Question

Fill in the missing numbers on the balance sheet. (2 points each) Balance Sheet At December 31, 2018, a companys records show the following information in the Balance Sheet. Cash Accounts Receivable Inventory Accounts Payable Wages Payable Short-term Notes Payable $325,000 150,000 40,000 520,000 650,000 Total Current Assets 1,305,000 Total Current Liabilities Other long-term Assets $ Long-term debt $445,000 Total Assets $ 1,543,000 Total Liabilities Total Stockholders Equity (Owners Equity)

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Answer #1

Using simple mathematics and taking into account the short term and long term assets the missing values can be calculated as show in the below image.

Casht Accouny: Reuivele I, 305000 = Cas Cash 548 00 o = 1.305000 to 53000-130 S ooo 960,0 0O ex 960 o b o - 3,583,000

Hope this helps.

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