Chap 2 Word Problems - Chapter 2 Word Problems Name

Chap 2 Word Problems
Download Document
Showing pages : 1 - 2 of 3
This preview has blurred sections. Sign up to view the full version! View Full Document
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
Background image of page 1
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.
Ask a homework question - tutors are online