Question: Please help me with this question below, I've been asking on the site and have been still getting it wrong, can you help? I need
Please help me with this question below, I've been asking on the site and have been still getting it wrong, can you help? I need to figure out whats missing on the balance sheet.
| The following accounts are taken from the financial statements of Paradise Resorts. at September 30, 2013. (Amounts are in millions.) |
| Accounts Payable | $ | 590 | |
| Cash | 3,650 | ||
| Common Stock | 12,600 | ||
| Equipment | 3,250 | ||
| Income Tax Expense | 410 | ||
| Interest Expense | 160 | ||
| Notes Payable (long-term) | 1,450 | ||
| Notes Payable (short-term) | 410 | ||
| Prepaid Rent | 1,650 | ||
| Retained Earnings | 3,700 | ||
| Service Revenue | 10,800 | ||
| Short-term Investments | 7,400 | ||
| Software | 2,800 | ||
| Fill in the missing pieces of the balance sheet. | |||
PARADISE RESORTS
| Balance Sheet | |||
| At September 30, 2013 | |||
| (in millions) | |||
| Assets | Liabilities | ||
| Current Assets | Current Liabilities | ||
| Cash | $3,650 | Accounts Payable | $590 |
| Prepaid Rent | 1,650 | Notes Payable (short-term) | 410 |
| Short-term Investments | 7,400 | ||
| Total Current Assets | 12,700 | Total Current Liabilities | 1,000 |
| Equipment | 3,250 | Notes Payable (long-term) | 1,450 |
| Software | 2,800 | ||
| Total Liabilities | 2,450 | ||
| Stockholders' Equity | |||
| Common Stock | 12,600 | ||
| Retained Earnings | 3,700 | ||
| 6,050 | Total Stockholders' Equity | 16,300 | |
| Total Assets | $18,750 | Total Liabilities and Stockholders' Equity | $18,750 |
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