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

Question

3 years ago

15

size percent for cash equals:

1 answer:

Mademuasel [1] · Answer 1 · 2022-06-08T14:20:46+03:00

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.)