Question 6 correct mark 1000 out of 1000 flag

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Question 6 Correct Mark 10.00 out of 10.00 Flag question Question text In which order are current assets listed on the balance sheet? Select one: a. cash, inventories, short-term investments, accounts receivable b. cash, short-term investments, accounts receivable, inventories c. cash, accounts receivable, inventories, short-term investments d. cash, inventories, accounts receivable, short-term investments
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The correct answer is: cash, short-term investments, accounts receivable, inventories
Correct Marks for this submission: 10.00/10.00. Question 7 Correct Mark 10.00 out of 10.00 Flag question Question text If a company collects a $3,500 account receivable, what is the impact of this activity on the current ratio and the working capital, respectively? Select one:
Feedback Your answer is correct. The correct answer is: Current ratio: no impact Working capital: no impact Correct Marks for this submission: 10.00/10.00. Question 8 Correct Mark 10.00 out of 10.00 Flag question
Question text ABC Inc. was incorporated two years ago by issuing 5,000 shares of common stock at $400 each and borrowing $240,000 from a bank on a long-term note. Last year, ABC reported net income of $40,000 and paid a cash dividend of $1,800. During the year, the company also borrowed an additional $320,000 from the bank. What was total assets on ABC's balance sheet at the end of the year last year? Select one:
Feedback Your answer is correct. The correct answer is: $2,598,200 Correct Marks for this submission: 10.00/10.00. Question 9 Correct Mark 10.00 out of 10.00 Flag question Question text Below is selected financial information for Panettone, Inc. Balance Sheet ($ in Millions) Income Statement ($ in Millions) Assets Liabilities and Equity Sales 700 Current Assets Current Liabilities Cost of Goods Sold 700 Cash 500 Accounts Payable 400 Administrative Expenses 100 Accounts Receivable 200 Notes Payable 300 Depreciation 348
Inventory 500 Total Current Liabilities 700 Earnings Before Interest and Taxes - 448 Total Current Assets 1200 Long-Term Liabilities Interest Expense 100 Long-Term Debt 600 Taxable Income - 548 Fixed Assets Total Long-Term Liabilities 600 Taxes - 172 Property, Plant and Equip. 1000 Net Income - 376 Less Acc. Depreciation 300 Owners' Equity Dividends 0 Net Fixed Assets 700 Common Stock ($1 Par) 200 Addition to Retained Earnings - 376 Capital Surplus 300 Retained Earnings 100 Other Information Total Owners' Equity 600 No. of Shares Outstanding (Millions) 200 Total Assets 1900 Total Liab. and Equity 190 0 Price per Share 1.24 In the answer boxes below, select the right answer from the drop-down menu. Each answer is worth 2 points. Answers are rounded to two decimals.

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