Krispy Kreme Company, the doughnut company, had the following items on its January 29, 2012, balance sheet
Question:
Krispy Kreme Company, the doughnut company, had the following items on its January 29, 2012, balance sheet (in thousands):
Cash and cash equivalents ......... $ 44,319
Accounts payable ............. 10,494
Total stockholders’ equity .........249,126
Accrued liabilities ............ 28,800
Inventories .............. 16,497
Current maturities of long-term debt .... 2,224
Long-term debt, less current maturities ... 25,369
Other long-term obligations ........ 18,935
Prepare the liabilities section of Krispy Kreme’s balance sheet. Include only the items that are properly included in liabilities. Separate current and long-term liabilities.
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Step by Step Answer:
Three items listed are not liabilities cash and cash equivalents inventories and total stockholders ...View the full answer
Introduction to Financial Accounting
ISBN: 978-0133251036
11th edition
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick
