Assets Cash. Accounts receivable Inventories Other current assets Total current assets Net sales Cost of sales Happy Valley Restaurant Ltd Balance Sheet extract As at 31 March 2023 17,000 36,049 37,491 12,000 102,540 657,888 427,627 Liabilities and Equity Accounts payable Short Term Loans Total current liabilities 74,982 37,000 111,982 Happy Valley Restaurant Ltd., reported its financial information for the last financial year:

Assets Cash. Accounts receivable Inventories Other current assets Total current assets Net sales Cost of sales Happy Valley Restaurant Ltd Balance Sheet extract As at 31 March 2023 17,000 36,049 37,491 12,000 102,540 657,888 427,627 Liabilities and Equity Accounts payable Short Term Loans Total current liabilities 74,982 37,000 111,982 Happy Valley Restaurant Ltd., reported its financial information for the last financial year:

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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