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Supply missing balance sheet numbers Rustin Craft discovered a piece of wet and partially burned balance sheet after his office was destroyed by fire. He
Supply missing balance sheet numbers
Rustin Craft discovered a piece of wet and partially burned balance sheet after his office was destroyed by fire. He could recall a current ratio of 1.75 and a debt to assets ratio of 45 percent
Complete the balance sheet by supplying the missing amounts
Assets $ 150,000 252,000 54.000 Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Long-term assets Building Less: Accumulated depreciation Total long-term assets Total assets (180,000) 1.080 000 $ D $ 252,000 108.000 480,000 Llabilities and Stockholders' Equity Liabilities Current liabilities Accounts payable Notes payable Income tax payable Total current liabilities Long-term liabilities Bonds payable Mortgage payable Total abilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 270,000 540,000 5Step by Step Solution
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