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Mgmt 200 Fall 2008 Homework 3

Mgmt 200 Fall 2008 Homework 3 - NAME PUID Please write your...

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NAME: ___________________________ PUID _________________ Please write your name in BLOCK letters and in the format: Last name, First name. Management 200 – Introductory Financial Accounting– Fall 2008 Krannert School of Management - Purdue University Homework 3 – due Friday, September 19, 2008 IMPORTANT: This homework must be turned in on this sheet of pages (please staple). It is preferred that you print it out two-sided if at all possible. Assignments not completed on this form will not be graded. The grade for this assignment will be based on the correctness of a partial portion of the assignment – the full assignment will not be graded. Please print your name and PUID clearly and legibly in the spaces above. Nougat Corporation was founded on January 3, 2001. The company operates a retail store that sells hand-crafted chocolates. Below is the balance sheet as at December 31, 2006: Nougat Corporation Balance Sheet as at December 31, 2006 Cash 25,300 Accounts payable 17,200 Accounts receivable 41,600 Income tax payable 5,400 Inventory 28,000 Bank loan 60,000 Prepaid expenses 6,500 Capital stock
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