Question

Fill in the missing pieces to the balance sheet below for Capital One Financial. Make sure...

Fill in the missing pieces to the balance sheet below for Capital One Financial. Make sure to show your work in the available space.

Assets Liabilities & Owners’ Equity

Cash $500,000 Accounts Payable_____

Accounts Receivable______ Notes Payable $600,000

Inventory $750,000 Accruals $400,000

Total Current Assets $1,800,000 Total Current Liabilities______

Net Plant & Equip______ Long-Term Debt $4,000,000

Total Debt $5,000,000

Retained Earnings $1,500,000

Stockholders’ Equity_____

Total Equity_____

Total Assets_____ Total Liabilities & Owners’ Equity $8,000,000

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Homework Answers

Answer #1

1: Accounts receivable =Total current assets – Cash – Inventory

= 1800000-500000-750000

=550000

2: Total current liabilities = Total debt – Long term debt

= 5000000-4000000

=1000000

3: Accounts payable = Total current liabilities- Notes payable- Accruals

= 1000000 – 600000-400000 = 0

4: Total assets = Total Liabilities & Owners’ Equity =$8,000,000

5: Total Equity = Total Liabilities & Owners’ Equity- Total debt

=8,000,000 – 5000000

=3000000

6: Shareholders Equity = Total equity – Retained earnings

= 3000000-1500000

=1500000

7:Net Plant and equipment = Total assets – Current assets

= 8000000- 1800000

=$6200,000

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