[ Select] Determine the total amount of assets expected to be converted into cash in one year or less. [ Select] Determine the total amount of long term assets. [ Select] Determine total current liabilities. I Select1

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 6
The following is a list of the accounts for ABC Company as of December 31st, This is not the company's first year of operations.
Cash
24
34,000
Inventory
$
97,000
Long term debt - 10% to be paid in 1 year
$
120,000
Patent
2$
11,000
Sales
24
378,000
Cost of goods sold
24
195,000
Accumulated depreciation
2$
56,000
Land
$
100,000
Prepaid Insurance
4,000
Paid in capital
$4
29,000
Salary expense
24
39,000
Supplies expense
24
3,000
Unearned revenue
$
2,500
Manufacturing building
$
125,000
Transcribed Image Text:/quizzes/140176/take/questions/2118630 © Pu t DLSU Profs to Pick... L vroom vroom-Go... My.LaSalle Universit.. Z ZoteroBib Beautiful Free Imag.. C Create a palette - C. f Facebook Question 6 The following is a list of the accounts for ABC Company as of December 31st, This is not the company's first year of operations. Cash 24 34,000 Inventory $ 97,000 Long term debt - 10% to be paid in 1 year $ 120,000 Patent 2$ 11,000 Sales 24 378,000 Cost of goods sold 24 195,000 Accumulated depreciation 2$ 56,000 Land $ 100,000 Prepaid Insurance 4,000 Paid in capital $4 29,000 Salary expense 24 39,000 Supplies expense 24 3,000 Unearned revenue $ 2,500 Manufacturing building $ 125,000
balette C...
Manuracturing bulnding
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125,000
Accrued expense
2$
14,000
Common stock
24
1,000
Mortgage payable - due in 10 years
24
90,000
Accounts receivable
2$
27,000
Long-term investment
$
50,000
Goodwill
$
20,000
Notes receivable - due in 6 months
$
5,000
Manufacturing equipment
$
89.000
[ Select]
Determine the total amount of assets expected to be converted into cash in one year or less.
[ Select]
Determine the total amount of long term assets.
[ Select]
Determine total current liabilities.
[ Select ]
Determine the total long term liabilities.
[ Select ]
Determine the amount of retained earnings.
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Transcribed Image Text:balette C... Manuracturing bulnding O Facebook E DLSU Profs to Pick.. L vroom vroom - Go. C PubChem Term 3 Enlistment- O Enrollment Add Cla 125,000 Accrued expense 2$ 14,000 Common stock 24 1,000 Mortgage payable - due in 10 years 24 90,000 Accounts receivable 2$ 27,000 Long-term investment $ 50,000 Goodwill $ 20,000 Notes receivable - due in 6 months $ 5,000 Manufacturing equipment $ 89.000 [ Select] Determine the total amount of assets expected to be converted into cash in one year or less. [ Select] Determine the total amount of long term assets. [ Select] Determine total current liabilities. [ Select ] Determine the total long term liabilities. [ Select ] Determine the amount of retained earnings. Next 32°C Rain showers • Previous
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