Balance Sheet Assets Liabilities Current Assets Current Liabilities Cash 50 Accounts payable 42 Accounts receivable 22 Notes
Fantastic news! We've Found the answer you've been seeking!
Question:
Assets | Liabilities | ||
Current Assets | Current Liabilities | ||
Cash | 50 | Accounts payable | 42 |
Accounts receivable | 22 | Notes payable/short-term debt | 7 |
Inventories | 17 | ||
Total current assets | 89 | Total current liabilities | 49 |
Long-Term Assets | Long-Term Liabilities | ||
Net property, plant, and equipment | 121 | Long-term debt | 128 |
Total long-term assets | 121 | Total long-term liabilities | 128 |
Total Liabilities | 177 | ||
Shareholders' Equity | 33 | ||
Total Assets | 210 | Total Liabilities and Shareholders' Equity | 210 |
Q.2. Romo, Inc. has current assets of $1850, net fixed assets of $8,600, current liabilities of $1,600, and long term debt of $6,100. What is the value of the shareholders’ equity account for this firm? Q.4. Fyre, Inc., has sales of $625,000,costs of $260,000, depreciation expense of $79,000, interest expense of $43,000, and a tax rate of 35 percent. What is the net income for this firm?
Q.5. Suppose U.S corporation has 18 million shares outstanding at the end of 2008. If its Net earnings that year is equal to $10 million out of which it distributes dividends equivalent to $5 million, what is the earnings per share for the firm? What is dividends per share?
Related Book For
Understanding Financial Accounting
ISBN: 9781119406921
2nd Canadian Edition
Authors: Christopher D. Burnley
Posted Date: