What are the spontaneous liabilities on this balance sheet? Cash $ 174.90 $ 201.14 Accounts receivable $ 741.80 $ 853.07 Inventory $ 1,366.40 $ 1,571.36 Other current assets $ 174.10 $ 200.22 Total current assets $ 2,457.20 $ 2,825.78 Net plant and equipment $ 1,266.40 $ 1,456.36 Other long-term assets $ 76.30 $ 87.75 Total assets $ 3,799.90 $ 4,369.89 Accounts payable $ 192.80 $ 221.72 Accrued expenses $ 348.90 $ 401.24 Short-term debt $ 3.00 $ 3.00 Total current liabilities $ 544.70 $ 625.96 Long-term debt $ 342.00 $ 342.00 Other long-term liabilities $ 209.20 $ 240.58 Total liabilities $ 1,095.90 $ 1,208.54 Common stock and paid-in surplus $ 70.10 $ 70.10 Retained earnings $ 2,633.90 $ 2,970.05 Total equity $ 2,704.00 $ 3,040.15 Total liabilities and owners' equity $ 3,799.90 $ 4,248.68

What are the spontaneous liabilities on this balance sheet? Cash $ 174.90 $ 201.14 Accounts receivable $ 741.80 $ 853.07 Inventory $ 1,366.40 $ 1,571.36 Other current assets $ 174.10 $ 200.22 Total current assets $ 2,457.20 $ 2,825.78 Net plant and equipment $ 1,266.40 $ 1,456.36 Other long-term assets $ 76.30 $ 87.75 Total assets $ 3,799.90 $ 4,369.89 Accounts payable $ 192.80 $ 221.72 Accrued expenses $ 348.90 $ 401.24 Short-term debt $ 3.00 $ 3.00 Total current liabilities $ 544.70 $ 625.96 Long-term debt $ 342.00 $ 342.00 Other long-term liabilities $ 209.20 $ 240.58 Total liabilities $ 1,095.90 $ 1,208.54 Common stock and paid-in surplus $ 70.10 $ 70.10 Retained earnings $ 2,633.90 $ 2,970.05 Total equity $ 2,704.00 $ 3,040.15 Total liabilities and owners' equity $ 3,799.90 $ 4,248.68

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

100%

What are the spontaneous liabilities on this balance sheet?

Cash	$ 174.90	$ 201.14
Accounts receivable	$ 741.80	$ 853.07
Inventory	$ 1,366.40	$ 1,571.36
Other current assets	$ 174.10	$ 200.22
Total current assets	$ 2,457.20	$ 2,825.78
Net plant and equipment	$ 1,266.40	$ 1,456.36
Other long-term assets	$ 76.30	$ 87.75
Total assets	$ 3,799.90	$ 4,369.89

Accounts payable	$ 192.80	$ 221.72
Accrued expenses	$ 348.90	$ 401.24
Short-term debt	$ 3.00	$ 3.00
Total current liabilities	$ 544.70	$ 625.96
Long-term debt	$ 342.00	$ 342.00
Other long-term liabilities	$ 209.20	$ 240.58
Total liabilities	$ 1,095.90	$ 1,208.54
Common stock and paid-in surplus	$ 70.10	$ 70.10
Retained earnings	$ 2,633.90	$ 2,970.05
Total equity	$ 2,704.00	$ 3,040.15
Total liabilities and owners' equity	$ 3,799.90	$ 4,248.68

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions