Using these data write everglow bakeries accounting equation of this accounting question Everglow Bakeries has current assets of $160 million,property, plant, and equipment of $215 million, and otherassets totalling $65 million. Current liabilities are $162million, and long-term liabilities total $155 million.Using these data, write Everglow Bakeries' accountingequation.

Step 1: Definition of Accounting EquationThe Accounting Equation is the fundamental principle of…

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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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On its latest balance sheet, a firm had $2,993,000,000 in net property, plant and equipment, $626,000,000 in other long-term assets, $1,158,000,000 in total current liabilities, $1,019,000,000 in total long-term liabilities and $4,387,000,000 in total owners’ equity. What were total current assets equal to?
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Everglow Bakeries has current assets of $160 million, property, plant, and equipment of $215 million, and other assets totalling $65 million. Current liabilities are $162 million, and long-term liabilities total $155 million. Using these data, write Everglow Bakeries' accounting equation.