FINANCIAL+MANAG.ACCT.
9th Edition
ISBN: 9781260728774
Author: Wild
Publisher: RENT MCG
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 1, Problem 7QS
Applying the
- Total assets of Charter Company equal $700,000 and its equity is $420,000. What is the amount of its liabilities?
- Total assets of Martin Marine equal $500,000 and its liabilities and equity amounts are equal to each other.
What is the amount of its liabilities? What is the amount of its equity?
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
a. Total assets of Charter Company equal $700,000 and its equity is $420,000. What is the amount of its liabilities?
b. Total assets of Martin Marine equal $500,000 and its liabilities and equity amounts are equal to each other. What is the amount of its
liabilities? What is the amount of its equity?
a.
b.
Assets
$ 700,000 =
$ 500,000 =
=
Liabilities
+
+
+
$
Equity
420,000
Consider this simplified balance sheet for Geomorph Trading:
Current assets
Long-term assets
$ 245 Current liabilities
Long-term debt
630
Other liabilities
Equity
$ 875
Required:
a. What is the company's debt-equity ratio? (Hint: debt = Current liabilities, Long-term debt, and Other liabilities)
Note: Round your answer to 2 decimal places.
b. What is the ratio of total long-term debt to total long-term capital?
Note: Round your answer to 2 decimal places.
c. What is its net working capital?
d. What is its current ratio?
Note: Round your answer to 2 decimal places.
$ 170
215
140
350
$ 875
a Debt-equity ratio
b. Long-term debt-to-capital ratio
c. Net working capital
d. Current ratio
Question 6 of 10
A company has total assets of $600,000 and total liabilities of $200,000. What is the company's
Debt Ratio?
O Debt Ratio = $400,000 (Total Assets – Total Liabilities)
O Debt Ratio = 3 (Total Assets/Total Liabilities)
O Debt Ratio = 0.33 (Total Liabilities / Total Assets)
O Debt Ratio = $800,000 (Total Assets + Total Liabilities)
Next
P Type here to search
144
&
#
$
8
67
E
GS
K
SE
11
B.
at gr
Σ
Z.
4,
Chapter 1 Solutions
FINANCIAL+MANAG.ACCT.
Ch. 1 - Prob. 1QSCh. 1 - Prob. 2QSCh. 1 - Prob. 3QSCh. 1 - Prob. 4QSCh. 1 - Prob. 5QSCh. 1 - Prob. 6QSCh. 1 - Applying the accounting equation A1 Total assets...Ch. 1 - Applying the accounting equation A1 Use the...Ch. 1 - Prob. 9QSCh. 1 - Identifying effects of transactions using...
Ch. 1 - Identifying effects of transactions using...Ch. 1 - Prob. 12QSCh. 1 - Prob. 13QSCh. 1 - Identifying assets, liabilities, and equity P2...Ch. 1 - Prob. 15QSCh. 1 - Prob. 16QSCh. 1 - Prob. 17QSCh. 1 - Prob. 18QSCh. 1 - Prob. 19QSCh. 1 - Prob. 20QSCh. 1 - Prob. 21QSCh. 1 - Prob. 1ECh. 1 - Exercise 1-2 Identifying accounting users and uses...Ch. 1 - Prob. 3ECh. 1 - Prob. 4ECh. 1 - Prob. 5ECh. 1 - Prob. 6ECh. 1 - Prob. 7ECh. 1 - Prob. 8ECh. 1 - Exercise 1-8 Using the accounting equation A1...Ch. 1 - Exercise 1-9 Using the accounting equation...Ch. 1 - Prob. 11ECh. 1 - Exercise 1-10 Analysis using the accounting...Ch. 1 - Exercise 1-11 Identifying effects of transactions...Ch. 1 - Prob. 14ECh. 1 - Exercise 1-13 Identifying effects of transactions...Ch. 1 - Prob. 16ECh. 1 - Prob. 17ECh. 1 - Prob. 18ECh. 1 - Prob. 19ECh. 1 - Prob. 20ECh. 1 - Prob. 21ECh. 1 - Prob. 22ECh. 1 - Prob. 23ECh. 1 - Prob. 24ECh. 1 - Prob. 25ECh. 1 - Problem 1-1A Identifying effects of transactions...Ch. 1 - Problem 1-2A Computing missing information using...Ch. 1 - Prob. 3PSACh. 1 - Problem 1-4A preparing a statement of retained...Ch. 1 - Problem 1-5A Preparing a balances sheet P2
Use the...Ch. 1 - Problem 1-6A Preparing a statement of cash flows...Ch. 1 - Problem 1-7A Analyzing transactions and preparing...Ch. 1 - Problem 1-8.4 Analyzing effects of transactions C4...Ch. 1 - Prob. 9PSACh. 1 - Prob. 10PSACh. 1 - Prob. 11PSACh. 1 - Prob. 1PSBCh. 1 - Problem 1-2B Computing missing information using...Ch. 1 - Prob. 3PSBCh. 1 - Prob. 4PSBCh. 1 - Problem 1-5B Preparing a balance sheet P2 Use the...Ch. 1 - Prob. 6PSBCh. 1 - Prob. 7PSBCh. 1 - Problem 1-8B Analyzing effects of transactions C4...Ch. 1 - Prob. 9PSBCh. 1 - Prob. 10PSBCh. 1 - Prob. 11PSBCh. 1 - Prob. 1SPCh. 1 - Prob. 1.1AACh. 1 - Prob. 1.2AACh. 1 - Prob. 1.3AACh. 1 - Prob. 1.4AACh. 1 - Prob. 2.1AACh. 1 - Prob. 2.2AACh. 1 - Prob. 2.3AACh. 1 - Prob. 2.4AACh. 1 - Prob. 2.5AACh. 1 - Prob. 3.1AACh. 1 - Prob. 3.2AACh. 1 - Prob. 3.3AACh. 1 - Prob. 1DQCh. 1 - Technology is increasing used to process...Ch. 1 - Prob. 3DQCh. 1 - What are at least three questions business owners...Ch. 1 - Prob. 5DQCh. 1 - Describe the internal role of accounting for...Ch. 1 - 7. Identify three types of services typically...Ch. 1 - Prob. 8DQCh. 1 - Prob. 9DQCh. 1 - 10. What are some accounting-related professions?
