User Account

All Pages

Determine the current assets balance sheet items

Assignment Help Financial Accounting
Reference no: EM132893317

The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventory.

The December 31, 2021, balance sheet revealed the following:

Inventory $890,000

Total assets $3,500,000

Current ratio 2.40

Acid-test ratio 1.40

Debt to equity ratio 1.5

Required:

Problem 1: Determine the following 2021 balance sheet items:

1.1. Current Assets:
1.2. Shareholders' equity:
1.3. Long-Term assets:
1.4. Long-Term liabilities:

Reference no: EM132893317

Questions Cloud

Prepare the adjusting entry for november : Prepare the adjusting entry for November 30, 2020 assuming the entity is using EXPENSE METHOD in recording its prepayments.
Addresses a theory of social behavior : Discuss how social media communication addresses a theory of social behavior and the social environment - how the chosen social media or online tool
How much is the depreciation expense for andy lim : How much is the depreciation expense? Andy Lim purchased a delivery vehicle on January 1, 2020 amounting to P 250,000. It is estimated that the vehicle
Traits or characteristics regarding servant leadership : Of the various leadership approaches discussed in chapter 8 and in videos on Moodle page, which one would you most prefer your boss to use in working
Determine the current assets balance sheet items : Determine the Current Assets 2021 balance sheet items. The current asset section of the Excalibur Tire Company's balance sheet consists of cash.
What is the consequence of missing : In 2015, Erin O'Toole made Home Buyer's Plan (HBP) withdrawals that totalled $18,000. Relative to the 2020 taxation year, Mr. O'Toole failed to make his regular
Describe how the principle you chose could be used : Identify which one resonates with you. Explain why. Propose an example of a situation in supervision and describe how the principle you chose could be used
Personal learning and professional development needs : How can employees address identified learning and professional development needs and what things should they take into consideration?
What was the percentage change in the cost of purchased : What was the percentage change in the cost of purchased oil products when comparing nine months ended September 30, 2013 versus the same period in 2012?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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