ASSETS - EQUITY Current Liabilities Accounts Payable 35,000...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
ASSETS Current Assets: Cash 90,000 Accounts Receivable 207,000 Less: Allowance for Uncollectible Accounts (13,500) 193,500 Notes Receivable 75,000 Inventory 245,000 Prepaid Rent 24,000 Short- Term Investments 75,000 Total Current Assets 702,500 Investments Maretable securities 100,000 Land 40,000 Total Investments 140,000 Property, Plant & equipment: Buildings 600,000 Machinery 300,000 Land 100,000 1,000,000 Less:Accumulated Depreciation (90,000) Net Property, Plant & equipment 910,000 Intangible Assets: Patent 50,000 TOTAL ASSETS 1,802,500 LIABILITIES AND SHAREHOLDER'S
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: EQUITY Current Liabilities: Accounts Payable 35,000 Salaries Payable 13,500 Interest Payable 18,000 Current Maturities of long-term debt 20,000 Total Current Liabilities: 86,500 Long-Term Liabilities: Note Payable 204,000 Bond Payable 360,000 Total Current Liabilities: 564,000 Shareholder's Equity: Common stock, no par value; 500,000 shares authorized; 250,000 shares issued and outstanding 250,000 Retained Earnings 700,000 Total Shareholder's Equity: 950,000 LIABILITIES AND SHAREHOLDER'S EQUITY 1,600,500...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern