Kenneth Clark, the CFO of Pharoah Automotive, Inc., is putting together this year's financial statements. He...
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Kenneth Clark, the CFO of Pharoah Automotive, Inc., is putting together this year's financial statements. He has gathered the following balance sheet information: The firm had a cash balance of $24,600, accounts payable of $164,800, common stock of $314,800, retained earnings of $513,800, inventory of $214,000, goodwill and other assets equal to $80,300, net plant and equipment of $712,800, and short-term notes payable of $22,700. It also had accounts receivable of $142,800 and other current assets of $12,800. How much long-term debt does Pharoah Automotive have? Kenneth Clark, the CFO of Pharoah Automotive, Inc., is putting together this year's financial statements. He has gathered the following balance sheet information: The firm had a cash balance of $24,600, accounts payable of $164,800, common stock of $314,800, retained earnings of $513,800, inventory of $214,000, goodwill and other assets equal to $80,300, net plant and equipment of $712,800, and short-term notes payable of $22,700. It also had accounts receivable of $142,800 and other current assets of $12,800. How much long-term debt does Pharoah Automotive have?
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To find the longterm debt of Pharoah Automotive we can use the following formula Longterm Debt Tota... View the full answer
Related Book For
Fundamentals of corporate finance
ISBN: 978-0470876442
2nd Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
Posted Date:
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