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Gamma Enterprises' balance sheet as of January 1, 20X73, is as follows: Account Amount Cash $410,000 Accounts Receivable $430,000 Inventory $440,000 Prepaid Expenses $245,000 Property,
Gamma Enterprises' balance sheet as of January 1, 20X73, is as follows:
| Account | Amount |
|---|---|
| Cash | $410,000 |
| Accounts Receivable | $430,000 |
| Inventory | $440,000 |
| Prepaid Expenses | $245,000 |
| Property, Plant & Equipment | $2,700,000 |
| Accumulated Depreciation | $520,000 |
| Accounts Payable | $540,000 |
| Notes Payable | $920,000 |
| Common Stock | $1,240,000 |
| Retained Earnings | $1,660,000 |
Calculate the following:
- Total Assets
- Total Liabilities
- Total Equity
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Financial Accounting in an Economic Context
Authors: Jamie Pratt
9th edition
9781118803035, 1118582551, 1118803035, 978-1118582558
