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The assets of J&R Associates consist entirely'of current assets and net plant and Problem 1 (Statement of Financiąl Position)· equipment. The firm has total assets of P2.5 million, and net plant and equipment of P2 million. It has notes payable of P150.000, long-term debt of P750,000, and total common equity of P1.5 million. The firm does have accounts payable and accruals on its statement of financial position, The firm only finances with debt and common equity, so it has no preferred stock on its statement of financial position. Required: What is the amount of total liabilities and equity that appears on the firm's statement of financial position?. b.. What is the balance of current assets on the firm's statement of financial position?- What is the balance of current liabilities on the firm's statement of financial position? . d. What is the amount of accounts payable, and accruals on its statement of financial position? What is the firm's net working capital? f. What is the firm's net operating working capital? а. с. е.

The assets of J&R Associates consist entirely'of current assets and net plant and Problem 1 (Statement of Financiąl Position)· equipment. The firm has total assets of P2.5 million, and net plant and equipment of P2 million. It has notes payable of P150.000, long-term debt of P750,000, and total common equity of P1.5 million. The firm does have accounts payable and accruals on its statement of financial position, The firm only finances with debt and common equity, so it has no preferred stock on its statement of financial position. Required: What is the amount of total liabilities and equity that appears on the firm's statement of financial position?. b.. What is the balance of current assets on the firm's statement of financial position?- What is the balance of current liabilities on the firm's statement of financial position? . d. What is the amount of accounts payable, and accruals on its statement of financial position? What is the firm's net working capital? f. What is the firm's net operating working capital? а. с. е.

FINANCIAL ACCOUNTING
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 assets of J&R Associates consist entirely of current assets and net plant and Problem 1 (Statement of Financiąl Position) equipment. The firm has total assets of P2.5 million, and net plant and equipment of P2 million. It has notes payable of P150.000, long-term debt of P/50,000, and total common équity of P1.5 million.. The firm does have accounts päyable and accruals on its statement of financial position The firm only finances wWith debt and common equity, so it has' no preferred stock on its statement of financial position. Required: What is the amount of total liabilities and equity that appears on the firm's statement of financial position?. b.. What is the balance of current assets on the firm's statement of financial position?- What is the balance of current liabilities on the firm's statement of financial position? d. What is the amount of accounts payable, and accruals on its statement of financial position? What is the firm's net working capital? What is the firm's net operating working capital? а. с. е. f.
Transcribed Image Text:The assets of J&R Associates consist entirely of current assets and net plant and Problem 1 (Statement of Financiąl Position) equipment. The firm has total assets of P2.5 million, and net plant and equipment of P2 million. It has notes payable of P150.000, long-term debt of P/50,000, and total common équity of P1.5 million.. The firm does have accounts päyable and accruals on its statement of financial position The firm only finances wWith debt and common equity, so it has' no preferred stock on its statement of financial position. Required: What is the amount of total liabilities and equity that appears on the firm's statement of financial position?. b.. What is the balance of current assets on the firm's statement of financial position?- What is the balance of current liabilities on the firm's statement of financial position? d. What is the amount of accounts payable, and accruals on its statement of financial position? What is the firm's net working capital? What is the firm's net operating working capital? а. с. е. f.
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