Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 430,836.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 55,125.00 Interest expense 40,500 42,404.00 Inventories 279,000 288,000 Long-term debt 339,829.00 400,384.00 Net...

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Finance

Category Prior Year Current Year
Accounts payable ??? ???
Accounts receivable 320,715 397,400
Accruals 40,500 33,750
Additional paid in capital 500,000 541,650
Cash 17,500 47,500
Common Stock 94,000 105,000
COGS 328,500 430,836.00
Current portion long-term debt 33,750 35,000
Depreciation expense 54,000 55,125.00
Interest expense 40,500 42,404.00
Inventories 279,000 288,000
Long-term debt 339,829.00 400,384.00
Net fixed assets 946,535 999,000
Notes payable 148,500 162,000
Operating expenses (excl. depr.) 126,000 162,228.00
Retained earnings 306,000 342,000
Sales 639,000 847,534.00
Taxes 24,750 47,130.00
what is the current year's account payable balance?
what is the current year's return on assets (ROA)?
what is the current year's return on equity (ROE)?
what is the current year's entry for long-term debt on acommon-sized balance sheet?

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Answer to Finance Question Current years account payable Account payable is the current portion of long term debts which is 35000 since there is no records of separate account payable Also notes payable are not considered in account payable since these are guaranteed instruments issued by the company Current years Return on Asset Return on Asset the ration that reflects the performance of the asset of the company It See Answer

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Category	Prior Year	Current Year
Accounts payable	???	???
Accounts receivable	320,715	397,400
Accruals	40,500	33,750
Additional paid in capital	500,000	541,650
Cash	17,500	47,500
Common Stock	94,000	105,000
COGS	328,500	430,836.00
Current portion long-term debt	33,750	35,000
Depreciation expense	54,000	55,125.00
Interest expense	40,500	42,404.00
Inventories	279,000	288,000
Long-term debt	339,829.00	400,384.00
Net fixed assets	946,535	999,000
Notes payable	148,500	162,000
Operating expenses (excl. depr.)	126,000	162,228.00
Retained earnings	306,000	342,000
Sales	639,000	847,534.00
Taxes	24,750	47,130.00