Prepare the Balance Sheet in the proper format 2. Solve for Net Working Capital 3. Determine the current ratio Account Debit Credit Accounts Payable $77,000 Accounts Receivable $96,900 Accrued Liabilities 91,000 Accumulated Depreciation 338,400 Additional Paid-In Capital 25,000 Building 1,786,400 Cash 47,800 Common Stock 300,000 Current Portion-Long-Term Debt 14,000 Furniture and Fixtures 275,400 Inventories 19,900 Land 115,500 Long-Term Debt 1,527,000 Other Assets 172,200 Other Current Liabilities 40,800 Prepaid Expenses 2,400 Retained Earnings 103,300
Prepare the Balance Sheet in the proper format 2. Solve for Net Working Capital 3. Determine the current ratio Account Debit Credit Accounts Payable $77,000 Accounts Receivable $96,900 Accrued Liabilities 91,000 Accumulated Depreciation 338,400 Additional Paid-In Capital 25,000 Building 1,786,400 Cash 47,800 Common Stock 300,000 Current Portion-Long-Term Debt 14,000 Furniture and Fixtures 275,400 Inventories 19,900 Land 115,500 Long-Term Debt 1,527,000 Other Assets 172,200 Other Current Liabilities 40,800 Prepaid Expenses 2,400 Retained Earnings 103,300
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter13: Financial Statement Analysis
Section: Chapter Questions
Problem 13.1P
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Question
. Prepare the Balance Sheet in the proper format
2. Solve for Net
3. Determine the
Account | Debit | Credit |
Accounts Payable | $77,000 | |
Accounts Receivable | $96,900 | |
Accrued Liabilities | 91,000 | |
338,400 | ||
Additional Paid-In Capital | 25,000 | |
Building | 1,786,400 | |
Cash | 47,800 | |
Common Stock | 300,000 | |
Current Portion-Long-Term Debt | 14,000 | |
Furniture and Fixtures | 275,400 | |
Inventories | 19,900 | |
Land | 115,500 | |
Long-Term Debt | 1,527,000 | |
Other Assets | 172,200 | |
Other Current Liabilities | 40,800 | |
Prepaid Expenses | 2,400 | |
Retained Earnings | 103,300 | |
Net Working Capital | ????? |
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