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  • Kathryn Longstaff

    Lesson 2.2 Activity 5, 6 and 7

    5.Compute the Total Assets from the following information

    1. Determine the total Current Assets and determine the total Current Liabilities.
    2. Prepare the Balance Sheet for the Village Inn. (see example on the VLE forum, and follow the same design)

    Calculate the Net Working Capital, the Current Ratio, and the Solvency Ratio using the information obtained in the Balance Sheet.

    Based on the results you obtained in the previous question, analyze the liquidity and solvency of the Village Inn.

     

    Accounts payable $77,000
    Accounts receivable 96,900​
    Accrued expenses 91,000​
    Accumulated depreciation 338,400​
    Additional Paid-In Capital 25,000 ​
    Building 1,786,400​
    Cash 47,800​
    Common stock 300,000​
    Current maturities of long-term debt 14,000​
    Furniture and fixtures 275,400​
    Inventories 19,900​
    Land 115,500​
    Long-term debt 1,527,000​
    Other assets 172,200​
    Other current liabilities 40,800​
    Prepaid expenses 2,400​
    Retained earnings 102,300​
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