How much is the company’s current liabilities?

Q: year end: Cash $250,000, Accounts Payable $70,000, Prepaid Expense $15,000, Non-current assets…

A: Solution: Current assets = cash + prepaid expenses = 250000 + 15000 = $265,000 Total assets =…

Q: Given the following list of accounts, calculate Total Assets: Accounts Receivable $ 10,000 Capital…

A: Total assets are equal to the sum of current assets and non-current assets. The term total assets…

Q: If at the end of a period, a company has $700 in cash, $200 in accounts receivable, and $400 in…

A: Assets includes cash , stock , debtors etc.

Q: Al Rahami Shop started the year with total assets of OMR210,000 and total liabilities of OMR120,000.…

A: Formula: Net Income = Revenues - expenses

Q: The following information was taken from statement of financial position of ABC Company. Calculate…

A: Solution:- 1)Calculation of current ratio =Current assets / Current liabilities

Q: The post-closing trial balance of Ha Hakdog Company reported the following: Cash Accounts Receivable…

A: A trial balance is a schedule in which total of debit column is always equals to credit. If there is…

Q: Conner Corporation's adjusted trial balance included the following items: Accounts payable…

A: Introduction: Trial balance: After ledger postings all the final balances in ledger accounts are…

Q: The following information is available from Sand Corp's accounting records for the year ended…

A: The cash flow from operations include all cash outflows and inflows that concern the operations of…

Q: What is Smith Company's quick ratio?

A: Quick Ratio= Liquid AssetsCurrent Liabilities   Liquid assets are those current assets which can be…

Q: At the beginning of the year, Alex's Electronic Inc. had long-term debt of $280 and total debt of…

A: Given information is: At the beginning of the year, Alex's Electronic Inc. had long-term debt of…

Q: Grantham Corporation reports the following ledger account balances at June 30, 2022: Cash $1,662…

A: The trial balance represents all the accounts of the business woth Debit and credit balances.

Q: The company's accounts receivable to 500,000. Prepaid Expenses and unearned income are 30,000 and…

A: Introduction: Balance sheet: All Assets and liabilities are to be shown in Balance sheet. It tells…

Q: Happy Selling's had the following accounts atyear end: Cash-250,000, Accounts Payable-70,000,…

A: Introduction: Current Assets: The Assets which can be easily converted in to cash called as Current…

Q: M Company provided the following adjusted account balances on December 31, 2x14:   Wages Payable -…

A: Assets is the term of accounting which is defined as the capital expenditures of the business that…

Q: Balances of assets and liabilities accounts of FDNACCT at year end are as follows: Cash P 84,000…

A: Solution: Total current assets = Cash  + Accounts receivables + Accrued service income + Prepaid…

Q: Photometer Company paid off $30,000 of its accounts payable in cash. What would be the effects of…

A: Lets understand the basics. Accounting equation is also known as balance sheet equation. It means…

Q: The following selected accounts and their current balances appear in the ledger of Clairemont Co.…

A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three…

Q: The following is the ending balances of accounts at December 31, 2021, for the Weismuller Publishing…

A: The balance sheet indicates the statement that shows the company's financial position by stating…

Q: Journalize the December transactions. (

A:

Q: The ending balance of a business' accounts payable is $100,000 and the total debits and credits to…

A: The beginning balance of account can be calculated from the double entry book keeping system method

Q: Credit sales P6,000,000 Cash sales 1,000,000 Collection from customers 5,600,000 Cash purchases…

A: Purchases under the cash basis is purchases that have been paid for during the year It includes cash…

Q: How much is owner’s equity at year-en

A: we know that Assets = Liabilities + owner's equity so Owner's equity = Assets - Liabilities Owner's…

Q: Rebel Technology maintains its records using cash-basis accounting. During the year, the company…

A: In accounting, there are lots of methods of accounting, but the most common method is: Cash Basis…

