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A company's balance sheet as of January 1, 20X48, is as follows: Account Amount Cash $220,000 Accounts Receivable $240,000 Inventory $250,000 Prepaid Expenses $165,000 Property,
A company's balance sheet as of January 1, 20X48, is as follows:
| Account | Amount |
|---|---|
| Cash | $220,000 |
| Accounts Receivable | $240,000 |
| Inventory | $250,000 |
| Prepaid Expenses | $165,000 |
| Property, Plant & Equipment | $1,750,000 |
| Accumulated Depreciation | $320,000 |
| Accounts Payable | $340,000 |
| Notes Payable | $560,000 |
| Common Stock | $700,000 |
| Retained Earnings | $920,000 |
Calculate the following:
- Total Assets
- Total Liabilities
- Total Equity
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Essentials of Accounting for Governmental and Not-for-Profit Organizations
Authors: Paul A. Copley
10th Edition
007352705X, 978-0073527055
