Question: Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $20,000 and has cash on hand of $29,000 contributed by

Lanni Products is a start-up computer software development firm. It currently

Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $20,000 and has cash on hand of $29,000 contributed by Lanni's owners. Lanni takes out a bank loan. It receives $31,000 in cash and signs a note promising to pay back the loan over 3 years. a-1. Prepare the balance sheet just after it gets the bank loan. Assets Cash Liabilities & Shareholders' Equity Bank loan Shareholders' equity Total Computers Total a-2. What is the ratio of real assets to total assets? (Round your answer to 2 decimal places.) Ratio of real assets to total assets 0.01

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $30,000 and has cash on hand of $20,000 contributed by Lanni's owners. Lanni takes out a...

Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $19, 000 and has cash on hand of $30, 000 contributed by Lanni's owners. For each of the...

stock Question Number One Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $30,000 and has cash on hand of $20,000 contributed by Lanni's...

ok nces Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $30,000 and has cash on hand of $20,000 contributed by Lanni's owners. Choose the...

Options: Financial Asset, Financial Liability, Real Asset, Real Liability. The new financial asset is (Destroyed or Created) Lanni's promissory note held by the bank. A new financial asset is...

Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $30,000 and has cash on hand of $20,000 contributed by Lanni's owners. Choose the correct...

Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $28,000 and has cash on hand of $21,000 contributed by Lanni's owners. For each of the...

nces Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $30,000 and has cash on hand of $20,000 contributed by Lanni's owners. Choose the...

Options: Financial Asset, Financial Liability, Real Asset, Real Liability. The new financial asset is (Destroyed or Created) Lanni's promissory note held by the bank. A new financial asset is...

Problem 1-10 Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $30,000 and has cash on hand of $20,000 contributed by Lanni's owners. Lanni...

The accompanying data on degree of spirituality for a sample of natural scientists and a sample of social scientists working at research universities appeared in the paper Conflict Between Religion...

Let X1,..., X, is a random sample from a population with the cumulative distribution function (CDF) F(x; 0) = (1 e=), x > 0, 0 > 0, and probability density function (pdf) f(x;0) = 0e*(1 e*)-1. x >...

Which of the following codes can generate the graph shown below? projectData % % ggplot ( aes reorder ( department , desc ( size ) ) , y = size, fill = department

1 . 3 Analyze how Thrivetech's customer - centric approach has affected its operational and decisionmaking procedures specifically. Examine how the organization's decision - making and operational...

LO7 Explain how data and analytics has contributed to enhancing HR service delivery.

What recommendations would you make for Shea to improve her implementation of job rotation? How could she make the system fair to all employees (including Angelo following his absence)?

LO5 Identify solutions to shortages or surpluses of human resources.