Riverside Gardens' year-end 2024 balance sheet lists current assets of $325,000, fixed assets of $475,000, current liabilities of $295,000, and long-term debt of $285,000. Calculate Riverside's total stockholders' equity.
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- Red Corporation had $1,750,000 in total liabilities and $3,000,000 in total assets as of December 31, 2020. Of Red's total liabilities, $600,000 is long-term. Required: Calculate Red's debt to assets ratio and its long-term debt to equity ratio. Round your answers to four decimal places, if required. Debt to Total Assets fill in the blank 1 Long-Term Debt to Total Equity fill in the blank 2Sonic Corporation recorded current assets of $345,200 and current liabilities of $318,650 for year 2020. Compute for Sonic's working capital for the year. Select one: a. $663,850 b. $26,550 O C. 92% d. 1.08Rottweiler Obedience School's December 31, 2021, balance sheet showed net fixed assets of $1,760,000, and the December 31, 2022, balance sheet showed net fixed assets of $2,110,000. The company's 2022 income statement showed a depreciation expense of $328,000. 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 spending
- 10. Powell Corporation includes the following selected accounts in its general ledger at December 31, 2025: View the selected accounts. Prepare the liabilities section of Powell Corporation's balance sheet at December 31, 2025. Plus: Total Liabilities Powell Corporation Balance Sheet (Partial) December 31, 2025 Selected Accounts - ☑ Notes Payable (long-term) 55,000 Bonds Payable (long-term) 215,000 Interest Payable (due next year) Sales Tax Payable $ 780 640 Accounts Payable 20,000 Premium on Bonds Payable 5,950 Salaries Payable 1,840 Estimated Warranty Payable 1,000 Print DoneOn January 1, 2024, the Marjlee Company began construction of an office building to be used as its corporate headquarters. The building was completed early in 2025. Construction expenditures for 2024, which were incurred evenly throughout the year, totaled $9,300,000, Marjlee had the following debt obligations which were outstanding during all of 2024: Construction loan, 11% Long-term note, 10% 1 Long-term note, 7% $ 2,325,000 3,100,000 6,200,000 Required: Calculate the amount of interest capitalized in 2024 for the building using the specific interest method. Interest capitalizedWallace Driving School’s 2020 balance sheet showed net fixed assets of $4.7 million, and the 2021 balance sheet showed net fixed assets of $5.3 million. The company’s 2021 income statement showed a depreciation expense of $405,000. What was net capital spending for 2021?
- Rottweiler Obedience School's December 31,2021, balance sheet showed net fixed assets of $1,810,000, and the December 31,2022, balance sheet showed net fixed assets of $2,210,000. The company's 2022 income statement showed a depreciation expense of $338,000. What was the company's net capital spending for 2022?On January 1, 2024, the Marjlee Company began construction of an office building to be used as its corporate headquarters. The building was completed early in 2025. Construction expenditures for 2024, which were incurred evenly throughout the year, totaled $9, 300, 000. Marjlee had the following debt obligations which were outstanding during all of 2024: Construction loan, 11% $ 2,325,000 Long-term note, 10% 3,100,000 Long-term note, 7% 6,200,000 Required: Calculate the amount of interest capitalized in 2024 for the building using the specific interest method.Data for 19 and 20 Ahn Jung Ha Company provided the following information for 2020: Current asset, Jan 1- P240,000; Property, Plant and Equipment, Jan 1- P1,600,000; Non-current liabilities- P580,000; Property, Plant and Equipment, Dec 31-P1,700,000; Current liabilities- P130,000. All assets are reported at year-end. Working capital of P90,000 remained unchanged. Net income for 2021 was P60,000. No dividend was declared during the year and there were no other changes in the shareholders' equity. 19. How much is the amount of current assets on Dec. 31, 2020? A. P40,000 B. P90,000 C. P130,000 D. P220,000 20. How much is the shareholders' equity on Dec. 31, 2020? A. P1,050,000 B. P1,080,000 C. P1,110,000 D. P1,210,000
- On January 1, 2024, the Marjlee Company began construction of an office building to be used as its corporate headquarters. The building was completed early in 2025. Construction expenditures for 2024, which were incurred evenly throughout the year, totaled $5,400,000. Marjlee had the following debt obligations which were outstanding during all of 2024: Construction loan, 12% $ 1,350,000 Long-term note, 11% 1,800,000 Long-term note, 8% 3,600,000 1. Calculate the amount of interest capitalized in 2024 for the building using the specific interest method.For the year ended December 31, 2024, Fidelity Engineering reported pretax accounting income of $1,000,000. Selected information for 2024 from Fidelity's records follows: Interest income on municipal governmental bonds $ 56,000 Depreciation claimed on the 2024 tax return in excess of depreciation on the income statement Carrying amount of depreciable assets in excess of their tax basis at year-end 80,000 136,000 Warranty expense reported on the income statement 38,000 28,000 Actual warranty expenditures in 2024 Fidelity's income tax rate is 25%. At January 1, 2024, Fidelity's records indicated balances of zero and $14,000 in its deferred tax asset and deferred tax liability accounts, respectively. Required: 1. Determine the amounts necessary to record income taxes for 2024, and prepare the appropriate journal entry. 2. What is Fidelity's 2024 net income? Complete this question by entering your answers in the tabs below. Required 1 Calculation General Journal Required 2 Determine the…On January 1, 2018, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2019. Expenditures on the project were as follows: January 1, 2018 September 1, 2018 December 31, 2018 $340,000 $510, 000 $510,000 $510,000 $340,000 March 31, 2019 September 3e, 2019 Dreamworld had $7,000,000 in 14% bonds outstanding through both years. Dreamworld's average accumulated expenditures for 2018 was:
