ratios2 - Acct 301 - Burbage ratios2.doc/dec07 Financial...

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Acct 301 - Burbage Financial Statements & Ratio Calculations for Exams #5-7 ratios2.doc/dec’07 BALANCE SHEET YEAR ENDED ASSETS: 12/31/06 12/31/05 Current Assets: Cash $ 4,000 $ 7,400 Marketable securities (temp.investmts) 1,000 1,000 Accounts receivable 5,400 4,700 Less allowance for doubtful accounts ( 400) ( 700) Merchandise inventory 10,000 15,000 Prepaid expenses 2,000 1,600 Total Current Assets 22,000 29,000 Plant and Equipment: Land 5,000 5,000 Building 11,000 8,000 Equipment 54,000 37,000 Less accumulated depreciation (15,000 ) (12,000 ) Total Plant and Equipment 55,000 38,000 Total Assets $ 77,000 $ 67,000 ======= ======= LIABILITIES: Current Liabilities: Accounts payable $ 1,500 1,800 Notes payable 2,000 1,200 Wages payable 2,000 1,000 Total Current Liabilities 5,500 4,000 Long-Term Liabilities: Notes payable 13,500 10,000 Bonds payable 1,000 4,000 Total Long-Term Liabilities 14,500 14,000 Total Liabilities 20,000 18,000 STOCKHOLDERS' EQUITY: * Common stock, $8.00 par value
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This note was uploaded on 12/14/2010 for the course BUS 3103 taught by Professor Nugent during the Spring '09 term at Texas Woman's University.

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ratios2 - Acct 301 - Burbage ratios2.doc/dec07 Financial...

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