The December 31, 2013, balance sheet accounts of Hitt Company are shown here in alphabetical order: Required:

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The December 31, 2013, balance sheet accounts of Hitt Company are shown here in alphabetical order:

The December 31, 2013, balance sheet accounts of Hitt Company

Required:
1. Prepare Hitt's December 31, 2013, balance sheet.
2.
Compute the working capital and the current ratio.
3. Next Level Discuss how the format of Hitt's balance sheet would be different from Requirement 1 if the company used IFRS.

Balance Sheet
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...
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Related Book For  book-img-for-question

Intermediate Accounting Reporting and Analysis

ISBN: 978-1111822361

1st edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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