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A company's balance sheet as of January 1, 20X12, is as follows: Account Amount Cash $100,000 Accounts Receivable $120,000 Inventory $130,000 Prepaid Expenses $45,000 Property,
A company's balance sheet as of January 1, 20X12, is as follows:
| Account | Amount |
|---|---|
| Cash | $100,000 |
| Accounts Receivable | $120,000 |
| Inventory | $130,000 |
| Prepaid Expenses | $45,000 |
| Property, Plant & Equipment | $550,000 |
| Accumulated Depreciation | $80,000 |
| Accounts Payable | $110,000 |
| Notes Payable | $140,000 |
| Common Stock | $220,000 |
| Retained Earnings | $280,000 |
Calculate the following:
- Total Assets
- Total Liabilities
- Total Equity
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Introduction to Financial Accounting
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick
11th edition
978-0133251111, 013325111X, 0133251039, 978-0133251036
