Mgmt_200_Spring_2008_Homework_9B_solution(4,18)

Mgmt_200_Spring_2008_Homework_9B_solution(4,18) - NAME PUID...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
NAME: ___________________________ PUID _________________ Please write your name in BLOCK letters and in the format: Last name, First name. Management 200 – Introductory Financial Accounting– Spring 2008 Krannert School of Management - Purdue University Homework 9 - 8:30 am section – due Friday, April 18, 2008 - SOLUTION Meatloaf Industries, Inc. provided the following information from its 2007 annual report: Meatloaf Industries, Inc Balance Sheets as at December 31, 2006 and 2007 2006 2007 Cash $ 9,000 $ 11,200 Accounts receivable 12,500 9,400 Inventory 21,200 25,600 Short-term investments 12,000 8,000 CURRENT ASSETS: 54,700 54,200 Property and equipment, at cost 96,000 108,000 Less accumulated depreciation (42,000) (51,000) TOTAL ASSETS: $108,700 $111,200 Accounts payable 16,000 17,200 Income taxes payable 3,700 1,500 Dividend payable 0 300 Bank loan 10,700 16,900 Revenue received in advance 6,600 5,200 CURRENT LIABILITIES 37,000 41,100 Bond payable 40,000 32,000 Stockholders’ Equity:
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 11/22/2009 for the course MGMT 200 taught by Professor Greigg during the Spring '08 term at Purdue.

Page1 / 2

Mgmt_200_Spring_2008_Homework_9B_solution(4,18) - NAME PUID...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online