FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- The Cambridge Company collected the following information for the preparation of its December 31 classified balance sheet: Accounts receivable $11.250 Property, plant, and equipment $150,000 15,000 Inventory Cash 48.750 Other current assets 22,500 Other long term assets 30.000 Accounts payable 15.750 Common stock 7,500 Long-term liabilities 41,250 Retained earnings Other current liabilities 13,500 Prepare a classified balance sheet for Cambridge Company Cambridge Company Balance Sheet December 31 Assets Liabilities & Stockholders' Equity Current Labilities Current Assets Other current liabilities Total Current Liabilities Other current assets Noncurrent Liabilities Total Curren Assets Total Liabilities Noncurrent Assets Stockholders Couity Common stock Other long term assets Total Stockholders Equity Total Nonturent Assets Total Assets Total Liabilities & Stockholders' Equity 3 Checkarrow_forwardQuestion Content Area Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $31,654 Accounts receivable 69,987 Accrued liabilities 6,524 Cash 16,364 Intangible assets 38,210 Inventory 80,832 Long-term investments 90,451 Long-term liabilities 73,398 Notes payable (short-term) 26,425 Property, plant, and equipment 659,739 Prepaid expenses 1,697 Temporary investments 38,252 Based on the data for Harding Company, what is the amount of quick assets?arrow_forwardQuestion Content Area 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 working capital? a.$213,000 b.$153,000 c.$39,000 d.$113,000arrow_forward
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