Firm has long-term debt of 76445 common stock of 200000 and, Ask an Expert

Accounting

1) Tumbling Haven, gymnastic equipment manufacturer, has given the information to its accountants. Company had present assets of= $145,332, net fixed assets of= $356,190, and other assets of= $4,176. Firm has long-term debt of= $76,445, common stock of= $200,000, and retained earnings of= $134,461. Determine the amount of current liabilities does this firm have?

a. $94,792

b. $505,678

c. $171,217

d. None of the above

2) Teakap, Inc., has present assets of= $ 1,456,312 and total assets of= $4,812,369 for year ending September 30, 2006. It also has present liabilities of= $1,041,012, common equity of= $1,500,000, and retained earnings of $1,468,347. How much long-term debt does firm have?

a. $1,844,022

b. $2,303,010

c. $2,123,612

d. $803,010

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M916826

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