Calculate the amount of cash

Assignment Help Accounting Basics
Reference no: EM132549703

Question - Circle-Square Ltd. is in the process of liquidating and going out of business. The firm's balance sheet shows $22,240 in cash, accounts receivable of $110,200, inventory totaling $62,100, plant and equipment of $254,000, and total liabilities of $308,800. It is estimated that the inventory can be disposed of in a liquidation sale for 75 percent of its cost, all but 5 percent of the accounts receivable can be collected, and plant and equipment can be sold for $181,864.

Required - Calculate the amount of cash that would be available to the owners if the accounts receivable are collected, the other assets are sold as described, and the liabilities are paid off in full. Indicate the financial statement effect.

Reference no: EM132549703

Questions Cloud

What questions can a break-even chart : What questions can a break-even chart answer? Provide a formula to determine the break-even point of an operation and provide the suitable example.
Discuss ways that hospital might measure quality : Discuss ways that a hospital might measure quality. Analyze the methods Memorial could use to assess the quality of health care it is providing.
How much interest after-tax would Dana earn : Dana intends to invest $44,000 in either a Treasury bond or a corporate bond. How much interest after-tax would Dana earn
Find what is the equivalent units for direct materials : Find What are the equivalent units for direct materials and conversion costs and their respective costs per equivalent unit for? February?
Calculate the amount of cash : Calculate the amount of cash that would be available to the owners if the accounts receivable are collected, the other assets are sold as described
Trade-offs between inputs for productivity improvements : Analyze the trade-offs between inputs for the productivity improvements. Analyze the advantages and disadvantages of global sourcing versus producing in the U.S
Summarize the physical flow of units : Summarize the physical flow of units and compute the equivalent units for direct material, direct labor, and overhead. Calculate the cost per equivalent unit
Acquisition experiences of kazoil : The case study to help answer this question is called The Acquisition Experiences of Kazoil
Outline the role of the fair work commission : Explain the purpose of the Australian Government's National Skill Needs List and how it can be used for workforce planning for organisation

Reviews

Write a Review

Accounting Basics Questions & Answers

  Discuss what is bubbles net profit margin

currently pays 35% of its operation profits in taxes and $200 per year in preferred dividends, then what is Bubble's net profit margin

  Compute the revised break-even point in units

Kent Manufacturing produces a product that sells for $50.00 and has variable costs of $24.00 per unit. Compute the revised break-even point in units

  Firm x and firm y are competitors within the same industry

firm x and firm y are competitors within the same industry. firm x produces its product using large amounts of direct

  Least effect on sample size

Which of the following has the least effect on sample size:

  What was concord corporation times interest earned

In a recent year Concord Corporation had net income of $141000, What was Concord Corporation's times interest earned (rounded) for the year

  Answer each query kayla mathews has submitted to you

kayla mathews is a lawyer. she was employed by a major corporation until march 21 2013. subsequently she started her

  Prepare a memo on accounting tax research project

Research the above issues and prepare a "memo to file" . Memo should have four sections: (1) facts, (2) issues (stated as questions), (3) conclusions.

  What is the average check per meal period

Tariq has invested $180,000 in a new Moroccan and Mediterranean family-style restaurant, of which $160,000 was immediately used to purchase equipment.

  What minimum amount of annual cash flows must be generated

Assuming the investment generates equivalent annual cash flows, what minimum amount of annual cash flows must be generated

  Management of youcpa

Review the educational and experience requirements to sit for the Uniform CPA Examination published by the Board of Accountancy for the State in which you intent to pursue licensure,

  What key assessment metrics in achieving operational project

Differentiate the key assessment metrics in achieving an operational project plan.organization uses steel at locations across the U.S.

  Why enron stock dropped so dramatically in such a short time

Enron Corporation, headquartered in Houston, Texas, provides products and services for natural gas, electricity, and communications to wholesale.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd