Teakap, Inc

question 92

Multiple Choice

Teakap, Inc., has current assets of $1,456,312 and total assets of $4,812,369 for the year ending September 30, 2006. It also has current liabilities of $1,041,012, common equity of $1,500,000, and retained earnings of $1,468,347. What is the value of long term debt?

• A) $1,844,022
• B) $2,303,010
• C) $2,123,612
• D) $803,010

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Definitions:

Represent

To act on behalf of another person or group in a legal setting or to depict or portray something in a specified manner.

Court

An institution where legal disputes are resolved through the adjudication process by judges and sometimes juries.

Judge

An official appointed to decide cases in a court of law.

Conflict-Of-Interest

A situation in which a person or entity has competing interests or loyalties that can potentially interfere with the ability to make impartial decisions.