Frick Company began the accounting period with $60,000 of merchandise, and the net cost of purchases was $240,000. A physical inventory count showed $72,000 of merchandise unsold at the end of the period. The cost of goods sold of Frick Company for the period is: a. $300,000 b. $228,000 c. $252,000 d. $168,000 e. none of the above Suppose that for 2010 Aquarius company's current assets totaled $60,000; total assets totaled 470,000; current liabilities totaled 72,000; and total liabilities totaled $430,000. Calculate the debt-to-equity ratio for Aquarius for 2010. Calculate the debt-to-equity ratio for Aquarius for 2010. (round your answer to three decimal places.) Prepare the Stockholder's Equity section of the Balance sheet given the following information: Preferred Stock $500,000Paid In Capital in Excess of Par P/S $10,000 Common Stock $700,000 Paid in Capital in Excess of Par C/S $200,000 Retained Earnings $40 0,000 Treasury Stock $40,000 Paid in Capital from Sale of Treasury Stock $5,000
Frick Company began the accounting period with $60,000 of merchandise, and the net cost of purchases was $240,000. A physical inventory count showed $72,000 of merchandise unsold at the end of the period. The cost of goods sold of Frick Company for the period is: a. $300,000 b. $228,000 c. $252,000 d. $168,000 e. none of the above Suppose that for 2010 Aquarius company's current assets totaled $60,000; total assets totaled 470,000; current liabilities totaled 72,000; and total liabilities totaled $430,000. Calculate the debt-to-equity ratio for Aquarius for 2010. Calculate the debt-to-equity ratio for Aquarius for 2010. (round your answer to three decimal places.) Prepare the Stockholder's Equity section of the Balance sheet given the following information: Preferred Stock $500,000Paid In Capital in Excess of Par P/S $10,000 Common Stock $700,000 Paid in Capital in Excess of Par C/S $200,000 Retained Earnings $40 0,000 Treasury Stock $40,000 Paid in Capital from Sale of Treasury Stock $5,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Frick Company began the accounting period with $60,000 of merchandise, and the net cost
of purchases was $240,000. A physical inventory count showed $72,000 of merchandise
unsold at the end of the period. The cost of goods sold of Frick Company for the period is:
a. $300,000
b. $228,000
c. $252,000
d. $168,000
e. none of the above
Suppose that for 2010 Aquarius company's current assets totaled $60,000; total assets
totaled 470,000; current liabilities totaled 72,000; and total liabilities totaled $430,000.
Calculate the debt-to-equity ratio for Aquarius for 2010.
Calculate the debt-to-equity ratio for Aquarius for 2010. (round your answer to three
decimal places.)
Prepare the Stockholder's Equity section of the Balance sheet given the following
information: Preferred Stock $500,000Paid In Capital in Excess of Par P/S $10,000
Common Stock $700,000 Paid in Capital in Excess of Par C/S $200,000
Retained Earnings $40
0,000
Treasury Stock $40,000
Paid in Capital from Sale of Treasury Stock $5,000
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