A comparative balance sheet and an income statement for Rowan Company are given below: Millen Corporation Balance
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A comparative balance sheet and an income statement for Rowan Company are given below:
Millen Corporation | ||
Balance Sheet | ||
June 30 | ||
Assets | ||
Cash | $ | 120,000 |
Accounts receivable | 166,000 | |
Inventory | 37,200 | |
Plant and equipment, net of depreciation | 554,800 | |
Total assets | $ | 878,000 |
Liabilities and Stockholders’ Equity | ||
Accounts payable | $ | 93,000 |
Common stock | 586,000 | |
Retained earnings | 199,000 | |
Total liabilities and stockholders’ equity | $ | 878,000 |
Related Book For
Managerial Accounting
ISBN: 978-0077522940
15th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
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