1.Unclassified Balance Sheets December 31, 2018 and 2019 2018 2019 Cash 10,000 8,000 Accounts Receivable 26,500 22,500 Inventory 14,500 18,500 Prepaid Expenses 4,100 10,800 Equipment 255,000 310,000 Accumulated Depreciation 105,000 120,000 Total Assets 205,100 249,800 Current Liabilities: Accounts Payable 18,000 10,000 Accrued Expenses 2,100 2,000 Dividends Payable 5,000 7,300 Mortgage Payable(current) 5,000 20,000 Mortgage Payable(long-term) 75,000 80,000 Common Stock 50,000 70,000 Treasury Stock (20,000) (30,000) Retained Earnings 70,000 90,500 Total Liabilities and Owner’s Equity 205,100 249,800 1.Determine the net working capital on December 31, 2018. 2.Determine the net working capital on December 31, 2019. 3.Determine the euro and percentage change in net working capital from December 31, 2018 to December 31, 2019.
1.Unclassified Balance Sheets
December 31, 2018 and 2019
|
|
2018 |
2019 |
|
Cash |
10,000 |
8,000 |
|
Accounts Receivable |
26,500 |
22,500 |
|
Inventory |
14,500 |
18,500 |
|
Prepaid Expenses |
4,100 |
10,800 |
|
Equipment |
255,000 |
310,000 |
|
|
105,000 |
120,000 |
|
Total Assets |
205,100 |
249,800 |
|
|
|
|
|
Current Liabilities: |
|
|
|
Accounts Payable |
18,000 |
10,000 |
|
Accrued Expenses |
2,100 |
2,000 |
|
Dividends Payable |
5,000 |
7,300 |
|
Mortgage Payable(current) |
5,000 |
20,000 |
|
Mortgage Payable(long-term) |
75,000 |
80,000 |
|
Common Stock |
50,000 |
70,000 |
|
|
(20,000) |
(30,000) |
|
Retained Earnings |
70,000 |
90,500 |
|
Total Liabilities and Owner’s Equity |
205,100 |
249,800 |
1.Determine the net
2.Determine the net working capital on December 31, 2019.
3.Determine the euro and percentage change in net working capital from December 31, 2018 to December 31, 2019.
4.How much does the Molehill owe its stockholders at the end of 2019?7
5.What amount of existing debt must be paid during 2020?
Step by step
Solved in 4 steps
