CalcTech has $1.3 million in current assets and $550,000 in fixed assets less $200,000 in accumulated depreciation. The firm's current liabilities total $180,000, and the long-term liabilities $205,000. What is the firm's equity? a. $1,300,000 b. $1,850,000 c. $1,265,000 d. $915,000

CalcTech has $1.3 million in current assets and $550,000 in fixed assets less $200,000 in accumulated depreciation. The firm's current liabilities total $180,000, and the long-term liabilities $205,000. What is the firm's equity? a. $1,300,000 b. $1,850,000 c. $1,265,000 d. $915,000

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...

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CalcTech has $1.3 million in current assets and $550,000 in fixed
assets less $200,000 in accumulated depreciation. The firm's current
liabilities total $180,000, and the long-term liabilities $205,000.
What is the firm's equity?
a. $1,300,000
b. $1,850,000
c. $1,265,000
d. $915,000

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