The Classified Balance Sheet for a Company Reported Current Assets

question 144

Multiple Choice

The classified balance sheet for a company reported current assets of $1,623,850, total liabilities of $799,540, Common Stock of $1,000,000, and Retained Earnings of $130,260.The current ratio was 2.5.
-Use the information above to answer the following question.Which of the following statements is not correct?

• A) Total Assets are $1,929,800.
• B) Total Stockholders' equity is $1,130,260.
• C) Noncurrent liabilities are $130,260.
• D) The amount of current assets is 2.5 times the amount of current liabilities.

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Definitions:

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Events where people come together to interact for social purposes.

Mainstream

Dominant trends or prevailing cultural norms and values widely accepted or practiced by the majority within a society.

Heterosexual Audience

A group of individuals or demographic characterized by a sexual orientation toward the opposite gender.

Acquiescent Women

Refers to women who tend to agree or consent to the desires, demands, or conditions set by others, often without critical examination or resistance.