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The bookkeeper for Rundles Country Music Bar left this incomplete balance sheet. Rundles working capital is $91,000 and its debt-to-assets ratio is 40 percent. Required
The bookkeeper for Rundles Country Music Bar left this incomplete balance sheet. Rundles working capital is $91,000 and its debt-to-assets ratio is 40 percent. Required Complete the balance sheet by supplying the missing amounts.
Complete the balance sheet by supplying the missing amounts. Assets 28,000 37,000 18,000 (49,000) 224.000 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 6.000 8,600 35,900 98,000Step by Step Solution
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