Each of the following requirements is independent of the others.a) Valdez Corporation has liabilities of $95,000 and equity of $115,000. What is the amount of Valdez's assets? ________b) Global Company has assets of $320,000 and liabilities of $95,000. What is the amount of Global's equity? ________c) Brown Company has assets of $90,000 and liabilities of $25,000. What is the amount of Brown's claims? ________
What will be an ideal response?
a) $210,000
b) $225,000
c) $90,000
a) Assets = liabilities + equity = $95,000 + 115,000 = $210,000
b) Assets ? liabilities = equity. Equity = $320,000 ? 95,000 = $225,000
c) Assets = claims. Total amount of claims = $90,000
You might also like to view...
______ refers to the level of knowledge a person has about others who differ in some way in comparison to self.
a. Cultural competence b. Perception checking c. Co-cultural communication d. Mutual respect
Sexual reproduction brings about genetic variation within a species. How does sexual reproduction contribute to variation? Why is genetic variation so important to the survival of a species? Support your answer with an example.
What will be an ideal response?
Which of the following is not an indicator that a promise is separately identifiable within a contract?
A) lack of integration with other promised goods or services. B) does not modify another good or service. C) is not dependent on other goods or services. D) lack of commercial substance like other goods or services.
The NPV method assumes that cash inflows associated with a particular capital investment decision are:
A) reinvested only at the beginning of the year. B) immediately reinvested. C) reinvested only in the last year of the investment's life. D) not reinvested.