Powerpuff Girl Laundry has current assets amounting to $300,000. Noncurrent assets for the year totaled $89,000. What percentage of the laundry's total assets is current assets
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Powerpuff Girl Laundry has current assets amounting to $300,000. Noncurrent assets for the year totaled $89,000. What percentage of the laundry's total assets is current assets?
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- The following items were reported on Kevin Company's statement of comprehensive income for the year ended December 31, 2021: Legal and audit fees-P170,000; Rent expense-P240,000; Interest expense-P210,000; Loss on sale of equipment-P35,000. The office space is used equally by Kevin's sales and accounting departments. What amount of the above-listed items should be classified as general and administrative expenses? A P325,000 B) P500,000 P290,000 D) P410,000Rottweiler Obedience School's December 31, 2021, balance sheet showed net fixed assets of $1,785,000, and the December 31, 2022, balance sheet showed net fixed assets of $2,160,000. The company's 2022 income statement showed a depreciation expense of $333,000. What was the company's net capital spending for 2022? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. Net capital spendingLogano Driving School's 2017 balance sheet showed net fixed assets of $4.4 million, and the 2018 balance sheet showed net fixed assets of $6.6 million. The company's 2018 income statement showed a depreciation expense of $845,000. What was net capital spending for 2018? Multiple Cholce $2,200,000 $-2,200,000 $-1,355,000 $3,045,000 $1,355,000
- The following income statement and balance sheets for The Athletic Attic are provided. THE ATHLETIC ATTIC Income Statement For the Year Ended December 31, 2024 Net sales $8,880,000 Cost of goods sold 5,440,000 Gross profit 3,440,000 Expenses: Operating expenses $1,590,000 Depreciation expense 208,000 Interest expense 48,000 Income tax expense 358,000 Total expenses 2,204,000 Net income $1,236,000 THE ATHLETIC ATTIC Balance Sheets December 31 2024 2023 Assets Current assets: Cash $162,000 $212,000 Accounts receivable 780,000 800,000 Inventory 1,395,000 1,065,000 Supplies 108,000 83,000 Long-term assets: Equipment 1,140,000 1,140,000 Less: Accumulated depreciation (416,000) (208,000) Total assets $3,169,000 $3,092,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $113,000 $89,000 Interest payable 0 4,800 Income tax payable 39,000 30,800…During August, 2020, Sheffield’s Supply Store generated net sales of $60100. The company’s expenses were as follows: cost of goods sold of $35000 and operating expenses of $4500. The company also had rent revenue of $1000 and a loss on the sale of a delivery truck of $1700. Sheffield’s operating income for the month of August 2020 is $20600.$21600.$19900.$25100.Sunland Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,944,000 on March 1, $1,224,000 on June 1, and $3,072,650 on December 31. Compute Sunland's weighted-average accumulated expenditures for interest capitalization purposes. Weighted-average accumulated expenditures $
- Wallace Driving School's 2020 balance sheet showed net fixed assets of $3.8 million, and the 2021 balance sheet showed net fixed assets of $4.1 million. The company's 2021 income statement showed a depreciation expense of $415,000. What was net capital spending for 2021? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e.g., 1,234,567.) Net capital spendingCanine Couture is a specialty dog clothing boutique that sells clothing and clothing accessories for dogs. In 2019, they had gross revenue from sales totaling $180,351. Their operating expenses for this same period were $35,801. If their Cost of Goods Sold (COGS) was 24% of gross revenue, what was their net operating income for the year? Round to the nearest whole dollar, no decimal places.
