use the following information for meeker corp to determine the amount of equity to report (cash 78,000) (building 129,500) (land 215,800) (liabilities 135,000) what is the answer? A 558,300, B 299,300, C. 29,300 or either and what would it be?
Q: Use the accounting equation to answer the following: 1. The assets of Luzon Petroleum are…
A: Answer 1) Calculation of Liabilities Liabilities = Assets – Owner’s equity Liabilities = P…
Q: Use the accounting equation to answer each of the following questions. (a) The assets of Kafka…
A: As per basic accounting equation, total assets should be equal to total liabilities and owners…
Q: Skysong, Inc. had the following accounts and balances: Accounts payable $31100 Equipment $35300…
A: Assets = Liabilities + stock holder's equity.
Q: Some selected financial statement items belonging to MNO Company are given in the table below.…
A: Return on equity It is considered to be one of the financial performance measures and it is a…
Q: Nash's Trading Post, LLC had the following accounts and balances: Accounts payable $28000 Equipment…
A: In balance sheet, the total assets is equal to the sum of liabilities and total stockholders'…
Q: If equity is $300,000 and liabilities are $192,000, then assets equal
A: Balance of both side of balance sheet should be equal. It means Total of equity and liabilities is…
Q: Given below is the opening balance sheet and a list of transactions relating to the business of M/s…
A:
Q: 5. Given the following information, what is the amount of Equity. Buildings £30,000, Inventory…
A: IN THE GIVEN QUESTION WE HAVE TO CALCULATE AMOUNT OF EQUITY AMOUNT OF EQUITY = TOTAL ASSETS - (TRADE…
Q: An entity has the following owner's equity, drawings and assets: Capital N$120 000; withdrawals N$25…
A: Total assets = Total liabilities + Net capital where, Net capital = Capital - withdrawals
Q: Presented below are the captions of Faulk Company’s balance sheet. a. Current assets. b.…
A: Balance sheet: Balance Sheet is one of the financial statements that summarize the assets, the…
Q: Use the following information for Meeker Corporation to determine the amount of equity to report.…
A: Given that, Cash = $61000 Building = $120500 land = $201500 Liabilities = $126500
Q: I have previously asked this question! The commas in the table do not line up on the answer…
A: Statement of cash flow refers to the statement prepared as a part of a financial statement that…
Q: se the following information to CALCULATE THE DOLLAR AMOUNT($) OF J. Biden, capital, 3/31/2021…
A: Capital balance on 3/31/2021 = Capital balance on 3/1/2021 + Net income – Owners name withdrawals
Q: The following table shows the effects of transactions 1 through 5 on the assets, liabilities, and…
A: Accounting equation is the basic equation which is used to prepare the financial statements of an…
Q: Total assets of Martin Marine equal $500,000 and its liabilities and equity amounts are equal to…
A:
Q: If equity equals $100,000, which of the following is true?A. Assets exceed liabilities by…
A: Accounting equation is one of the concept used in the accounting process. Elements of accounting…
Q: Use the following information for Meeker Corp. to determine the amount of equity to report. $ 68,000…
A: D. $250,000 Assets - Liabilities = Owner's Equity Cash + Equipment + Land - Liabilities = Owner's…
Q: The Co. has total current assets = $2,200; total current liabilities = $500; and long-term assets =…
A: Accounting Equation is a mathematical expression which shows the mathematical evidence of the…
Q: Provided below is the information from the QPR property and casualty insurance company: (000'$)…
A: "Hi, Thanks for the Question. Since you asked multiple sub parts question, we will answer first…
Q: The following information was taken from Slater Company's balance sheet: Fixed assets (net)…
A: Ratio of fixed assets to long-term liabilities = Fixed assets (net) / Long-term liabilities Ratio of…
Q: BE1-2 Given the accounting equation, answer each of the following questions. (a) The liabilitics of…
A: Accounting equation: Accounting equation is an accounting tool expressed in the form of equation, by…
Q: "The total liabilities of Arse's Company on the balance sheet are P270,000; this amount is equal to…
A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued…
Q: The following information relates to Oriole Co. for the year 2020. Owner’s capital, January 1,…
A: An income statement is a financial report that indicates the revenue and expenses of a business. It…
Q: Assume that the total assets, liabilities, Equity of the firm are OMR 40000, OMR 10000 and OMR 30000…
A: The accounting equation states that, assets = liabilities + equity
Q: Using the expanded accounting equation, calculate and enter the answers for each question. You will…
A: Stockholders' Equity: Stockholders' equity is a part of the accounting equation, which says, Assets…
Q: Use the following information for Meeker Corporation to determine the amount of equity to report.…
A: >Accounting equation states that Total Assets = Total Liabilities + Total equity. >This…
Q: The following were extracted from the books of A. Ltd: Equipment $40,000, a Land and Building…
A: Current assets which are realizable into cash within one year more than one year are known as fixed…
Q: Whispering Winds Corp. had the following accounts and balances: Accounts payable $ Equipment $ 28500…
A: To Find:- Total of liabilities and stock holders equity
Q: Hi, You have already solve a,b,and c. May I please have the solutions for the remining questions?…
A: As the question has more than 3 sub-parts, the first 3 subparts are answered. If you want the answer…
Q: Given the following information, what is the amount of Equity. Buildings £50,000, Inventory £7,500,…
A: Stockholders' equity: Stockholders' equity means the net assets available to shareholders after…
Q: The following information is available balances of accounts of Yong Pal Company: Yong Pal, Capital,…
A: Debit balance in the Income Summary account is the net loss.
