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A company's balance sheet as of January 1, 20X3, is as follows: Account Amount Cash $100,000 Accounts Receivable $80,000 Inventory $120,000 Prepaid Expenses $30,000 Property,
A company's balance sheet as of January 1, 20X3, is as follows:
| Account | Amount |
|---|---|
| Cash | $100,000 |
| Accounts Receivable | $80,000 |
| Inventory | $120,000 |
| Prepaid Expenses | $30,000 |
| Property, Plant & Equipment | $500,000 |
| Accumulated Depreciation | $50,000 |
| Accounts Payable | $60,000 |
| Notes Payable | $150,000 |
| Common Stock | $200,000 |
| Retained Earnings | $220,000 |
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
