Dear Prof. Stiner,
Thank you for your reply and your
corrections of my English.
Though these are two of last week's
questions, No. 4 and No. 6, I want to try again to answer them.
> > > 4. The value of short-term investments
is cash equivalent, valuation basis.
> > I meant for you to tell me the
value in US dollars. There's a
trick!
> > Make sure you note "the
millions" mentioned at the top of the statement.
Dell Computers' short-term investments are
$323,000,000 in January 28 2000.
Correct!
> > > 6. The value of Accounts
payable is acquisition.
> > Accounts payable is measured by
the amount due as shown on the invoice.
> > But again I wanted a number.
For example, Nike's accounts payable is
$543,800,000 (five hundred forty-three million eight hundred thousand
dollars).
Check the statement again to see how I got
that number.
I saw Nike's accounts payable again. It is
$543,800,000 in 2000.
Correct!
Homework Answers;
1. It's $20,000.
Correct!
2. It's $70,000.
Correct!
3. It's $90,000.
Correct!
4. It's $90,000 because The Total Assets
equal Total Liabilities and Stockholders' Equity.
Correct!
Delaware Parts, Inc.
Balance Sheet
January 10, 2000
|
ASSETS |
LIABILITIES |
||
|
Current Assets |
STOCKHOLDERS' EQUITY |
||
|
Cash |
$20,000 |
Common stock, 9,000 shares, $10 par |
$90,000 |
|
Long-term Assets |
|||
|
Land |
$10,000 |
||
|
Building |
$60,000 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
$90,000 |
|
Total Long-term Assets |
$70,000 |
||
|
TOTAL ASSETS |
$90,000 |
||
5.
|
English |
Japanese |
|
inventory |
Tanaoroshi-shisan |
|
investment |
Tohshi |
|
liabilities |
Fusai-no-bu |
|
payable |
Shiharaubeki(adjective) |
|
property |
Shoyu-ken |
|
stockholders' equity |
Shihon-no-bu |
Thanks for the vocabulary words.
Sincerely,
Yoshi