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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
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
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