Question
Checked Balance Sheet Test 21 Hats Inc. owes supplier Sandy this much for straw: 4,630 Customer Chuck owes this much for hats he bought: 710
| Checked | Balance Sheet | |||
| Test 21 | ||||
| Hats Inc. owes supplier Sandy this much for straw: | 4,630 | |||
| Customer Chuck owes this much for hats he bought: | 710 | |||
| Hat's Inc. owes this much on a short-term bank loan: | 1,260 | |||
| Hat's Inc. owes this much of long-term debt: | 7,300 | |||
| Hat's Inc. has this much in its checking account: | 4,130 | |||
| Hat's Inc. has the following items on its shelves, which it will sell: | ||||
| Number | Historical Cost | |||
| Blue item | 400 | 41 | ||
| Red item | 700 | 26 | ||
| Hat's Inc. also has the following items which it won't sell: | ||||
| Historical | Accumulated | |||
| Cost | Deprecation | |||
| Computer | 620 | 320 | ||
| Please answer the following question: | ||||
| 2. What is the Net Worth (Stockholder's Equity) of Hat's Inc.? | ||||
| A Between 8,000 and 15,000 | ||||
| B Between 15,000 and 20,000 | ||||
| C Between 20,000 and 25,000 | ||||
| D Between 25,000 and 32,000 | ||||
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