Determine External Funds Needed (EFN) and how it may be financed.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Determine External Funds Needed (EFN) and how it may be financed.
![Cura Company
Statement of Financial Position
As of December 31, 2020
Stockholder's Equity
Liabilities and Equity
Current Liabilities
Capital Stock
100,000
Retained Earnings
161,875
Notes Payable (external
funds needed)
Total Stockholders' Equity
261,875
Trade Payables
1,090,000
Income Taxes Payable
Total Liabilities and
12,520
Stockholders' Equity
3,179,895
Current Portion of Long-
term Debt
850,000
Other Current Liabilities
65,500
Total Current
2,018,020
Liabilities
Non-current Liabilities
Long-term Debt, Net of
current portion
900,000
Total Liabilities
2,918,020
fppt.com](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7eb5cf67-925f-4e1d-bd97-262f23700b2a%2Fc50979d4-b729-4b7c-9138-76484eef65bf%2Fo51mhto_processed.png&w=3840&q=75)
Transcribed Image Text:Cura Company
Statement of Financial Position
As of December 31, 2020
Stockholder's Equity
Liabilities and Equity
Current Liabilities
Capital Stock
100,000
Retained Earnings
161,875
Notes Payable (external
funds needed)
Total Stockholders' Equity
261,875
Trade Payables
1,090,000
Income Taxes Payable
Total Liabilities and
12,520
Stockholders' Equity
3,179,895
Current Portion of Long-
term Debt
850,000
Other Current Liabilities
65,500
Total Current
2,018,020
Liabilities
Non-current Liabilities
Long-term Debt, Net of
current portion
900,000
Total Liabilities
2,918,020
fppt.com
![Cura Company
Statement of Financial Position
As of December 31, 2020
ASSETS
Current Assets
Cash
550,000
Receivables
120,500
Inventories
83,725
Other Current Assets
750,000
Total Current Assets
1,504,225
Non-current Assets
Property, Plant, and Equipment,
net
1,040,000
Other Non-current Assets
635,670
Total Non-current Assets
1,675,670
Total Assets
3,179,895
fppt.com](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7eb5cf67-925f-4e1d-bd97-262f23700b2a%2Fc50979d4-b729-4b7c-9138-76484eef65bf%2F2a78fy_processed.png&w=3840&q=75)
Transcribed Image Text:Cura Company
Statement of Financial Position
As of December 31, 2020
ASSETS
Current Assets
Cash
550,000
Receivables
120,500
Inventories
83,725
Other Current Assets
750,000
Total Current Assets
1,504,225
Non-current Assets
Property, Plant, and Equipment,
net
1,040,000
Other Non-current Assets
635,670
Total Non-current Assets
1,675,670
Total Assets
3,179,895
fppt.com
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