Home / Expert Answers / Finance / balance-sheet-the-assets-of-dallas-amp-associates-consist-entirely-of-current-assets-and-net-plan-pa660

(Solved): BALANCE SHEET The assets of Dallas & Associates consist entirely of current assets and net plan ...



BALANCE SHEET

The assets of Dallas & Associates consist entirely of current assets and net plant and equipment. The firm has total assets of $2.9 million and net plant and equipment equals $2.4 million. It has notes payable of $150,000, long-term debt of $747,000, and total common equity of $1.45 million. The firm does have accounts payable and accruals on its balance sheet. The firm only finances with debt and common equity, so it has no preferred stock on its balance sheet.

Write out your answers completely. For example, 25 million should be entered as 25,000,000. Enter negative amounts, if any, with a minus sign.

What is the company's total debt?
$

What is the amount of total liabilities and equity that appears on the firm's balance sheet?
$

What is the balance of current assets on the firm's balance sheet?
$

What is the balance of current liabilities on the firm's balance sheet?
$

What is the amount of accounts payable and accruals on its balance sheet? [Hint: Consider this as a single line item on the firm's balance sheet.]
$

What is the firm's net working capital?
$

What is the firm's net operating working capital?
$

What is the monetary difference between your answers to part f and g?
$

What does this difference indicate?
-Select-The difference indicates Notes payable balanceThe difference indicates Accounts payable balanceThe difference indicates Current liabilities balanceItem 9



We have an Answer from Expert

View Expert Answer

Expert Answer


Step 1Given,Plant and equipment = $2,400,000Current assets = total assets - plant and equipment =$2,900,000 - $2,400,000
We have an Answer from Expert

Buy This Answer $5

Place Order

We Provide Services Across The Globe