COLLEGE ACCOUNTING (LL)W/ACCESS>CUSTOM<
4th Edition
ISBN: 9781260255157
Author: Haddock
Publisher: MCG CUSTOM
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Chapter 2, Problem 2.4SRE
To determine
Identify the correct option by calculating the amount of owners’ equity by using
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A company has $120,000 in current liabilities and $200,000 in noncurrent
liabilities. What would the total amount of the company's liabilities be?
O A. $160,000
O B. $200,000
C. $320,000
D. $80,000
SUBMIT
Young Corporation has Current Assets of
$125,000, Current Liabilities of $50,000,
Long-Term Liabilities of $25,000 and
Total Assets of $300,000. What is the
working capital of Young Corporation?
a.$150,000
b.$425,000
c.$500,000
d.$75,000
Balance Sheet You are evaluating the balance sheet for Cypress Corporation. From the balance sheet you find the following balances:
Cash and marketable securities = $670,000, Accounts receivable = $870,000, Inventory = $570,000, Accrued wages and taxes =
$111,000, Accounts payable = $207,000, and Notes payable = $1,070,000. What is Cypress's net working capital?
Multiple Choice
$1,388,000
O $2,110,000
$722,000
O $3,498,000
Chapter 2 Solutions
COLLEGE ACCOUNTING (LL)W/ACCESS>CUSTOM<
Ch. 2 - What is a business transaction?Ch. 2 - Prob. 1.2SRQCh. 2 - Prob. 1.3SRQCh. 2 - Prob. 1.4SRECh. 2 - Prob. 1.5SRECh. 2 - Prob. 1.6SRACh. 2 - Prob. 2.1SRQCh. 2 - Prob. 2.2SRQCh. 2 - What information is included in the financial...Ch. 2 - Prob. 2.4SRE
Ch. 2 - Prob. 2.5SRECh. 2 - Prob. 2.6SRACh. 2 - Prob. 1CSRCh. 2 - Prob. 2CSRCh. 2 - Prob. 3CSRCh. 2 - Prob. 4CSRCh. 2 - Prob. 5CSRCh. 2 - Prob. 1DQCh. 2 - Prob. 2DQCh. 2 - Prob. 3DQCh. 2 - Prob. 4DQCh. 2 - Describe the effects of each of the following...Ch. 2 - What is the fundamental accounting equation?Ch. 2 - Prob. 7DQCh. 2 - Prob. 8DQCh. 2 - Prob. 9DQCh. 2 - Prob. 10DQCh. 2 - Prob. 11DQCh. 2 - Prob. 12DQCh. 2 - Prob. 1ECh. 2 - Prob. 2ECh. 2 - Prob. 3ECh. 2 - Prob. 4ECh. 2 - Prob. 5ECh. 2 - Computing net income or net loss. The Computer...Ch. 2 - Prob. 7ECh. 2 - Prob. 8ECh. 2 - Prob. 9ECh. 2 - Preparing a statement of owners equity and a...Ch. 2 - Analyzing the effects of transactions on the...Ch. 2 - Prob. 2PACh. 2 - Prob. 3PACh. 2 - The following equation shows the transactions of...Ch. 2 - Prob. 1PBCh. 2 - Prob. 2PBCh. 2 - Prob. 3PBCh. 2 - Prob. 4PBCh. 2 - The following account balances are for William...Ch. 2 - Richard Harris opened a gym and fitness studio...Ch. 2 - Prob. 1MFCh. 2 - Prob. 2MFCh. 2 - Prob. 3MFCh. 2 - How does an accounting system help managers...Ch. 2 - Prob. 1ED
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- The equity of Alliance Company is $170,000 and the total liabilities are $90,000. The total assets are OA. $340,000 B. $80,000 C. $260,000 D. $180,000arrow_forwardA corporation has $91,000 in total assets, $30, 500 in total liabilities, and a $18,600 credit balance in retained earnings. What is the balance in the contributed capital accounts? Multiple Choice $79, 100 $49, 100 $60,500 $41,900arrow_forwardThe following information is given: Current liabilities Non-Current liabilities Owner's Equity Current Assets What is the total non-current asset? 100.000 150.000 Twice as much as total liabilities 40% of total assetsarrow_forward
- K If the owner's equity is $135,000 and total liabilities are $90,000, then total assets would be OA. $90,000 OB. $225,000 OC. $45,000 OD. $135,000arrow_forwardAssets= 300% of total liabilities Liabilities= 50% of Owner's Equity Owner's Equity= 80% of total Assets Difference between Owner's Equity and Liabilities = 2,000,000 pesos How much is the total liabilities?arrow_forwardDynasty Company has current assets of $50,000 and long-term assets of $45,000. Its totalliabilities equal $35,000. Stockholders’ equity is:a. $95,000.b. $60,000.c. $130,000.d. $80,000.arrow_forward
- Takaful company has the following information: Earned contributions SR 500 Net claim incurred SR 100 Cash SR 50 Short-term investment SR 150 Average assets SR 1500 Total expenses SR 200 Net income SR 100 Gross contributions SR 600 Net contributions SR 550 What is expense ratio? а. 40% b. 30% С. 36.3% d. 50%arrow_forwardThe current ratio of Company X is 3.0. Company X has working capital of $20,000. Total current assets for Company X are: A. $6,667 B. $10,000 C. $30,000 D. $60,000'arrow_forwardAssuming a business entity has a total asset of 25,000,000 its total liabilities is 1/3 of the said amount. How much is the equity? 16,000,000,00 16,666,666.67 13,333,333.33 13,000,000.00arrow_forward
- a. Total assets of Charter Company equal $760,000 and its equity is $450,000. What is the amount of its liabilities?arrow_forwardFirm O has accounts receivable of $35,000, cash of $16,600, property, plant, and equipment of $340,000, merchandise Inventory of $44,000, accounts payable of $22,300, other accrued liabilities of $7,700, common stock of $270,000, and retained earnings of $135,600. Required: Calculate Firm N's working capital and current ratio. Working Capital 1 Current Ratio = Working Capital Current Ratio 0arrow_forwardWhat is the owner's equity?A. $ 461,000.00B. $ 360,137.00C. $ 645,655.32D. $ 375,137.00arrow_forward
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