Question
The McFadden Company reports the following balances on its Dec. 31, 2019 balance sheet: Amounts in thousands Accounts payable $60 Accounts receivable $120 Accumulated depreciation
The McFadden Company reports the following balances on its Dec. 31, 2019 balance sheet: Amounts in thousands Accounts payable $60 Accounts receivable $120 Accumulated depreciation $350 Fixed assets (net) $900 Inventory $150 Long-term debt (Bonds) $400 Paid-in capital in excess of par $510 Retained Earnings $30 Total assets $1240 Total liabilities $500 All of the remaining accounts are listed below. Calculate the balance in each. Accruals __________________________ Cash ____________________________ Common Stock ________________________ Fixed Assets (gross) ______________________ In addition, the firm has 50,000 shares of stock. Based on this, calculate: Par Value ____________________________ Original Stock Price when issued_____________________
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