Question
There are some similar questions that are posted, but I am having trouble with my specific practice problem. The account balances for Hollywood Cineplex Corporation
There are some similar questions that are posted, but I am having trouble with my specific practice problem.
The account balances for Hollywood Cineplex Corporation are listed below. All balances are as of December 31, 2009, except where noted otherwise.
Accounts Payable $16,500 Furniture & Fixtures 32,000 Accounts Receivable 4,500 Notes Payable (due 9/1/11) 20,000 Utility Expense 6,000 Advertising Expense 11,200 Projection Equipment 30,000 Dividends 2,000 Buildings 97,000 Rent Expense - movies 50,600 Common Stock ? Retained Earnings (Jan. 1, 2009) 73,690 Cash 15,000 Salaries and Wages Expense 36,490 Concessions Revenue 56,200 Ticket Sales Revenue 93,500 Cost of Goods Sold 17,800
(concessions) a. Determine Total Assets as of December 31, 2009: $___________________
b. Determine Total Current Assets as of December 31, 2009: $___________________
c. Determine Total Current Liabilities as of December 31, 2009: $___________________
d. Determine Net Income for the year ending December 31, 2009: $ __________________
e. Determine the balance of Common Stock on December 31, 2009: $___________________
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