The bookkeeper for Andy's Country Music Bar went insane and left this incomplete balance sheet. Andy's working capital is $95,000 and its debt to assets ratio is 40 percent.
|
Assets
|
|
|
Current assets
|
|
|
Cash
|
$ 21,000
|
|
Accounts receivable
|
42,000
|
|
Inventory
|
(A)
|
|
Prepaid items
|
9,000
|
|
|
|
Total current assets
|
(B)
|
|
Long-term assets
|
|
|
Building
|
(C)
|
|
Less: Accumulated depreciation
|
(39,000)
|
|
|
|
Total long-term assets
|
210,000
|
|
|
|
Total assets
|
$ (D)
|
|
|
|
Liabilities and Stockholders' Equity
|
|
|
Liabilities
|
|
|
Current liabilities
|
|
|
Accounts payable
|
$ (E)
|
|
Notes payable
|
12,000
|
|
Income tax payable
|
10,500
|
|
|
|
Total current liabilities
|
37,500
|
|
Long-term liabilities
|
|
|
Mortgage payable
|
(F)
|
|
Total liabilities
|
(G)
|
|
Stockholders' equity
|
|
|
Common stock
|
105,000
|
|
Retained earnings
|
(H)
|
|
Total stockholders' equity Total liabilities and stockholders' equity
|
(I) $ (J)
|
Required
Complete the balance sheet by supplying the missing amounts.