need this account subjects solutions For each of the following situations, compute themissing amount.a. Assets $71,300, Liabilities $15,400 = Net worth $b. Assets $89,500, Liabilities $ = Net worth $25,500c. Assets $37,080, Liabilities $13,665 = Net worth$d. Assets$, Liabilities $40,645 = Net worth $58,254

Assets=Equity+LiabilitiesHere, Equity = Net Worth, thus the formula is rewritten as Assets=Net…

Answered: For each of the following situations,…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts

Section: Chapter Questions

Problem 1E

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Total assets = $900, fixed assets = $600, long-term debt= $500, and short-term debt = $200. Total debt? A. $500B. $600C. $700D. $800
If current assets are $112,000 and current liabilities are $56,000, what is the current ratio?A. 200 percentB. 50 percentC. 2.0D. $50,000
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Calculate the following for Co. XYZ: a. Current ratio b. Debt ratio Assets: Cash and marketable securities $400,000 Accounts receivable 1,415,000 Inventories 1,847,500 Prepaid expenses 24,000 Total current assets $3,686,500 Fixed assets 2,800,000 Less: accumulated depreciation 1,087,500 Net fixed assets $1,712,500 Total assets $5,399,000 Liabilities: Accounts payable $600,000 Notes payable 875,000 Accrued taxes Total current liabilities $1,567,000 Long-term debt 900,000 Owner's equity Total liabilities and owner's equity Co. XYZ Income Statement: Net sales (all credit) $6,375,000 Less: Cost of goods sold 4,375,000 Selling and administrative expense 1,000,500 Depreciation expense 135,000 Interest expense Earnings before taxes $765,000 Income taxes Net income Common stock dividends $230,000 Change in retained earnings
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= If Liabilities Equity AED 80,000, then Assets A. AED 210,000 B. AED 90,000 C. AED 150,000 D. AED 160,000
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1. If current assets amounted to P600,000 and current liabilities amounted to P200,000, what is the current ratio of the entity? *a. P800,000b. P400,000c. 3d. 1/3 3. If net sales is P200,000 and the average accounts receivable is P50,000, what is the accounts receivable turnover ratio? *a. 4b. 1/4c. P150,000d. P250,000 5. If total assets amounted to P800,000 and total liabilities amounted to P200,000, what is the debt to equity ratio? *a. 4b. 0.3333c. 0.25d. 3

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For each of the following situations, compute the missing amount. a. Assets $71,300, Liabilities $15,400 = Net worth $ b. Assets $89,500, Liabilities $ = Net worth $25,500 c. Assets $37,080, Liabilities $13,665 = Net worth$ d. Assets$, Liabilities $40,645 = Net worth $58,254