please help me Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting recordsreflected the following:Cash$22,000 Accounts payable3,000 Accrued liabilities payable3,000 Notes payable (current)20,000 Notes payable (noncurrent)1,000 Common atock50,000 Additional paid-in capital90,000 Retained earnings5,000$15,0004,0007,00047,00010,00080,00031,000Investments (nhort-term)Accounts receivableInventoryNoten receivable (long-tern)EquipmentFactory buildingIntangiblesDuring the current year, the company had the following summarized activities:a. Purchased short-term investments for $10,000 cash.b. Lent $5,000 to a supplier, who signed a two-year note.c. Purchased equipment that cost $18,000; paid $5,000 cash and signed a one-year note for the balance.d. Hired a new president at the end of the year. The contract was for $85,000 per year plus options to purchasecompany stock at a set price based on company performance. The new president begins her position on January 1of next year.e. Issued an additional 2,000 shares of $0.50 par value common stock for $11,000 cash.f. Borrowed $9,000 cash from a local bank, payable in three months.9. Purchased a patent (an intangible asset) for $3,000 cash.h. Built an addition to the factory for $24,000; paid $8,000 in cash and signed a three-year note for the balance.1. Returned defective equipment to the manufacturer, receiving a cash refund of $1,00o.6. Compute the current ratio for the current year. (Round your answer to 2 decimal places.)Current ratio

The ratio analysis helps to analyze the financial statements of the business. The current ratio is…

Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following: Cash Investments (short-term) Accounts receivable Inventory Notes receivable (long-term) Equipment Factory building Intangibles $22,000 Accounts payable 3,000 Accrued liabilities payable 3,000 Notes payable (current) 20,000 Notes payable (noncurrent) 1,000 Common stock 50,000 Additional paid-in capital 90,000 Retained earnings 5,000 $15,000 4,000 7,000 47,000 10, 0০০ 80,000 31,000 During the current year, the company had the following summarized activities:

Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following: Cash Investments (short-term) Accounts receivable Inventory Notes receivable (long-term) Equipment Factory building Intangibles $22,000 Accounts payable 3,000 Accrued liabilities payable 3,000 Notes payable (current) 20,000 Notes payable (noncurrent) 1,000 Common stock 50,000 Additional paid-in capital 90,000 Retained earnings 5,000 $15,000 4,000 7,000 47,000 10, 0০০ 80,000 31,000 During the current year, the company had the following summarized activities:

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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