Using the table below create SinCo's Balance Sheet for the Prior Year and Current Year, and then answer the questions that are below. (Do not round Intermediate calculations. Round your answer to 2 decimal places.) Prior Year Inventory 300 Common Stock and Paid-in Capital 2,200 Accounts Payable 300 5,000 Accounts Receivable 400 Net Fixed Assets Retained Earnings (Balance Sheet) Long-Term Debt 1,000 2,000 1,000 800 Notes Payable Cash Current Year 356 2,200 316 448 5,434 1,886.36 2,452 1,012 Balance Sheet Questions: What is the current year's Total Liabilities and Shareholders Equity What is SinCo's current year's Total Assets What is SinCo's current year's Total Current Liabilities What is SinCo's current year's Cash Balance What is SinCo's current year's Total Current Assets

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter24: Analysis Of Financial Statements
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Create a Balance Sheet
Using the table below create SinCo's Balance Sheet for the Prior Year and Current Year, and then answer the questions that are
below. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Inventory
300
Common Stock and
Paid-in Capital
2,200
Accounts Payable 300
Accounts Receivable 400
5,000
1,000
2,000
1,000
800
Net Fixed Assets
Retained Earnings
(Balance Sheet)
Long-Term Debt
Prior Year
Notes Payable
Cash
Current Year
356
2,200
316
448
5,434
1,886.36
2,452
1,012
Balance Sheet Questions:
What is the current year's Total Liabilities and
Shareholders Equity
What is SinCo's current year's Total Assets
What is SinCo's current year's Total Current Liabilities
What is SinCo's current year's Cash Balance
What is SinCo's current year's Total Current Assets
Transcribed Image Text:Create a Balance Sheet Using the table below create SinCo's Balance Sheet for the Prior Year and Current Year, and then answer the questions that are below. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Inventory 300 Common Stock and Paid-in Capital 2,200 Accounts Payable 300 Accounts Receivable 400 5,000 1,000 2,000 1,000 800 Net Fixed Assets Retained Earnings (Balance Sheet) Long-Term Debt Prior Year Notes Payable Cash Current Year 356 2,200 316 448 5,434 1,886.36 2,452 1,012 Balance Sheet Questions: What is the current year's Total Liabilities and Shareholders Equity What is SinCo's current year's Total Assets What is SinCo's current year's Total Current Liabilities What is SinCo's current year's Cash Balance What is SinCo's current year's Total Current Assets
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