Balance Sheet The assets of Dallas & Associates consist entirely of current assets and net plant and equipment. The firm has total assets of $2.9 million and net plant and equipment equals $2.6 million. It has notes payable of $145,000, long-term debt of $750,000, and total common equity of $1.55 million. The firm does have accounts payable and accruals on its balance sheet. The firm only finances with debt and common equity, so it has no preferred stock on its balance sheet. Write out your answers completely. For example, 25 million should be entered as 25,000,000.
a. What is the company's total debt?
b. What is the amount of total liabilities and equity that appears on the firm's balance sheet?
c. What is the balance of current assets on the firm's balance sheet?
d. What is the balance of current liabilities on the firm's balance sheet?
e. What is the amount of accounts payable and accruals on its balance sheet?
f. What is the firm's net operating working capital?
g. What is the firm's net working capital?
h. What is the monetary difference between your answers to part fand g?
What does this difference indicate?

Solution :

a). Total debt = notes payable + long term debt

                      = 145,000 + 750,000

                     = $ 895,000

b). Total liabilities and equity = total assets

                                                = 2,900,000

c). Current assets = total assets - net plant and equipment

                             = 2,900,000 - 2,600,000

                              =$ 300,000

d). Total current liabilities = total liabilities and equity - total common equity - long term debt

                           = 2,900,000 - 1,550,000 - 750,000

                           = $ 600,000

e). Accounts payable and accruals = total current liabilities - notes payable  

                                                          = 600,000 - 145,000

                                                          = 455,000

f). Net working capital = current asset - current liabilities

                                    = 300,000 - 600,000

                                   = - $300,000

g). Net operating working capital = current assets - accounts payable and accruals

                                  = 300,000 - 455,000

                                 = - $ 155,000

h). The difference between f) and g). represents the balance of notes payable.  

answer; i believe the correct answer is (a) motion for change of venue;

2,283,000

explanation:

i just had to add it