A corporation reported cash of $14,400 and total assets of $178,700 on its balance sheet. Its common-size percent for cash equals: a. 20.63% b. 14.57% c. 12.41% d. 6,06% e. 8.06%

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13-12-2022
Business

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A corporation reported cash of $14,400 and total assets of $178,700 on its balance sheet. Its common-size percent for cash equals: a. 20.63% b. 14.57% c. 12.41% d. 6,06% e. 8.06%

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tutorconsortium609 tutorconsortium609 · Answer 1 · 2022-12-18T12:38:05+01:00

Option (e) is the correct answer. On its balance sheet, a company showed $14,400 in cash and $178,700 in total assets. So he common-size percent for cash is 8.06%.

What is in a balance sheet?

An organization's resources, liabilities, and proprietor value as of any given date are recorded on a adjust sheet.
As a rule, a adjust sheet is made at the conclusion of foreordained periods (e.g., each quarter; yearly).
In a adjust sheet, there are two columns. The company's resources are recorded within the column on the cleared out.

How is it calculated?

The given dat is,

A corporation reported cash = $14,400

Total assets = $178,700

Percent for cash equals = (Reported cash÷ Total assets)×100

= ($14,400÷$178,700)×100

=(0.0858)×100

=8.06.

Option (e) is the correct answer. On its balance sheet, a company showed $14,400 in cash and $178,700 in total assets. So he common-size percent for cash is 8.06%.

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