Question
Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $200,000 Accounts Payable $60,000 Accounts Receivable $150,000 Notes Payable $80,000 Inventory $160,000 Long-term Debt $200,000 Equipment
Assets | Amount (USD) | Liabilities and Equity | Amount (USD) |
Cash | $200,000 | Accounts Payable | $60,000 |
Accounts Receivable | $150,000 | Notes Payable | $80,000 |
Inventory | $160,000 | Long-term Debt | $200,000 |
Equipment | $400,000 | Shareholders' Equity | $550,000 |
Find out the total assets and total liabilities & equity given the balance sheet provided above.
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
25th edition
978-1285069609, 1285069609, 978-1133607601
