Question
Use the following information from the balance sheet of Raineer Plumbing to determine the missing amounts. Cash and cash equivalents $ 40,000 Accounts payable $
Use the following information from the balance sheet of Raineer Plumbing to determine the missing amounts.
| Cash and cash equivalents | $ | 40,000 | Accounts payable | $ | 32,000 | ||
| Retained earnings | ? | Accounts receivable | 120,000 | ||||
| Inventory | ? | Notes payable (due in 2 years) | 50,000 | ||||
| Common stock | 100,000 | Property, plant and equipment (net) | ? | ||||
| Total current assets | 235,000 | Total assets | 400,000 | ||||
Inventory _____________
Property, Plant and Equipment (net) ____________
Retained Earnings _____________
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Financial Reporting And Analysis
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
8th Edition
1260247848, 978-1260247848
