Exhibit 24-1 Shriber Company had the following balance sheet at the end of 2012:
Refer to Exhibit 24-1. Using the information above, determine Shriber's invested capital assets.

Question

Exhibit 24-1 Shriber Company had the following balance sheet at the end of 2012:
 Refer to Exhibit 24-1. Using the information above, determine Shriber's invested capital assets.

Quizplus · Accepted Answer

Invested capital assets are the sum of total assets minus non-interest bearing current liabilities. Therefore, the calculation is $1,455,960 - $568,470 = $887,490. Option A is incorrect because it only includes total assets, not the reduction of non-interest bearing current liabilities. Option B is incorrect because it does not account for the deduction of non-interest bearing current liabilities. Option D is incorrect because it only includes interest-bearing liabilities as part of the calculation.

Exhibit 24-1 Shriber Company Had the Following Balance Sheet at the End