Assets: Current Assets: Cash Accounts Receivable (net) Merchandise Inventory Prepaid Expenses Total Current Assets Long-Term Investments Plant Assets: Property, Plant & Equipment Accumulated Depreciation Total Plant Assets. Total Assets Thistle Inc. Comparative Balance Sheets Equities: Current Liabilities: Accounts Payable Accrued Expenses Total Current Liabilities Long-Term Notes Payable Stockholders' Equity: Common Stock Paid-in-Capital Retained Earnings Total Equities December 31, 2020 2021 $ 690,000 1,560,000 1,950,000 351,000 4,551,000 225,000 2,190,000 (450,000) 1,740,000 $ 540,000 1,080,000 1,260,000 315,000 3,195,000 50,000 1,390,000 (270,000) 1,120,000 $6.516.000 $4.365.000 3,150,000 20,000 937,000 $6,516,000 $1,275,000 $1,095,000 309,000 282,000 1,584,000 1,377,000 825,000 0 2,400,000 10,000 578,000 $4.365.000

Assets: Current Assets: Cash Accounts Receivable (net) Merchandise Inventory Prepaid Expenses Total Current Assets Long-Term Investments Plant Assets: Property, Plant & Equipment Accumulated Depreciation Total Plant Assets. Total Assets Thistle Inc. Comparative Balance Sheets Equities: Current Liabilities: Accounts Payable Accrued Expenses Total Current Liabilities Long-Term Notes Payable Stockholders' Equity: Common Stock Paid-in-Capital Retained Earnings Total Equities December 31, 2020 2021 $ 690,000 1,560,000 1,950,000 351,000 4,551,000 225,000 2,190,000 (450,000) 1,740,000 $ 540,000 1,080,000 1,260,000 315,000 3,195,000 50,000 1,390,000 (270,000) 1,120,000 $6.516.000 $4.365.000 3,150,000 20,000 937,000 $6,516,000 $1,275,000 $1,095,000 309,000 282,000 1,584,000 1,377,000 825,000 0 2,400,000 10,000 578,000 $4.365.000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 13MCQ

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