Projected Spontaneous Liabilities Smiley Corporation's current sales and partial balance sheet are shown below. This year Sales $ 10,000 Balance Sheet: Liabilities Accounts payable
Projected Spontaneous Liabilities Smiley Corporation's current sales and partial balance sheet are shown below. This year Sales $ 10,000 Balance Sheet: Liabilities Accounts payable
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...
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Projected Spontaneous Liabilities
Smiley Corporation's current sales and partial balance sheet are shown below.
This year | ||||
Sales | $ | 10,000 | ||
Balance Sheet: Liabilities | ||||
Accounts payable | $ | 1,500 | ||
Notes payable | $ | 3,000 | ||
Accruals | $ | 1,600 | ||
Total current liabilities | $ | 6,100 | ||
Long-term bonds | $ | 2,000 | ||
Total liabilities | $ | 8,100 | ||
Common stock | $ | 2,000 | ||
$ | 3,000 | |||
Total common equity | $ | 5,000 | ||
Total liabilities & equity | $ | 13,100 |
Sales are expected to grow by 12% next year. Assuming no change in operations from this year to next year, what are the projected spontaneous liabilities? Do not round intermediate calculations. Round your answer to the nearest dollar.
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