Question
E) Company Belkin Inc, shows the following Balance Sheet. Assets Liabilities & SHE Cash 5000 Accounts payable 5000 Prepaid rent 1000 Salaries payable 2000 Unexpired
E) Company Belkin Inc, shows the following Balance Sheet.
Assets | Liabilities & SHE | ||||
Cash |
| 5000 | Accounts payable |
| 5000 |
Prepaid rent |
| 1000 | Salaries payable |
| 2000 |
Unexpired insurance |
| 4000 | Unearned revenue | 3000 | |
Accounts receivable | 6000 | Income taxes payable |
| 5000 | |
Supplies |
| 5000 | |||
Current assets | 21000 | Current liabilities | 15000 | ||
Notes payable |
| 55000 | |||
Automobile | 50000 |
| Total liabilities: |
| 70000 |
Accoumulated depreciation: auto | -10000 | 40000 | Stockholders` Equity: | ||
Equipment and music | 40000 |
| Capital stock |
| 3000 |
Accoumulated depreciation: equipment | -11000 | 29000 | Retained earnings |
|
|
Total stockholders` equity |
| ||||
Total assets |
| 90000 | Total liabilities and stockholders` equity |
| 90000 |
Which is the amount of retained earnings?
What is the net book value of the company?
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