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Unformatted text preview: Particulars Details Amount Current Asset Cash 3000 Receivables, less allowance of $3,000 58000 Invent ory 54000 Prepai d expenses 2000 117000 Plant and Equipment Machinery and equipment 300000 Less: Accumulated depreciation-200000 100000 Other Asset Buildin gs 75000 Land 11000 Other assets (long term) 7000 93000 Total Asset 310000 Current Liabilities Accou nts Payable 35000 Other accrued expenses 8000 Accrue 3000 d income taxes Current portion of long-term debt 7000 53000 Long Term Liabilities Deferred Income Tax Liability 24000 Long tem debt 99870 123870 Owner's Equity Common Stock (5,724 issued) 3180 Retain ed Earnings 129950 133130 Liability and Owners Equity 310000 Student Comments : Attached Files : Instructor Feedback Grade : 105 out of 100 Comments : 75+5 Q3-15 N is current asset. For P3-1, it looks like you did the wrong problem, those numbers do not tie back to P3-1. You can email me the correct P3-1 for points if you prefer....
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- Spring '12
- Balance Sheet, AP, Generally Accepted Accounting Principles, CL NL CL