Use your knowledge of balance sheets and common-size statements to fill in the missing dollar amounts. (Round percentage answers to 1 decimal place, e.g. 527.5.)Assets Cash $24,706 3.4%Accounts receivable $123,349 %Inventory $ 27.4%Total current assets $349,949 %Gross plant and equipment $ 95.0%Less: accumulated depreciation $313,000 42.5%Net plant and equipment $ %Total assets $736,949 100.0%Liabilities Accounts payable $ 15.8%Notes payable $28,961 3.9%Total current liabilities $ %Long-term debt $245,383 33.3%Total liabilities $390,893 %Common stock ($0.01 par, 450,000 shares) $4,500 0.6%Paid-in capital $223,452 30.3%Retained earnings $ %Total stockholders' equity $346,056 47.0%Total liabilities and equity $ 100.0%

Balance sheet is one of the most essential financial statements prepared at the end of the…

Answered: Use your knowledge of balance sheets…

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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Question

Use your knowledge of balance sheets and common-size statements to fill in the missing dollar amounts. (Round percentage answers to 1 decimal place, e.g. 527.5.)

Assets
Cash	$24,706	3.4	%
Accounts receivable	$123,349		%
Inventory	$	27.4	%
Total current assets	$349,949		%
Gross plant and equipment	$	95.0	%
Less: accumulated depreciation	$313,000	42.5	%
Net plant and equipment	$		%
Total assets	$736,949	100.0	%
Liabilities
Accounts payable	$	15.8	%
Notes payable	$28,961	3.9	%
Total current liabilities	$		%
Long-term debt	$245,383	33.3	%
Total liabilities	$390,893		%
Common stock ($0.01 par, 450,000 shares)	$4,500	0.6	%
Paid-in capital	$223,452	30.3	%
Retained earnings	$		%
Total stockholders' equity	$346,056	47.0	%
Total liabilities and equity	$	100.0	%

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