NNR Inc'S Balance Sheet Showed Total Current Assets of $1,875,000 Plus

question 41

Multiple Choice

NNR Inc.'s balance sheet showed total current assets of $1,875,000 plus $4,225,000 of net fixed assets.All of these assets were required in operations.The firm's current liabilities consisted of $475,000 of accounts payable, $375,000 of 6% short-term notes payable to the bank, and $150,000 of accrued wages and taxes.Its remaining capital consisted of long-term debt and common equity.What was NNR's total investor-provided operating capital?

• A) $4,694,128
• B) $4,941,188
• C) $5,201,250
• D) $5,475,000
• E) $5,748,750

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Definitions:

Equation

A mathematical statement that asserts the equality of two expressions, usually shown by the symbol "=".

Solve

The process of finding the value of variables that make a mathematical statement true.

Solution

The value or set of values that satisfy an equation, inequality, or system of equations.

Equation

A mathematical statement that asserts the equality of two expressions, symbolized by the use of an equals sign.