David Davis, the CFO of Pharoah Automotive, Inc., is putting together this year's financial statements. He has gathered the following balance sheet information: The firm had a cash balance of $23,015, accounts payable of $163,257, common stock of $314,000, retained earnings of $512,159, inventory of $211,200, goodwill and other assets equal to $78,656, net plant and equipment of $711,800, and short-term notes payable of $21,115. It also had accounts receivable of $141,258 and other current assets of $11,223. How much long-term debt does Pharoah Automotive have

$166,621

Explanation:

Long term debt refers to all the debt and loans that a company has to repay in a period of time longer than one year. All the debt payments that are due within one year are called current debt.

Assets:

cash balance of $23,015

accounts receivable of $141,258

inventory of $211,200

other current assets of $11,223

net plant and equipment of $711,800

goodwill and other assets equal to $78,656

Total assets = $1,177,152

Liabilities and stockholders' equity

accounts payable of $163,257

short-term notes payable of $21,115

common stock of $314,000

retained earnings of $512,159

Total liabilities and stockholders' equity = $1,010,531

Difference between assets and liabilities + equity = $1,177,152 - $1,010,531 = $166,621 that should correspond to long term debt.

you can lose ranking 2 ways.

1) you don't have enough points due to you expending them by asking questions/your answers are deleted.

2) your brainliest's expired. this means that brainliests, once they exceed the 30 day limit, expires. this is to ensure that you continue to contribute into the community at a constant rank if you want to continue to have/exceed the rank you have right now.

if you go to profile, and click "show more information" located on the bottom left of the box with your information (on top of the questions answered, questions asked, and friends), you will be given the following information (example):

member since : 02/13/2017, 18: 11

questions answered: 9741

questions asked: 162

no. of brainliest answers: 1575

brainliest answers in last 30 days: 10

warnings: 0 view

questions/answers reported: 2637

questions/answers incorrectly reported: 64

look at the "brainliest answers in the last 30 days". this is the one that will affect your rank other than your points. again, once your brainliest expires (was earned 31+ days ago), it will not be counted.

~

a progressive tax is a tax that imposes a lower tax rate on low-income earners compared to those with a higher income, making it based on the taxpayer's ability to pay. that means it takes a bigger percentage from high income earners than it does from low income people.