The balance sheet for Rodman Company is as follows. In addition, the following information for 2012 has
Question:
The balance sheet for Rodman Company is as follows.
In addition, the following information for 2012 has been assembled:
Debt ratio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50%
Current ratio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.2
Compute the missing values (a) through(i).
Transcribed Image Text:
Rodman Company Balance Sheet December 31, 2012 Assets Current assets: Cash (a) Accounts receivable 55,000 Total current assets. (b) 35,000 120,000 Long-term investments Property, plant, and equipment Total assets . (c) Liabilities and Stockholders' Equity Current liabilities: Account payable. Income taxes payable. $ 64,000 (d) $ 80,000 Total current liabilities Long-term liabilities. (e) Total liabilities (f) Stockholders' equity: Paidin capital . Retained earnings. 78,500 Total stockholders' equity (h) Total liabilities and stockholders' equity. (i)
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b Current ratio Total current assetsTotal current liabilities 12 b80000 b 96000 a Cash Accounts rece...View the full answer
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Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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