Everglade Corp. provides the following data: Account Amount Accounts Receivable $3,100 Equipment $12,000 Accounts Payable $4,700 Prepaid Rent $2,000 Supplies $850 Bank Loan $3,500 Tools $900 What is the total equity of Everglade Corp.?

Everglade Corp. provides the following data: Account Amount Accounts Receivable $3,100 Equipment $12,000 Accounts Payable $4,700 Prepaid Rent $2,000 Supplies $850 Bank Loan $3,500 Tools $900 What is the total equity of Everglade Corp.?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 13GI

See similar textbooks

Related questions

Q: accounting?

A: Step 1: Definition of Fixed Asset Sales CalculationTo determine how much in fixed assets was sold,…

Q: Can you demonstrate the accurate method for solving this General accounting question?

A: Step 1: Define Break-Even SalesBreak-even sales refer to the level of revenue at which a company…

Q: I need help with this general accounting problem using proper accounting guidelines.

A: To calculate the Direct Materials Price Variance, use this formula: Price Variance = (Actual Price -…

Q: I need correct option

A: In order to find the weighted average of debt in Urban Apparel Inc.'s capital structure, we first…

Q: On June 1, 2018, Rivera Corp. issued $3,500,000 of 12% nonconvertible bonds at 102, due on May 31,…

A: Step 1: DefinitionsConcept of Detachable Stock Warrants:Detachable stock warrants are financial…

Q: I am looking for the correct answer to this general accounting question with appropriate…

A: Step 1: Define Fixed Overhead Budget VarianceFixed overhead budget variance measures the difference…

Q: Tutor please solve this MCQ

A: Explanation of Accrual Basis of Accounting:The accrual basis of accounting is a method where…

Q: Can you explain the correct approach to solve this general accounting question?

A: Step 1: DefinitionsConcept of Contribution Margin per Unit: Contribution Margin per Unit is the…

Q: Can you help me solve this general accounting question using valid accounting techniques?

A: Step 1: Definition of Accounts Receivable BalanceAccounts receivable balance refers to the total…

Q: what was the stockholders equity at the end of the year ?

A: Step 1: Definition of Stockholders' EquityStockholders' equity represents the ownership interest of…

Q: give me correct option

A: Step 1: Definition of Tax Effect on LossThe tax effect on a loss refers to the reduction in a…

Q: Accounting solution please

A: Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a profitability ratio that…

Q: hi expert please help me financial accounting

A: Step 1: Definition of Overapplied/Underapplied OverheadOverapplied or underapplied overhead refers…

Q: I want the correct answer with accounting question

A: Step 1: Definition of Overhead Rate per Direct Labor HourOverhead rate per direct labor hour is a…

Q: Greenfield Corporation budgeted 3,500 pounds of material costing $6.80 per pound to produce 1,500…

A: Provided Data:Standard quantity of materials (budgeted) = 3,500 poundsStandard price per pound =…

Q: please give me answer

A: Step 1: Definition of the High-Low MethodThe high-low method is a cost estimation technique used to…

Q: Can you solve this financial accounting question with accurate accounting calculations?

A: Step 1: Definition of EquityEquity represents the ownership interest or net worth of a business and…

Q: Hello tutor provide correct solution

A: Step 1: Definition of High-Low MethodThe high-low method is used to separate mixed costs into fixed…

Q: HELP

A: Explanation of Assets:Assets are resources owned or controlled by a company that are expected to…

Q: Choice best answer please

A: Identify the given information: Debt Ratio = 0.30 Use the relationship between Debt Ratio and Equity…

Q: Can you help me solve this general accounting question using the correct accounting procedures?

A: Step 1: Definition of Finished Goods Inventory (Beginning)Finished Goods Inventory (Beginning)…

Q: What is Golta's direct labor price variance ?

