Well i cant seem to fcuk find the answer to this if you are accounting major and know the answer please help me out i have tried for the last 4hrs on this question and nothing is working!
Land: 42500
Building:197550
Salaries Expenses: 125350
Utility Expenses:5250
Accounts Payable: 38050
Revenues: 389950
Supplies:72500
Retained Earing [1/1/06]: 311000
capital stock [2000 shares outstanding]:65000
accounts recieveable: 90000
supplies expense: 110600
Cash:_____?
notes payable [long term] 63800
rent expenese 21200
divdends in 2006: 95500
other expense: 11250
income taxes: 35000
ok here the question:
give the
Current assets
long term assets
current liablities
long term liablities
Owners equity
Please show me how you got the anwers if you can i would like to know how to do it so i can get a good grade on the midterms lolz
Thank in advance.
i dont really care for the categories, and i really rushed through it, but here you go:
Land: 42500 asset, long term
Building:197550 asset, long term
Salaries Expenses: 125350 liability, short term
Utility Expenses:5250 liability, short term
Accounts Payable: 38050 liability, short term
Revenues: 389950 owners equity
Supplies:72500 assets, short term
Retained Earing [1/1/06]: 311000 owners equity
capital stock [2000 shares outstanding]:65000 owners equity
accounts recieveable: 90000 assets, short term
supplies expense: 110600 liabilities, short term
Cash:_____? asset
notes payable [long term] 63800 liabilities, long term
rent expenese 21200 liabilities, short term
divdends in 2006: 95500 owners equity/liability
other expense: 11250 liabilities, short term
income taxes: 35000 owners equity
if it doesnt balance, then i mixed one up in my haste.
i hate accounting, but unfortunately i have to work with them every day.
dude, if you cant figure these out drop now. Simple definitions, Long term means more than one year. Current means you are holding it, or are due to receive it in the foreseable future.
dude, seriously… i hope you are a marketing major or something stupid… otherwise you are screwed in business. your fucking book will answer that question for you, open it up and check… you failed once… :bloated: nevermind…
io shit i got the same teacher…but im stuck nothing seems to fit in you konw what i mean? its confusing i know the basics but all the answer are like crazy off from my figures shahha
ok here is the answer.
i basically guessed…if anyone can figure out how to calculated it that would help alot!
Total current assets
$223,600
Total long-term assets
$240,050
Total current liabilities
Select an answer below…
$38,050
Total long-term liabilities
$63,800
Owners’ equity
$361,800
^^^ya i dropped accounting at canisius. i had Davis…angriest guy i ever met. thta class was rediculous. on the bright side, it set me up for MGA 201 when i transfered to UB, which was a breeze after that experience