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i need help in this two problems ANSWER QUESTIONS 1 AND 2 USING THE FOLLOVING INFORMATION Sho own below is an incomplete pro forma balance
i need help in this two problems
ANSWER QUESTIONS 1 AND 2 USING THE FOLLOVING INFORMATION Sho own below is an incomplete pro forma balance sheet for a company for June 2019 Assume that the company has a $50,000 minimum cash policy PRO FORMA BALANCE SHEET June 2019 ASSETS Cash Accounts Receivable nventory Total Current Assets Plant and Equipment (Gross) Less: Accumulate Depreciation Plant and Equipment (Net) Total Assets 300,000 700,000 100,000 600,000 Notes Payable-Bank Accounts Payable Income Taxes Payable Other Accruals Total Current Liabilities 70,000 80,000 50,000 300,000 Mortgage Payable Common Stock Retained Eamings Total Liabilities and Equity 200,000 1. The Cash balance is: (Circle your answer, 4 points) b $100,000 d cannot determine without knowing the Total Current Assets 2. The Notes Payable-Bank balance is. (Circle your answer, 4 points) a. $50,000 6 $100,000 d. cannot determine without knowing the Total Current LiabilitiesStep by Step Solution
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