A corporation reported cash of $27,000 and total assets of $461,000 on its balance sheet. Its common-size percent for cash equals:
A) 5.86%.
B) 1707%.
C) 100%.
D) 58.6%.
E) 17.1%.

Question

Quizplus · Accepted Answer

The common-size percent for cash is calculated by dividing the cash amount by the total assets and then multiplying by 100. So, ($27,000 / $461,000) * 100 = 5.86%.

A Corporation Reported Cash of $27,000 and Total Assets of $461,000