Tag: Liabilities
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Explain how assets, liabilities and net worth fit together.
Discussion Post Explain how assets, liabilities and net worth fit together.
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If the following financial information related to XYZ Company. Total Revenues last year $970, depreciation expenses $50, costs of goods sold $450, and interest expenses $55. At the end of the year, current assets were $121 and current liabilities were $107. The company has an average tax rate of 35%. Calculate the net income for XYZ Company by setting up an income statement.
Business Question A company had cash and marketable securities worth $200,000 accounts payables worth $51,000, inventory of $1,501,500, accounts receivables of $5,288,128, short-term notes payable worth $220,000, other current liabilities of 100,000, and other current assets of $121,800. Calculate the company net working capital and describe how managers manage the firm working capital. (2 Marks)…
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Which type of ratio is best suited for an outside potential investor?
Income Statement Revenues: 28,000 Less: Operating Expenses Rent Expense 1,200 Salaries Expense 4,500 Utilities Expense 300 Insurance Expense 100 Supplies Expense 400 Depreciation Expense 500 7,000 7,000 21,000 Balance Sheet Assets: Cash 101,800 Accounts Receivable 20,000 PP In 1,100 Supplies 2,600 Equipment 55,000 Accumulated Depreciation (500) Total Assets 180,000 Liabilities and Stockholders’ Equity Liabilities: Accounts…