Sales are expected to grow by 10% 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.
Sales are expected to grow by 10% 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.
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
This year | ||||
Sales | $ | 10,000 | ||
Balance Sheet: Liabilities | ||||
Accounts payable | $ | 1,000 | ||
Notes payable | $ | 3,000 | ||
Accruals | $ | 1,800 | ||
Total current liabilities | $ | 5,800 | ||
Long-term bonds | $ | 2,000 | ||
Total liabilities | $ | 7,800 | ||
Common stock | $ | 2,000 | ||
Retained earnings | $ | 2,500 | ||
Total common equity | $ | 4,500 | ||
Total liabilities & equity | $ | 12,300 |
Sales are expected to grow by 10% 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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