Homework Answers
Answer
| $ millions | Current Assets | Long Term Assets | Total Assets | Current Liabilities | Long term Liabilities | Total Liabilities | Stockholder's equity |
| 2003 | $7,720 | $9,880 | $17,600 | $5,082 | $4,633 | $9,715 | $7,885 |
| 2004 | $8,720 | $11,988 | $20,708 | $6,071 | $4,259 | $10,330 | $10,378 |
| 2005 | $7,115 | $13,398 | $20,513 | $5,238 | $5,175 | $10,413 | $10,100 |
--Working
| $ millions | Current Assets | Long Term Assets | Total Assets | Current Liabilities | Long term Liabilities | Total Liabilities | Stockholder's equity |
| 2003 | 7720 | =17600-7720 | 17600 | =9715-4633 | 4633 | 9715 | 7885 |
| 2004 | 8720 | 11988 | =8720+11988 | 6071 | 4259 | =6071+4259 | 10378 |
| 2005 | =20513-13398 | 13398 | 20513 | 5238 | 5175 | 10413 | =20513-10413 |
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Constructing and Analyzing Balance Sheet Amounts from Incomplete Data Selected balance sheet amounts for 3M Company,...
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The bookkeeper for Rooney's Country Music Bar left this incomplete balance sheet. Rooney's working capital is $103,000 and its debt to assets ratio is 30 percent. Required Complete the balance sheet by supplying the missing amounts. $ 24,000 42,000 12,000 (43,000) 221,000 Assets Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Long-term assets Building Less: Accumulated depreciation Total long-term assets Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Accounts payable Notes payable Income tax payable Total...
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