Baloon-E-Tunes -Refer to Baloon-E-Tunes

question 166

Essay

Baloon-E-Tunes

$\begin{array}{l}\begin{array}{ll}\text { Retained Earnings } & \$ 370,000 \\\text { Accumulated Depreciation } & 130,000 \\\text { Income Taxes Payable } & 240,000 \\\text { Plant } & 480,000 \\\text { Cash } & 110,000 \\\text { Accounts Receivable } & 350,000 \\\text { Common Stock } & 600,000\end{array}\begin{array}{ll}\text { Notes Payable (due in } 6 \text { years) } & \$ 120,000 \\\text { Salaries Payable } & 10,000 \\\text { Supplies } & 20,000 \\\text { AccountsPayable } & 360,000 \\\text { Inventory } & 330,000 \\\text { Land } & 500,000 \\\text { Prepaid Insurance } & 40,000\end{array}\end{array}$
-Refer to Baloon-E-Tunes.Calculate the current ratio at December 31,2013.What does this ratio tell you about the "composition" of the current assets?

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Definitions:

Hearing

Hearing is the sensory process that involves the perception of sound waves through the ears, enabling individuals to recognize and interpret sounds in their environment.

Franchisee Phone Calls

Communication interactions between franchisees and franchisors, crucial for operational support and resolving business issues.

DineEquity

A company known for owning and operating restaurant brands, including Applebee's and IHOP.

Data

Facts and statistics collected together for reference or analysis, used to make decisions or solve problems.