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Category > Accounting Posted 21 Jun 2017 My Price 8.00

Presented here are liability items for Sheely Inc. at December 31, 2010.

Presented here are liability items for Sheely Inc. at December 31, 2010. Prepare the liabilities section of Sheelys balance sheet.

Accounts payable

$155,000

Employee benefits payable

$ 7,800

Bank note payable

20,000

    

(due May 1, 2011)

  

Interest payable

40,000

Bonds payable, due 2014

900,000

Notes payable, due 2012

80,000

Current portion of

      

long-term debt

240,000

Property tax payable

3,500

Discount on bonds payable

45,000

Sales taxes payable

1,400

 

 

10.

The 2006 Adidas financial statements contain the following selected data (in millions).

Current assets

$3,925

Interest expense

$197

Total assets

8,379

Income taxes

227

Current liabilities

2,192

Net income

496

Total liabilities

5,543

    

Cash

311

    

Compute the following values and provide a brief interpretation of each.

(a) Working capital.

(b) Current ratio.

(c) Debt to total assets ratio.

(d) Times interest earned ratio.

Answers

Alpha Geek
(8)
Status NEW Posted 21 Jun 2017 06:06 AM My Price 8.00

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Attachments

file 1498025482-575466_1_636336032353836522_Liabilities-and-ratio.xlsx preview (127 words )
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