Following is the balance sheet of Jordan Company for Year 3: ...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Following is the balance sheet of Jordan Company for Year 3:
| JORDAN COMPANY Balance sheet | |||
| Assets | |||
| Cash | $ | 15,100 | |
| Marketable securities | 8,060 | ||
| Accounts receivable | 12,980 | ||
| Inventory | 11,200 | ||
| Property and equipment | 174,500 | ||
| Accumulated depreciation | (12,300 | ) | |
| Total assets | $ | 209,540 | |
| Liabilities and Stockholders Equity | |||
| Accounts payable | $ | 8,780 | |
| Current notes payable | 3,960 | ||
| Mortgage payable | 4,650 | ||
| Bonds payable | 21,480 | ||
| Common stock | 114,100 | ||
| Retained earnings | 56,570 | ||
| Total liabilities and stockholders equity | $ | 209,540 | |
The average number of common stock shares outstanding during Year 3 was 870 shares. Net income for the year was $15,700. Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.)
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.