Solution-What is the credit amount for long term liabilities

What is the credit amount for long term liabilities

Assignment Help Accounting Basics

Reference no: EM131588590

Question - The following data is given for Clipper Co.

TOTAL CURRENT ASSETS	$36,000
ACCUMULATED DEPRECIATION	$ 5,000
TOTAL LIABILITIES	$52,000
DEBT RATIO	80%
CURRENT RATIO	1.20

A. Using the information above, compute the dollar amounts for the Balance Sheet below.

CURRENT ASSETS		$
PROPERTY, PLANT & EQUIPMENT	$
LESS ACCUMULATED DEPRECIATION	$	$
TOTAL ASSETS		$

CURRENT LIABILITIES		$
LONG TERM LIABILITIES		$
STOCKHOLDERS' EQUITY		$
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY		$

What is the Credit amount for Long Term Liabilities?

What is the Debit amount for Property, Plant & Equipment?

What is the Credit amount for Total Assets? Hint: Use the Debt Ratio to calculate.

What is the Credit amount for Current Liabilities? Hint: Use the Current Ratio to calculate

What is the Credit amount for Stockholders' Equity?

What is the Credit amount for Total Liabilities & Stockholders' Equity?

Reference no: EM131588590

Questions Cloud

Evaluate the planning function of management : Imagine you are an executive for a Fortune 500 company, Evaluate the planning function of management as it relates to the organization's goals and strategies

Compare job costing with process costing : Compare job costing with process costing. Looking at Q10-4above, if expected sales are 50,000 units what is the margin of safety?

Describe how the hpa axis regulates our response to stress : Briefly describe how the HPA axis regulates our response to stress. Include the hormones and neurotransmitters that are released

Write a class named player that stores a players name : Write a class named Player that stores a players name and the players high score - Write a class that manages a list of up to 10 players and their high scores

What is the credit amount for long term liabilities : What is the Credit amount for Long Term Liabilities? What is the Debit amount for Property, Plant & Equipment

Describe how each theory explains why mismatched levels : describe how each theory explains why mismatched levels of power within society need to be maintained. Do you agree. Why

What is the primary basis of accounting for inventories : What is the primary basis of accounting for inventories? What is major advantage and major disadvantage of specific identification method of inventory costing?

Best practices for comprehensive tobacco control programs : Discuss each of the six skills of a good leader from the Best Practices for Comprehensive Tobacco Control Programs

What are the definitions of a control deficiency : What are definitions of a control deficiency, significant deficiency and material weakness as contain in AS5? Identify significant accounts for Sarbox Scooter.

User Account

All Pages

What is the credit amount for long term liabilities

Reference no: EM131588590

Reference no: EM131588590

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT