For each separate situation, compute the missing amount.AssetsLiabilitiesEquity$95,000 $27,0001.2.3.EAEA90,000 $39,000143,000$62,000

To compute the missing amounts, we'll use the basic accounting equation:Assets=Liabilities+Equity…

Answered: For each separate situation, compute…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Similar questions

Determine the missing amount from each of the separate situations given below. Assets Liabilities Equity 157,000 %3D 26,000 100,000 = 59,000 +. 204.000 %3D 62,000
EB12. LO 5.3 Using the following Balance Sheet summary information, calculate for the two years presented: A. working capital B. current ratio Current assets Current liabilities 12/31/2018 $366,500 120,000 12/31/2019 $132,000 141,500
Hh1.
M7Q1 Redo
Based on the following adjusted trial balance of Lyndon Company on December 31, 200C, the end of the accounting period: Cash Note Receivable P 67,075 70,000 176,500 Accounts Receivable Allowance for Bad Debts Merchandise Inventory, Jan. 1 Furniture & Fixtures 5,400 60,900 34,100 Accumulated Depreciation - Furn. & Fixt Office Equipment Accumulated Depreciation - Office Eapmt Note Payable Accounts Payable Leonard Capital Leonard Drawing Sales Sales Returns 3,100 15,500 1,500 20,000 94,750 265,000 9,500 572,875 11,000 6,400 390,750 5,415 Sales Discount Purchases Freight in Purchase Returns Pychase discount Salaries Expense Rent Expense Insurance expense Office supplies expense Rental Income 3,630 6,885 99.530 24,000 5,250 2,200 5,000 Additional information: Merchandise Inventory, December 31, P 76,000
E10.18 (LO 5), AN Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). 3M CompanyBalance Sheets (partial) 2022 2021 Current assets Cash and cash equivalents $ 3,040 $1,849 Accounts receivable, net 3,250 3,195 Inventories 2,639 3,013 Other current assets 1,866 1,541 Total current assets $10,795 $9,598 Current liabilities $ 4,897 $5,839 Instructions Calculate the current ratio and working capital for 3M for 2021 and 2022. Suppose that at the end of 2022, 3M management used $300 million cash to pay off $300 million of accounts payable. How would its current ratio and working capital have changed?
Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals Credit $ 129,000 11,400 10,400 4,400 34,000 240,000 54,000 440,000 340,000 17,000 34,000 4,400 $923,200 $923,200 Debit $11,400 144,000 5,400 27,000 340,000
Total assets = $900, fixed assets = $600, long-term debt= $500, and short-term debt = $200. Total debt? A. $500B. $600C. $700D. $800
Determine the missing amount Assets Liabilities Equity Revenues Expenses 150,000 75,000 ? 15,000 10,000 115,000 25,000 65,000 ? 76,000
BE14.10 (LO 3), AP Suppose these selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands). 2022 2021 $ 13,606 $7,669 23,045 19,951 31,087 31,345 12,522 11,909 $80,260 $ 70,874 $245,805 $326,203 Cash Accounts receivable (net) Inventory Other current assets Total current assets Total current liabilities Compute the current ratio for each year. 2021 2022 Round to hundreds (.00)
Determine the missing amounts for each of the following: asset = Liability + owners equity a. 633,000 + 5737,000 b. 6124,500= +5737,000 c. 1981,800 = 748,900 +
Determine the missing amount: Assets == Liabilities + Owner's Equity. $895000 + $354000 =

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For each separate situation, compute the missing amount. Assets Liabilities Equity $ 95,000 $ 27,000 1. 2. 3. EA EA 90,000 $ 39,000 143,000 $ 62,000