On a classified balance sheet. companies usually list current assets


10. On a classified balance sheet, companies usually list current assets a in alphabetical order b with the largest dollar am

Answer

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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