+1 123 456 7890 instantessays65@gmail.com # BMAL 530 Reading Quiz 1

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BMAL 530 Module 1 Reading Quiz 1 Question 1 The following assets are shown on ABC Companyâ€™s Balance Sheet: cash = \$20,000Í¾ accounts receivable = \$15,000Í¾ supplies = \$2,675Í¾ equipment = \$89,057Í¾ accumulated depreciation â€“ equipment = \$36,800. If equity equals \$82,600, what do liabilities equal? Question 2 If liabilities equal 2.5 times that of equity, which is \$75,000, what do the assets equal? Question 3 The following accounts are showing for ABC Company. Cash = \$16,080Í¾ accounts receivable = \$9,500Í¾ accounts payable = \$14,000Í¾ supplies = \$675Í¾ prepaid expenses = \$3,150Í¾ equipment = \$25,200Í¾ accumulated depreciation â€“ equipment = \$8,150Í¾ taxes payable = \$5,321Í¾ salaries payable = \$13,482. What is the total liabilities value? Question 4 ABC Company had the following information regarding their accounts. Increase in accounts receivable of \$8,500Í¾ increase in supplies of \$950Í¾ gains on sale of equipment of \$17,400Í¾ losses on sales of equipment of \$9,290Í¾ net loss of \$6,500Í¾ decrease in accounts payable of \$9,500, and depreciation of \$34,250. What is the cash used or provided by operating activities (if used, the number should be negativeÍ¾ if provided by, the number should be positive)? Question 5 The following assets are shown on ABC Companyâ€™s Balance Sheet: cash = \$20,000Í¾ accounts receivable = \$15,000Í¾ supplies = \$2,675Í¾ equipment = \$89,057Í¾ accumulated depreciation â€“ equipment = \$36,800. What are the total assets? Question 6 If assets equal \$200,000 and liabilities equal \$100,000, what does equity equal? Question 7 What is the net income/loss given the following information: depreciation expenses = \$3,900Í¾ bank service charges = \$478Í¾ salaries expense = \$65,800Í¾ revenues = \$225,000Í¾ prepaid expenses = \$5,000Í¾ insurance expense = \$6,500Í¾ rent expense = \$16,340Í¾ accounts receivable = \$26,890? Question 8 If assets equal \$600,000, and equity is 2x liabilities, what are the liabilities and equity? Question 9 If liabilities equal \$75,000 and equity is twice the amount of liabilities, what do assets equal? Question 10 The following accounts are showing for ABC Company. Cash = \$16,080Í¾ accounts receivable = \$9,500Í¾ accounts payable = \$14,000Í¾ supplies = \$675Í¾ prepaid expenses = \$3,150Í¾ equipment = \$25,200Í¾ accumulated depreciation â€“ equipment = \$8,150Í¾ taxes payable = \$5,321Í¾ salaries payable = \$13,482. What is the total equity value?

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