This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: • total liabilities & equity = $135,000 +42,000 = $177,000 d) Reasonable supported answer that matches your calculations Part D (10 marks) 1) Land is a non depreciable non-current asset. The company owns it and therefore it belongs on the balance sheet. 2) • Cash $1642 • Inventory $1480 • Land $4510 • Total Assets $7632 3) Share capital on the balance sheet accounts for initial cash paid by shareholders who purchased shares from company. Looking at cash, $1642, the initial cash paid is no longer available for use. 4)R/E is the sum of the company's profits after dividend payments since the company's inception. 5) $10116- $9881 = $235 Net Income 6) R/E = $1,107 October 1, 2008 $1222-$115...
View Full Document
- Spring '09
- Balance Sheet, Generally Accepted Accounting Principles, total assets