sheet shows total liabilities of $21,738,200, total stockholders' equity of $7,618,000, and total assets of $31,467,200. Calculate the debt ratio.
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The total assets of Lafayette Company are $66,030. Common stock account is $22,480, dividends are $8,980, revenues are $43,960, and expenses are $39,080. What is the amount of the company's total liabilities?
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
You are evaluating the balance sheet for SophieLex’s Corporation. From the balance sheet you find the following balances: cash and marketable securities = $280,000; accounts receivable = $1,380,000; inventory = $2,280,000; accrued wages and taxes = $590,000; accounts payable = $890,000; and notes payable = $780,000. Calculate SophieLex’s current ratio. (Round your answer to 2 decimal places.) Calculate SophieLex’s quick ratio. (Round your answer to 2 decimal places.) Calculate SophieLex’s cash ratio. (Round your answer to 2 decimal places.)
The balance sheet for Fanning Corporation follows: $ 246,000 764,000 Current assets Long-term assets (net) Total assets $1,010,000 $ 149,000 452,000 601,000 409,000 Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity $1,010,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio Debt-to-assets ratio % Debt-to-equity ratio < Prev 5 of 6 MacE
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You are evaluating the balance sheet for SophieLex's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $450,000; accounts receivable = $1,100,000; inventory = $2,000,000; accrued wages and taxes = $450,000; accounts payable = $750,000; and notes payable = $500,000. Calculate SophieLex's current ratio.
You are examining a company's balance sheet and find that it has total assets of $30,791, a cash balance of $2,289, inventory of $5,009, current liabilities of $6,021 and accounts receivable of $2,805. What is the company's net working capital?

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