WorldGone, Inc. declared bankruptcy on September 25, 2015 through a Chapter filing. WorldGone's balance sheet at the
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WorldGone, Inc Balance Sheet as of September 25,2015 millions of dolla Liabilities and Equity Assets Current assets Cuent liabilities: Accrued wages (10,000 employes Unpaid employee benefits Unsecured customer deposits Accrued taxes Accounts payable Notes payable to banks 18 15 69 252 Cash andmarketable 263 ccounts receivable 1428 2.100 Inventory Total $3,791 1975 $3,040 Fixed assets: Total Gross plant and equipment $7,752 Less: Depreciaion 1.249 Long-tem debt First mortgage Subordinate debentures $1,232 2214 $3,446 Net plant and equipment $6,04 Total Stockholders equity: Preferred stock (100 million shares 100 Common stockand paid-in surplus (200 million shares) 2,500 Retainedeamings 1.209 S3,809 $10,295 Total Total assets Totalliabilities and equity
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The accrued wages were earned within the last 90 days prior to filing for bankruptcy The unpaid employee benefits were due in the six months prior to ...View the full answer
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Related Book For
Finance Applications and Theory
ISBN: 978-0077861681
3rd edition
Authors: Marcia Cornett, Troy Adair
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