Question
George's Pizzeria has the following information as of December 31, 2002; pizza ovens, $25,000; furniture, $12,500; accounts payable, $3,500; notes payable, $12,500; accumulated depreciation, $10,000;
George's Pizzeria has the following information as of December 31, 2002; pizza ovens, $25,000; furniture, $12,500; accounts payable, $3,500; notes payable, $12,500; accumulated depreciation, $10,000; wages payable, $1,500; taxes payable, $2,500; and equipment loan, $18,000. Does he have a problem with his current balance sheet?
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Foundations Of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
11th Canadian Edition
1259024970, 978-1259265921
