USE THE FOLLOWING INFORMATION TO FILL IN THE BALANCE SHEET BELOW
TO ANSWER QUESTIONS 31 through 34
Note: Of total sales, 60 percent are on credit and the remainder are cash sales. Assume a 360-day year. All data in the table above, unless otherwise stated, is for the year 2015.
Balance Sheet for the Year Ending December 31, 2015
Cash __________ Notes payable __________
Accounts receivable __________ Accounts payable __________
Inventory __________ Accruals __________
Net fixed assets __________ Long-term debt __________
Total assets __________ Common stock ($2 par value) __________
Capital surplus __________
Retained earnings __________
Total liab. & equity __________
31. Cash = ____________.
32. Long-term debt = ____________.
33. Total assets =____________.
34. Capital surplus = __________.
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