The bookkeeper for Andy’s Country Music Bar went insane and left this incomplete balance sheet. Andy’s working capital is $95,000 and its debt to assets ratio is 40 percent.
Required:
Complete the balance sheet by supplying the missing amounts. (Round your answers to the nearest whole dollar amount. Omit the "$" sign in your response.)
Assets
Current Assets
Cash $21,000
Accounts Receivable 42,000
Inventory________ $
Prepaid Expenses 9,000
Total Current Assets________ $
Long-Term Assets
Building ___________$
Less: Accumulated Depreciation (39,000)
Total Long-Term Assets 210,000
Total Assets______________ $
Liabilities and Stockholder's Equities
Liabilities
Current Liabilities
Accounts Payable_________ $
Notes Payable 12,000
Income Tax Payable 10,500
Total Current Liabilities 37,500
Long-Term Liabilities
Mortgage Payable________ $
Total Liabilities___________ $
Stockholders’ Equity
Common Stock 105,000
Retained Earnings________ $
Total Stockholders’ Equity__________ $
Total Liabilities and Stockholders’ Equity___________ $
Any help is greatly appreciated! Been working on it for hours!
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