4. Mortgage payable - due in :Accounts receivableLong-term investmentGoodwillNotes receivable - due in 6Manufacturing equipmentDetermine the total amount of assets expected to be converted into cash in one year or less.Determine the total amount of long term assets.Determine total current liabilities.Determine the total long term liabilities.Determine the amount of retained earnings.• Previous Question 4The following is a list of the accounts for ABC Company as of December 31. This is not the company's first year of operations.Cash34,000Inventory97,000Long term debt - 10% to be paid in 1 year120000PatentS11,000SalesIS378.000Cost of goods sold195.000Accumulated depreciation56.000Land100,000Prepaid InsuranceIS4.000Paid in capital29.000Salary expense39.000Supplies expense3,000Unearned revenue2,500Manufacturing buildingIS125.000Accrued expense14,000Common stock1.000Mortgage payable - due in 10 yearsIS90.000Accounts receivable27.000Long-term investment2450,000Goodwill2420.000Notes receivable - due in 6 months245.000Manufacturing cquipment89,000Determine the total amount of assels expected to be comverted into cash in one voar or lortSaloct 1

Hi student Since there are multiple subparts, we will answer only first three subparts.

Answered: Determine the total amount of assets…

Determine the total amount of assets expected to be converted into cash in one year or less. Determine the total amount of long term assets. Determine total current liabilities.

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter14: Financial Statement Analysis

Section: Chapter Questions

Problem 14.1BE: Horizontal analysis The comparative accounts payable and long-term debt balances for a company...

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Question

Mortgage payable - due in :
Accounts receivable
Long-term investment
Goodwill
Notes receivable - due in 6
Manufacturing equipment
Determine the total amount of assets expected to be converted into cash in one year or less.
Determine the total amount of long term assets.
Determine total current liabilities.
Determine the total long term liabilities.
Determine the amount of retained earnings.
• Previous

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