How much long-term debt did the firm have? Sybarix Group prepared its financial statements for 2015 based on theinformation below. The company had cash of $1,206, inventory of$14,290, and accounts receivables of $6,589. The company's net fixedassets were $42,412, and other assets were $2,822. It had accountspayable of $11,580, notes payable of $2,886, common stock of $21,800,and retained earnings of $14,368. How much long-term debt did the firmhave?a. $12,314b. $16,685c. $18,334d. $22,342

To solve this question, we need to determine the long-term debt of the Sybarix Group using the…

Answered: Sybarix Group prepared its financial…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

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Chapter1: Financial Statements And Business Decisions

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Sybarix Group prepared its financial statements for 2015 based on the information below. The company had cash of $1,206, inventory of $14,290, and accounts receivables of $6,589. The company's net fixed assets were $42,412, and other assets were $2,822. It had accounts payable of $11,580, notes payable of $2,886, common stock of $21,800, and retained earnings of $14,368. How much long-term debt did the firm have? a. $12,314 b. $16,685 c. $18,334 d. $22,342
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how much long-term debt did the firm have? general accounting
How much long term debt did the firm have? General accounting
How much long-term debt did the firm have?
How much long term debt did the firm have?
How much long-term debt did the firm have? fINANCIAL ACCOUNT
Given the following information about Sandhill Sporting Goods, Inc., construct a balance sheet for June 30, 2017. On that date the firm had cash and marketable securities of $25,135, accounts receivables of $43,758, inventory of $168,500, net fixed assets of $320,700, and other assets of $13,125. It had accounts payables of $67,855, notes payables of $36,454, long-term debt of $224,500, and common stock of $150,000. How much retained earnings did the firm have?
On June 30, 2018, Streeter Company reported the following account balances: Receivables $ 51,700 Current liabilities $ (10,400 ) Inventory 87,000 Long-term liabilities (56,000 ) Buildings (net) 83,700 Common stock (90,000 ) Equipment (net) 34,000 Retained earnings (100,000 ) Total assets $ 256,400 Total liabilities and equities $ (256,400 ) On June 30, 2018, Princeton Company paid $309,500 cash for all assets and liabilities of Streeter, which will cease to exist as a separate entity. In connection with the acquisition, Princeton paid $17,300 in legal fees. Princeton also agreed to pay $61,100 to the former owners of Streeter contingent on meeting certain revenue goals during 2019. Princeton estimated the present value of its probability adjusted expected payment for the contingency at $20,300. In determining its offer, Princeton noted the following pertaining to Streeter: It holds a building with a fair value…
Consider the following financial data for Nguyen Industries: Statement of Financial Position as of December 31, 2018 Cash $ 232,500 Accounts payable $ 86,500 Accts. receivable 357,500 Short-term bank note 254,000 Inventories 150,500 Accrued wages & taxes 80,000 Total current assets $ 740,500 Total current liabilities $ 420,500 Long-term debt 566,000 Net fixed assets 774,500 Common equity 528,500 Total assets $ 1,515,000 Total liab. & equity $ 1,515,000 Profit & Loss Statement for 2018 Industry Average Ratios Net sales $ 1,894,000 Current ratio 1.4× Cost of goods sold 1,382,500 Quick ratio 1.0× Gross profit $ 511,500 Days sales outstanding 63 days Operating expenses 373,000 Inventory turnover 9.5× EBIT $ 138,500 Total asset turnover 1.5× Interest expense 64,000 Net…
The following selected accounts from the Culver Corporation’s general ledger are presented below for the year ended December 31, 2017: Advertising expense $ 61,600 Interest revenue $ 33,600 Common stock 280,000 Inventory 75,040 Cost of goods sold 1,215,200 Rent revenue 26,880 Depreciation expense 140,000 Retained earnings 599,200 Dividends 168,000 Salaries and wages expense 756,000 Freight-out 28,000 Sales discounts 9,520 Income tax expense 78,400 Sales returns and allowances 45,920 Insurance expense 16,800 Sales revenue 2,688,000 Interest expense 78,400 Prepare a multiple-step income statement. CULVER CORPORATIONIncome Statementchoose the accounting period select an opening name for section one enter an income statement item $enter…

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