General accounting Use the accounting equation to computethe missing financial statement amounts.Company Assets1Liabilities Equity$90,000 (A)$47,5002(B)$32,500 $85,0003$115,000 $35,000 (C)

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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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MC.03.083.Algo Wu Systems has the following balance sheet. Assume that all current assets are used in operations. How much net operating working capital does the firm have? Cash Accounts receivable Inventory Current assets Net fixed assets Total assets O a. $400 b. $1,770 O c. $2,200 d. $470 e. $830 $ 70 Accounts payable 720 Accruals 510 $1,300 1,000 Notes payable Current liabilities Long-term debt Common equity Retained earnings $2,300 Total liab. & equity $ 250 220 430 Question 3 of 40 $ 900 640 260 500 $2,300
Consider the following company’s balance sheet and income statement Return on assets. Return on equity.
What is value of total assets on these general accounting question?
Question: General Accounting
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Fill in the Balance Sheet. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Sales $6544 Total Assets Turnover Current Ratio Quick Ratio 0.36 Current Liabilities to Stockholders Equity Average Collection Period (Use End of Year 10 0.8 AR) Total Debt Ratio Cash Accounts Receivables Inventory Assets Total Current Asset Total Net Fixed Assets Total Assets 000 4.6 3.7 3 1422.61 Balance Sheet Liabilities & Equity Accounts Payable Total Current Liabilities Long-Term Debt Total Liabilities Total Shareholders Equity Total Liabilities and Equity 102.43 1035.66 1138.09 284.52
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Use the accounting equation to compute the missing financial statement amounts. Company Assets 1 Liabilities Equity $90,000 (A) $47,500 2 (B) $32,500 $85,000 3 $115,000 $35,000 (C)