Balance Sheet - HD Chocolate
Directions - Using the line items given, create a Balance Sheet for HD Chocolate for December 31, 2019. Drag and drop the line items into their correct position. When you have completed the Balance Sheet, keep this window open and open the quiz on the next tab in a new window.
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HD Chocolate
Balance Sheet
12/31/2019
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ASSETS
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Cash
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3610
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Accounts receivable (less allowence of $168)
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510
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Inventory
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5202
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Prepaid Expenses
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532
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Total Current Assets
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9854
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Property, Plant, and Equipment -- Net
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7964
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Other Assets
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188
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Total Assets
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18006
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LIABILITIES and SHAREHOLDER EQUITY
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Accounts payable
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1961
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Wages Payable
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934
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Current Note Payable
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188
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Total Current Liabilities
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3083
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Long-Term Debt
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2582
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Total Liabilities
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5665
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Shareholder' Equity
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Common Stock --$ .01 par
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313
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Addtional Paid in Capital
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3683
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Retained Earnings
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8345
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Total Shareholders' Equity
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12341
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Total Liabilities and Sharholders Equity
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18006
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1) What does the current ratio reveal about a corporation and how is it used in decision making?
2) Where would you look to determine HD Chocolate's interest payment amounts?
3) What is the debt to equity ratio for HD Chocolates?
4) Where would you look to find the amount of accumulated depreciation for HD Chocolate?
5) What is the current ratio for HD Chocolate?
6) How do we determine if a liability is current?
7) What percent of the assets are financEd by debt?