Total Assets? The owners' equity of PureAir, Inc. is dollar 600,000on December 31, 2020,and is equal to two-fifth oftotal liabilities. What isthe amount of total assets?

Explanation of Owner's EquityOwner's equity represents the residual interest in the assets of a…

Answered: The owners' equity of Pure Air, Inc. is…

Financial Management: Theory & Practice

16th Edition

ISBN:9781337909730

Author:Brigham

Publisher:Brigham

Chapter2: Financial Statements, Cash Flow,and Taxes

Section: Chapter Questions

Problem 16P

See similar textbooks

Similar questions

Jamison Corp.'s balance sheet accounts as of December 31, 2021 and 2020 and information relating to 2021 activities are presented below. December 31, 2021 2020 AssetsCash $ 440,000 $ 200,000Short-term investments 600,000 —Accounts receivable (net) 1,020,000 1,020,000Inventory 1,380,000 1,200,000Long-term investments 400,000 600,000Plant assets 3,400,000 2,000,000Accumulated depreciation (900,000)…
Suppose the Crane Ltd's 2020 financial statements contain the following selected data (in millions). Current assets Total assets Current liabilities Total liabilities NT$3,536.0 31,408.0 3,016.0 16,640.0 Compute the following values. Interest expense Income taxes Net income NT$520.0 (a) Debt to assets ratio. (Round to O decimal places, e.g. 62%.) 1,976.0 4,590.0 (b) Times interest earned. (Round to 2 decimal places, e.g. 6.25.) % times
The following information is available for J Ltd. for the year ended 2021: Net working capital Long-term debt Total assets Fixed assets Calculate the amount of the total liabilities. $6,880 $4,970 $2,480 $460 $4,970 $8,390 $5,910 $6,990
The income statement of Armenia Corporation for 2020 included the following items: Interest income P2,101,000; Salaries expense 1,650,000; Insurance expense 277,200. The following balances have been excerpted from Armenia Corporation's statements of financial position for the year ended 12/31/2019 and 12/31/2020 respectively. Accrued interest receivable P165,000 P200,200; Accrued salaries payable 92,400 195,800; Prepaid insurance 33,000 24,200; Requirement #2: The cash paid for salaries during 2020 was Choices; P1,753,400 P1,557,600 P1,845,800 P1,546,600
Presented below is the balance sheet of Pina Corporation for the current year, 2020. PINA CORPORATIONBALANCE SHEETDECEMBER 31, 2020 Current assets $ 486,360 Current liabilities $ 381,360 Investments 641,360 Long-term liabilities 1,001,360 Property, plant, and equipment 1,721,360 Stockholders’ equity 1,771,360 Intangible assets 305,000 $3,154,080 $3,154,080 The following information is presented. 1. The current assets section includes cash $151,360, accounts receivable $171,360 less $11,360 for allowance for doubtful accounts, inventories $181,360, and unearned rent revenue $6,360. Inventory is stated on the lower-of-FIFO-cost-or-net realizable value. 2. The investments section includes the cash surrender value of a life insurance contract $41,360; investments in common stock, short-term $81,360 and long-term $271,360; and bond sinking fund $247,280. The cost and fair value of investments in common stock are the same.…
Presented below is the balance sheet of Novak Corporation for the current year, 2020. NOVAK CORPORATIONBALANCE SHEETDECEMBER 31, 2020 Current assets $ 488,570 Current liabilities $ 383,570 Investments 643,570 Long-term liabilities 1,003,570 Property, plant, and equipment 1,723,570 Stockholders’ equity 1,773,570 Intangible assets 305,000 $3,160,710 $3,160,710 The following information is presented. 1. The current assets section includes cash $153,570, accounts receivable $173,570 less $13,570 for allowance for doubtful accounts, inventories $183,570, and unearned rent revenue $8,570. Inventory is stated on the lower-of-FIFO-cost-or-net realizable value. 2. The investments section includes the cash surrender value of a life insurance contract $43,570; investments in common stock, short-term $83,570 and long-term $273,570; and bond sinking fund $242,860. The cost and fair value of investments in common stock are the…
If you are told that LSJ Company accounts payable at December 31, 2023 represents 15% of the company's total liabilities on their balance sheet…this would represent an example of what type of analysis: a. Vertical Analysis b. Horizontal Analysis c. Ratio Analysis
According to the balance sheet of Free Inc, at the end of the 2020 fiscal year, the cash balance is $200,000, account available balance is $500,000, inventory balance is $750,000; the net fixed asset is $1,500,000. On the other side, the account payable is $250,000, the accrual $40,000, the notes payable is $300,000, long-term debt is $510,000, common stock is $1,200,000, retained earnings is $650,000. The net income is $900,000; the interest payment is $45,600; the tax rate is 25%. Find ROE.a. 49%b. 31%c. 34%d. 75%
According to the balance sheet of Free Inc, at the end of the 2020 fiscal year, the cash balance is $200,000, account available balance is $500,000, inventory balance is $750,000; the net fixed asset is $1,500,000. On the other side, the account payable is $250,000, the accrual $40,000, the notes payable is $300,000, long-term debt is $510,000, common stock is $1,200,000, retained earnings is $650,000. The net income is $900,000; the interest payment is $45,600; the tax rate is 25%. If the sales is $10,000,000, what is the operating margin?b. 13.26%c. 11.45%d. 10.66%
According to the balance sheet of Free Inc, at the end of the 2020 fiscal year, the cash balance is $200,000, account available balance is $500,000, inventory balance is $750,000; the net fixed asset is $1,500,000. On the other side, the account payable is $250,000, the accrual $40,000, the notes payable is $300,000, long-term debt is $510,000, common stock is $1,200,000, retained earnings is $650,000. The net income is $500,000; the interest payment is $45,600; the tax rate is 25%. The weighted average after tax cost of capital is 9%. Please calculate the NOWC.
According to the balance sheet of Free Inc, at the end of the 2020 fiscal year, the cash balance is $200,000, account available balance is $500,000, inventory balance is $750,000; the net fixed asset is $1,500,000. On the other side, the account payable is $250,000, the accrual $40,000, the notes payable is $300,000, long-term debt is $510,000, common stock is $1,200,000, retained earnings is $650,000. The net income is $900,000; the interest payment is $45,600; the tax rate is 25%. The weighted average after tax cost of capital is 9%. what is the EVA?
Please answer this simple question

SEE MORE QUESTIONS

Recommended textbooks for you

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

SEE MORE TEXTBOOKS

The owners' equity of Pure Air, Inc. is dollar 600,000 on December 31, 2020, and is equal to two-fifth of total liabilities. What is the amount of total assets?