Reference no: EM133133461
Question - Part One - The following information is taken from the records of Ginger Consulting.
Accounts Payable $19,430
Short-Term Investments $28,330
Land $18,110
Cash $6,620
Factory Equipment $34,170
Notes Payable $24,480
Office Furniture $27,470
Prepaid Expenses $29,560
Unearned Revenue $6,470
Required -
a) Calculate total current assets.
b) Calculate total noncurrent assets.
c) Calculate total assets.
Part Two - Renegade Landscaping's general ledger includes the following account balances on December 31, 2018.
Accounts Payable $10,960
Interest Payable $1,000
Salaries Payable $10,010
Notes Payable, Current Portion $13,950
Notes Payable, Long-Term Portion $13,950
Required -
a) Calculate current liabilities.
b) Calculate long-term liabilities.