Chap 2 Word Problems

# Chap 2 Word Problems - Chapter 2 Word Problems Name The...

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Name ___________________________ The following problems are assigned as homework. You will notice that the correct answer is highlighted; however, you must show the work to arrive at the answer. 54. Highland, Inc. has total assets of \$16,200, net working capital of \$3,900, owner's equity of \$8,500, and long-term debt of \$6,000. What is the value of the current assets? a. \$2,500 B . \$5,600 c. \$6,300 d. \$9,900 e. \$10,200 60. Joe's Store has net working capital of \$1,800, total assets of \$12,600, and net fixed assets of \$9,700. What is the value of the current liabilities? A . \$1,100 b. \$2,900 c. \$4,700 d. \$7,900 e. \$10,800 66. The owners' equity in Jack's Taylor Shop was \$31,300 at the beginning of the year. During the year, the company had after tax income of \$4,900, of which \$1,600 was paid in dividends. Also during the year, the company repurchased \$2,000 of stock from one of the shareholders. What is the value of the owners' equity at year end? A

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## This note was uploaded on 04/08/2013 for the course FINANCE 101 taught by Professor Johnston during the Spring '13 term at USC.

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Chap 2 Word Problems - Chapter 2 Word Problems Name The...

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