Given the following information, construct the firms balance sheet: Cash and cash equivalents................$ 300,000 Accumulated depreciation on
Question:
Given the following information, construct the firm’s balance sheet:
Cash and cash equivalents…………………………………………………………..............…..$ 300,000
Accumulated depreciation on plant and equipment……………………………………..800,000
Plant and equipment…………………………………………………………………...................$,800,000
Accrued wages…………………………………………………………………………........................400,000
Long- term debt 4,200,000 inventory…………………………………………………..........6,400,000
Accounts receivable …………………………………………………………………….................4,100,000
Preferred stock………………………………………………………………………….…...................500,000
Retained earnings………………………………………………………………………..................7,700,000
Land……………………………………………………………………………………..........................1,000,000
Accounts payable………………………………………………………………………..................2,100,000
Taxes due………………………….......................……………………………………………………..100,000
Common stock $ 10 par common
Shares outstanding……………………………….................………………………………………150,000
Current portion of long- term debt……………………….......…………………………....$ 300,000
Expert Answer:
Basic Finance An Introduction to Financial Institutions Investments and Management
ISBN: 978-1111820633
10th edition
Authors: Herbert B. Mayo
