Chapter 4 - Exercise 4.xlsx - XYZ Company Balance Sheet As...

XYZ Company
Balance Sheet
As of December 31, 2019
Cash $ 5,400
Accounts receivable $ 52,000
Inventory $ 86,400
Total current assets $ 143,800
Building $ 75,700
Equipment $ 11,800
Less: Accumulated depreciation $ 22,400
Net fixed assets $ 65,100
Total assets $ 208,900
Accounts payable $ 13,200
Management salaries payable $ 4,800
Payroll taxes payable $ 1,300
Short-term portion of long-term debt $ 8,300
Total current liabilities $ 27,600
Mortgage payable $ 48,000
Equipment loan payable