ASSETS LIABILITIES CURRENT ASSETS Cash in bank Accounts recelvable CURRENT LIABI
ID: 2816336 • Letter: A
Question
ASSETS LIABILITIES CURRENT ASSETS Cash in bank Accounts recelvable CURRENT LIABILITIES Accounts payable Interest pryable Taxes payable Notes, short -term (due within 12 months) Current part, long tenm debt Other current labilities TOTAL CURRENT LIABILITIES $125.000.00 $150,000.00 $67.300.00 $60.989.00 $57,713.00 57,87700 $13,509.00 $83.988.00 335,34500 Prepaid experses $61 200.00 $15,000.00 $470,000.00 $25,000.00 $535,000.00 TOTAL CURRENT ASSETS FIXED ASSETS Machinery and equipment Fumture and fitures $29,000.00 $33,729.00 24,627.00 LONG-TERM DEBT Bank loans payable $36489.00 $63899.00 $34,576.00 $92 22800 Land and buldings Other fxed assets LESS accumulated depreciation on all fxed TOTAL FIXED ASSETS (NET OF DEPRECIATION $70,611.00 $31,517.00 83,942.00 104382.00 LESS: Short-term portion ther long term debt TOTAL LONG-TERM DEBT $29300.00 91300.00 $163,000.00 TOTAL LIABILITIES OTHER ASSETS STOCKHOLDER'S EQUITY $101.997.00 OWNERS' EQUITY Invested capital Retained eamings bepnning Retained eamings current TOTAL OWNERS' EQUITY $59,666.00 $35,96300 331,661.00 TOTAL OTHER ASSETS TOTAL ASSETS 819,800.00 TOTAL LIABILITIES ANDE $920,675.00Explanation / Answer
Prepaid expenses 2014 : $ 75,000.
Leasehold improvements 2015 : $ 27,840.
Total fixed assets ( net of depreciation ) 2014 : $ 72,700.
Intangibles 2014 : $ 95,700.
Total other assets 2014 : $ 277,100.
Deposits 2015: $ 35,652.
Total other assets 2015 : $ 281,293.
Total assets 2015 : $ 920,675.
Current part, long-term debt 2014 : $ 10,600.
Notes payable to stockholders 2014 : $ 71,900.
Accounts payable 2015 : $ 61,269.
Total liabilities 2014 : $ 498,300.
Total Liabilities 2015 : $ 493,385.
Retained earnings 2014 : $ 232,000.
Total liabilities and equity 2014 : $ 819,800.
Total owners' equity 2015 : $ 427,290.
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