Duckies, Etc. is a bath toy manufacturer reviewing their current Balance Sheet.1. What are the total current assets?2. What are the total long term assets?3. What are total assets? 4. What is the balance for Accounts Payable?5. What is the balance for Total Liabilities?6. What is the balance for Total Liabilities and Shareholder Equity?7. What is the balance for Capital Surplus? Liabilities & SH Equity$35Assets as of April 30, 2015 $000sCash and Cash Equiv.Accounts ReceivableInventoryother Current AssetsTotal Current Assets$000sAccounts Payable50###Short Term Debtother Current LiabilitiesTotal Current Liabilities10303050$55Long Term DebtOther Long Term LiabilitiesTotal Liabilities###15Long Term InvestmentsPlant, Property & Equip.Intangible and Other AssetsTotal Long Term Assets10$41###15Retained EarningsCapital SurplusTotal Shareholder Equity###60######Total Assets###Total Liabilities & SH Equity###

The Total currents assets are the assets which have the potential of being liquidated in the next…

Answered: Duckies, Etc. is a bath toy…

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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Duckies, Etc. is a bath toy manufacturer reviewing their current Balance Sheet.

1. What are the total current assets?

2. What are the total long term assets?

3. What are total assets?

4. What is the balance for Accounts Payable?

5. What is the balance for Total Liabilities?

6. What is the balance for Total Liabilities and Shareholder Equity?

7. What is the balance for Capital Surplus?

Liabilities & SH Equity
$35
Assets as of April 30, 2015 $000s
Cash and Cash Equiv.
Accounts Receivable
Inventory
other Current Assets
Total Current Assets
$000s
Accounts Payable
50
###
Short Term Debt
other Current Liabilities
Total Current Liabilities
10
30
30
50
$55
Long Term Debt
Other Long Term Liabilities
Total Liabilities
###
15
Long Term Investments
Plant, Property & Equip.
Intangible and Other Assets
Total Long Term Assets
10
$41
###
15
Retained Earnings
Capital Surplus
Total Shareholder Equity
###
60
###
###
Total Assets
###
Total Liabilities & SH Equity
###

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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