Question 13Using the following balance sheet items and amounts, calculate the total liquidassets.• Money market account $4056• Retirement account $17200• Medical bills $120• Checking account $8308• Credit card balance $670Your Answer:Answer

Liquid Assets are assets which can be converted into cash quickly without any loss of value.

Answered: Question 13 Using the following balance…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

See similar textbooks

Similar questions

Problem 6-7: The Chancellor Corporation The following information was available for the Chancellor Corporation on December 31, 2021: Year 2019 2020 2021 Sales 3000 9000 7000 Accounts Receivable 800 100 300 Required: 1. Calculate Receivables Turnover in 2021 (round to 2 decimal places). 2. Calculate the average days to collect receivables in 2020. Assume a 365 day year and round all results to the nearest day. 3. Calculate the average days to collect receivables in 2021. Assume a 365 day year and round all results to the nearest day. Upon completion, enter your answers below (2 decimal places): Receivables Turnover (2021): Days to Collect Receivables (2020): Days to Collect Receivables (2021): submit
Explainations would help :D
Problem 10 You are assigned to assess the collectibility of the receivables carried in the books Goliath Company, your company's audit client. The working trial balance are prepared at December 31, 2021 showed the following balances: Notes Receivable 6,000,000 Accounts Receivable 4,000,000 In the course of your examination, you discovered the following: Notes Receivable from Company A Notes Receivable from Company B 2,000,000 3,000,000 Notes Receivable from Company C 1,000,000 No interest has yet been recorded by Goliath during 2021 on any of the notes above. Company A is undergoing bankruptcy proceedings and has negotiated for a restructuring of its notes receivable. The note was for a four-year period and interest of 10% is collectible annually. All interest accrued before 2021 has been collected. The note matured on December 31, 2021. Collection of Interest was last made on December 31, 2020. The restructuring agreement with Company A calls for annual payment of P550,000 starting…
neck my wor Income: Assets: Checking account Savings account $ 1,940 9,150 Gross income $69,000 Interest income 450 Total $69,450 Automobile 1,800 Personal property 14,900 Total $27,790 Expenses: Living Insurance premium $24,200 Liabilities: 400 Note to bank 5,200 Таxes 15,200 Net worth $22,590 ($27,790 - $5,200) Medical 630 Investment 3,500 Total $43,930 Net worth = Assets - Liabilities (own) (owe) Paula believes her gross income will double in 2019 but her interest income will decrease $150. She plans to reduce her 2019 living expenses by one-fifth. Paula's insurance company wrote a letter announcing that her insurance premiums would triple in 2019. Her accountant estimates her taxes will decrease $250 and her medical costs will increase $41O. Paula also hopes to cut her investments expenses by one-fourth. Paula's accountant projects that her savings and checking accounts will each triple in value. On January 2, 2019, Paula sold her automobile and began to use public transportation.…
Topic: Liabilities Please show a solution. Thank you!
QUESTION 1 The following debtor control account and debtors list were prepared by the owner of Siyadula Traders. The owner is unsure if he has correctly prepared it. REQUIRED: Jse the following information to prepare the correct account and list: Debtors control account for January 2021 Debtors list at 31 January 2021. General Ledger DEBTORS CONTROL ACCOUNT Jan 01 Balance b/d 54 300 Jan 31 Bank and discount CRJ5 36 200 Sales Returns SRJ 6 200 Sales SJ 62 110 Balance c/d 37 810 98 310 98 310 Feb 01 Balance b/d 37 810 Debtors List as at 31 January 2021 Debit Credit B. Afleck 12 525 M. Damon 19 085 J. Peter 18 100 A. Paul 9 200 D. Carter 17 900 76 810
D Question 6 An entity reported the following data on December 31,2019: Cash in bank, net of bank overdraft of 100,000 1200,000 PCF, including unreplenished expenses of 10,000 50,000 Notes receivables 750,000 A/R net customers account with credit balances of 200K 2,000,000 Inventory, excluding unrecorded purchase of 300,000 on account in transit shipped FOB SP on 12/31/19 2500,000
Assets Liabilities and equity Cash $10 Demand $90 deposits Quick Money Aaa $15 Equity $10 tranche Quick Money Ba1 $5 tranche Loans (risk weight 100%) $70
Question 1 The following trial balance had ben been extracted from the book of Shen You for the year ended 31 October 2021. RM RM Accounts receivable and payables 435,000 325,000 Bank overdraft 18,200 Inventory at 1 November 2020 85,000 Sales 1,025,400 Purchases 673,000 Returns inwards and outwards 5,400 13,000 Carriage 9,600 Salaries and wages 220,000 Rent 33,800 Commission received 18,700 Bad debts 4,680 Plant and machinery 600,000 Motor vehicles 300,000 Accumulated depreciation: Plant and machinery Motor vehicles 120,000 57,000 Allowance for doubtful debts 2,700 Cash in hand 3,100 Capital 849,580 Drawings 60,000 2,429,580 2,429,580 Additional notes: Inventory at the cost of business has been valued at RM126,000 at market price. No records for…
TB 08 - 56 Accounts receivable accounts for specific cu... Accounts receivable accounts for specific customers are important because they show Multiple Choice How much each customer paid All of the choices are correct How much each customer still owes The basis for sending bills to customers How much each customer purchases
Ore
Problem 9-03 Fill in the blanks below with the correct entries. Round your answers to the nearest dollar. Assets Liabilities and Stockholders’ Equity Current Assets Current liabilities Cash $ 240,000 Accounts payable $ 530,000 Accounts receivable Notes payable to banks 80,000 ($ less allowance for Accrued wages doubtful accounts of $15,000) 1,040,000 Taxes owed 170,000 Inventory 1,470,000 Total current liabilities $ 1,220,000 Total current assets $ Long-term debt Land Stockholders’ equity Plant and equipment Common stock ($2,410,000 less ($1 par, 670,000 accumulated depreciation shares authorized, $ ) 1,580,000 640,000 outstanding) Total assets $ 4,670,000 Retained earnings Total stockholders’ equity $ 2,660,000 Total liabilities and equity $

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

Question 13 Using the following balance sheet items and amounts, calculate the total liquid assets. • Money market account $4056 • Retirement account $17200 • Medical bills $120 Checking account $8308 • Credit card balance $670 Your Answer: Answer