Calculate the amount of cash that would be available

Assignment Help Financial Accounting

Reference no: EM13144312

Ann Kimber is thinking about going out of business and retiring. Her firm has $25,000 in cash, other assets totaling $35,700, and total liabilities of $25,500. The other assets can be sold for an estimated $34,000 cash in a liquidation sale. Calculate the amount of cash that would be available upon Ann's retirement if the other assets were sold and the liabilities were paid off.

Reference no: EM13144312

Questions Cloud

Compare and contrast what leverage means : The term "leverage" is used in both finance and accounting. Compare and contrast what leverage means in managerial accounting (operating leverage) vs. what it means in the finance world (financial leverage). How are the concepts different? How are..

Vertical analysis of income statement data : Prepare a vertical analysis of the 2009 income statement data for Douglas Company and Maulder Company in columnar form. Comment on the relative profitability of the companies by computing the returnon assets and the return on common stockholders' eq..

Estimate for sampling error results : The estimate for sampling error results because the auditor has sampled only a portion of the population. Sampling error represents the:

Which implies a selling price : Randell Company issues 7%, 10-year bonds with a par value of $150,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8%, which implies a selling price of 93¼. The straight-line method is used to all..

Calculate the amount of cash that would be available : Calculate the amount of cash that would be available upon Ann's retirement if the other assets were sold and the liabilities were paid off.

Mental illness : Write three pages essay on how do mental illness affect children. please include reference ( APA style)

How do the various classifications of investments affect : How do the various classifications of investments affect financial statements? What is the rationale behind the different accounting methods for the various investment classifications?

How the deduction is calculated. : address in a conceptual manner how the deduction, assuming it is available, is calculated. At a minimum you should consult the following sources.

Determine the overhead cost per unit for product : Using the activity-based costing approach, determine the overhead cost per unit for each product.

User Account

All Pages