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Business Accounting Loose Leaf for Financial Accounting: Information for Decisions

Balance sheet is the statement which makes a record of all assets and liabilities on a particular date. Balance sheet shows value of assets and liabilities on closing date of year. Income statement is the statement which includes the total revenue of the year and the total expenses of the year it helps us to find the net income or loss of the year. To Calculate: Amount and percent of cash and other current assets on December 31, 2016. Amount and percent of cash and other current assets on December 31, 2016 is calculated as follows: Cash and cash equivalents= 32,111,442 Total of balance sheet= 262,174,324 Cash and cash equivalents percent= 32 , 111 , 442 262 , 174 , 324 × 100 = 12.25% Other current assets= 141 , 429 , 7 0 4 − 32 , 111 , 442 = 20,681,738 Other current assets percent= 2 0 , 681 , 738 262 , 174 , 324 × 100 = 7.89% Cash and cash equivalents in 2015= 22,636,744 Total of balance sheet in 2015= 242,179,521 Cash and cash equivalents percent in 2015= 22 , 636 , 744 242 , 179 , 521 × 100 = 9.35% Cash is almost 9.35% in year 2015 but its percent increases in year 2016 are almost 12%.

Balance sheet is the statement which makes a record of all assets and liabilities on a particular date. Balance sheet shows value of assets and liabilities on closing date of year. Income statement is the statement which includes the total revenue of the year and the total expenses of the year it helps us to find the net income or loss of the year. To Calculate: Amount and percent of cash and other current assets on December 31, 2016. Amount and percent of cash and other current assets on December 31, 2016 is calculated as follows: Cash and cash equivalents= 32,111,442 Total of balance sheet= 262,174,324 Cash and cash equivalents percent= 32 , 111 , 442 262 , 174 , 324 × 100 = 12.25% Other current assets= 141 , 429 , 7 0 4 − 32 , 111 , 442 = 20,681,738 Other current assets percent= 2 0 , 681 , 738 262 , 174 , 324 × 100 = 7.89% Cash and cash equivalents in 2015= 22,636,744 Total of balance sheet in 2015= 242,179,521 Cash and cash equivalents percent in 2015= 22 , 636 , 744 242 , 179 , 521 × 100 = 9.35% Cash is almost 9.35% in year 2015 but its percent increases in year 2016 are almost 12%.

Solution Summary: The author explains balance sheet, income statement, and cash and other current assets on December 31, 2016. Cash is almost 9.35% in 2015, but its percent increases in 2016 are almost 12%

Loose Leaf for Financial Accounting: Information for Decisions

Loose Leaf for Financial Accounting: Information for Decisions

9th Edition

ISBN: 9781260158762

Author: John J Wild

Publisher: McGraw-Hill Education

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Chapter 6, Problem 11DQ

Chapter 6, Problem 13DQ

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Chapter 6 Solutions

Loose Leaf for Financial Accounting: Information for Decisions

Ch. 6 - List the seven braod principles of internal...Ch. 6 - Prob. 2DQ Ch. 6 - Prob. 3DQ Ch. 6 - Prob. 4DQ Ch. 6 - Prob. 5DQ Ch. 6 - Prob. 6DQ Ch. 6 - Prob. 7DQ Ch. 6 - Prob. 8DQ Ch. 6 - Prob. 9DQ Ch. 6 - Prob. 10DQ

Ch. 6 - Refer to Google’s financial statements in Appendix...Ch. 6 - Prob. 12DQ Ch. 6 - Prob. 13DQ Ch. 6 - Prob. 1QS Ch. 6 - Prob. 2QS Ch. 6 - Prob. 3QS Ch. 6 - Prob. 4QS Ch. 6 - Prob. 5QS Ch. 6 - Prob. 6QS Ch. 6 - Prob. 7QS Ch. 6 - Prob. 8QS Ch. 6 - Prob. 9QS Ch. 6 - Prob. 10QS Ch. 6 - Prob. 11QS Ch. 6 - Prob. 1E Ch. 6 - Prob. 2E Ch. 6 - Prob. 3E Ch. 6 - Prob. 4E Ch. 6 - Prob. 5E Ch. 6 - Prob. 6E Ch. 6 - Prob. 7E Ch. 6 - Prob. 8E Ch. 6 - Prob. 9E Ch. 6 - Prob. 10E Ch. 6 - Prob. 11E Ch. 6 - Prob. 12E Ch. 6 - Prob. 13E Ch. 6 - Prob. 14E Ch. 6 - Prob. 15E Ch. 6 - Prob. 1PSA Ch. 6 - Prob. 2PSA Ch. 6 - Prob. 3PSA Ch. 6 - Prob. 4PSA Ch. 6 - Prob. 5PSA Ch. 6 - Prob. 1PSB Ch. 6 - Prob. 2PSB Ch. 6 - Prob. 3PSB Ch. 6 - Prob. 4PSB Ch. 6 - Prob. 5PSB Ch. 6 - Prob. 6SP Ch. 6 - Prob. 1GLP Ch. 6 - Prob. 1FSA Ch. 6 - Prob. 2FSA Ch. 6 - Prob. 3FSA Ch. 6 - Prob. 1BTN Ch. 6 - Assume you are a business consultant. The owner of...Ch. 6 - Prob. 4BTN Ch. 6 - Review the opening feature of this chapter that...Ch. 6 - Prob. 6BTN

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