Listed below are selected account balances for Hemmingway Company for June 30, 2004. Determine each of the
Question:
Listed below are selected account balances for Hemmingway Company for June 30, 2004.
Determine each of the following amounts.
a. Current assets
b. Current liabilities
c. Property, plant, and equipment
d. Total assets
e. Long-term liabilities
f. Total liabilities
g. Stockholders' equity
h. Total liabilities and stockholders' equity
i. Workingcapital
Transcribed Image Text:
$250,000 390,000 50,000 571,300 38,000 279,000 52,000 45,000 375,000 36,000 $95,300 Land Accounts payable Accounts receivable Accumulated depreciation Buildings Cash Contributed capital Cost of goods sold Equipment Interest payable 78,100 Merchandise inventory 318,000 750,000 Notes payable, current portion Notes payable, long-term 34,500 Prepaid insurance 700,000 Retained earnings 840,000Supplies on hand 450,000 Trademarks 38,000 Wages expense Wages payable
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a Current assets Cash 34500 Accounts receivable 78100 Merchandise inventory 390000 Supplies on hand ...View the full answer
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Related Book For
Financial Accounting Information For Decisions
ISBN: 978-0324672701
6th Edition
Authors: Robert w Ingram, Thomas L Albright
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