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ACC305 Wk 2 E4-19 - Wainwright Corporation.doc
ACC305 Wk 2 E4-22 - Tiger Enterprises.doc
ACC305 WK 2 E5-3 page 275 - Installment sales.doc
ACC305 Wk 2 E5-10 Project Contracts.doc
ACC305 Wk 2 Integrating Case 5-23 page 296.doc
ACC305 Wk 2 Judgment Case 4-9 page 227.doc
ACC305 Wk 3 Communication Case 6-3 on page 334.doc
ACC305 Wk 3 Judgment Case 7-5 on page 391.doc
ACC305 Wk 3 P7-10 (Page 388) and P7-14 (Page 389).doc
ACC305 Wk 3 P7-14 (Page 389) -El Gato Painting Company.xls
ACC305 Wk 4 Communication Case 8-4 on page 442.doc
ACC305 Wk 4 E8-13, E8-14, E8-18, P8-5, E9-19, E9-21, and P9-1..doc
ACC305 Wk 4 Ethics Case 9-11 on page 497.doc
ACC305 Wk 4 P8-5.xls
ACC305 Wk 4 P9-1.xls
ACC305 Wk 5 E11-5 (page 599) and E11-10 (page 600).doc
ACC305 Wk 5 Ethics Case 10-12 on page 553.doc
ACC305 Wk 5 Final Paper.doc
ACC305 Wk 5 P11-5 on page 608 and P11-7 on page 610.doc
ACC305 Wk 5 P11-07.xls
ACC305  Wk 1 Assignments - E3-18, E3-20, JCase 3-5.doc
ACC305  Wk 1 DQ1 FASB and Ethics.doc
ACC305 Wk 1 DQ2 Cash vs. Accrual & Financial Disclosures.doc
ACC305 Wk 2 DQ1 Earnings Management Case 4-3.doc
ACC305 Wk 2 DQ2 Revenue Recognition - Case 5-2.doc
ACC305 Wk 2 E4-16 - Bluebonnet Bakers.doc

 

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E3-18 (Page 152) The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2011, balance sheet revealed the following: Required: Determine the following 2011 balance sheet items: 1. Current assets 2. Shareholders’ equity 3. Noncurrent assets 4. Long-term liabilities Exercise 3-18 1. Acid-test ratio = Quick assets ÷ Current liabilities = 1.20 Quick assets = Current assets - Inventories Quick assets = Current assets - $840,000 Current assets ÷ Current liabilities = 2.25 Current assets - $840,000 ÷ Current liabilities = 1.20 $840,000 ÷ Current liabilities = 1.05 Current liabilities = $800,000 Current assets ÷ $800,000 = 2.25 Current assets = $1,800,000 2. Debt to equity ratio = Total liabilities ÷ Shareholders’ equity = 1.8 Total liabilities + Shareholders' equity = Total assets Total liabilities + Shareholders' equity = $2,800,000 Let x equal shareholders' equity 1.8 x + x = $2,800,000 x = $1,000,000 = Shareholders' equity 3. Noncurrent assets = To...
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ACC 305 Entire Class 100% Satisfaction GuaranteedA++++

E3-18 (Page 152) The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2011, balance sheet revealed the follo...

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