Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Q2) The following items were taken from the financial statements of Panda Hypermarket Company. (All dollars are in thousands.) Common stock $2,826 Prepaid expenses
Q2) The following items were taken from the financial statements of Panda Hypermarket Company. (All dollars are in thousands.) Common stock $2,826 Prepaid expenses 1,366 Equipment 6,705 Cash $1,728 Accumulated depreciation equipment 3,547 Accounts payable 1,344 Retained earnings 6,896 Investments- Long term 2,847 Note payable - Long term 810 Investments Short-term 1,743 Income taxes payable 243 Accounts receivable 1,277 Instructions Prepare a classified balance sheet in good form as of December 31, 2009 Q1) find the total current assets: a. 6,114. b. 4,371. c. 4,837. d. 4,748. Q2) find the total of property, plant, and equipment e. 6,705. 3,158. g. 3,858. h. 5,535. Q3) Long term Assets: e. 3,750. 2,750. g. 2,847. h. 3,500. Q4) Total Assets: e. 13,119. f. 12,590. g. 13,590. h. 12,119. Q5) Total current liability:
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started