TIm Dye the CFO of Blackwell Aoutomotive, is putting together this year\'s fiana
ID: 2384058 • Letter: T
Question
TIm Dye the CFO of Blackwell Aoutomotive, is putting together this year's fianancial statements. He has gathered the following Balance Sheet information: The firm had a cash balance sheet of $23,015, accounts payable of $163,257, common stock of $313,299, retained earnings of $512,159, inventory of $212,444, gooddwill and other assets equal to $78,656, net plant and equipment of $711,256, and short term notes payable $21,115. It also had accounts receivable of $141,258 and other current assets of $11,223. HOW MUCH LONG TERM DEBT DOES BLACKWELL AUTOMOTIVE HAVE?
Explanation / Answer
Long Term Debt = Total Assets - (Current Liabilities + Shareholders Equity)
= $1177852 - $1009830
= $ 168022
Liabilties Amount($) Assets Amount($) Current Liabilities Current Assets accounts payable 163257 Cash 23015 Notes payable 21115 other current assets 11223 Shareholder's Equity Inventory 212444 Retained Earnings 512159 Non Current Assets Common Stocks 313299 accounts receivable 141258 Total 1009830 other assets 78656 Long Term Debt 168022 net plant and equipment 711256 Total 1177852 Total 1177852
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