ORExtract of Balance sheet items as at 31 December 201920000Land8700Account receivables11500Capital3200Closing Stock3000Loan1500Bank overdraft500Cash7500Mortagage loan1650Machinery6000Account payables1000Accumulated Depreciation4200Short term lInvestments4500Trade marks1000Drawings7150Retained Earnings1300Expense payable: Total Current Assets areاخترأحد الخياراتa.OR 12150b. OR 24300C.OR 16600d. OR 10850 ORBalance sheet items as at 31 December 201920000Equipment3500Account receivables11500Retained earnings5000Inventories3000Loan1500Bank overdraft500Cash and bank7500Net Loss1650Furniture6000Trade payables1000Tax Payable200Short term Investments4500Goodwill1000Drawings24000Capital1300Prepaid Expenses:Total Liabilities amount isاخترأحد الخياراتa. OR 8500b.OR 15500C. OR 11500d. OR 7000MacBook Pro

The total assets of a firm can be divided into two categories; 1) Current assets and 2) Non-current…

OR Extract of Balance sheet items as at 31 December 2019 20000 Land 8700 Account receivables 11500 Capital 3200 Closing Stock 3000 Loan 1500 Bank overdraft 500 Cash 7500 Mortagage loan 1650 Machinery 6000 Account payables 1000 Accumulated Depreciation 4200 Short term Investments 4500 Trade marks 1000 Drawings 7150 Retained Earnings 1300 Expense payable : Total Current Assets are اخترأحد الخیارات a. OR 12150 b. OR 24300 O С. OR 16600 d. OR 10850

OR Extract of Balance sheet items as at 31 December 2019 20000 Land 8700 Account receivables 11500 Capital 3200 Closing Stock 3000 Loan 1500 Bank overdraft 500 Cash 7500 Mortagage loan 1650 Machinery 6000 Account payables 1000 Accumulated Depreciation 4200 Short term Investments 4500 Trade marks 1000 Drawings 7150 Retained Earnings 1300 Expense payable : Total Current Assets are اخترأحد الخیارات a. OR 12150 b. OR 24300 O С. OR 16600 d. OR 10850

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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The following information is for Swifty Real Estate: SwiftyReal EstateBalance SheetDecember 31, 2020 Cash $ 25500 Accounts Payable $ 60500 Prepaid Insurance 29700 Salaries and Wages Payable 15100 Accounts Receivable 50600 Mortgage Payable 84500 Inventory 68600 Total Liabilities 160100 Land Held for Investment 83500 Land 120600 Buildings $98100 Less Accumulated Depreciation Owner's Capital 366400 (19600) 78500 Trademark 69500 Total Liabilities and Owner’s Equity Total Assets $526500 $526500 The total dollar amount of liabilities to be classified as current liabilities is $160100. $15100. $60500. $75600.
xtract of Balance sheet items as at 31 December 2020 OR Land 35000 Account receivables 3500 Capital 11500 Closing Stock 15000 Loan 3000 Bank overdraft 3200 Cash 2500 Mortagage loan 7500 Machinery 1650 Trade payables 5700 Accumulated Depreciation 1000 Short term Investments 2200 Trade marks 6000 Drawings 1000 Retained Earnings 7150 Prepaid Expenses 2300 Calculate Owners Equity Select one: a. None Of These b. 8900 OMR c. 58250 OMR d. 17650 OMR
he financial statements of Hollywood Estate are given below. Comparative Statements of Financial Position at: 30 September 2021 30 September 2020 Assets $ $ Current Assets Inventory 420 000 460 000 Accounts Receivable 390 000 320 000 Interest Receivable 4 000 9 000 Investments (Held for trading) 50 000 0 Cash in bank 75 000 0 Cash in hand 7 000 5 000 Total Current Assets 946 000 794 000 Non-Current Assets Property, Plant and Equipment (net) 584 000 510 000 TOTAL ASSETS 1 530 000 1 304 000 Liabilities and Shareholders’ Equity Current Liabilities Bank overdraft 0 70 000 Accounts Payable 550 000 400 000 Interest Payable 6 000 33 000 Income Tax Payable 100 000 90 000 Other Payables 30 000 0 Total Current Liabilities 686 000 593 000 Non-Current Liabilities…
Prepare a classified balance sheet as of December 31, 2022 Cash 49104 Accounts Receivable 44880 Inventory 19976 Land 57200 Buildings 83600 Equipment 35200 Accumulated Dep-Buildings 29040 Accumulated Dep-Equipment 15840 Account Payable 16984 Interest Payable 4400 Dividends Payable 5900 Unearned Rent Revenue 1760 Bonds Payable 44000 Preferred Stock 17600 Paid-in Capital in Excess of Par-Preferred Stock 1760 Common Stock 35200 Paid-in Capital in Excess of Par-Common Stock 16720 Retained Earnings 66044 Treasury Stock 12936 Cash Dividends 5940 Sales Revenue 501600 Rent Revenue 5280 Bad Debt Expense 4092 Interest Expense 4400 Cost of Goods Sold 352000 Depreciation Expense 5808 Other Operating Expenses 34320 Salaries and Wages Expenses 57200 766656 766656
What is net income ? 251+113 =364 or only 251 ?????
The following information for Cheyenne Real Estate
ANSWER ACCORDINGLY PLEASE AND THANK YOU!
- What is the "current assets"? - What it the "long-term liabilities"?
5. The following list of balances obtained from Agro Trading as at 31 July 2020. PARTICULARS RM Cash in hand Cash at bank Account receivable Inventory as at 1 June 2019 Motor vehicles Plant and machinery Long term investment Freehold premises Account payable 10% Mortgage on freehold premises Capital 100 9,000 12,840 26,500 14,000 50,000 10,000 147,500 16,500 34,000 219,840 128,900 70,300 1,000 1,700 2,000 21,000 3,000 7,400 600 Purchases Wages and salaries Rates and taxes Interest on mortgage General expenses Carriage outwards Insurance premium Drawings Carriage inwards Advertising expenses Sales Sales returns 14,000 250,000 1,000 500 Purchases returns Discount received Discount allowed Allowance for doubtful debt 600 800 200 Inventory at 31 July 2020 was RM30,000. Required: i. Statement of Profit and Loss and Others Comprehensive Income for the year ended 31 July 2020. ii. Statement of Financial Position as 31 July 2020
The following information is for Sweet Day Real Estate: Sweet Day Real EstateBalance SheetDecember 31, 2021 Cash $ 24500 Accounts Payable $ 60600 Prepaid Insurance 29700 Salaries and Wages Payable 14700 Accounts Receivable 50300 Mortgage Payable 85800 Inventory 68600 Total Liabilities 161100 Land Held for Investment 83900 Land 118500 Buildings $101200 Common Stock $122100 Less Accumulated Depreciation (20200) Retained Earnings 244300 366400 81000 Trademark 71000 Total Liabilities and Stockholders’ Equity Total Assets $527500 $527500 The total dollar amount of assets to be classified as current assets is A) $257000. B) $104500. C) $173100. D) $188400.
Please explain why the total is 129960?
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