I had accounts payables of 67855 notes payables of 36454


Given the following information about Elkridge Sporting Goods, Inc., construct a balance sheet for June 30, 2011. On that date the firm had cash and marketable securities of $25,135, accounts receivable of $43,758, inventory of $167,112, net fixed assets of $325,422, and other assets of $13,125. It had accounts payables of $67,855, notes payables of $36,454, long-term debt of $223,125, and common stock of $150,000. How much retained earnings did the firm have?

Solution Preview :

Prepared by a verified Expert
Cost Accounting: I had accounts payables of 67855 notes payables of 36454
Reference No:- TGS0778420

Now Priced at $20 (50% Discount)

Recommended (98%)

Rated (4.3/5)