Question
Table 4-1 Garland Company Balance Sheet Assets: Cash and marketable securities $500,000 Accounts receivable 800,000 Inventories 1,350,000 Prepaid expenses 50,000 Total current assets $2,700,000 Fixed
Table 4-1
Garland Company Balance Sheet
Assets:
Cash and marketable securities $500,000
Accounts receivable 800,000
Inventories 1,350,000
Prepaid expenses 50,000
Total current assets $2,700,000
Fixed assets 5,000,000
Less: accum. depr. (2,000,000)
Net fixed assets $3,000,000
Total assets $5,700,000
Liabilities:
Accounts payable $400,000
Notes payable 900,000
Accrued taxes 75,000
Total current liabilities $1,375,000
Long-term debt 1,200,000
Owner
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Finance For Non Financial Managers
Authors: Gene Siciliano
1st Edition
0071413774, 978-0071413770
