ASSETS

ASSETS - EQUITY Current Liabilities: Accounts Payable...

Info iconThis 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 Buildings 600,000 Machinery 300,000 Land 100,000 1,000,000 Less:Accumulated Depreciation (90,000) 910,000 Intangible Assets: Patent 50,000 TOTAL ASSETS 1,802,500 LIABILITIES AND SHAREHOLDER'S
Background 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

This note was uploaded on 10/25/2011 for the course ACG 3341 taught by Professor Jomosankara during the Spring '09 term at FAU.

Ask a homework question - tutors are online