Determine the missing amount: Assets = Liabilities + Owner's Equity. $895000 = + $354000
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- B4.1. What anount should be reported as total assets after restatement for hyperinflation? a. 5,150,000 b. 3,950,000 c. 4,800,000 d. 4,850,000 2. What amount should be reported as total liabilities after restatement for hyperinflation? a. 2,400,000 b. 1,200,000 c. 1,325,000 d. 1,500,000 3. What amount should be reported as retained earnings after adjusting for hyperinflation? a. 2,350,000 b. 2,750,000 c. 3,550,000 d. 2,625,000Consider the following financial data from the past year for Midwest Outdoor Equipment Corporation. $24,324,000 2,975,000 12,600,000 10,550,000 2,875,000 3,445,000 Annual sales Net income Cost of goods sold Total assets Inventory Receivables a. Compute the profit margin. Note: Round your answer to 3 decimal places. Profit margin
- 4. **In which section of the balance sheet would you find "goodwill"?** A) Current Assets B) Non-current Assets C) Current Liabilities D) Long-term LiabilitiesWhen is accumulated depreciation reduced to zero? Explain and provide examples for each element (Asset & Liability)Cost of property asset minus accumulated depreciation is equal to net book value. T/F
- Assets Cash Receivables (net) Inventory PP & E (net) Patents&Licenses Goodwill Total assets Liabilities & Equity Accounts payable Short term debt Long term debt Preferred stock Common Equity Total Liabilities + Equity New Chip Corp Balance Sheet at 12/31/22 ($ in Millions) 31 45 64 215 28 19 402 53 19 179 23 128 402Which of the following provides information about how many months of living expenses you can cover with your present level of liquid assets? OA Liquidity Ratio O B. Current Ratio OC. Savings Ratio OD. Debt-to Asset RatioT-Account (Liability) CRNEED UNKOWN CR amountPlease provide in detail the equation for finding out this UNKNOWN CR amount on a CR Liablity Account. Also could you tell me how I would find an unkown DR amount on the same type of Liabilty CR Account. ThanksBeginning Balance $3,000CR-$3,400CR-UNKOWNDR- $1,500DR-$2,000Ending Balance=$6,700