On a classified balance sheet. companies usually list current assets

Solution 10:

On a classified balance sheet, companies usually list current assets "In the order in which they are expected to be converted in to cash"

Hence option c is correct.

Solution 11:

Amount of property, plant and equipment that would appear on the balance sheet = Land + Land (held for further use) + Buildings + Equipment + Furniture - Accumulated depreciation

= $150,000 +$225,000 + $1,200,000 +$675,000 + $150,000 -$450,000 = $1,950,000 Hence option b is correct. Solution 12: Ratios that measures the income or operating success of a company for a given period of time are "Profitability ratios" Hence option b is correct. Solution 13: Creditor claims on assets = total assets - common stock - Retained earnings =$4,200,000 - $1,092,000 -$665,000 = \$2,443,000

Hence option c is correct.

Solution 14:

Earning per share is a profitability ratio.

Hence option a is correct.

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