1.) The following items are taken from the financial statements of the Postal Service for the year ending December 31, 2014:   Accounts payable $ 18,000 Accounts receivable 11,000 Accumulated depreciation – equipment 28,000 Advertising expense 21,000 Cash 15,000 Owner’s capital (1/1/14) 102,000 Owner’s drawings 14,000 Depreciation expense 12,000 Insurance expense 3,000 Note payable, due 6/30/15 70,000 Prepaid insurance (12-month policy) 6,000 Rent expense 17,000 Salaries and wages expense 32,000 Service revenue 133,000 Supplies 4,000 Supplies expense 6,000 Equipment 210,000     What are total long-term liabilities at December 31, 2014?     $90,000     $88,000     $0     $70,000

Use the information provided for Privett Company to answer the question that follow. Privett Company Accounts payable $30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000 Notes payable (short-term) 20,000 Property, plant, and equipment 400,000 Prepaid expenses 2,000 Temporary investments 36,000 Based on the data for Privett Company, what is the amount of quick assets? a.$168,000 b.$96,000 c.$61,000 d.$60,000

This is the financial position of Hospital AMIH, Inc. regarding the repayment of its debts. These are the most relevant data of its financial statements: Total revenues $ 245,000 Total expenses $ 145,000 Depreciation $ 10,000 Changes in receivable accounts +$ 50,000 Changes in inventory ($ 20,000) Changes in accounts payable ($ 25,000) Total current liabilities $ 30,000 Total long-term debt $ 45,000 cash flow (total margin + depreciation expense) + interest expense/principal payment + interest expense Calculate the operating cash flow.

Consider the following financial data for Larry’s Computer Stores: Statement of Financial Position as of December 31, 2012 Cash & equivalents $ 94,500   Accounts payable $ 122,500 Receivables   202,500   Short-term bank note   162,500 Inventories   364,000   Accrued wages and taxes   110,500   Total current assets $ 661,000     Total short-term liab. $ 395,500         Long-term debt   418,000 Net fixed assets   468,500   Common equity   316,000 Total assets $ 1,129,500   Total liabilities & equity $ 1,129,500               Statement of Earnings for the Year Ended December 31, 2012 Sales revenue $ 450,000 Cost of merchandise sold   250,000 Gross profit $ 200,000 Operating expenses   97,500   Earnings before interest and taxes (EBIT) $ 102,500 Interest expense   46,500   Earnings before taxes (EBT) $ 56,000 Federal and state income taxes (45 percent)   25,200 Net earnings $ 30,800…