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For the below Income Statement and Balance Sheet, you are to match the Available Choices with the Accounts that are missing numbers. Total current liabilities
For the below Income Statement and Balance Sheet, you are to match the Available Choices with the Accounts that are missing numbers.
Total current liabilities | 1,200,000 |
Accounts receivable | 400,000 |
Total current assets | 1,500,000 |
Net income | 140,000 |
Cash and cash equivalents | 20,000 |
Inventories | 800,000 |
Retained earnings | 600,000 |
Addition to Retained Earnings | 100,000 |
Total liabilities | 3,000,000 |
Operating income | 200,000 |
Bank notes | 700,000 |
Income before income taxes | 180,000 |
Total assets | 6,000,000 |
S&GA expenses | 400,000 |
Long-term debt | 1,800,000 |
Accounts payable | 450,000 |
Factor receivables (current asset) | 200,000 |
Cost of Goods Sold | 2,000,000 |
Other current assets | 30,000 |
Gross margin | 700,000 |
Property, plant and equipment, net | 4,000,000 |
Common stock | 2,000,000 |
Total current liabilities | 1,200,000 |
Accounts receivable | 400,000 |
Total current assets | 1,500,000 |
Net income | 140,000 |
Cash and cash equivalents | 20,000 |
Inventories | 800,000 |
Retained earnings | 600,000 |
Addition to Retained Earnings | 100,000 |
Total liabilities | 3,000,000 |
Operating income | 200,000 |
Bank notes | 700,000 |
Income before income taxes | 180,000 |
Total assets | 6,000,000 |
S&GA expenses | 400,000 |
Long-term debt | 1,800,000 |
Accounts payable | 450,000 |
Factor receivables (current asset) | 200,000 |
Cost of Goods Sold | 2,000,000 |
Other current assets | 30,000 |
Gross margin | 700,000 |
Property, plant and equipment, net | 4,000,000 |
Common stock | 2,000,000 |
Fill in the following missing numbers. | |
Other current liabilities | |
Short-term marketable securities (a current asset account) | |
Interest paid | |
Long-term marketable securities | |
Revenues | |
Stockholder Equity | |
Dividends paid | |
Depreciation | |
Paid -in Capital | |
Line of credit (a current liability account) | |
Income taxes |
This format is somewhat confusing as below these comments you see a list of accounts adjacent to a list of numbers. Usually, some of the numbers are correct by sheer chance. Your job is to use all of the numbers with all of the accounts. Use the pull-down menu to match the proper account to the correct number.
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