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(Solved) A firm has common stock of $92, paid-in surplus of $290, total


A firm has common stock of $92, paid-in surplus of $290, total liabilities of $420, current assets of $410, and net fixed assets of $620. What is the amount of the shareholders' equity?

Multiple Choice:

A) $802

B) $610

C) $200

D)$1,030

E) $540


Recently, the owner of Martha's Wares encountered severe legal problems and is trying to sell her business. The company built a building at a cost of $1,290,000 that is currently appraised at $1,490,000. The equipment originally cost $770,000 and is currently valued at $517,000. The inventory is valued on the balance sheet at $460,000 but has a market value of only one-half of that amount. The owner expects to collect 99 percent of the $250,200 in accounts receivable. The firm has $11,000 in cash and owes a total of $1,490,000. The legal problems are personal and unrelated to the actual business. What is the market value of this firm?

Multiple Choice:

A)$1,945,898

B)$747,000

C)$1,005,698

D)$1,485,898

E)$1,235,698


Ivan's, Inc. paid $484 in dividends and $587 in interest this past year. Common stock increased by $197 and retained earnings decreased by $123. What is the net income for the year?

Multiple Choice

A)$361

 


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Oct 15, 2019

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