Problem 13-20A (Algo) Supply missing balance sheet numbers LO 13-2, 13-3 The bookkeeper for Vernon's Country Music Bar left this incomplete balance sheet. Vernon's working capital is $94,000 and its debt-to-assets ratio is 40 percent. Required Complete the balance sheet by supplying the missing amounts. Vernon's Country Music Bar Balance Sheet
Problem 13-20A (Algo) Supply missing balance sheet numbers LO 13-2, 13-3 The bookkeeper for Vernon's Country Music Bar left this incomplete balance sheet. Vernon's working capital is $94,000 and its debt-to-assets ratio is 40 percent. Required Complete the balance sheet by supplying the missing amounts. Vernon's Country Music Bar Balance Sheet
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter5: Sales And Receivables
Section: Chapter Questions
Problem 68E: Bad Debt Expense: Aging Method Glencoe Supply had the following accounts receivable aging schedule...
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Transcribed Image Text:Problem 13-20A (Algo) Supply missing balance sheet numbers LO 13-2, 13-3
The bookkeeper for Vernon's Country Music Bar left this incomplete balance sheet. Vernon's working capital is $94,000
and its debt-to-assets ratio is 40 percent.
Required
Complete the balance sheet by supplying the missing amounts.
Assets
Current assets
Cash
Vernon's Country Music Bar
Balance Sheet
As of December 31
Accounts receivable
Inventory
Prepaid expenses
Total current assets
Long-term assets
Building
Less: Accumulated depreciation
Total long-term assets
Total assets
Liabilities and Stockholders' Equity
Liabilities
Current liabilities
< Prev
$ 21,000
36,000
13,000
(34,000)
226,000
3 of 4
#
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Transcribed Image Text:Required
Complete the balance sheet by supplying the missing amounts.
Assets
Vernon's Country Music Bar
Balance Sheet
As of December 31
Current assets
Cash
Accounts receivable
Inventory
Prepaid expenses
Total current assets
Long-term assets
Building
Less: Accumulated depreciation
Total long-term assets
Total assets
Liabilities and Stockholders' Equity
Liabilities
Current liabilities
Accounts payable
Notes payable
Income tax payable
Total current liabilities
Long-term liabilities
Mortgage payable
Total liabilities
Stockholders' equity
Common stock
Retained earnings
Total stockholders' equity
Total liabilities and stockholders' equity
$
21,000
36,000
13,000
(34,000)
226,000
7,000
9,500
37,000
92,000
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