# Need Help with MGA201: Accounting Class!!! **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [September 7, 2006, 3:37pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131 "2006-09-07T15:37:22Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![SilverGT](https://avatars.discourse-cdn.com/v4/letter/s/8dc957/32.png) [@SilverGT](https://forums.speedlife.net/u/SilverGT)\ **Post date:** [September 7, 2006, 3:37pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/1 "2006-09-07T15:37:22Z")
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 1. Current assets 2. long term assets 3. current liablities 4. long term liablities 5. 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. ---
**Author:** ![redrum](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/redrum/32/7398_2.png) [@redrum](https://forums.speedlife.net/u/redrum)\ **Post date:** [September 7, 2006, 4:17pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/2 "2006-09-07T16:17:38Z")
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. ---
**Author:** ![FightinMike](https://avatars.discourse-cdn.com/v4/letter/f/7bcc69/32.png) [@FightinMike](https://forums.speedlife.net/u/FightinMike)\ **Post date:** [September 7, 2006, 4:29pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/3 "2006-09-07T16:29:35Z")
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. ---
**Author:** ![SilverGT](https://avatars.discourse-cdn.com/v4/letter/s/8dc957/32.png) [@SilverGT](https://forums.speedlife.net/u/SilverGT)\ **Post date:** [September 7, 2006, 5:28pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/4 "2006-09-07T17:28:32Z")
Lol I already failed last semester so this is my last chance hahahah I under stand it but when I do it nothing balanced out hahah ---
**Author:** ![JCuz](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jcuz/32/7338_2.png) [@JCuz](https://forums.speedlife.net/u/JCuz)\ **Post date:** [September 7, 2006, 5:38pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/5 "2006-09-07T17:38:04Z")
i took that last semester, got a b and forgot everything about it as I usually do with most classes ---
**Author:** ![sureshot](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/sureshot/32/7578_2.png) [@sureshot](https://forums.speedlife.net/u/sureshot)\ **Post date:** [September 7, 2006, 5:50pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/6 "2006-09-07T17:50:10Z")
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… ---
**Author:** ![fbrendan](https://avatars.discourse-cdn.com/v4/letter/f/d26b3c/32.png) [@fbrendan](https://forums.speedlife.net/u/fbrendan)\ **Post date:** [September 7, 2006, 5:52pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/7 "2006-09-07T17:52:57Z")
I hated accounting. Alot. Post 2 def looks right. See if it balances. ---
**Author:** ![SilverGT](https://avatars.discourse-cdn.com/v4/letter/s/8dc957/32.png) [@SilverGT](https://forums.speedlife.net/u/SilverGT)\ **Post date:** [September 7, 2006, 6:53pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/8 "2006-09-07T18:53:18Z")
ok thid is complicated then it looks here are my choices for the answer to each one . Prepare a classified balance sheet as of December 31, 2006 Total current assets Select an answer below… $90,000 $223,600 $205,000 $162,500 $266,100 Total long-term assets Select an answer below… $463,650 $270,050 $312,550 $197,550 $240,050 Total current liabilities Select an answer below… $361,800 $103,050 $38,050 $101,850 $63,800 Total long-term liabilities Select an answer below… $0 $103,050 $101,850 $38,050 $63,800 Owners’ equity Select an answer below… $38,050 $103,050 $361,800 $101,850 $0 ---
**Author:** ![turbo\_ls1\_ss](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/turbo_ls1_ss/32/7303_2.png) [@turbo\_ls1\_ss](https://forums.speedlife.net/u/turbo_ls1_ss)\ **Post date:** [September 7, 2006, 6:59pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/9 "2006-09-07T18:59:33Z")
dude…MGA201 is soooooo much easier tham ACC201 at canisius…whos ur teacher… i had anderson, she was coo ---
**Author:** ![SilverGT](https://avatars.discourse-cdn.com/v4/letter/s/8dc957/32.png) [@SilverGT](https://forums.speedlife.net/u/SilverGT)\ **Post date:** [September 7, 2006, 7:01pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/10 "2006-09-07T19:01:57Z")
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 ---
**Author:** ![SilverGT](https://avatars.discourse-cdn.com/v4/letter/s/8dc957/32.png) [@SilverGT](https://forums.speedlife.net/u/SilverGT)\ **Post date:** [September 7, 2006, 7:18pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/11 "2006-09-07T19:18:52Z")
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 ---
**Author:** ![sureshot](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/sureshot/32/7578_2.png) [@sureshot](https://forums.speedlife.net/u/sureshot)\ **Post date:** [September 7, 2006, 7:25pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/12 "2006-09-07T19:25:49Z")
anderson is amazing… i love that lady ---
**Author:** ![turbo\_ls1\_ss](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/turbo_ls1_ss/32/7303_2.png) [@turbo\_ls1\_ss](https://forums.speedlife.net/u/turbo_ls1_ss)\ **Post date:** [September 7, 2006, 7:26pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/13 "2006-09-07T19:26:08Z")
arent u using personal trainer? ---
**Author:** ![sureshot](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/sureshot/32/7578_2.png) [@sureshot](https://forums.speedlife.net/u/sureshot)\ **Post date:** [September 7, 2006, 7:27pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/14 "2006-09-07T19:27:52Z")
> [@turbo ls1 ss](#): > > dude…MGA201 is soooooo much easier tham ACC201 at canisius…whos ur teacher… > > i had anderson, she was coo i tutored canisius accouting students… what this man says is the motherfucking truth ---
**Author:** ![turbo\_ls1\_ss](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/turbo_ls1_ss/32/7303_2.png) [@turbo\_ls1\_ss](https://forums.speedlife.net/u/turbo_ls1_ss)\ **Post date:** [September 7, 2006, 7:45pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/15 "2006-09-07T19:45:28Z")
^^^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 ---
**Author:** ![walter](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/walter/32/7202_2.png) [@walter](https://forums.speedlife.net/u/walter)\ **Post date:** [September 7, 2006, 7:48pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/16 "2006-09-07T19:48:34Z")
put halo lights on it and you’ll figure it out :lol:at you having problems with this ---
**Author:** ![SilverGT](https://avatars.discourse-cdn.com/v4/letter/s/8dc957/32.png) [@SilverGT](https://forums.speedlife.net/u/SilverGT)\ **Post date:** [September 7, 2006, 7:53pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/17 "2006-09-07T19:53:10Z")
hahah :lol: i seem to figure anything out but school owns me ---
**Author:** ![n20junkie](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/n20junkie/32/7396_2.png) [@n20junkie](https://forums.speedlife.net/u/n20junkie)\ **Post date:** [September 7, 2006, 8:04pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/18 "2006-09-07T20:04:21Z")
I took that crap online, got an A, all i had was a book, its all in there ---
**Author:** ![Z\_PHAT\_Z](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/z_phat_z/32/7293_2.png) [@Z\_PHAT\_Z](https://forums.speedlife.net/u/Z_PHAT_Z)\ **Post date:** [September 7, 2006, 8:08pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/19 "2006-09-07T20:08:26Z")
Just drop the class/major and stop wasting your time and money :gotme: ---
**Author:** ![sureshot](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/sureshot/32/7578_2.png) [@sureshot](https://forums.speedlife.net/u/sureshot)\ **Post date:** [September 7, 2006, 8:12pm UTC](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131/20 "2006-09-07T20:12:21Z")
> [@SilverGT](#): > > hahah :lol: i seem to figure anything out but school owns me did you figure out how to tastefully mod your stang yet? [Next page](https://forums.speedlife.net/t/need-help-with-mga201-accounting-class/17131.md?page=2)