Q: Khan's had the following accounts at year end: Cash-250,000, Accounts Payable-70,000, Accounts…

A: Introduction: Current Assets: Assets which can be easily converted in to cash with in a year period…

Q: Saddleback Company paid off $39,000 of its accounts payable in cash. What would be the effects of…

A: Accounting Equation is:

Q: Account payable at the beginning of the period is P25,600. Total purchases during the period…

A: Cash purchase = Total purchases during the period x (100 - 75)% = P178,500 x 25% = P44,625 Credit…

Q: Jaguar Plastics Company has been operating for three years. At December 31 of last year, the…

A: You have posted multiple part question, so as per our policy only the first three sub-parts are…

Q: A. Camy Enterprise is a wholesaler company that sells various types of kitchenware. The following is…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: When a company buys equipment for $161,000 and pays for one half in cash and the other one half is…

A: The accounting equation is followed while recording any financial transaction. As per the accounting…

Q: theo company's account Receivable amounted to 500,000, Prepaid expense and unearned income are…

A: Current assets: The assets which could be converted into cash within one year like accounts…

Q: The company's accounts receivable to 500,000. Prepaid Expenses and unearned income are 30,000 and…

A: Introduction: Current Assets: Assets which can be easily converted in to cash with in a year period…

Q: Ernie's home repair had beginning long term debt of $51,207 and ending long term debt of $36,714.…

A: Given, The interest paid was $2,808. Beginning long term debt = $ 51,207 Ending long term debt = $…

Q: b. Lower efficiency because its gross profit margin is lower than that of the industry average. c.…

A: The question is related to Ratio Analysis. The details are given Required  1. Gross Profit Ratio,…

Q: Maxwell Furniture Center had accounts receivable of $20,000 at the beginning of the year and $54,000…

A: Accounts receivable is increased by ($54,000-$20,000) $34,000 during the year.

Q: During the month, Bavarian Auto Co. received $1,245,000 in cash and paid out $974,200 in cash. a.…

A: a. No, this information does not indicate that Bavarian Auto Co. had net income of $270,800 during…

Q: Happy Selling’s had the following accounts atyear end: Cash-250,000, Accounts Payable-70,000,…

A: Current Assets: Current assets are all the assets of a company that are expected to be sold or used…

Q: Happy Selling’s Accounts Receivable amounted to 500,000. Prepaid Expense and Unearned Income totaled…

A: Current Assets: The assets which can be converted in to cash easily with in a short period less than…

Q: The following is the ending balances of accounts at December 31, 2021, for the Weismuller Publishing…

A: Balance Sheet is a financial statement that generally reports the assets, liabilities and…

Q: The company's accounts receivable to 500,000. Prepaid Expenses and unearned income are 30,000 and…

A: Current liabilities: Liabilities which have to be paid  within one year or one operating cycle,…

Q: Omer Company showed the following balances at the end of its first year: Cash…

A: Accounts with credit balances are Accounts payable        5,600 Notes payable             8,400…

Q: The Pioneer Company has provided the following account balances:   Cash $38,100; Short-term…

A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…

Q: The following information is available for Pharoah Company Accounts receivable   $2,200   Cash…

A: Balance Sheet: The balance sheet is a financial statement that shows the company's assets, the money…

Q: The assets and liabilities of Global Travel Agency on Dece expenses for the year are as follows:…

A: "Since you have posted a question with multiple sub-parts, we will solve only first three sub-parts…

Q: he following information was taken from statement of financial position of ABC Company. Calculate…

A: Ratio analysis: Ratio analysis is a mathematical method for determining a company ’s performance,…

Q: The Sanchez Company provided the following balances at the end of its first year: $ 2,500 Cash…

A: The income statement is a financial report that evaluates a business's financial performance over a…

Q: The following information pertains to Diane Company. Assume that all balance sheet amounts represent…

A: Return on total assets = Net income / Average Total assets