Below is the balance sheet for Triple H Company: Triple H Company
Balance Sheet December 31,
\(\begin{array}{lll}&20X6&20X5\
\text { Current as sets: }\
\text { Cash } & \$ 380 & \$ 242 \
\text { Accounts receivable } & 430 & 194 \
\text { Inventory } & 238 & 388 \
\text { Prep aid insurance } & \underline{32} & \underline{76} \
\text { Total current assets } & \$ 1,080 & \$ 900\\text { Long-term assets: } & & \
\text { Fixed as sets } & \$ 406 & \$ 452 \
\text { Less: Accumul ated depreciation } & \underline{(272)} & \underline{(228)} \
\text { Total long-term ass ets } & \$ 134 & \$ 224 \
\text { Total assets } & \$ 1,214 & \$ 1,124\\text { Current liabilities: Accounts }\
\text { payable } & \$ 176 & \$ 152 \
\text { W ages payable } & {38}&{32} \
\text { Total current liabilities } & \$ 214 & \$ 184\\text { Long-term liabilities: }\
\text { Notes payable } & 420 & 420 \
\text { Total liabilities } & \$ 634 & \$ 604\\text { Owners' equity: } & & \
\text { Common stock } & \$ 190 & \$ 160 \
\text { Retained inc ome } & \underline{390} & \underline{360} \
\text { Total owners' equity } & \$ 580 & \$ 520 \
\text { Total liabilities and owners' } & \$ 1,214 & \$ 1,124\equity
\end{array}\) If a common- size balance sheet were prepared, would be attributable to the 20X6 cash of Triple H Company.

Question

Below is the balance sheet for Triple H Company: Triple H Company 
Balance Sheet December 31,
\(\begin{array}{lll}&20X6&20X5\
\text { Current as sets: }\
\text { Cash } & \$ 380 & \$ 242 \
\text { Accounts receivable } & 430 & 194 \
\text { Inventory } & 238 & 388 \
\text { Prep aid insurance } & \underline{32} & \underline{76} \
\text { Total current assets } & \$ 1,080 & \$ 900\\text { Long-term assets: } & & \
\text { Fixed as sets } & \$ 406 & \$ 452 \
\text { Less: Accumul ated depreciation } & \underline{(272)} & \underline{(228)} \
\text { Total long-term ass ets } & \$ 134 & \$ 224 \
\text { Total assets } & \$ 1,214 & \$ 1,124\\text { Current liabilities: Accounts }\
\text { payable } & \$ 176 & \$ 152 \
\text { W ages payable } & {38}&{32} \
\text { Total current liabilities } & \$ 214 & \$ 184\\text { Long-term liabilities: }\
\text { Notes payable } & 420 & 420 \
\text { Total liabilities } & \$ 634 & \$ 604\\text { Owners' equity: } & & \
\text { Common stock } & \$ 190 & \$ 160 \
\text { Retained inc ome } & \underline{390} & \underline{360} \
\text { Total owners' equity } & \$ 580 & \$ 520 \
\text { Total liabilities and owners' } & \$ 1,214 & \$ 1,124\equity
\end{array}\) If a common- size balance sheet were prepared, would be attributable to the 20X6 cash of Triple H Company.

Quizplus · Accepted Answer

The Answer of Below is the balance sheet for Triple H Company: Triple H Company 
Balance Sheet December 31,
\(\begin{array}{lll}&20X6&20X5\
\text { Current as sets: }\
\text { Cash } & \$ 380 & \$ 242 \
\text { Accounts receivable } & 430 & 194 \
\text { Inventory } & 238 & 388 \
\text { Prep aid insurance } & \underline{32} & \underline{76} \
\text { Total current assets } & \$ 1,080 & \$ 900\\text { Long-term assets: } & & \
\text { Fixed as sets } & \$ 406 & \$ 452 \
\text { Less: Accumul ated depreciation } & \underline{(272)} & \underline{(228)} \
\text { Total long-term ass ets } & \$ 134 & \$ 224 \
\text { Total assets } & \$ 1,214 & \$ 1,124\\text { Current liabilities: Accounts }\
\text { payable } & \$ 176 & \$ 152 \
\text { W ages payable } & {38}&{32} \
\text { Total current liabilities } & \$ 214 & \$ 184\\text { Long-term liabilities: }\
\text { Notes payable } & 420 & 420 \
\text { Total liabilities } & \$ 634 & \$ 604\\text { Owners' equity: } & & \
\text { Common stock } & \$ 190 & \$ 160 \
\text { Retained inc ome } & \underline{390} & \underline{360} \
\text { Total owners' equity } & \$ 580 & \$ 520 \
\text { Total liabilities and owners' } & \$ 1,214 & \$ 1,124\equity
\end{array}\) If a common- size balance sheet were prepared, would be attributable to the 20X6 cash of Triple H Company.

Below Is the Balance Sheet for Triple H Company: Triple