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A company's balance sheet as of January 1, 20X18, is as follows: Account Amount Cash $120,000 Accounts Receivable $140,000 Inventory $150,000 Prepaid Expenses $65,000 Property,
A company's balance sheet as of January 1, 20X18, is as follows:
| Account | Amount |
|---|---|
| Cash | $120,000 |
| Accounts Receivable | $140,000 |
| Inventory | $150,000 |
| Prepaid Expenses | $65,000 |
| Property, Plant & Equipment | $750,000 |
| Accumulated Depreciation | $120,000 |
| Accounts Payable | $140,000 |
| Notes Payable | $180,000 |
| Common Stock | $300,000 |
| Retained Earnings | $390,000 |
Calculate the following:
- Total Assets
- Total Liabilities
- Total Equity
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Accounting Information Systems
Authors: Marshall B. Romney, Paul J. Steinbart
12th edition
132552620, 978-0132552622
