Doggly Inc shows current assets of $105, net fixed assets of $350, Iong-term debt of $80 and owners equity of $250. What is the value of the firm's current liabilities if they are the only remaining balance sheet item? -$20 O $20 $125 $145 $330 Previous No new data to save. Last checked at 12:52pm Stop sharing Hide Honorlock is sharing your screen with app.honorlock.com

Doggly Inc shows current assets of $105, net fixed assets of $350, Iong-term debt of $80 and owners equity of $250. What is the value of the firm's current liabilities if they are the only remaining balance sheet item? -$20 O $20 $125 $145 $330 Previous No new data to save. Last checked at 12:52pm Stop sharing Hide Honorlock is sharing your screen with app.honorlock.com

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 15EA: Journalize for Harper and Co. each of the following transactions or state no entry required and...

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A company's total assets amount to $100,000 and its total liabilities are $40,000. What is the Stockholders' Equity? a) $140,000 b) $60,000 c) $100,000 d) $40,000 @@@ This question already posted and got correct answer. dont answer this question ,i will give 10 dislikes,. do not copy from chatgpt or any ai @@@
income summary account of ballon company has debit balance of 222,0000 after revenue of 234,000 and expenses of 456,000 were closed to the account. Kenneth Balloon, Drawing has a debit balance of 24,000 and Kenneth Ballon, Capital has a credit balance of 348,000. 1. Record the journal entries 2. What is the new balance of Kenneth Ballon Capital?
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The ledger accounts of AXX Internet Company appear as follows on March 31, 20X1: 101Cash $65,000 111Accounts receivable 35,860 121 Supplies 9,100 131 Prepaid insurance 23,500 141Equipment 103,000 142 Accumulated depreciation—Equipment 39,820 202 Accounts payable 11,500 301 Aretha Hinkle, Capital 115,000 302Aretha Hinkle, Drawing 11,500 401Fees income 311,000 510Depreciation expense—Equipment 19,660 511Insurance expense 9,900 514Rent expense 31,500 517Salaries expense 151,000 518Supplies expense 4,100 519Telephone expense 5,300 523Utilities expense 7,900 Required: Prepare the closing entries. Post the transactions into the appropriate ledger accounts. Hint: Be sure to enter beginning balances.
Roshaun Gould started a web consulting firm called Gould Solutions. He began operations and completedseven transactions in April that resulted in the following accounts, which all have normal balances. Cash . . . . . . . . . . . . . . . . . . $20,000Office supplies. . . . . . . . . . 750Prepaid rent . . . . . . . . . . . . 1,800Office equipment. . . . . . . $12,250Accounts payable. . . . . . . 12,250R. Gould, Capital. . . . . . . . 15,000R. Gould, Withdrawals. . . . . . . . . $ 5,200Consulting fees earned . . . . . . . . 20,400Miscellaneous expenses . . . . . . . 7,650 Required 1. Prepare a trial balance for this business as of the end of April. 2. The following seven transactions produced the account balances shown above. a. Gould invested $15,000 cash in the business. b. Paid $1,800 cash in advance for next month’s rent expense. c. Paid $7,650 cash for miscellaneous expenses. d. Purchased office supplies for $750 cash. e. Purchased $12,250 of office equipment on credit (with accounts…
The accounting equation for Goodboy's enterprises is as follows: Assets Liabilities Owner's Equity $120,000 = $60,000 + $60,000, If Goodboy's purchases office equipment on account for $12,000, the accounting equation will change to? Show Solution.
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Don't use chatgpt, I will 5 upvotes Prezas Company's balance sheet showed total current assets of $3,250, all of which were required in operations. Its current liabilities consisted of $975 of accounts payable, $600 of 6% short- term notes payable to the bank, and $250 of accrued wages and taxes. What was its net operating working capital?
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Hi, I'm having trouble solving this section of the problem. I have difficulty with journal entries. I've attached a screen shot of the part of the problem I need help with and have copy and pasted the original problem since it wouldn't all fit in one screenshot. Thanks. Marvel Media, LLC, has three members: WLKT Partners, Madison Sanders, and Observer Newspaper, LLC. On January 1, 20Y2, the three members had equity of $300,000, $75,000, and $180,000, respectively. WLKT Partners contributed an additional $80,000 to Marvel, Media, LLC, on June 1, 20Y2. Madison Sanders received an annual salary allowance of $174,000 during 20Y2. The members’ equity accounts are also credited with 12% interest on each member's January 1 capital balance. Any remaining income is to be shared in the ratio of 4:3:3 among the three members. The revenues, expenses, and net income for Marvel Media, LLC, for 20Y2 were $1,230,860, $790,860 and $440,000 respectively. Amounts equal to the salary and interest…