a. Total assets of Charter Company equal $900,000 and its equity is $520,000. What is the amount of its liabilities?b. Total assets of Martin Marine equal $700,000 and its liabilities and equity amounts are equal to each other. What is the amount ofits liabilities? What is the amount of its equity?AssetsLiabilitiesa.$900,000 =b.$700,000 =+$Equity520,000

The objective of the question is to calculate the liabilities of Charter Company and both the…

Answered: a. Total assets of Charter Company…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

10. At the beginning of the year, an Entity had total assets of P700,000 and total liabilities of P500,000. If the total assets increased to P850,000 during the year and the total liabilities decreased to P400,000, what is the amount of owner's equity at the end of the year? O A. P1,250,000 O B. P810,000 C. P450,000 O D. P200,000 O O O O
If current assets are $112,000 and current liabilities are $56,000, what is the current ratio? A. 200 percent B. 50 percent C. 2.0 D. $50,000
Not Applicabl 16. UWner s Capital Activity #6: Accounting Equations 15,500,000. What is the amount of liabilities? respectively. What is the amount of the assets? c) The liabilities of Mindanao Farms equal one-third of the assets, and the oWners equity is 16,000,000. What is the amount of the liabilities? d) At the beginning of the year. LVM Consulting assets were 27,500,000, and its owner's equity was 15,000,000. During the year, assets increased 7,500,000 and liabilities decrease 2,250,000. What is the owner's equity at the end? 19 | Page Instructions: Use the accounting equations to answer the following: b) The liabilities and owner's equity of Visayas Tours are 7,200,000 and 7,950,00, a) The assets of Luzon Petroleum are 40,000,000, and the owner's equity is
If current assets are 112,000 and current liabilities are 56,000.00 what is the current ratio?
1. What is the current Ratio assuming company A has the following data in its balance sheet? Current Asset of $3500,000 Current Liability of $3200,000 a) 1.09:1 b) 1.35:1 c) 0.9:1 d) 1:1.09 2. What is the current Ration assuming Company B has the following data in its balance sheet? Current Asset of $3,200,000 Currebt Liability of $3,500,000 a) 1:1.27 b) 1.09:1 c) 1:0.79 d) 0.91:1
1. Badlands has current assets of $4800, net fixed assets of $27,500, current liabilities of $4200 and long term debt of $10,500. What is total equity?
Ef 292.
The balance sheet for the Capella Corporation is as follows: Assets Liabilities and Shareholders' Equity Current assets $ 300 Current liabilities $ 110 Net fixed assets 1, 200 Long-term debt 500 Shareholders' equity 890 Total assets $ 1,500 Total liabilities and shareholders' equity $ 1, 500 What is the Net Working Capital for Capella Corporation?
If Charter Company has assets totaling $ 800,000 and equity of 400,000, how much is its liabilities? Answer:
he following information pertains to Austin, Incorporated and Huston Company: Account Title Austin Huston Current assets $ 85,000 $ 85,000 Total assets 590,000 660,000 Current liabilities 23,375 42,500 Total liabilities 310,000 514,500 Stockholders’ equity 280,000 145,500 Interest expense 17,600 21,100 Income tax expense 35,200 30,600 Net income 88,000 91,400 Required a-1. Compute each company’s debt-to-assets ratio, current ratio, and times interest earned (EBIT must be computed). Note: Round your "Debt-

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS