ACCT212_WorkingPapers_E1-17A

ACCT212_WorkingPapers_E1-17A - operations Hombran Doughnuts...

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FINANCIAL ACCOUNTING - Eighth Edition Solutions Manual Chapter 1: The Financial Statements Page 1 of 1 E 1-17A (10-15 min.) Requirements 1. Use these data to write Hombran Doughnuts’ accounting equation. 2. How much in resources does Hombran have to work with? 3. How much does Hombran owe creditors? 4. Solution: Req. 1 (Amounts in millions) Assets = Liabilities + Stockholders’ Equity Total Req. 2 Req. 3 Req. 4 Learning Objectives 3, 4: Using the accounting equation; evaluating business
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Unformatted text preview: operations Hombran Doughnuts has current assets of $290 million; property, plant, and equipment $150 million and long-term liabilities total $310 million.of $490 million; and other assets totaling $150 million. Current liabilities are $150 million and long-term liabilities total $310 million. How much of the companys assets do the Hombran stockholders actually own?...
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