USE THE FOLLOWING INFORMATION TO CONSTRUCT A BALANCE SHEET: Assume that the only accounts on the balance
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USE THE FOLLOWING INFORMATION TO CONSTRUCT A BALANCE SHEET:
Assume that the only accounts on the balance sheet are those listed below. Fill in this chart with the data provided and then answer questions 28, 29 and 30.
Cash ____________ Notes payable ____________
Accounts receivable ____________ Accounts payable ____________
Inventory ____________ Long - term debt ____________
Gross fixed assets ____________ Equity ____________
(Accumulated depreciation) ____________ Total liab & equity ____________
Net fixed assets ____________
Total assets ____________
28. Cash = ____________.
29. Long - term debt = ____________.
30. Total assets =____________.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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