Current assets Cash Accounts receivable Inventory Total Fixed assets Assets Net plant and equipment Total assets Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity $ $ $ $ $ $ $ $ 2020 10,200 $ 30,200 74,600 115,000 $ 285,000 $ 400,000 $ 46,000 $ 27,800 73,800 $ 40,000 $ 60,000 $ 2021 13,200 38,640 87,120 138,960 341,040 480,000 62,160 33,120 95,280 36,000 60,000 226,200 288,720 $ 286,200 $ 348,720 $ 400,000 $ 480,000

Current assets Cash Accounts receivable Inventory Total Fixed assets Assets Net plant and equipment Total assets Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity $ $ $ $ $ $ $ $ 2020 10,200 $ 30,200 74,600 115,000 $ 285,000 $ 400,000 $ 46,000 $ 27,800 73,800 $ 40,000 $ 60,000 $ 2021 13,200 38,640 87,120 138,960 341,040 480,000 62,160 33,120 95,280 36,000 60,000 226,200 288,720 $ 286,200 $ 348,720 $ 400,000 $ 480,000

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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