Given the following information, construct the firms balance sheet: Cash and cash equivalents..............$ 300,000 Accumulated depreciation on
Question:
Given the following information, construct the firm’s balance sheet:
Cash and cash equivalents..............$ 300,000
Accumulated depreciation on plant and equipment....800,000
Plant and equipment.................5,800,000
Accrued wages....................400,000
Long-term debt....................4,200,000
Inventory......................6,400,000
Accounts receivable....................4,100,000
Preferred stock....................500,000
Retained earnings....................7,700,000
Land........................1,000,000
Accounts payable....................2,100,000
Taxes due......................100,000
Common stock....................$ 10 par
Common shares outstanding..............150,000
Current portion of long-term debt...........$ 300,000
Step by Step Answer:
Basic Finance An Introduction to Financial Institutions Investments and Management
ISBN: 978-1111820633
10th edition
Authors: Herbert B. Mayo