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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​
    #26546
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