Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

The bookkeeper for Zachary's Country Music Bar left this incomplete balance sheet. Zachary's working capital is $101,000 and its debt to assets ratio is 50

image text in transcribed

The bookkeeper for Zachary's Country Music Bar left this incomplete balance sheet. Zachary's working capital is $101,000 and its debt to assets ratio is 50 percent. Required Complete the balance sheet by supplying the missing amounts. Assets Current assets Cash $ 21,000 35,000 15,000 (30,000) 228,000 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 12,000 10,300 36,600 98,000

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_2

Step: 3

blur-text-image_3

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

More Books

Students explore these related Accounting questions

Question

What is Aufbau's rule explain with example?

Answered: 3 weeks ago