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Sagot :
Answer:
1. $90,000
2. $5,000
3. $20,000
Explanation:
1. Calculation to Determine the Total current assets
First step is to calculate the Total current liabilities using this formula
Total current liabilities=Accounts payable + Wages payable + Accrued Interest
Let plug in the formula
Total current liabilities=$44,000 + $15,000 + $1,000
Total current liabilities= $60,000
Now let calculate the Total current assets using ratio 1.5
Total current assets =1.5 × $60,000 x 1.5
Total current assets=$90,000
Therefore the Total current assets will be 90,000
2. Calculation to Determine the Short term investments using this formula
Short term investments=Total current assets - Cash - Accounts receivable - Inventories
Let plug in the formula
Short term investments=$90,000 - $5,000 - $20,000 - $60,000
Short term investments= $5,000
Therefore the Short term investments will be $5,000
3. Calculation to Determine the Retained earnings
First step is to calculate the Total Assets
Cash and cash equivalents $5,000
Add Accounts receivable (net) $20,000
Add Inventories $60,000
Add Short term investments $5,000
Add Property, plant, and equipment (net) 120,000
TOTAL ASSETS $210,000
Now let calculate the Retained Earnings
Total Assets $210,000
Less Accounts payable ($44,000)
Less Salaries payable ($15,000)
LessAccrued interest ($1,000)
Less Notes payable ($30,000)
Less Paid-in capital ($100,000)
RETAINED EARNINGS $20,000
Therefore the Retained Earnings will be $20,000
The following answer of "The Stonebridge Corporation" at December 31, 2021:
- Total current assets will be 90,000
- Short term investments will be $5,000
- Retained Earnings will be $20,000
"The Stonebridge Corporation"
Answer 1:
Total current assets
- Total current liabilities=Accounts payable + Wages payable + Accrued Interest
- Total current liabilities=$44,000 + $15,000 + $1,000
- Total current liabilities= $60,000
Total current assets=$90,000
- Total current assets using ratio 1.5
- Total current assets =1.5 × $60,000 x 1.5
- Total current assets=$90,000
Therefore, the Total current assets is 90,000.
Answer 2:
Short term investments
- Short term investments=Total current assets - Cash - Accounts receivable - Inventories
- Short term investments=$90,000 - $5,000 - $20,000 - $60,000
- Short term investments= $5,000
Thus, the Short term investments is $5,000.
Answer 3:
Retained Earnings
- Total Assets $210,000
- Less Accounts payable ($44,000)
- Less Salaries payable ($15,000)
- LessAccrued interest ($1,000)
- Less Notes payable ($30,000)
- Less Paid-in capital ($100,000)
Retained earnings$20,000
Working Notes:
Cash and cash equivalents $5,000
- Add Accounts receivable (net) $20,000
- Add Inventories $60,000
- Add Short term investments $5,000
- Add Property, plant, and equipment (net) 120,000
Total Assets $210,000
Thus, the Retained Earnings is $20,000.
Learn more about "Accounting ratio" :
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