Q: During 2022, Pronghorn Corp entered into the following transactions. 1. Borrowed $62,200 by…
A: The basic Accounting Equation is Assets = Equity + LiabilitiesAssets are the resources owned by the…
Q: data below please complete a P&L Account Opening Stock - £800,000 Depreciation -…
A: At first case the income statement is prepared to you know the net profit of the company. this…
Q: (a) The liabilities of Whispering Winds Company are $84,000. Common stock account is $151,000;…
A:
Q: Directions: Please provide what is asked in each of the questions below 1. If the Assets of ABC…
A: Accounting Equation: The Accounting Equation also is known as the basic accounting equation provides…
Q: 1. If total assets is P 50,000 and 2/3 of which is total liabilities, how much is the equity? 2. If…
A: Dear Student, As you posted multiple questions, Here we can answer only three questions, Please…
Q: Using the following accounts in Table (1) below, prepare a Balance Sheet for Bali Tour Sdn.Bhd. as…
A: The balance sheet's of the business organizations helps the stakeholders in analyzing the company's…
Q: If the total book value of the assets of the accounting entity is $4,150,000 and the total…
A: As per Accounting Equation,Assets =Liabilities+Stockholders' equity
Q: Given non-current assets of £40,000, current assets of £13,000, current liabilities of £4,000,…
A: Assets = Liabilities + Equity (Current Assets + Non-current Asset) = (Current Liabilities +…
Q: Assuming a business entity has a total asset of 25,000,000 its total liabilities is 1/3 of the said…
A: Total asset = 25,000,000 Liabilities = 1/3 of Assets = 25,000,000*1/3…
Q: A vacant lot acquired for $375,500, on which there is a balance owed of $281,625, is sold for…
A: The Accounting Equation assists the business in creating a balance sheet and determining whether the…
Q: The Dinmore Company has total assets of $6.4 million, current assets of $2.3 million, current…
A: Stockholders' equity (or business net worth) shows how much the owners of a company have invested in…
Q: Udeh's boat repair has total assets of $ 500,000 and total liabilities of 250,000. How much is…
A: Equity = Total Assets - Total Liabilities
Q: How much is the total assets, liabilities and shareholder' equity of Tom Corporation?
A: Total Assets = Liabilities + Shareholder's equity
Q: Classify each of these items as an asset, liability, or stockholders' equity, and determine the…
A:
Q: I have been asked to prepare an income statement, how do I know what to include? Question: The…
A: Income statement means the statement which shows the profit and loss of the company in an accounting…
Q: Q2. From the following particulars, you are required to calculate: (b) Gross Profit Ratio (e)…
A: Current Ratio = Current Assets / Current Liabilities Current Assets = Inventories + Debtors +…
Q: Angela Corporation has the following selected assets and liabilities: Given the said data, determine…
A: Current assets = Cash + Accounts receivable + Inventory Current assets = 15,000 + 20,000 + 37,000…
use the following information for meeker corp to determine the amount of equity to report (cash 78,000) (building 129,500) (land 215,800) (liabilities 135,000) what is the answer? A 558,300, B 299,300, C. 29,300 or either and what would it be?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Determine the effects of the following transactions on Current assets, Current liabilities, and Working Capital. Write “Inc” for an Increase, “Dec” for a Decrease, or “NE” if there is No Effect. Write your answers in the blanks provided. Current Asset Current Liability Net Working Capital 1. Sale of merchandise on account 2. Acquired shares of ABS CBN for cash 3. Pays the long-term debt of P150,000 4. Sells old machine for P10,000 cash 5. Issued shares of stock to cash investors 6. Declared cash dividends 7. Payment of advance rentals (asset method) 8. One year loan from a bank 9. Issued shares of stock to pay short term loan 10. Collection of receivables 11. Cash redemption of bonded debt 12. Six months interest received in advance(liability method is used) 13. Issued stock dividends 14. Payment of cash dividends declared in #6 15. Sell of equipment for P50,000;…You are given the following information: Cash=$407, inventory= $579, Notes payable=$301, Long-term debt=$1,680, Accounts payable=$393, Accounts Receivable=$265, Net fixed Assets=$6,141 and total shareholder equity =???. Build a balance sheet and solve for and include shareholder's equity. a. what is the company's quick ratio? b. what