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A company's balance sheet as of January 1, 20X24, is as follows: Account Amount Cash $140,000 Accounts Receivable $160,000 Inventory $170,000 Prepaid Expenses $85,000 Property,
A company's balance sheet as of January 1, 20X24, is as follows:
Account | Amount |
---|---|
Cash | $140,000 |
Accounts Receivable | $160,000 |
Inventory | $170,000 |
Prepaid Expenses | $85,000 |
Property, Plant & Equipment | $950,000 |
Accumulated Depreciation | $160,000 |
Accounts Payable | $180,000 |
Notes Payable | $240,000 |
Common Stock | $380,000 |
Retained Earnings | $490,000 |
Calculate the following:
- Total Assets
- Total Liabilities
- Total Equity
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