Pedrick, Inc. reports the following liabilities (in thousands) on its January 31, 2012, balance sheet and notes
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Pedrick, Inc. reports the following liabilities (in thousands) on its January 31, 2012, balance sheet and notes to the financial statements.
Instructions(a) Identify which of the above liabilities are likely current and which are likely longterm. Say if an item fits in neither category. Explain the reasoning for your selection.(b) Prepare the liabilities section of Pedrick??s balance sheet as at January 31,2012.
Balance SheetBalance 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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Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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