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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...

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Finance

CategoryPrior YearCurrent Year
Accounts payable??????
Accounts receivable320,715397,400
Accruals40,50033,750
Additional paid in capital500,000541,650
Cash17,50047,500
Common Stock94,000105,000
COGS328,500430,836.00
Current portion long-term debt33,75035,000
Depreciation expense54,00055,125.00
Interest expense40,50042,404.00
Inventories279,000288,000
Long-term debt339,829.00400,384.00
Net fixed assets946,535999,000
Notes payable148,500162,000
Operating expenses (excl. depr.)126,000162,228.00
Retained earnings306,000342,000
Sales639,000847,534.00
Taxes24,75047,130.00

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?

Answer & Explanation Solved by verified expert
3.6 Ratings (643 Votes)
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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