AssetsCurrent assets:CashMarketable securitiesAccounts receivable (net)InventoriesOtherTotal current assetsProperty and equipment:LandBuilding and equipment (net)Total long-term assetsTotal assets1. Calculate the average total assets.20X120X2$2,875,000 $2,580,000800,000 700,000939,776 690,000490,000260,00093,00074,261$5,197,776 $4,304,261$1,575,000 $1,067,3151,348,800 1,150,000$2,923,800 $2,217,315$8,121,576 $6,521,576

Formula: Average Total Assets = ( 20x1 assets value + 20x2 assets value ) / 2

Assets Current assets: Cash Marketable securities Accounts receivable (net) Inventories Other Total current assets Property and equipment: 20x1 20X2 $2,875,000 $2,580,000 800,000 700,000 939,776 690,000 490,000 260,000 93,000 74,261 $5,197,776 $4,304,261

Assets Current assets: Cash Marketable securities Accounts receivable (net) Inventories Other Total current assets Property and equipment: 20x1 20X2 $2,875,000 $2,580,000 800,000 700,000 939,776 690,000 490,000 260,000 93,000 74,261 $5,197,776 $4,304,261

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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