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Unformatted text preview: cycle. These assets will not be realizable, sold or consumed within one year or These are liabilities that will be satisfied within one year or operating cycle. These are liabilities that will not be satisfied within one year or operating cycle. Long-term debt Notes payable, due December 31, 2004 120,000 Total liabilities $179,900 S TOCKHOLDERS E QUITY Contributed Capital Capital stock, $10 par, 5,000 shares issued and outstanding Paid-in capital in excess of par value Total Contributed Capital Retained Earnings Total Stockholders Equity $ 50,000 25,000 $ 75,000 187,500 362,500 Total Liabilities and Stockholders Equity $542,400 These are shareholders claims on assets....
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- Spring '07
- Financial Accounting