Solve this problem Provide answer to this financial accounting Problem: Dual Company'scomplete assets and liabilities are:Accounts Receivable $3,650Equipment$12,000Accounts Payable$6,100Prepaid Rent$1,450Supplies$625Bank Loan$2,650Tools$605Dual's total equity is

Explanation of Total Equity: Total equity, also known as shareholders' equity or net worth,…

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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 account balances were extracted from the accounting records of A and D Corporation: Accounts Receivable $280,000 Uncollectible Account Expense $45,000 Allowance for Uncollectible Accounts $35,000 What is the net realizable value of the accounts receivable? $280,000 O $270,000 O $200,000 O $245,000 O $235,000
Thunder Corporation's balance sheet and income statement appear below: Assets: Cash and cash equivalents Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income Operating activities: Comparative Balance Sheet Income Statement @ 550 D RSA $ 891 Required: Prepare a statement of cash flows in good form using the indirect method. Note: List any deduction in cash and cash outflows as negative amounts. Thunder Corporation Statement of Cash Flows For This Year Ended December 31 334 $ 116 Santa Ending Balance 72 53 466 206 $ 425 53 $ 425 SER SIS The company did not dispose of any property, plant, and equipment, issue any bonds payable, or repurchase a stock during the year. The company…
K. Jackson Corporation Assets Cash Accounts receivable Inventory Net fixed assets Total assets Liabilities and owners' equity. Accounts payable ST Notes payable Long-term debt Owners' Equity Total liabilities and owner's equity Balance Sheet $250,000 450.000 500,000 2.100,000 $3,300.000 $100.000 450.000 1,050,000 1,700.000 $3,300,000 Income Statement Sales (all credit) Cost of goods sold Operating expense Interest expense Income taxes Net income $8,000,000 (4.000.000) (2,900,000) (150,000) (380,000) $570,000 Based on the information for K. Jackson Corporation, the current and acid-test ratios are, respectively. OA2.37 and 1.39. OB2 37 and 1.27 OC2 18 and 1.39 OD.2 18 and 1.27 OE None of the above.
If you give wrong answer this accounting question I will give you unhelpful rate
SJM's financial statements contain the following information: Cash $2,725,000 Marketable securities 1,725,000 Accounts receivable 3,050,000 Inventory 3,950,000 Accounts payable 3,275,000 Accrued expenses 1,700,000 Long-term debt 9,100,000 Cost of goods sold 4,250,000 Required: Assume the accounts payable balance is all trade payables and opening and closing balances are the same. Round your answers to two decimal places. 1. What is the current ratio?fill in the blank 1 2. What is the quick ratio?fill in the blank 2 3. What is the cash ratio?
SJM's financial statements contain the following information: Cash $2,725,000 Marketable securities 1,725,000 Accounts receivable 3,050,000 Inventory 3,950,000 Accounts payable 3,275,000 Accrued expenses 1,700,000 Long-term debt 9,100,000 Cost of goods sold 4,250,000 Required: Assume the accounts payable balance is all trade payables and opening and closing balances are the same. Round your answers to two decimal places. 1. What is the current ratio? fill in the blank 1 2.30 2. What is the quick ratio? fill in the blank 2 1.51 3. What is the cash ratio? fill in the blank 3 0.89 4. What is the trade payable turnover ratio? fill in the blank 4
Provide answer to this financial accounting Problem: Dual Company's complete assets and liabilities are: Accounts Receivable $3,650 Equipment $12,000 Accounts Payable $6,100 Prepaid Rent $1,450 Supplies $625 Bank Loan $2,650 Tools $605 Dual's total equity is
Compare the Solvency, Liquidity and Profitability for the two companies
1. If current assets amounted to P600,000 and current liabilities amounted to P200,000, what is the current ratio of the entity? *a. P800,000b. P400,000c. 3d. 1/3 3. If net sales is P200,000 and the average accounts receivable is P50,000, what is the accounts receivable turnover ratio? *a. 4b. 1/4c. P150,000d. P250,000 5. If total assets amounted to P800,000 and total liabilities amounted to P200,000, what is the debt to equity ratio? *a. 4b. 0.3333c. 0.25d. 3

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Provide answer to this financial accounting Problem: Dual Company's complete assets and liabilities are: Accounts Receivable $3,650 Equipment $12,000 Accounts Payable $6,100 Prepaid Rent $1,450 Supplies $625 Bank Loan $2,650 Tools $605 Dual's total equity is