Question
Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $100,000 Accounts Payable $35,000 Accounts Receivable $70,000 Notes Payable $40,000 Inventory $80,000 Long-term Debt $110,000 Equipment
Assets | Amount (USD) | Liabilities and Equity | Amount (USD) |
Cash | $100,000 | Accounts Payable | $35,000 |
Accounts Receivable | $70,000 | Notes Payable | $40,000 |
Inventory | $80,000 | Long-term Debt | $110,000 |
Equipment | $180,000 | Shareholders' Equity | $300,000 |
Compute the total assets and total liabilities & equity based on the provided balance sheet.
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
25th edition
978-1285069609, 1285069609, 978-1133607601
