AВEF12Current YearPrior YearCash$7,440$8,0004Accounts receivable54,00018,000Equipment, net44,00040,00091,680$197,1206.Land66,000$132,0007Total assets8.Required:10 Express the items in common-size percents.9.1112 (Use cells A2 to C7 from the given information to complete this question.)1314Current YearPrior Year15Cash16 Accounts receivable17 Equipment, net18Land19Total assets20212223Students: The scratchpad area is for you to do any additional work you need to solve this q24 Nothing in this area will be graded, but it will be submitted with your assignment.

Answered: A В Current Year Prior Year Cash $7,440…

A В Current Year Prior Year Cash $7,440 $8,000 Accounts receivable 54,000 18,000 Equipment, net 44,000 40,000 Land 91,680 $197,120 66,000 $132,000 Total assets

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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Question

A
В
E
F
1
2
Current Year
Prior Year
Cash
$7,440
$8,000
4
Accounts receivable
54,000
18,000
Equipment, net
44,000
40,000
91,680
$197,120
6.
Land
66,000
$132,000
7
Total assets
8.
Required:
10 Express the items in common-size percents.
9.
11
12 (Use cells A2 to C7 from the given information to complete this question.)
13
14
Current Year
Prior Year
15
Cash
16 Accounts receivable
17 Equipment, net
18
Land
19
Total assets
20
21
22
23
Students: The scratchpad area is for you to do any additional work you need to solve this q
24 Nothing in this area will be graded, but it will be submitted with your assignment.

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