The following information is taken from Gandalf, Pty, Ltd. book: Accounts Payable $600 Accounts Receivable $5,200 Cash $27,000 Loan Payable in 6 months $4,400 Revenue received in advance $12,000 Bank Loan – Mortgage $30,000 Accumulated depreciation $7,800 Inventory $10,200 Buildings $17,600 Supplies $1,600 What is the most likely amount for the company's net assets? Select one: a. $41,600. b. $6,800. c. $14,600. d. $26,600. e. $18,800.
The following information is taken from Gandalf, Pty, Ltd. book: Accounts Payable $600 Accounts Receivable $5,200 Cash $27,000 Loan Payable in 6 months $4,400 Revenue received in advance $12,000 Bank Loan – Mortgage $30,000 Accumulated depreciation $7,800 Inventory $10,200 Buildings $17,600 Supplies $1,600 What is the most likely amount for the company's net assets? Select one: a. $41,600. b. $6,800. c. $14,600. d. $26,600. e. $18,800.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The following information is taken from Gandalf, Pty, Ltd. book:
Accounts Payable |
$600 |
|
$5,200 |
Cash |
$27,000 |
Loan Payable in 6 months |
$4,400 |
Revenue received in advance |
$12,000 |
Bank Loan – Mortgage |
$30,000 |
|
$7,800 |
Inventory |
$10,200 |
Buildings |
$17,600 |
Supplies |
$1,600 |
What is the most likely amount for the company's net assets?
Select one:
a.
$41,600.
b.
$6,800.
c.
$14,600.
d.
$26,600.
e.
$18,800.
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