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Southwest Airlines Income Statement At the end of December 31, 2007. Assets Cash $2,213 Accounts Receivable $845 Property and Equipment $10,874 Supplies $259 Other Assests
| Southwest Airlines | ||||
| Income Statement | ||||
| At the end of December 31, 2007. | ||||
| Assets | ||||
| Cash | $2,213 | |||
| Accounts Receivable | $845 | |||
| Property and Equipment | $10,874 | |||
| Supplies | $259 | |||
| Other Assests | $2,581 | |||
| Total Assets | $16,772 | |||
| Liabilities | ||||
| Accounts Paybale | $1,731 | |||
| Notes Payable | $4,993 | |||
| Other Liabilities | $3,107 | |||
| Total Liabilites | $9,831 | |||
| Total Stockholder's Equity | ||||
| Contibuted Capital | $2,153 | |||
| Retained Earnings | $4,788 | |||
| Total Liabilities and Stockholder's Equity | $16,772 | |||
| Question: | ||||
| 1 - Using the balance sheet , indicate whether the total assets of Southwest Airlines at the end of the year were financed primarly by liabilities or stockholder's equity. | ||||
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Auditing The Risk Management Process
Authors: K. H. Spencer Pickett
1st Edition
0471690538, 978-0471690535
