Question

A corporation reported cash of $26,200, total assets of $457,000, and total equity of $156,630 on its balance sheet. Its common-size percent for cash equals:

Answer 1

Answer:

Common-size percent for cash = 5.73 % (Approx.)

Step-by-step explanation:

Given:

Total cash = $26,200

Total assets = $457,000

Total equity = $156,630

Find:

Common-size percent for cash

Computation:

Common-size percent for cash = [Total cash/Total assets]100

Common-size percent for cash = [26,200/457,000]100

Common-size percent for cash = 5.73 % (Approx.)