ANSWER IS LETTER D. PROVIDE THE SOLUTION PLEASE Kara Company provided the followinginformation:1/1/201312/31/2013Current Assets240,000Property, plant and equipment1,600,000?1,700,000Current liabilities?130,000Noncurrent liabilities580,000?All assets and liabilities of the entity are reported atyear-end. Working capital of 92,000 remainedunchanged from 2012 to 2013. Net income in 2013was 64,000. No dividends were declared during 2013and there were no other changes in owners' equity.What amount should be reported as noncurrentliabilities on December 31, 2013?а. 340,000b. 432,000580,000d. 616,000C.

Liabilities are accumulated financial obligations that result from past events that are expected to…

Answered: ANSWER IS LETTER D. PROVI

Business

Accounting

ANSWER IS LETTER D. PROVI

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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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.

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