ANSWER IS LETTER D. PROVI
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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ANSWER IS LETTER D. PROVIDE THE SOLUTION PLEASE
![Kara Company provided the following
information:
1/1/2013
12/31/2013
Current Assets
240,000
Property, plant and equipment
1,600,000
?
1,700,000
Current liabilities
?
130,000
Noncurrent liabilities
580,000
?
All assets and liabilities of the entity are reported at
year-end. Working capital of 92,000 remained
unchanged from 2012 to 2013. Net income in 2013
was 64,000. No dividends were declared during 2013
and there were no other changes in owners' equity.
What amount should be reported as noncurrent
liabilities on December 31, 2013?
а. 340,000
b. 432,000
580,000
d. 616,000
C.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F64486bcc-da28-4467-b895-eb49993e25cd%2F92791632-6126-410b-9a99-0ab91e47ab60%2Fg7d112l_processed.png&w=3840&q=75)
Transcribed Image Text:Kara Company provided the following
information:
1/1/2013
12/31/2013
Current Assets
240,000
Property, plant and equipment
1,600,000
?
1,700,000
Current liabilities
?
130,000
Noncurrent liabilities
580,000
?
All assets and liabilities of the entity are reported at
year-end. Working capital of 92,000 remained
unchanged from 2012 to 2013. Net income in 2013
was 64,000. No dividends were declared during 2013
and there were no other changes in owners' equity.
What amount should be reported as noncurrent
liabilities on December 31, 2013?
а. 340,000
b. 432,000
580,000
d. 616,000
C.
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