Reference no: EM13706125
Balance sheet preparation
Adam and Arin Adams have collected their personal asset and liability information and asked you to put together a balance sheet as of December 31,2015. The following information is received from the Adams family.
Cash $300 Retirement funds, IRA $2,000
Checking 3,000 2014 Sebring 15,000
Savings 1,200 2010 Jeep 8,000
IBM stock 2,000 Money market funds 1,200
Auto loan 8,000 Jewelry and artwork 3,000
Mortgage 100,000 Net worth 76,500
Medical bills payable 250 Household furnishings 4,200
Utility bills payable 150 Credit card balance 2,000
Real estate 150,000 Personal loan 3,000
a. Create a personal balance sheet as of December 31, 2015. It should be similar to a corporate balance to a corporate balance sheet.
b. What must the total assets of the Adams family be equal to by December 31, 2015?
c. What was their net working capital (NWC) for the year? (Hint: NWC is the difference between total liquid assets and total current liabilities.)
|
What is the optimal production quantity for the card
: What is the optimal production quantity for the card - Los Angeles, Santa Monica, Hollywood, and Pasadena. Based on past data, the number of customers from each of the four regions is normally distributed with mean 4,700 and standard deviation 700.
|
|
What is the discounted payback period
: Scott is considering a project that will produce cash inflows of $2,100 a year for 4 years. The project has a 12 percent required rate of return and an initial cost of $6,000. What is the discounted payback period?
|
|
Review news clips from major news outlets
: Review news clips from major news outlets (US or international, your choice) reporting on your selected disease, preferably produced when the outbreak was at phase 4-6 of the WHO scale.
|
|
What makes for a good investment
: What makes for a good investment? Use the approximate yield formula or a financial calculator to rank the following investments according to their expected returns.
|
|
Balance sheet preparation
: Adam and Arin Adams have collected their personal asset and liability information and asked you to put together a balance sheet as of December 31,2015. The following information is received from the Adams family.
|
|
Income statement preparation
: On December 31,2015, Cathy Chen, a self-employed certified public accountant (CPA), completed her first full year in business. During the year, she billed $360,000 for her accounting services. She had two employees, a bookkeeper and a clerical ..
|
|
Depreciation and accounting cash flow
: A firm in the third year of depreciating its only asset, which originally cost $180,000 and has a 5-year MACRS recovery period, has gathered the following data relative to the current year's operations.
|
|
What is your kantian view on social media privacy
: What is your Kantian view on social media privacy?
|
|
How might congressman steve king respond
: How might Congressman Steve King respond to "Brutus'" statements on natural rights? Answer in a minimum of three complete sentences using supporting evidence from the lesson.
|