Question
Prepare balance sheet for ABCL company. At the end of the year 2018, the company had 15,000,000 cash. The estimated value of Furniture and Fixtures
Prepare balance sheet for ABCL company. At the end of the year 2018, the company had 15,000,000 cash. The estimated value of Furniture and Fixtures of the company worth $12,500 and Computing devices was $3,500. No accumulated depreciation could be applied to these items as these were recently bought. Due to the large value of a patent "Alpha Cipher" the company had Intellectual Property assets of $13,184,000. There were no current liabilities, but they have a long term debt of $20,000,000. The Shareholders Equity is given as follows:
Series A Preferred Stock $5,000,000
Common Stock $3,200,000
Retained Earnings 0
- What are the total current assets?
- What are the total assets?
- What are the total liabilities?
- What are total shareholders equity?
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