Cash 6,104 Accounts Receivable 2,648 Prepaid Expenses 783 Equipment 15,920 Accumulated Depreciation 5,372 Accounts Payable 1,497 Notes Payable 5,998 Common Stock 1,000 Retained Earnings 10,411 Dividends 705 Fees Earned 6,237 Wages Expense 2,913 Rent Expense 737 Utilities Expense 378 Depreciation Expense 218 Miscellaneous Expense 109 Totals 30,515 30,515 Determine the total liabilities for the period. $20,083 O $7,495 $12,867

Cash 6,104 Accounts Receivable 2,648 Prepaid Expenses 783 Equipment 15,920 Accumulated Depreciation 5,372 Accounts Payable 1,497 Notes Payable 5,998 Common Stock 1,000 Retained Earnings 10,411 Dividends 705 Fees Earned 6,237 Wages Expense 2,913 Rent Expense 737 Utilities Expense 378 Depreciation Expense 218 Miscellaneous Expense 109 Totals 30,515 30,515 Determine the total liabilities for the period. $20,083 O $7,495 $12,867

Name: Cash6,104Accounts Receivable2,648Prepaid Expenses783Equipment15,920Ac
Uploaded: 2024-03-05T11:47:04.000Z
Channel: Bartleby
Description: Cash6,104Accounts Receivable2,648Prepaid Expenses783Equipment15,920Accumulated Depreciation5,372Accounts Payable1,497Notes Payable5,998Common Stock1,000Retained Earnings10,411Dividends705Fees Earned6,237Wages Expense2,913Rent Expense737Utilities Exp

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Accounts payable 919 Accounts receivable 631 Accumulated depreciation 1,813 Cash 729 Common stock 1,387 Cost of goods sold 7,578 Current portion of long-term debt 24 Depreciation expense 108 Dividends 13 Goodwill and other long-term assets 2,627 Income tax expense 24 Income taxes payable 12 Interest expense 54 Interest revenue 11 Inventories 930 Long-term liabilities 1,585 Prepaid expenses and other current assets 65 Property and equipment 2,389 Retained earnings 825 Sales 9,710 Selling, general, and administrative expenses 2,276 Unearned revenue 990 Wages payable 148 Prepare the balance sheet.
ased on these items, what is the total of the (a) liquid assets and (b) current liabilities? Checking account balance $ 935 Savings account balance $ 3,425 Retirement account balance 58,500 Current student loan payment due 370 Credit card balance 192 Investment account balance 9,500 Rare jewelry 600 Mortgage 185,500
Ergonomics Supply Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 27,000 shares of preferred 2% stock, $100 par, and 600,000 shares of $10 par common stock. The following selected transactions were completed during the first year of operations: July 1. Issued 213,000 shares of common stock at par for cash. 1. Issued 400 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. Aug. Issued 69,400 shares of common stock in exchange for land, buildings, and equipment with fair market 7. prices of $149,100, S505,120 and $164,700 respectively. Sept. 20. Issued 17,600 shares of preferred stock at $105 for cash. Required: Journalize the transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a…
Assets Cash $ 15,050 Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable 8,260 13,400 11,100 165,500 (12,000) $201,310 $ 8,180 3,880 4,350 Common stock Retained earnings 21,480 113,900 49,520 $ 201,310 Total liabilities and stockholders' equity The average number of common stock shares outstanding during Year 3 was 880 shares. Net income for the year was $14,400. Required Compute each of the following: Note: Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45. a. Current ratio per share b. Earnings per share c. Quick (acid-test) ratio d. Return on investment + % % e. Return on equity f. Debt to equity ratio
Use the following information to answer the questions: Assets Liabilities and Equity Cash 13,000 Accounts payable 18,000 Marketable securities 2,000 Notes payable 6,000 Accounts receivable 3,000 Current liabilities 24,000 Inventory 27,000 Long-term debt 95,000 Current assets 45,000 Total liabilities 119,000 Machines 34,000 Paid-in capital 20,000 Real estate 80,000 Retained earnings 20,000 Fixed assets 114,000 Equity 40,000 Total assets 159,000 Total liab. & equity 159,000 What is the quick ratio (aka the acid test)?
What is net income ?
CHART OF ACCOUNTS General Ledger ASSETS 110 Cash 111 Petty Cash 112 Accounts Receivable 114 Interest Receivable 115 Notes Receivable 116 Merchandise Inventory 117 Supplies 119 Prepaid Insurance 120 Land 123 Delivery Truck 124 Accumulated Depreciation-Delivery Truck 125 Equipment 126 Accumulated Depreciation-Equipment 130 Mineral Rights 131 Accumulated Depletion 132 Goodwill 133 Patents LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends REVENUE 410 Sales 610 Interest Revenue 620 Gain on Sale of Delivery Truck 621 Gain on Sale of Equipment EXPENSES 510 Cost of Merchandise Sold 520 Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Delivery Truck 523 Delivery Expense 524 Repairs and Maintenance Expense 529 Selling…
J. P. Robard Mfg., Inc. Balance Sheet ($000) Cash $470 Accounts receivable 2,100 Inventories 940 Current assets $3,510 Net fixed assets 4,590 Total assets $8,100 Accounts payable $1,120 Accrued expenses 580 Short-term notes payable 280 Current liabilities $1,980 Long-term debt 2,040 Owners' equity 4,080 Total liabilities and owners' equity $8,100 (Click on the icon in order to copy its contents into a spreadsheet.) J. P. Robard Mfg., Inc. Income Statement ($000) Net sales (all credit) $8,010 Cost of goods sold (3,300) Gross profit $4,710 Operating expenses (includes $500 depreciation) (3,090) Net operating income $1,620 Interest expense (360) Earnings before taxes $1,260 Income taxes (35%) (441) Net income $819
Based on the following information,. Purchase of investments $ 434 Dividends paid 278 Interest paid 69 Additional borrowing from bank 565 The cash flows from financing activities under GAAP would $______