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Use the following Balance Statement to answer the questions and missing elements below. Assets Current Cash on hand $ 20,000 Inventory 46,000 Accounts receivable 1,000
Use the following Balance Statement to answer the questions and missing elements below. Assets Current Cash on hand $ 20,000 Inventory 46,000 Accounts receivable 1,000 Liabilities Current Payroll Taxes Accounts payable Short term loan Total $ 7,000 12,000 29,000 1,000 Total (A) Fixed Property Building Store fixtures Equipment Fixed Mortgage Long term loan $200,000 75,000 12,000 2,000 $ 97,000 7,000 Total Total (C) Total Assets (B) Total Liabilities ) Net Worth (E)
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