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The balances of select accounts of Elliott Company as of December? 31, 2024 are given? below:
Notes Payable-short-term $1,100
Salaries Payable 3,000
Notes Payable-long-term 22,000
Accounts Payable 3,300
Unearned Revenue 3,000
Interest Payable 2,300
Problem 1: The Unearned Revenue is the amount of cash received for services to be rendered in January 2025. The Interest Payable is due on February? 15, 2025. What are the total current liabilities shown on the balance sheet at December? 31, 2024?
a. 5600
b. 10,400
c. 11,600
d. 12,700
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accounts payable is only used for inventory purchases. The following T-accounts reflect information contained in the company's 2014 and 2015 balance sheets.
Do need to do something with salary payable? NFP incurred salaries of $21,000 per month for the months of October thru December 2021.
Several years ago, a parent company acquired all of the outstanding common stock of its subsidiary for a purchase price of $275,000. On the acquisition date, this purchase price was $68,000 more than the subsidiary’s book value of Stockholders’ Equit..
Company earned ROI of 8.8%. Sales were $15,000,000 and avg asset turnover 2.2. Avg stockholders equity was $3.2 million. What is the margin %, net income and Return on equity?
Prepare the stockholders equity section of the balance sheet reflecting these transactions. Include the number of shares authorized, issued, and outstanding in the description of the common stock.
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