The balance sheet of United Studios at December 31 showed assets of $30,000 and shareholders equity of $20,000. What were the liabilities at December 31? a. $30,000 b. $10,000 c. $20,000 d. $50.000
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- Use the following information for the next three questions:The ledger of COLTISH UNDISCIPLINED Co. in 20x1 includes the following:Jan. 1, 20x1 Dec. 31, 20x1Current assets 1,200,000 ? Noncurrent assets 4,000,000 ? Current liabilities 900,000 1,000,000Noncurrent liabilities ? 3,000,000 Additional information:- COLTISH’s working capital as of December 31, 20x1 is twice as much as the working capital as of January 1, 20x1. - Total equity as of January 1, 20x1 is ₱1,700,000. Profit for the year is ₱2,400,000 while dividends declared amounted to ₱1,000,000. There were no other changes in equity during the year.How much is the total noncurrent liabilities as of January 1, 20x1?a. 2,600,000b. 2,800,000c. 3,200,000d. 3,400,000Use the following information for the next three questions:The ledger of COLTISH UNDISCIPLINED Co. in 20x1 includes the following:Jan. 1, 20x1 Dec. 31, 20x1Current assets 1,200,000 ?Noncurrent assets 4,000,000 ?Current liabilities 900,000 1,000,000Noncurrent liabilities ? 3,000,000 Additional information:- COLTISH’s working capital as of December 31, 20x1 is twice as much as the working capital as of January 1, 20x1.- Total equity as of January 1, 20x1 is ₱1,700,000. Profit for the year is ₱2,400,000 while dividends declared amounted to ₱1,000,000. There were no other changes in equity during the year. How much is the total current assets as of December 31, 20x1?a. 1,600,000b. 800,000c. 300,000d. 2,200,00011. Below are the accounts taken from MM Company, December 31, 2019: Assets - 100,000, Current assets - 40,000, Total Equity - 60,000, Current liability - 10,000 How much is the noncurrent liability? A. 50,000 B. 40,000 C. 30,000 D. 20,000
- The company had the following final balances after the Arst year af aperations: assets, $45,000, stockhalder equity, $25,000; dividends, $3,000; and net income, $10,000. What is the amount of the tompany liabilities? A $13,000. B $7,000. C $40,000. D $65,000.If total assets are $20,000 and total liabilities are $12,000, the amount of stockholders’ equity is: A. $32,000. B. $(32,000). C. $(8000). D. $8,000.Sun City Corporation's end-of-year balance sheet consisted of the following amounts: Cash Property, plant, and equipment Capital stock Retained earnings $ 25,000 70,000 100,000 Ob. $200,000 Oc. $165,000 Od. $100,000 7 Accounts receivable Long-term debt Accounts payable Inventory What amount should Sun City report on its balance sheet for total assets? Oa. $95,000 $70,000 40,000 20,000 35,000
- The equity ofAlliance Company is $100,000 and the total liabilities are $90,000. The total assets are O A. $190,000 O B. $10,000 O C. $200,000 D. $180,000What were the liabilities at December 31 on these general accounting question?Coastal's balance sheet for a recent year revealed the following information Current assets Noncurrent assets Noncurrent liabilities $ 820,000 550,000 320,000 480,000 Stockholders' equity Required: Determine the amount of working capital reported in the balance sheet. Working capital
- Assume Metro Corporation had a net income of $2,200 for the year ending December 31. Its beginning and ending total assets were $35,500 and $19,000, respectively. Calculate Metro's return on assets (ROA). (Round your percentage answer to two decimal places.) A. 11.58% B. 4.04% C. 8.07% D. 6.20%Subject: acountingFinancial Accounting