What is the amount of current assets, assuming the accountsAccounts Payable$12,000Buildings70,000Cash8,000Accounts Recelvable7,000Seles Tex Payable5,000Retained Earnings47,000Supplies2,000Notes Payable (due in 18months)Interest Payable35,0003,000Common Stock45,000

Name: What is the amount of current assets, assuming the accountsAccounts P
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: What is the amount of current assets, assuming the accountsAccounts Payable$12,000Buildings70,000Cash8,000Accounts Recelvable7,000Seles Tex Payable5,000Retained Earnings47,000Supplies2,000Notes Payable (due in 18months)Interest Payable35,0003,000Com

Current assets are those assets which are readily converted into cash within a short period of 1…

Business

Accounting

What is the amount of current assets, assuming the acce Accounts Payable $12,000 Buildings 70.000 Cash 8,000 Accounts Recolvable 7,000 Seles Tex Payable 5,000 Retained Earnings 47,000 Supplies 2,000 Notes Payable (due in 18 months) Interest Paynble 35,000 3,000 Common Stock 45,000

What is the amount of current assets, assuming the acce Accounts Payable $12,000 Buildings 70.000 Cash 8,000 Accounts Recolvable 7,000 Seles Tex Payable 5,000 Retained Earnings 47,000 Supplies 2,000 Notes Payable (due in 18 months) Interest Paynble 35,000 3,000 Common Stock 45,000

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

Data pertaining to the current position of Forte Company follow:Cash $412,500Marketable securities 187,500Accounts and notes receivable (net) 300,000Inventories 700,000Prepaid expenses 50,000Accounts payable 200,000Notes payable (short-term) 250,000Accrued expenses 300,000 Instructions1. Compute (a) the working capital, (b) the current ratio, and (c) the quick ratio. Round ratios in parts b through j to one decimal place.2. List the following captions on a sheet of paper:Transaction Working Capital Current Ratio Quick Ratio Compute the working capital, the…
Balance Sheet as of December 31, 2021 (Thousands of Dollars) Cash $ 1,080 Accounts payable $ 4,320 Receivables 6,480 Accruals 2,880 Inventories 9,000 Line of credit Total current assets $16,560 Notes payable 2,100 Net fixed assets 12,600 Total current liabilities $ 9,300 Mortgage bonds 3,500 Common stock 3,500 Retained earnings 12,860 Total assets $29,160 Total liabilities and equity $29,160 Income Statement for December 31, 2021 (Thousands of Dollars) Sales $36,000 Operating costs 34,000 Earnings before interest and taxes $ 2,000 Interest 160 Pre-tax earnings $ 1,840 Taxes (25%) 460 Net income $ 1,380 Dividends 552 Addition to retained earnings 2$ 828
The following data apply to the next six problems. Consider Fisher & Company's financial data as follows (unit: millions of dollars except ratio figures):Cash and marketable securities $100Fixed assets $280Sales $1,200Net income $358Inventory $180Current ratio 3.2Average collection period 45 daysAverage common equity $500 Calculate the amount of the long-term debt.(a) $134 (b) $500(c) $74 (d) $208
Peoples Bank Ltd.Balance sheetAs at 31/03/2021Assets $(000) Liab. & Equity $(000)Cash 50,000 Payables 50,000Short term Invest 50,000 short term deposits 500,000Long term Invest. 180,000 long term deposits. 180,000Loans 550,000 Long-term bonds 50,000Other 50,000 Equity 100,000Total 880,000 880,000 The long-term investment portfolio comprises shares in an associate company (25%), azero-coupon bond (25%), government fixed rate bonds (40) and shares in publicly tradedcompanies (10%).The loan portfolio is composed as follows: 10% residential mortgages, 50% consumerand 40% commercial. The loan portfolio has a 5% delinquency, and the average return is8%. Fixed rate loans are 60% and floating rate 40%.Deposits are primarily short term. The renewal rate is declining and expected to continueinto the medium term. The average deposit rate is 4%.Interest rates are expected to rise in the short term for both, loans and deposits. A. Based on the balance sheet and the information above, identify…
.
nterpret the results of the debt to equity ratio and how the company has managed debt over the last two years. Balance Sheet 2018 2019 Cash $63,000 $201,000 Accounts Receivable 199,000 305,000 Marketable Securities 81,000 42,000 Inventories 441,000 455,000 Prepaids 5,000 9,000 Total Current Assets 789,000 1,012,000 Property, Plant, and Equipment, net 858,000 858,000 Total Assets $1,647,000 $1,870,000 Account Payable $150,000 $100,000 Accruals 101,000 95,000 Total Current Liabilities $251,000 $195,000 Bonds Payable 405,000 575,000 Total Liabilities 656,000 770,000 Common Stocks 700,000 700,000 Retained Earnings 291,000 400,000 Total Stockholders’ Equity 991,000 1,100,000 Total Liabilities & Equity $1,647,000 $1,870,000 Income Statement…
Cash $ 30,000 Marketable securities $ 25,000 Accounts Receivable Inventory Total current Assets Net Fixed Assets Total Assets Accounts Payable $ 120,000 Short-term Notes Payable Accrued Liabilities $ 20,000 Total Current Liabilities Long-Term Debt Total Debt Stockholder's Equity $ 600,000 Total Liabilites and Equity Assumptions: Sales = $1,825,000 Gross profit margin = 30% Inventory Turnover = 7.0 365 days per year DSO = 40 days Current ratio = 1.40 Total Asset Turnover = 1.25 Complete the Balance Sheet below based on the given information
Peoples Bank Ltd.Balance sheetAs at 31/03/2021Assets $(000) Liab. & Equity $(000)Cash 50,000 Payables 50,000Short term Invest 50,000 short term deposits 500,000Long term Invest. 180,000 long term deposits. 180,000Loans 550,000 Long-term bonds 50,000Other 50,000 Equity 100,000Total 880,000 880,000 The long-term investment portfolio comprises shares in an associate company (25%), azero-coupon bond (25%), government fixed rate bonds (40) and shares in publicly tradedcompanies (10%).The loan portfolio is composed as follows: 10% residential mortgages, 50% consumerand 40% commercial. The loan portfolio has a 5% delinquency, and the average return is8%. Fixed rate loans are 60% and floating rate 40%.Deposits are primarily short term. The renewal rate is declining and expected to continueinto the medium term. The average deposit rate is 4%.Interest rates are expected to rise in the short term for both, loans and deposits. A. Recommend to management two strategies to reduce each risk B.…
Given the following information, compute the current and quick ratios: Cash $ 100,000 Accounts receivable 335,000 Inventory 487,000 Current liabilities 463,000 Long-term debt 619,000 Equity 621,000 Round your answers to two decimal places. Current ratio: :1 Quick ratio: :1