Determine the noncurrent assets and long-term liabilities, Accounting Basics

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Determine the noncurrent assets and long-term liabilities

The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2011, balance sheet revealed the following:

Inventories $ 840,000
Total assets $2,800,000
Current ratio 2.25
Acid-test ratio 1.2
Debt to equity ratio 1.8

Determine the following 2011 balance sheet items:

1. Current assets
2. Shareholders' equity
3. Noncurrent assets
4. Long-term liabilities

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Accounting Basics: Determine the noncurrent assets and long-term liabilities

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Accounting Basics: Determine the noncurrent assets and long-term liabilities

Reference No:- TGS0686240

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Prepare a schedule of expected cash collections

Q : Calculate speed and strike

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Q : Determine the noncurrent assets and long-term liabilities

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Ask an Expert for Answer!!

Accounting Basics: Determine the noncurrent assets and long-term liabilities

Reference No:- TGS0686240

Recent Questions Asked Accounting Basics

Q : Prepare a schedule of expected cash collections

Q : Calculate speed and strike

Q : What would be the journal entry made

Q : Calculate speed and pressure of water

Q : Determine the noncurrent assets and long-term liabilities

Q : Compute the predicted break-even point in dollar sales

Q : What is the actual level of activity

Q : Find the magnitude and direction of the electric field

Q : Calculate the fair value of the options on the grant date

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