Question

In the Balance Sheet below determine the unknown values. Cash                                &nbsp

In the Balance Sheet below determine the unknown values.

Cash                                    $50,000                       Accounts Payable                    $125.000

Accounts receivable            100,000                       Notes Payable                           50,000

Inventory                            80,000                       Total Short Term Debt                       ?

Total Current Assets                                                         

                                                                                Mortgages                               350,000

Plant                                   500,000                       Long Term Notes                   175,000

Net Equipment                               ?                      Total Long Term Debt                        ?

                                                                                Stockholders Equity                           ?

Total Assets                                    ?                      Total Debt & Equity               775,000

In the previous question, if the Book Value of the Equipment is $65,000 what is the value of the accumulated depreciation?

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Answer #1

Total current assets=Cash+AR+Inventory

=(50,000+100,000+80,000)=$230,000

Total short term debt=AP+Notes payable

=(125000+50000)=$175,000

Total long term debt=Mortgages+Long term notes

=(350,000+175000)=$525,000

Total debt and equity=Total debt+Total equity

775000=(175000+525000)+Stockholders equity

Stockholders equity=775000-(175000+525000)=$75,000

Total assets=Total debt and equity=$775,000

Total assets=Total current assets+Total non current assets

775000=230,000+Plant+Net equipment

Net equipment=775,000-230,000-500,000=$45,000

2.

Net equipment=Book Value of the Equipment-accumulated depreciation

accumulated depreciation=(65000-45000)=$20,000

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