Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Balance Sheet and Income Statement Data for Galaxy Computer Co. is given below BALANCE SHEET Assets 2001 2000 Cash 7,282 9,000 Short term investment

image text in transcribed
image text in transcribed
The Balance Sheet and Income Statement Data for Galaxy Computer Co. is given below BALANCE SHEET Assets 2001 2000 Cash 7,282 9,000 Short term investment 0 48,600 Acc. Receivable 632,160 351,200 Inventories 1,287,360 715,200 Total current assets 1,926,802 1,124,000 Fixed Assets Plant & Equipment 1,202,950 491,000 Less: Acc dep 263,160 146,200 939,790 344,800 Total assets 2,866,592 1,468,800 Liabilities & Equities Current liability A/c Payable 524,160 145,600 Notes payable 720,000 200,000 Accruals 489,600 136,000 total Current liability 1,733,760 481,600 Long-term debt 1,000,000 323,432 Common Stock 460,000 460,000 Retained Earning -327,168 203,768 1,132,832 987,200 Total equities 2,866,592 1,468,800 2

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics: An Intuitive Approach With Calculus

Authors: Thomas Nechyba

2nd Edition

1305650468, 978-1305650466

More Books

Students also viewed these Finance questions

Question

Explain the pages in white the expert taxes

Answered: 1 week ago