Balance sheet Harvey\'s Hamburger Stand has total assets of $3 million of which

Question

Balance sheet Harvey's Hamburger Stand has total assets of $3 million of which $1 million are current assets. Cash makes up 20 percent of the current assets and accounts receivable makes up another 5 percent of current assets. Harvey's gross plant and equipment has a book value of $1.5 million and other long-term assets have a book value of $1 million. Using this information, what is the balance of inventory and the balance of depreciation on Harvey's Hamburger Stand's balance sheet? $250, 000, $500, 000 $250, 000 $1 million $750, 000, $500, 000 $750, 000, $1 million Compounding monthly versus annually causes the interest rate to be effectively higher, and thus the future value grows. Decreases, is independent of the monthly compounding. is affected only if the calculation involves an annuity due. Present Value of a Perpetuity. What's the present value, when interest rates are 6.5 percent, of a $100 payment made every year forever? $6.50 $650.00 $1, 000.00 $1,538.46 Liquidity Ratios. The top part of Rammy's inc.'s 2008 balance sheet is listed below (in millions of dollars). What are Rammy's Inc.'s Current ratio, Quick ratio, and Cash ratio for 2008? 1.74242, 0.30303, 0.07576 7.1875, 1.25, 0.3125 1.43939, 0.30303, 0.07576 19.1667, 3.33333, 0.83333

Explanation / Answer

28)

Current assets $        1,000,000 Less: Cash $            200,000 Acounts receivable $              50,000 Inventory $            750,000 Total assets $        3,000,000 Less: Current assets $        1,000,000 Long-term assets $        1,000,000 Net fixed assets $        1,000,000 Gross fixed assets $        1,500,000 Deprecition (Difference) $            500,000

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.