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COMPANY NAME BALANCE SHEET as at __________ (Date) ASSETS $ LIABILITIES $ Current Assets: Current Liabilities: Cash in Bank $18,500.00 Accounts...
COMPANY NAME BALANCE SHEET as at __________ (Date) ASSETS $ LIABILITIES $ Current Assets: Current Liabilities: Cash in Bank $18,500.00 Accounts Payable $4,800.00 Petty Cash $500.00 Wages Payable $14,300.00 Net Cash $19,000.00 Office Rent — Inventory $25,400.00 Utilities $430.00 Accounts Receivable $5,300.00 Federal Income Tax Payable $2,600.00 Prepaid Insurance $5,500.00 Overdrafts — Total Current Assets $55,200.00 Customer Deposits $900.00 Pension Payable $720.00 Fixed Assets: Union Dues Payable — Land $150,000.00 Medical Payable $1,200.00 Buildings $330,000.00 Sales Tax Payable Less Depreciation $50,000.00 Total Current Liabilities $24,950.00 Net Land & Buildings $430,000.00 Long-Term Liabilities: Equipment $68,000.00 Long-Term Loans $40,000.00 Less Depreciation $35,000.00 Mortgage $155,000.00 Net Equipment $33,000.00 Total Long-Term Liabilities $195,000.00 TOTAL LIABILITIES $219,950.00 Owners' Equity: Common Stock $120,000.00 Owner - Draws $50,000.00 Retained Earnings $128,250.00 Total Owners' Equity: $298,250.00 TOTAL ASSETS $518,200.00 LIABILITIES AND EQUITY $518,200.00
Based on the Balance Sheet above determine the following:
1. TOTAL ASSETS 2. TOTAL LIABILITIES 3. TOTAL EQUITY 4. Current Assets 5. Current Liabilities 6. Current Ratio 7. Quick Ratio 8. Return On Equity (ROE) 9. Debt Ratio
