6 AMadison Makeup reported the following on its most recent financial statements (in2!3 Miscellaneous financial information4 Total liabilities5Marketable securities6 Net working capital7 Short-term debt8 Total current liabilitiesb9 Total revenueB10 Total stockholders' equity11 Current portion of LT debtbl12 Operating net working capital13 Long-term debt (in LT liabilities)14m 15 What did Madison Makeup report as long-term assets?16Amount298,9160360,05827,135129,494358,5701,187,58418,285224,100128,901

The basic accounting equation is expressed as Assets = Liabilities + Equity. However, the said…

A 1 Madison Makeup reported the following on its most recent financial statements (in 2 3 Miscellaneous financial information 4 Total liabilities 5 Marketable securities 6 Net working capital 7 Short-term debt 8 Total current liabilities - 9 Total revenue 10 Total stockholders' equity 11 Current portion of LT debt ol 12 Operating net working capital 13 Long-term debt (in LT liabilities) 14 m 15 What did Madison Makeup report as long-term assets? B 16 Amount 298,916 0 360,058 27,135 129,494 358,570 1,187,584 18,285 224,100 128,901

A 1 Madison Makeup reported the following on its most recent financial statements (in 2 3 Miscellaneous financial information 4 Total liabilities 5 Marketable securities 6 Net working capital 7 Short-term debt 8 Total current liabilities - 9 Total revenue 10 Total stockholders' equity 11 Current portion of LT debt ol 12 Operating net working capital 13 Long-term debt (in LT liabilities) 14 m 15 What did Madison Makeup report as long-term assets? B 16 Amount 298,916 0 360,058 27,135 129,494 358,570 1,187,584 18,285 224,100 128,901

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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