A: Provided Data:Actual direct labor hours (AH) = 42,000 hoursStandard direct labor hours (SH) = 44,500…

Q: Which accounting principle requires that expenses be matched with revenues in the period in which…

A: Explanation of Matching Principle: The matching principle is a fundamental accounting concept that…

Q: I am trying to find the accurate solution to this financial accounting problem with the correct…

A: Step 1: Define Return on Investment (ROI)Return on Investment (ROI) is a performance measure used to…

Q: What are the total overhead costs assigned to Job 101?

A: Concept of Overhead Costs:Overhead costs are the indirect costs of production that cannot be traced…

Q: I am looking for a step-by-step explanation of this financial accounting problem with correct…

A: Concept of Operating Income:Operating income is the profit a company makes from its core business…

Q: Need help

A: Provided Data:Budgeted overhead = $360,000Budgeted labor hours = 60,000 hoursActual labor hours…

Q: I don't need ai answer general accounting question

A: To calculate the Quick Ratio, use the formula:Quick Ratio = (Current Assets - Inventory) / Current…

Q: Accurate answer

A: Explanation of Fixed Costs: Fixed costs are expenses that remain constant regardless of production…

Q: General Accounting Question

A: Step 1: Definition of Activity-Based Costing (ABC)Activity-Based Costing (ABC) is a costing method…

Q: cost accounting

A: Step 1: Definition of Operating LeverageOperating leverage is a financial ratio that measures how a…

Q: General accounting

A: To find the proceeds from the bond issuance, we use the issue price (percentage of face value)…

Q: Need help in this qn

A: Given:Standard: 4 lbs @ $3/lb = $12 per finished unitTotal Variance (Unfavorable): $18,000Actual…

Q: What is the gross profit?

A: Step 1: Definition of Gross ProfitGross Profit is the difference between sales revenue and the cost…

Q: what was the firms 2015 operating cash flow (OCF) ??

Q: Morrison Industries manufactures wood polish. The standard direct materials quantity is 0.60 pounds…

A: Concept of Standard Quantity per Unit:This refers to the predetermined amount of direct materials…

Q: calculate the companys degree of operating leverage ....??

A: Step 1: Definition of Degree of Operating Leverage (DOL)The degree of operating leverage (DOL) is a…

Q: Can you help me solve this financial accounting question using valid financial accounting…

A: Explanation of S Corporation: An S Corporation is a special type of corporation that elects to pass…

Q: give me correct solution please

A: Step 1: Definition of Average Collection Period (ACP)The Average Collection Period (ACP) is a…

Q: what is the conversion premium for this bond?

A: 1. Calculate the Conversion Ratio:Conversion Ratio = Face Value of Bond / Conversion PriceConversion…

Q: General accounting question

A: Step 1: Definition of Lower of Cost or Net Realizable Value (LCM)The LCM rule states that inventory…

Q: Net income using fifo versus Lifo ?

A: Provided Data:Beginning inventory = 75 units @ $20 = $1,500Purchases = 325 units @ $25 = $8,125Total…

Q: Compute comprehensive income for 2022

A: Provided Data:Net Income = $158,000Realized gain on sale of available-for-sale securities =…

Q: What is the correct option

A: Step 1: Definition of Straight-Line DepreciationStraight-line depreciation is a method of allocating…

Q: Cole Company has sales revenue of $39,000, cost of goods sold of $24,000, and operating expenses of…

A: To calculate gross profit, use the formula: Gross Profit = Sales Revenue - Cost of Goods Sold (COGS)…

Q: Financial accounting

A: Step 1: Define Accrued InterestAccrued interest refers to the interest that accumulates on a bond or…

Q: This payroll is for wages earned Monday, may 4th through frit, may 8th.

A: Concept of Accrued Expenses:Accrued expenses are costs that a company has incurred but not yet paid…

Q: Can you solve this general accounting problem with appropriate steps and explanations?

