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Finley, Inc. Balance Sheet As of July 31, 2023 Accounts Payable Cash 197,500 Accounts Receivable 196,200 Uneared Revenue 56,000 9,500 Allowance for doubtful accounts
Finley, Inc. Balance Sheet As of July 31, 2023 Accounts Payable Cash 197,500 Accounts Receivable 196,200 Uneared Revenue 56,000 9,500 Allowance for doubtful accounts 11,300 Notes Payable 225,000 Trading Securities 95,200 Bonds payable 400,000 Prepaid insurance 7,000 Common Stock 225,000 Property Plant and Equipment 743,000 Paid in Capital in excess of par value 105,000 Accumulated Depreciation 218,300 Retained Earnings 262,500 Equity Securities 250,000 Trademarks 50,000 Accumulated Other Comprehensive Income Treasury Stock 46,300 20,000 Use the balance sheet above and the following additional information to answer questions A through H: Additional Information: 1. Cash includes $100,000 deposited in a bond sinking fund 2. Trading securities are stated at market value; their cost is $123,000 3. Management intends to hold the Equity Investments long-term 4. The note payable matures in 90 days, however, management has executed a contractual agreement to refinance and convert the debt to long-term. 5. The Bond Payable will be paid off in installments. $50,000 of the $225,000 bond is due to mature next year. (A) Total Current Assets equal: work: (B) Total Long-term Investments equal: work: (C) Total Property, Plant & Equipment equal: work: (D) Intangible Assets equal: work: (E) Total Assets equals: work: (F) Total Current Liabilities equal: work: (G) Total Long-term Liaibilities equal: work: (H) Total Stockholders' Equity equal: work:
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