CAFE-TER-RYA has the following balance sheet statement items: total current liabilities of P805,000; total assets of P2,655,000; fixed and other assets of P1,770,000; and long-term debt of P200,000. What is the amount of the firm's total current assets?
Question
CAFE-TER-RYA has the following balance sheet statement items: total current liabilities of P805,000; total assets of P2,655,000; fixed and other assets of P1,770,000; and long-term debt of P200,000. What is the amount of the firm's total current assets?
Solution
To find the amount of the firm's total current assets, we need to subtract the total current liabilities from the total assets.
Given that the total current liabilities are P805,000 and the total assets are P2,655,000, we can calculate the total current assets as follows:
Total current assets = Total assets - Total current liabilities
Total current assets = P2,655,000 - P805,000
Total current assets = P1,850,000
Therefore, the amount of the firm's total current assets is P1,850,000.
Similar Questions
The balance sheet shows the following accounts and amounts:Inventory, $42,000; Long-term Debt 62,500; Common Stock $30,000; Accounts Payable $22,000; Cash $66,000; Buildings and Equipment $195,000; Short-term Debt $24,000; Accounts Receivable $54,500; Retained Earnings $102,000; Notes Payable (nine month) $27,000; Accumulated Depreciation $90,000.Total current assets on the balance sheet are:
Assets Liabilities Accounts payable 25,000Cash 8, 000 Bank overdrafts 1,500Accounts receivables 10, 000 Long term loans 40,000Inventory 10, 000 Total liabilities 66,500Property, Plant and Equipment 100, 000 Shareholders Equity Share capital 35,000 Retained earnings 26, 500Total Assets 128, 000 Total Liabilities and SE 128, 000 You have the following information from the balance sheet of Company X as at 30 June 2018.Calculate current ratio.
A company has a quick ratio of 1.5, current liabilities of Rs. 300,000, and inventory of Rs. 200,000. What are the company’s current assets?Rs. 450000Rs. 400000Rs. 500000Rs. 350000
At the end of fiscal year 2021, company A discloses the following balance sheet:AssetsNon-cash current assets $1,200,000Non-current assets $3,000,000Long-term equity Investments $2,000,000Total $6,200,000Equity and LiabilitiesCurrent debt $500,000Other current liabilities $200,000Non-current debt $4,000,000Deferred tax liability $200,000Provisions for bad debt $160,000 Equity $1,140,000Total $6,200,000Company A’s net operating assets and net debt equal Group of answer choicesC. $5,640,000 and $4,500,000, respectivelyA. $3,440,000 and $2,300,000, respectivelyB. $4,200,000 and $4,500,000, respectivelyD. $6,200,000 and $5,060,000, respectively
Net income reported for 2016 is P200, 000, the adjusted balance for liability is P30, 000, capital beginning is P100, 000, and current assets totaled P150, 000.The amount of non-current assetsSelect one:a.P180,000b.P120,000c.P80,000d.P250,000
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.