A: Step 1: Definition of Bad Debt ExpenseBad Debt Expense is the portion of accounts receivable a…

Q: Answer please

A: Explanation of Bonds Issued at a Discount:When a bond is issued at a discount, it means the bond is…

Q: Right Answer

A: ExplanationGiven Information:Sales last year: $420 millionFixed assets: $310 millionCurrent capacity…

Question

100%

I need guidance with this financial accounting problem using the right financial principles.

Everglade Corp. provides the following data:
Account
Amount
Accounts Receivable $3,100
Equipment
$12,000
Accounts Payable
$4,700
Prepaid Rent
$2,000
Supplies
$850
Bank Loan
$3,500
Tools
$900
What is the total equity of Everglade Corp.?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Find the following using the data bellow a. Accounts receivable B. Current assets C. Total assets D. Return on assets E. Common equity F. Quick ratio
1. The following accounts appeared on the partial Balance Sheet of Brandy Inc.: Accounts Payable Accounts Receivable $ 5,500 2,300 2,820 3,000 8,140 18,560 18,760 100 Bank Loan Cash Common Stock Inventory Long-term debt Machinery What is the total amount of all assets (rounded to the nearest dollar)?
We are given the following information for the Pettit Corporation. Sales (credit) Cash Inventory Current liabilities Asset turnover Current ratio Debt-to-assets ratio Receivables turnover $ 2,880,000 188,000 890,000 811,000 1.35 times 2.30 times a. Accounts receivable b. Marketable securities c. Fixed assets d. Long-term debt 40 % 5 times Current assets are composed of cash, marketable securities, accounts receivable, and inventory. Lienser Fraktala TAMARA TANT RISHI TRITATE FAST JET PARETSTRANS I nemal osted or annemangen MANENBER HAGPAINT MANSION LARPURCO Calculate the following balance sheet items. (Do not round intermediate calculations. Round your final answers to the nearest whole number.)
The following is selected financial data from Block Industries: How much does Block Industries have in current liabilities? A. $19,800 B. $18,300 C. $12,300 D. $25,800
Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $34,944 Accounts receivable 69,094 Accrued liabilities 6,969 Cash 17,451 Intangible assets 38,664 Inventory 76,507 Long-term investments 106,760 Long-term liabilities 76,378 Marketable securities 37,920 Notes payable (short-term) 20,617 Property, plant, and equipment 699,093 Prepaid expenses 2,696 Based on the data for Harding Company, what is the amount of working capital? a.$1,048,185 b.$203,668 c.$141,138 d.$696,397
Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $35,479 Accounts receivable 69,658 Accrued liabilities 6,342 Cash 21,866 Intangible assets 40,636 Inventory 81,299 Long-term investments 116,464 Long-term liabilities 78,760 Marketable securities 34,728 Notes payable (short-term) 21,173 Property, plant, and equipment 607,986 Prepaid expenses 2,827 Based on the data for Harding Company, what is the amount of quick assets? a.$56,594 b.$126,252 c.$1,510,965 d.$745,879
please give me answer
i) The dollar value of earning assetsii) The dollar value of interest-bearing liabilities
The balance sheet of Koehn, Incorporated, has the following balances: Cash Accounts receivable Inventory Beginning balance $ 30,300 48,200 126,500 611,900 Ending balance 43,200 415,000 $ 32,800 51,600 129,200 574,300 53,600 304,200 Net fixed assets Accounts payable Long-term debt What is the amount of the change in net working capital?
How do I solve this?
Analyse the effect of the actions below on the debt/equity ratio. Assume current debt/equity ratio is 0.5. (v) Issuing new equity (vi) Account receivable collected (vii) Sell goods on book value, on cash basis (viii) Pay off the company’s long term bank loan
You are evaluating the balance sheet for Goodman's Bees Corporation. From the balance sheet you find the following balances: cash and marketable securities = $400000, Accounts receivable = $1200000, Inventory = $2100000, Accrued wages and taxes = $500000, accounts payable = $800,000, and notes payable = $600000. Calculate Goodman Bees' net working captaL