Consider the balance sheet of Dallas Industries as shown below. Dallas provided the following information: retained earnings $800,000, accounts payable $100,000, accruals $100,000; long-term debt $200,000, common stock $200,000; net fixed assets $900,000, accounts receivable $250,000, inventory $200,000, and cash $50,000. 

Prepare Dallas Industries’ balance sheet showing total current assets, total assets, total current liabilities, and total liabilities & equity. show work

Answer rating: 100% (QA)

Balance sheet for Dallas Industries Amount Assets Current Assets Cash 50000 Accounts Receivable 2500... View the full answer