Complete the balance sheet for General Aviation, Inc. based on the following financial data. Statement of Financial Position General Aviation, Inc. December 31, 2020 Assets Cash P 8,005 Marketable securities Accounts receivable Inventories Total current assets Gross fixed assets Less: Accumulated depreciation Net fixed assets P50,000 Total assets Liabilities and Stockholders' Equity Accounts payable Notes payable P28,800 Accruals P18,800 Total current liabilities Long-term debts Total liabilities Stockholders' equity Preferred stock 2,451 30,000 6,400 90,800 Common stock at par Paid-in capital in excess of par Retained earnings Total stockholders' equity Total liabilities and stockholders' equit

Complete the balance sheet for General Aviation, Inc. based on the following financial data. Statement of Financial Position General Aviation, Inc. December 31, 2020 Assets Cash P 8,005 Marketable securities Accounts receivable Inventories Total current assets Gross fixed assets Less: Accumulated depreciation Net fixed assets P50,000 Total assets Liabilities and Stockholders' Equity Accounts payable Notes payable P28,800 Accruals P18,800 Total current liabilities Long-term debts Total liabilities Stockholders' equity Preferred stock 2,451 30,000 6,400 90,800 Common stock at par Paid-in capital in excess of par Retained earnings Total stockholders' equity Total liabilities and stockholders' equit

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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