is the company's total debt to equity ratio? c. what is the company's total working capital?Determine the missing amounts. (Hint: For example, to solve for (a), Assets – Liabilities = Stockholders’ Equity = $35,000.) Ayayai Company Kingbird Company Michelangelo Company Raphael CompanyJanuary 1, 2019 Assets $ 105,000 $154,000 $ (g) $210,000 Liabilities 70,000 (d) 105,000 (j)Stockholders’ equity (a) 84,000 63,000 140,000 December 31, 2019 Assets (b) 191,800 280,000 (k)Liabilities 77,000 105,000 (h) 112,000 Stockholders’ equity 56,000 (e) 182,000 196,000 Stockholders’ equity changes in year Additional investment (c) 21,000 14,000 21,000 Dividends 14,000 (f) 19,600 14,000 Total revenues 490,000 588,000 (i) 700,000 Total expenses 462,000 539,000 478,800 (l)
- The Dinmore Company has total assets of $6.4 million, currentassets of $2.3 million, current liabilities of $2.5 million andtotal liabilities of $4.2 million.1.What is the amount of the stockholders’ equity?2.What is the amount of the net working capital?3.What is the amount of the long term assets?4.What is the amount of the long term debt?Answers onChoose the letter of the correct answer. How much is the total assets, liabilities and shareholder' equity of Tom Corporation? (check the picture attached) a. Asset = P 326,000; Liabilities = P 130,000; Shareholder's equity = P 196,000 b. Asset = P 320,000; Liabilities = P 136,000; Shareholder's equity = P 184,000 c. Asset = P 200,000; Liabilities = P 70,000; Shareholder's equity = P 130,000 d. Asset = P 326,000; Liabilities = P 180,000; Shareholder's equity = P 146,000Using the data given below, compute for the total amount of items that meet the definition of financial asset Cash P 100,000 Investment in shares – FVTPL 500,000 Investment in associate 2,000,000 Accounts receivable 1,000,000 Inventories 800,000 Prepaid rent 50,000 Interest rate swap receivable 200,000 Investment in debt securities – FVTOCI 400,000 Investment in debt securities – AC 300,000 Land 2,000,000 Buildings 3,000,000 Machinery and equipment 1,500,000 Patents 250,000
- The Dinmore Company has total assets of $6.4 million, current assets of $2.3 million, current liabilities of $2.5 million and total liabilities of $4.2 million.1.What is the amount of the stockholders’ equity?How do I get both sides to balance? Assets =Liabilities and Stockholders Equity? I cant seem to find the shareholders equity amount. Assets Liabilities and Stockholders Equity Cash $ 7,000.00 Accounts Payable $14,000 Accounts Recievable $ 19,000.00 Long-Term Debt $140,000 Inventory $170,000.00 Shareholders Equity $7,000 PP&E $ 70,000.00 266,000 $161,000 Cash $ 7,000.00 inventory of TV $ 170,000.00 PP&E 70000 Accounts Recievable $ 19,000.00 Accounts Payable $14,000 Long-Term Debt $140,000 Shareholders Equity XXCan you please help me with this problem , and show me a formula for completing it. (a) The liabilities of Whispering Winds Company are $84,000. Common stock account is $151,000; dividends are $41,000; revenues, $461,000; and expenses, $334,000. What is the amount of Whispering Winds Company’s total assets? Total assets $enter total assets in dollars (b) The total assets of Kingbird, Inc. are $57,000. Common stock account is $24,500; dividends are $8,500; revenues, $48,000; and expenses, $34,000. What is the amount of the company’s total liabilities? Total liabilities $enter Total liabilities in dollars (c) The total assets of Dierdorf Co. are $600,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Dierdorf Co.’s stockholders’ equity? Stockholders’ equity $enter Stockholders’ equity in dollars
- Lambda, Inc . presents only the following figures from its balance sheet. You are to calculate the amounts represented by question marks (?) from the additional information given: Assets Cash P 37,500 Accounts Receivable (net) ? Inventory ? Plant and Equipment (net) 441,000 P 648,000 Liabilities & Stockholders' Equity Accounts Payable (Trade) P ? Income Tax Payable, current 37,500 Long-term Debt ? Common stock 450,000 Retained Earnings ?___ P ?___ Additional information: Current ratio, at year-end…If assets are $900,000, capital $500,000, then using the basic accounting equation what is liability? Select one: a. $400,000 b. $500,000 c. $900,000 d. $1,400,000Use the accounting equation to answer each of the following questions.(a) The assets of Kafka Company are $290,000. Owner’s capital is $450,000; drawings are $140,000;revenues, $150,000; and expenses, $220,000. What is the amount of Kafka Company’s total liabilities?