Question

Given the following information for Smashville, Inc., construct a balance sheet:

Current liabilities:	$	35,000
Cash:	$	21,000
Long-term debt:	$	99,000
Other assets:	$	36,000
Fixed assets:	$	163,000
Other liabilities:	$	18,000
Investments:	$	40,000
Operating assets:	$	35,000

Answer 1

The balance sheet is presented as shown below:

Liabilities and Shareholder's Equity	Amount ($)	Assets	Amount ($)
Current liabilities	35,000	Cash	21,000
Long term debt	99,000	Other Assets	36,000
Other liabilities	18,000	Investments	40,000
Shareholders Equity*	143,000	Operating Assets	35,000
		Fixed Assets	163,000
Total	295,000	Total	295,000

* shareholders equity is computed as follows:

= Total Assets - Current liabilities - Long term debt - Other liabilities

= $ 295,000 - $ 35,000 - $ 99,000 - $ 18,000

= $ 143,000

Feel free to ask in case of any query relating to this question