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Sedbober [7]
3 years ago
5

KCCO, Inc., has current assets of $4,200, net fixed assets of $23,400, current liabilities of $3,750, and long-term debt of $8,4

00.
1. What is the value of the shareholders’ equity account for this firm? (Do not round intermediate calculations.)
2. How much is net working capital? (Do not round intermediate calculations.)
Business
1 answer:
sammy [17]3 years ago
3 0

Answer:

See below

Explanation:

1. Value of shareholder's equity is computed as

= Total assets - Current liabilities - long term debt

= [($4,200 + $24,400) - $3,750 - $8,400]

= $28,600 - $3,750 - $8,400

= $16,450

2. How much is net working capital

This is computed as;

= Total current asset - Total current liabilities

= $4,200 - $3,750

= $450

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On December 15, 2021, Rigsby Sales Co. sold a tract of land that cost $3,300,000 four $5,000,000. Rigsby appropriately uses the
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<u>Solution and Explanation:</u>

Installment Receivables (Net) of $2,905,600

Basis  Particulars                                         Debit  Credit

Sale:-  Instalment Receivables  $5,000,000  

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 Deferred gross profit                                                  $1,800,000

Payment:-  Cash                         $4,90,000  

Instalment Receivables                                     $4,90,000

Deferred Gross profit                 $165,600  

Realised Gross profit                                              $165,600

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Instalment Receivables (Net) = $2,875,600

8 0
3 years ago
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