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The bookkeeper for Franklin's Country Music Bar left this incomplete balance sheet. Franklin's working capital is $105,000 and its debt-to-assets ratio is 40 percent. Required
The bookkeeper for Franklin's Country Music Bar left this incomplete balance sheet. Franklin's working capital is $105,000 and its debt-to-assets ratio is 40 percent. Required Complete the balance sheet by supplying the missing amounts. Assets $ 22.000 33,000 14,000 (43,000) 217.000 Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Long-term assets Building Less: Accumulated depreciation Total long-term assets Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Accounts payable Notes payable Income tax payable Total current liabilities Long-term liabilities Mortgage payable Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 5.000 9,600 36,700 98,000
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