Accounts receivable$15,000 Property, plant, and equipment$200,000Cash17,000 Inventory65,000Other current assets25,000 Other long-term assets40,000Accounts payable21,000 Common stock95,000Long-term liabilities55,000 Retained earningsOther current liabilities18,000Prepare a classified balance sheet for Werthman Company.Werthman CompanyBalance SheetDecember 31AssetsLiabilities & Stockholders' EquityCurrent Assets:Current Liabilities:Cash2$15,000 Accounts payable2$21,000Accounts receivable17,000 Other current liabilities18,000Inventory65,000 Total Current Liabilities39,000Other current assets25,000 Noncurrent Liabilities:Total Current Assets122,000 Long-term liabilities55,000Total LiabilitiesNoncurrent Assets:Stockholders' EquityProperty plant and equipment200,000 Common stockOther long-term assets40,000Total Noncurrent Assets240,000 Total Stockholders' EquityTotal Assets$0 Total Liabilities & Stockholders' Equity $

Balance sheet is prepared to show the financial position of the organisation during the accounting…

Accounts receivable $15,000 Property, plant, and equipment $200,000 Cash 17,000 Inventory 65,000 Other current assets 25,000 Other long-term assets 40,000 Accounts payable 21,000 Common stock 95,000 Long-term liabilities 55,000 Retained earnings ? Other current liabilities 18,000 Prepare a classified balance sheet for Werthman Company.

Accounts receivable $15,000 Property, plant, and equipment $200,000 Cash 17,000 Inventory 65,000 Other current assets 25,000 Other long-term assets 40,000 Accounts payable 21,000 Common stock 95,000 Long-term liabilities 55,000 Retained earnings ? Other current liabilities 18,000 Prepare a classified balance sheet for Werthman 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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Privett Company Accounts payable $30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 20,000 Property, plant, and equipment 400,000 Prepaid expenses 2,000 Based on the data for Privett Company, what is the quick ratio, rounded to one decimal point? Oa. 1.0 Ob. 1.1 Ос. 17 Od. 2.9 MacBook Air
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