FMGT 2293 Assignment #2

FMGT 2293 Assignment #2 - FMGT 2293 Assignment #2 2-34...

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

View Full Document Right Arrow Icon
FMGT 2293 Assignment #2 Seung Hun Han ID #: 100165736 2-34 The Tree Top Restaurant Ltd. Balance Sheet As at December 31, 2008 ASSETS Current assets Cash $ 63,000 Accounts receivable 100,000 Inventory 46,000 Prepaid insurance 8,000 Total current assets $217,000 Non-current assets Furniture and equipment 70,000 Buildings 220,000 Land 100,000 Total Assets $607,000 Current liabilities Accounts payable $ 82,000 Taxes payable 5,000 Wages payable 10,000 Non-current liabilities Bank loan 250,000 Total liabilities $347,000 Shareholder’s equity Common shares $ 200,000 Retained earnings 60,000 Total shareholder’s equity 260,000 Total Liabilities and Shareholder’s $607,000 equity 2-36 a) Assets = Liabilities + Shareholder’s Equity 1. +$200,000 (cash) = + +$200,000 (common shares) 2. +$100,000 (cash) = +$100,000 (loan payable) 3. -$220,000 (cash) +$70,000 (land) +$150,000 (building) 4. +$110,000 (inventory) = +$110,000 (accounts payable) 5. +$30,000 (cash)
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 09/25/2010 for the course FMGT FMGT 2293 taught by Professor Hamere. during the Summer '09 term at Langara.

Page1 / 3

FMGT 2293 Assignment #2 - FMGT 2293 Assignment #2 2-34...

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