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The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below. Assets Liabilities and Equity Current assets: Current liabilities: Cash $
The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below.
Assets
Liabilities and Equity
Current assets:
Current liabilities:
Cash
$
64
Accounts payable
$
234
Accounts receivable (net)
179
Other current liabilities
73
Notes receivable
54
Total current liabilities
307
Inventory
219
Long-term liabilities
91
Prepaid expenses
39
Total liabilities
398
Total current assets
555
Shareholders' equity:
Equipment (net)
257
Common stock
146
Retained earnings
268
Total shareholders' equity
414
Total assets
$
812
Total liabilities and equity
$
812
Working capital is
Multiple Choice
$321 thousand.
$248 thousand.
$555 thousand.
$157 thousand
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Accounting for Governmental and Nonprofit Entities
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
16th Edition
78110939, 978-0078110931
