The Balance Sheet for James Company Is Given Below

question 45

Multiple Choice

The balance sheet for James Company is given below:
$$\begin{array} { l l } \text { Cash } & \$ 242 \\\text { Accounts Receivable } & 200 \\\text { Inventory } & 388\\\text { Prepaid Insurance } & 70 \\\text { Fixed Assets } & 452 \\\text { Accumulated Depreciation } & \text { (228) } \\\text { Total Assets } & \$ 1,124\end{array}$$
$$\begin{array} { l l } \text { Accounts payable } & \$ 152 \\\text { Wages payable } & 32 \\\text { Notes payable } & 420 \\\text { Paid-in capital } & 160 \\\text { Retained earnings } & \underline { 360 } \\\text { Total liabilities and stockholders' equity } & \$ 1,124\end{array}$$
If a common-size balance sheet was prepared,what would James Company report for accounts receivable?

• A) 13.5%
• B) 17.3%
• C) 17.8%
• D) 86.3%

Recognize the importance of source credibility and learn the difference between primary and secondary data for research.

Understand how to effectively incorporate direct quotations and data visualization in reports.

Understand the concept and application of line spacing in document formatting.

Grasp the functionality and uses of the Ignore All button in word processing software.

---

Definitions:

Random Assignment

A method used in experiments where participants are randomly assigned to different groups to ensure each group is the same before the start.

Research Participants

Individuals who take part in research studies, providing data through their responses, behaviors, or biological samples.

Experiment

An investigative process used to explore new phenomena, verify conjectures, or showcase factual information.

Correlational Studies

Correlational studies are a type of research approach that investigates the relationship between two or more variables to determine if a statistically significant association exists.