Question
Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $400,000 Accounts Payable $140,000 Accounts Receivable $250,000 Notes Payable $200,000 Inventory $260,000 Long-term Debt $400,000 Equipment
Assets | Amount (USD) | Liabilities and Equity | Amount (USD) |
Cash | $400,000 | Accounts Payable | $140,000 |
Accounts Receivable | $250,000 | Notes Payable | $200,000 |
Inventory | $260,000 | Long-term Debt | $400,000 |
Equipment | $800,000 | Shareholders' Equity | $1,100,000 |
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