Ch. 1 - Prob. 11DQCh. 1 - Prob. 12DQCh. 1 - Prob. 13DQCh. 1 - Prob. 14DQCh. 1 - Prob. 15DQCh. 1 - Prob. 16DQCh. 1 - Prob. 17DQCh. 1 - Prob. 18DQCh. 1 - Prob. 19DQCh. 1 - Prob. 20DQCh. 1 - Prob. 21DQCh. 1 - Prob. 22DQCh. 1 - Prob. 23DQCh. 1 - Prob. 24DQCh. 1 - Prob. 25DQCh. 1 - Prob. 26DQCh. 1 - Prob. 27DQCh. 1 - Define and explain return on assets.Ch. 1 - Prob. 1BTNCh. 1 - Prob. 2BTNCh. 1 - Prob. 3BTNCh. 1 - Prob. 4BTN
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Accounting equation The total assets and total liabilities (in millions) of McDonalds Corporation (MCD) and Star-bucks Corporation (SBUX) follow:arrow_forwardIf a business has the following balances, what would be the amount of total liabilities?ASSETSCash $ 5000Accounts Receivable 2575Equipment 14000OWNER'S EQUITYAnne Miller, Capital 2600arrow_forwardAssuming a business entity has a total asset of 25,000,000 its total liabilities is 1/3 of the said amount. How much is the equity? 16,000,000,00 16,666,666.67 13,333,333.33 13,000,000.00arrow_forward
- Simple Accounting – Balance Sheet. Assets Liabilities Shareholders' Equity $567,005.00 $389,055.00 O a. $567,005.00 O b. $389,055.00 O c. $177,950.00 O d. $744,955.00arrow_forwarda. Total assets of Charter Company equal $760,000 and its equity is $450,000. What is the amount of its liabilities?arrow_forwardConsider this simplified balance sheet for Geomorph Trading: Current assets Long-term assets $ 110 510 Net working capital $ 620 a. Debt-equity ratio b Long-term debt-to-capital ratio C. d. Current ratio a. What is the company's debt-equity ratio? (Round your answer to 2 decimal places.) b. What is the ratio of total long-term debt to total long-term capital? (Round your answer to 2 decimal places.) c. What is its net working capital? d. What is its current ratio? (Round your answer to 2 decimal places.) Current liabilities Long-term debt Other liabilities Equity $ 65 275 80 200 $ 620arrow_forward
- PLS HELP ASAP The balance sheet of Sunrise Company shows that capital P360,000 is equal to ⅓ of its total assets. How much is total liabilities? a. P480,000 b. P720,000 c. P1,080,000 d. P120,000arrow_forwardQ. 6 You are examining a company’s balance sheet and find that it has a total assets of $@0,572, a cash balance of $2,208, inventory of $4,913, current liabilities of $5,829 and accounts receivable of $2,727. What is the company’s net working capital? A. $894 B. $1,811 C. $5,807 D. $14,743 E. $4,019arrow_forward26 Assume that the total assets, liabilities, Equity of the firm are OMR 40000, OMR 10000 and OMR 30000 respectively.The company sold OMR 3000 furniture for its customer and received notes receivables for OMR 4500. What is the effect of the above transaction on different elements of financial position of the company? a. Assets of the company increase by OMR 4500 and capital of the company increase by OMR 4500 b. Assets of the company decrease by OMR 3000 and capital of the company decrease by OMR 3000 c. None of the given options d. Assets of the company increase by OMR 1500 and capital of the company increase by OMR 1500 Clear my choice ◀︎ Practice problems on chapter -5 and 6arrow_forward
- What amount of investment income will Pinta record during 20y4 under the equity method of accounting? A. 12,800 B. 9,200 C. 15,600 D. 3,600arrow_forwardwww.downloadslide.net 36 1 Accounting in Action (c) The total assets of Shumway Company Ltd. are £600,000 and its liabilities are equal to one half of its total assets. What is the amount of Shumway Company Ltd.'s equity? BE1-3 At the beginning of the year, Gonzales Company SLU had total assets of €870,000 and total liabilities of €500,000. Answer the following questions. (a) If total assets increased €l150,000 during the year and total liabilities decreased €80,000, what is the amount of equity at the end of the year? (b) During the year, total liabilities increased €100,000 and equity decreased €55,000. What is the amount of total assets at the end of the year? Use basic accounting eguation cob (LO 6) r uhat IS e amount of total liabiliues at the end of the ycar? BE1-4 Use the accounting equation to answer each of the following questions. (a) The liabilities of Alli Company Ltd. are £90,000. Share capital-ordinary is £150,000; dividends are £40,000; revenues, £450,000; and expenses,…arrow_forwardQ.1 A company has the following data: current asset $3500, net non-current assets $24000, current liabilities $3250 and non-current debt $9500. What is the value of the shareholders' equity for this company? How much is net working capital? I 0arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Financial And Managerial AccountingAccountingISBN:9781337902663Author:WARREN, Carl S.Publisher:Cengage Learning,
Financial And Managerial Accounting
Accounting
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:Cengage Learning,
The ACCOUNTING EQUATION For BEGINNERS; Author: Accounting Stuff;https://www.youtube.com/watch?v=56xscQ4viWE;License: Standard Youtube License