The following items are taken from the financial statements of the Ivanhoe Service for the year ending December 31, 2021:Accounts payableAccounts receivableAccumulated depreciation - equipmentAdvertising expenseCashCommon stockDividendsDepreciation expenseInsurance expenseNote payable, due 6/30/22Prepaid insurance (12-month policy)Rent expenseRetained earnings (1/1/21)Salaries and wages expenseService revenueSuppliesSupplies expenseEquipment$ 17600O $41500O $25800O $31600O $3560011000286002140014800427001380012300290070000580016800653003160013060040005900214500What are total current assets at December 31, 2021?

A current asset, in accounting sense, means any asset that can be expected to be consumed, sold, or…

Answered: total current assets

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Common size analysis of the balance sheet expresses each item as a percentage of the _____________. Total Asset Revenue Base year figure Current asset
11. Which type of financial assets are purchased only with the intent of selling them in the near future? DAFVTPL financial assets ⒸBFVTOCI Financial assets C. Amortized Cost financial assets OD. Investment accounted for using the equity method
Information from the financial statements of the Heir Jordan Corporation are shown below. Prepare the pro forma financial statements and calculate EFN, assuming a 15 percent increase in sales, no new external debt or equity financing, and a constant payout ratio. Sales Costs Cash Accounts receivable Inventory Net plant and equipment Accounts payable Notes payable Long-term debt Common stock Retained earnings Dividends Net income Increase in sales Tax rate LA LA LA LA LA LA LA LA LA LA LA LA LA $ $ $ $ $ $ $ $ $ 46,000 37,600 2,950 4,100 6,400 41,300 2,400 5,400 28,000 15,000 3,950 2,880 6,552 15% 21%
Multiple choice
in horizontal analysis explain the results of total current asset and non current assets and what its impact of the results to the company
Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Depreciation Net plant and equipment Other long-term assets Total Total assets Net sales (all credit) Less: Cost of goods sold Gross profits Less: Other operating expenses Earnings per share (EPS) Dividends per share (DPS) Book value per share (BVPS) Market value (price) per share (MVPS) 2821 $ 75 115 200 $390 ROA ROE $580 110 $470 50 $520 $910 Less: Depreciation Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained earnings Per (common) share data: 96 96 Earnings before interest, taxes, depreciation, and amortization (EBITDA) 2020 $ 65 110 198 $365 DuPont Analysis times times $471 100 $371 LAK OF EGYPT MARINA, INC. Income Statement for Years Ending December 31, 2021 and 2020…
Capital expenditures incurred subsequent to purchase of property assets increase total assets. T/F
Brad's BBQ reported sales of $660,000 and net income of $41,000. Brad's also reported ending total assets of $491,000 and beginning total assets of $384,000. Required: Calculate the return on assets, the profit margin, and the asset turnover ratio for Brad's BBQ. Return on Assets Choose Numerator Choose Denominator Return on Assets Return on assets %3D Profit Margin Choose Numerator Choose Denominator Profit Margin Profit margin %3D II II
Identify the main difference between (a) plant assets and current assets, (b) plant assets and inventory, and (c) plant assets and long-term investments.
If given the following information: Current Assets - 2073Current Liabilities - 1634Cash - 1182Inventory - 316Net working capital - 934Total Assets - 3873Average Daily Operating Costs - 344 Find the Current Ratio.
Determine the total net free assets. *
All of the following are current assets except : C . inventories.

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS