Area: Accounting System: applications

2. Below are ending account balances of a company at the end of a period ($000) after all the necessary adjustments and profit calculation.

Using the balance sheet equation as a starting point, determine the missing amounts: (1), (2), (3), and (4).

Long-term debt $ 190

Cash (1)

Total shareholders' equity (2)

Total liabilities (3)

Accounts receivable 450

Ordinary shares 75

Inventory 375

Accounts payable 575

Property, plant, and equipment 525

Additional shareholders' equity 650

Other assets 200

Other liabilities (4)

Total assets 2,000