How much is the total free assets?992,250953,5751,114,7501,059,625 The following data were taken from the statement of affairs of ABC CORP:P441,00050,000735,000551,250Accounts payableТаxesTrustees expensesShareholder's equityP367,50072,50055,125SalariesBonds payable (unsecured)Loss on asset realization

Free assets of the business means those assets which can be used or utilised in business without any…

Answered: How much is the total free assets?…

Business

Accounting

How much is the total free assets? 992,250 953,575 1,114,750 1,059,625

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: am. 146.

A: To determine the project's discounted payback period, we need to discount each of the cash flows at…

Q: Present and future values of $1 at 3% are presented below: N FV $1 PV $1 FVA $1 PVA $1 FVAD $1…

A: The objective of the question is to determine how long Debbie's 401K fund will last if she withdraws…

Q: Time 0 (SO) JPY 104.32/ USD USD 1.3763/ EUR Which of the following is a true statement? a. The JPY…

A: When the currency value is decreased against other currency then it can be said that the currency…

Q: How do we account for the total costs of assets? What items are included?

A: When accounting for the total cost of assets trade or any other discount are deducted from the…

Q: Use the information below to answer the following questions. Present and future value tables of $1…

A: In this we have to calculate the present value FACTOR.

Q: Would you please explin step 4 from where you for total assets and euity

A: Total assets includes the current assets as well as non current assets (including tangible and…

Q: maturity value of the CD?

A: Amount deposited = $100,000 Time period = 3 years Interest rate = 12% compounded quarterly Points…

Q: Shelley wants to cash in her winning lottery ticket. She can either receive fourteen, $200,000…

A: Time value of money :— According to this concept, value of money in present day is greater than the…

Q: Why isn't the $900,000 loan taken into account when calculating goodwill/consideration?

A: Goodwill exists in case of the acquisition when there has been acquired by the acquiring company the…

Q: The minimum transfer price equals ________ A. opportunity costs times 125% plus the additional…

A: ANSWER Transfer price is the amount charged to transfer of goods or service between one division to…

Q: ompany issues 7%, 7-year bonds with a par value of $170,000 on January 1 at a price of $179,602,…

A: The annual interest paid on the bond is the coupon rate of the bond into the par value of the bond.…

Q: an you explain why you used the 2800$

A: Allowance for doubtful accounts refers to the account which decreases the asset amount and allowance…

Q: Determine the FW of the foliowing engineering project when the MARR is 18% por year. Is the project…

A: From the given information, Annual net benefit ($) = Receipt - Expense = 7,500 - 3,000 = 4,500 FW…

Q: If national income Y = 10,500, disposable income Yd = 8,500 , consumption is C = 8,000, transfer…

A: The answer is stated below:

Q: The factor value of (F/A,10%,5) is a. 3.7908 Ob.6.1051 Oc. 0.16380 Od.0.26380

A: The present value interest factor (PVIF) is a formula for calculating the current value of money…

Q: is there a $100 need to be deducted as p

A: Adjusted Gross income refers to the total sum value of income gained by an entity after deducting…

Q: Cost of property asset minus the residual value is equal to net book value.

A: Cost of Property - It Includes the purchase Price of the Property. stamp duty, and other cost…

Q: Calculate the Treynor measure of the Tiger Fund. O9.71% O 13.1% 8.56% 55.92% O 3.60%

A: Approach to solving the question:The question has 5 given optionsDetailed explanation:I used my…

Q: Why is it 6000 instead of 5000 as the prensent contribution?

A: We have, Contribution to IRA = $5,000 Interest rate = 6% Period, n = 30 yrs Future Tax rate = 28% or…

Q: Where does the $850 go?

A: Coupon Rate =

Q: If the profit margin is 0.1142, asset turnover is 0.5619 and financial leverage is 1.2937, what is…

A: RETURN ON ASSET (ROA) : = NET PROFIT MARGIN X ASSET TURNOVER RATIO 1. NET PROFIT MARGIN = 0.1142…

Question

How much is the total free assets?

992,250

953,575

1,114,750

1,059,625

The following data were taken from the statement of affairs of ABC CORP:
P441,000
50,000
735,000
551,250
Accounts payable
Таxes
Trustees expenses
Shareholder's equity
P367,500
72,500
55,125
Salaries
Bonds payable (unsecured)
Loss on asset realization

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 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Please show the solution.
20. Complete the following table: Purchase price of product Landcruiser Down payment Amount financed Number of monthly payments amount of monthly payments total of monthly payments total finance charge $83,900 $50,000 72 $618
Present and future values of $1 at 3% are presented below: N FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000 2 1.06090 0.94260 2.0300 1.91347 2.0909 1.97087 3 1.09273 0.91514 3.0909 2.82861 3.1836 2.91347 4 1.12551 0.88849 4.1836 3.71710 4.3091 3.82861 5 1.15927 0.86261 5.3091 4.57971 5.4684 4.71710 6 1.19405 0.83748 6.4684 5.41719 6.6625 5.57971 7 1.22987 0.81309 7.6625 6.23028 7.8923 6.41719 8 1.26677 0.78941 8.8923 7.01969 9.1591 7.23028 9 1.30477 0.76642 10.1591 7.78611 10.4639 8.01969 10 1.34392 0.74409 11.4639 8.53020 11.8078 8.78611 11 1.38423 0.72242 12.8078 9.25262 13.1920 9.53020 12 1.42576 0.70138 14.1920 9.95400 14.6178 10.25262 13 1.46853 0.68095 15.6178 10.63496 16.0863 10.95400 14 1.51259 0.66112 17.0863 11.29607 17.5989 11.63496 15 1.55797 0.64186 18.5989 11.93794 19.1569 12.29607 16 1.60471 0.62317 20.1569 12.56110 20.7616 12.93794 Rosie's Florist borrows $300,000 to be paid off in six…
What is a qualifying asset? Provide two (2) examples. (maximum 400 words)
A company that was to be liquidated had the following liabilities: Income Taxes Notes Payable secured by land Accounts Payable $ 15,000 120,000 48,000 Salaries Payable ($18,000 for Employee #1 and $5,000 for Employee #2) Administrative expenses for liquidation The company had the following assets: 23,000 Current Assets Land Building Saved 25,000 Book Fair Value Value $130,000 $115,000 60,000 100,000 175,000 220,000 Total liabilities with priority are calculated to be what amount? Multiple Choice О $106,650. $38,000.
How to calculate out the answer to $1,011,982?
Consider the following table: Vehicle #1 $24,350 W X What is the value of y? 2.24 1.03 1.45 1.72 000. Vehicle #2 $34,890 1 Z Vehicle #3 $59,980 y 100
Question: 1. Fair Hevan Mutual fund cooperation provides investment services over 10-year period. The table below has information on some of the mutual funds they holds. Fund A C D Number of funds 9651 2752 1490 3045 Total return (%) 4.7 18.5 11.6 6.9 Based on number of funds in each category, Calculate the weighted average total return. 2. What are the other possible measures for weights, if number of mutual funds is not the best option. 3.Based on the following details on investment, calculate the expected retrun of the portfolio.
type plz
Pre-Lecture Question 01 Which of the following is a characteristic of intangible assets? 1 They are all subject to amortization. 2 They are long-term in nature. 3 They are financial instruments. 4 They have physical existence.