ratios3 - Acct 301 - Burbage ratios3.doc/dec07 Financial...

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

View Full Document Right Arrow Icon
Acct 301 - Burbage Financial Statements & Ratio Calculations for Exams #5-7 ratios3.doc/dec’07 BALANCE SHEET YEAR ENDED ASSETS: 12/31/07 12/31/06 Current Assets: Cash $ 8,000 $ 4,000 Marketable securities (temp.investmts) 2,000 2,000 Accounts receivable 14,000 5,000 Less allowance for doubtful accounts (2,000) ( 1,000) Merchandise inventory 9,000 10,000 Prepaid expenses 3,000 2,000 Total Current Assets 34,000 22,000 Plant and Equipment: Land 10,000 10,000 Building 30,000 30,000 Equipment 50,000 20,000 Less accumulated depreciation (25,000 ) (20,000 ) Total Plant and Equipment 65,000 40,000 Total Assets $ 99,000 $ 62,000 ======= ======= LIABILITIES: Current Liabilities: Accounts payable $ 4,000 2,000 Notes payable 1,000 3,000 Wages payable 3,000 1,000 Total Current Liabilities 8,000 6,000 Long-Term Liabilities: Notes payable 10,000 9,000 Bonds payable 4,000 5,000 Total Long-Term Liabilities 14,000 14,000 Total Liabilities 22,000 20,000 STOCKHOLDERS' EQUITY: * Common stock, $15.00 par value
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.

Page1 / 3

ratios3 - Acct 301 - Burbage ratios3.doc/dec07 Financial...

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