Question
Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets: Cash $ 200 $ 140
Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: |
Year 2 | Year 1 | |||
Current assets: | ||||
Cash | $ | 200 | $ | 140 |
Accounts receivable | 200 | 210 | ||
Inventory | 120 | 160 | ||
Prepaid expenses | 54 | 64 | ||
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Total current assets | $ | 574 | $ | 574 |
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Current liabilities: | ||||
Accounts payable | $ | 130 | $ | 130 |
Accrued liabilities | 80 | 84 | ||
Notes payable, short term | 64 | 54 | ||
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Total current liabilities | $ | 274 | $ | 268 |
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Sales on account during the year totaled $1,400 thousand. Cost of goods sold was $870 thousand.
rev: 05_04_2016_QC_CS-50902 |
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