How much were the liabilities? At the end of a recent year, Lima Cleaning Services(LCS) had total assets of KD 5,200 and equity ofKD 3,300.How much were LCS's liabilities?A) KD 7,500B) KD 5,200C) KD 1,900D) KD 3,300E) KD 4,500

Explanation of Assets: Assets represent economic resources owned or controlled by a company that are…

Answered: At the end of a recent year, Lima…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 11MCQ: Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital...

See similar textbooks

Similar questions

Answer ?
Assume Metro Corporation had a net income of $2,200 for the year ending December 31. Its beginning and ending total assets were $35,500 and $19,000, respectively. Calculate Metro's return on assets (ROA). (Round your percentage answer to two decimal places.) A. 11.58% B. 4.04% C. 8.07% D. 6.20%
The following data were taken from the financial statements of Gates Inc. for the current fiscal year. $1,202,600 Property, plant, and equipment (net) Liabilities: $173,000 Current liabilities 859,000 Note payable, 6%, due in 15 years $1,032,000 Total liabilities Stockholders' equity: Preferred $4 stock, $100 par (no change during year) $619,200 Common stock, $10 par (no change during year) 619,200 Retained earnings: $660,000 Balance, beginning of year Net income $974,000 314,000 Preferred dividends $24,768 148,400 Common dividends 123,632 Balance, end of year 825,600 Total stockholders' equity $2,064,000 $19,922,100 Sales Interest expense $51,540 Assuming that total assets were $2,941,000 at the beginning of the current fiscal year, determine the following. When required, round to one decimal place.
Branch Corp.'s total assets at the end of last year were $310,000 and its net income after taxes was $22,750. What was its return on total assets? Select the correct answer. a. 8.34% b. 7.34% c. 6.84% d. 7.84% e. 6.34%
Sunland Company reports the following information (in millions) during a recent year: net sales, $11.257.9; net earnings, $327.9. total assets. ending. $5,560.0; and total assets, beginning, $5,370.0. (a) Calculate the (1) return on assets, (2) asset turnover, and (3) profit margin. (Round answers to 1 decimal place, e.g. 6.2% and 6.2.) 2 3. Return on assets Asset turnover Profit margin times
Kendrick Industries provided the following financial data: Net Income = $30,120 Assets at the Beginning of the Year = $220,000 Assets at the End of the Year = $270,000 Find the return on assets (ROA) in percentage.
Micro, Inc., started the year with net fixed assets of $76,175. At the end of the year, there was $97,925 in the same account, and the company's income statement showed depreciation expense of $13,395 for the year. What was the company's net capital spending for the year? a. $83,990 b. $35,685 c. $21,750 d. $43,580 e. $41,170
Kendrick Industries provided the following financial data: ⚫ Net Income = $30,120 Assets at the Beginning of the Year = $220,000 Assets at the End of the Year = $270,000 Find the return on assets (ROA) in percentage.
Sectors, Inc., has an EBIT of $7,221,643 and interest expense of $611,800. Its depreciation for the year is $1,434,500. What is its cash coverage ratio?
Langford Corporation provided the following financial data: • Net Income = $27,600 Assets at the Beginning of the Year = $198,000 = Assets at the End of the Year = $242,000 Find the return on assets (ROA) in percentage.
Sheridan Company reports the following information (in millions) during a recent year: net sales, $10,705.0; net earnings, $340.0; total assets, ending, $5,150.0; and total assets, beginning, $5,120.0. (a) Calculate the (1) return on assets, (2) asset turnover, and (3) profit margin. (Round answers to 1 decimal place, e.g. 6.2% and 6.2.) 1. Return on assets %2. Asset turnover times3. Profit margin %
The year-end financial statements of Calloway Company contained the following elements and corresponding amounts: Assets = $36,000; Liabilities = ?; Common Stock = $6,600; Revenue = $14,200; Dividends = $1,550; Beginning Retained Earnings = $4,550; Ending Retained Earnings = $8,600.The amount of liabilities reported on the end-of-period balance sheet was: a. $29,400 b. $27,400 c. $24,850. d. $20,800.

SEE MORE QUESTIONS

Recommended textbooks for you

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

Intermediate Financial Management (MindTap Course…

Finance

ISBN:

9781337395083

Author:

Eugene F. Brigham, Phillip R. Daves

Publisher:

Cengage Learning

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

Intermediate Financial Management (MindTap Course…

Finance

ISBN:

9781337395083

Author:

Eugene F. Brigham, Phillip R. Daves

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

At the end of a recent year, Lima Cleaning Services (LCS) had total assets of KD 5,200 and equity of KD 3,300. How much were LCS's liabilities? A) KD 7,500 B) KD 5,200 C) KD 1,900 D) KD 3,300 E) KD 4,500