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Use your knowledge of balance sheets to fill in the amounts missing in the text. Cash $10,000 Accounts payable $12,000 Accounts receivable 100,000 Notes payable
Use your knowledge of balance sheets to fill in the amounts missing in the text.
Cash | $10,000 | Accounts payable | $12,000 | |
Accounts receivable | 100,000 | Notes payable | 50,000 | |
Inventory | Total current liabilities | |||
Total current assets | $220,000 | Long term debt | ||
Gross P&E | 500,000 | Total liabilities | $190,000 | |
Less accumulated depreciation | Common stock | 100,000 | ||
Net P&E | $375,000 | Paid in capital | ||
Total assets | Retained earnings | 150,000 | ||
Total stockholder's equity | ||||
Total liabilities and equity |
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