Use your knowledge of balance sheets and common-size statements to fill in the missing dollar amounts.
Use your knowledge of balance sheets and common-size statements to fill in the missing dollar amounts.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Use your knowledge of
Assets | ||||||
Cash | $24,706 | 3.4 | % | |||
$123,349 |
|
% | ||||
Inventory | $
|
27.4 | % | |||
Total current assets | $349,949 |
|
% | |||
Gross plant and equipment | $
|
95.0 | % | |||
Less: |
$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 | % | |||
$
|
|
% | ||||
Total |
$346,056 | 47.0 | % | |||
Total liabilities and equity | $
|
100.0 | % |
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