The assets of J&R Associates consist entirely of Current Assets and net plant and equipment. The firm has total assets of P2,500,000, and and net plant equipment of P2,000,000. It has notes payable of P150,000, long-term debt of P750,000, and total common equity of P1,500,000. The firm does have accounts payable and accruals on its statement of financial position. The firm only finances with debt and common equity, so it has no preferred stock on its statement of financial position. What is the amount of total liabilities and equity that appears on the firm's statement of financial position?

The assets of J&R Associates consist entirely of Current Assets and net plant and equipment. The firm has total assets of P2,500,000, and and net plant equipment of P2,000,000. It has notes payable of P150,000, long-term debt of P750,000, and total common equity of P1,500,000. The firm does have accounts payable and accruals on its statement of financial position. The firm only finances with debt and common equity, so it has no preferred stock on its statement of financial position. What is the amount of total liabilities and equity that appears on the firm's statement of financial position?

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter1: Introduction To Business Activities And Overview Of Financial Statements And The Reporting Process

Section: Chapter Questions

Problem 22E

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4. The assets of J&R Associates consist entirely of Current Assets and net plant and equipment. The firm has total assets of P2,500,000, and and net plant equipment of P2,000,000. It has notes payable of P150,000, long-term debt of P750,000, and total common equity of P1,500,000. The firm does have accounts payable and accruals on its statement of financial position. The firm only finances with debt and common equity, so it has no preferred stock on its statement of financial position.What is the balance of current liabilities on the firm's statement of financial position?
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Total assets of $2.5 million and net plant and equipment equals $2 million. Notes payable of $150k and long term debt of $750k. Total common equity of $1.5 million. The firm does have accounts payable and accurals on its balance sheet and only finances with debt and common equity, so no preferred stock on the balance sheet. a) What is the company's total debt?b) What is the amount of total liabilities and equity that appears on the firm's balance sheet?c) What is the balance of current assetsd) What is the balance of current liabilitiese) What is the amount of accounts payable and accruals on its balance sheet?f) What is the firm's net working capitalg) what is the firm's net operating working capitalh) what is the explanation for the different in your answers to parts f and g?