ParticularsAmount$Assets Non-Current Assets(Fixed Assets): Property, Plant, and Equipment550,000Total Non-Current Assets550,000Current Assets: Accounts Receivable140,000Notes Receivable100,000Inventory450,000Supplies and other prepayments100,000Cash1,000,000Total Current Assets1,790,000Total Assets2,340,000Liabilities Non-Current Liabilities: Long term debt300,000Total Non-Current Liabilities300,000Current Liabilities: Accounts Payable100,000Notes Payable100,000Total Current Liabilities200,000Total Liabilities500,000Owner's Equity Capital1,840,000Total Owner's Equity1,840,000Total Liabilities and Owner's Equity2,340,000 c. How much is the total current liability of the entity?d. How much is the total non current liability of the entity?e. How much is the total asset of the entity?

Name: ParticularsAmount$Assets Non-Current Assets(Fixed Assets): Property, P
Uploaded: 2024-03-04T10:43:15.000Z
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Description: ParticularsAmount$Assets Non-Current Assets(Fixed Assets): Property, Plant, and Equipment550,000Total Non-Current Assets550,000Current Assets: Accounts Receivable140,000Notes Receivable100,000Inventory450,000Supplies and other prepayments100,000Cash1

c. Total current liability of the entity = Accounts Payable + Notes Payable = 100,000 + 100,000 =…

Answered: Particulars Amount$ Assets…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter2: Financial Statements And The Annual Report

Section: Chapter Questions

Problem 2.5E: Classification of Assets and Liabilities Indicate the appropriate classification of each of the...

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Particulars	Amount$
Assets
Non-Current Assets(Fixed Assets):
Property, Plant, and Equipment	550,000
Total Non-Current Assets	550,000
Current Assets:
Accounts Receivable	140,000
Notes Receivable	100,000
Inventory	450,000
Supplies and other prepayments	100,000
Cash	1,000,000
Total Current Assets	1,790,000
Total Assets	2,340,000
Liabilities
Non-Current Liabilities:
Long term debt	300,000
Total Non-Current Liabilities	300,000
Current Liabilities:
Accounts Payable	100,000
Notes Payable	100,000
Total Current Liabilities	200,000
Total Liabilities	500,000
Owner's Equity
Capital	1,840,000
Total Owner's Equity	1,840,000
Total Liabilities and Owner's Equity	2,340,000

c. How much is the total current liability of the entity?

d. How much is the total non current liability of the entity?

e. How much is the total asset of the entity?

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