The Balance Sheet for Jennifer Company Is Given Below

question 115

Multiple Choice

The balance sheet for Jennifer Company is given below:
$\begin{array}{ll}\text { Cash } & \$ 200 \\\text { Accounts Receivable } & 236 \\\text { Inventory } & 388 \\\text { Prepaid Insurance } & 76 \\\text { Fixed Assets } & 452 \\\text { Accumulated Depreciation } & (228) \\\text { Total Assets }&\$1,124\end{array}$
$$\begin{array} { l l } \text { Accounts payable } & \$ 152 \\\text { Wages payable } & 32 \\\text { Notes payable } & 420 \\\text { Paid-in capital } & 160 \\\text { Retained earnings } & \underline { 360 } \\\text { Total liabilities and stockholders' equity } & \$ 1,124\end{array}$$
If a common-size balance sheet was prepared,what would Jennifer Company report for Cash?

• A) 17.8%
• B) 21.5%
• C) 25.2%
• D) 62.3%

Identify financial strategies for improving short-term and long-term financial health.

Analyze the effect of depreciation and asset acquisition on financial statements and ratios.

Understand the importance of inventory management and its impact on firm performance.

Comprehend the role and calculation of earnings per share (EPS) and its importance to shareholders.

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Definitions:

Visual Cortex

A part of the cerebral cortex in the brain responsible for processing visual information.

Visual Fields

The range of vision that can be seen without moving the eyes.

Auditory Tube

Also known as the Eustachian tube, it connects the middle ear to the nasopharynx and helps equalize pressure in the middle ear.

Middle Ear

Air-filled space within the temporal bone; contains auditory ossicles; between the external and internal ear.