Table 4.1
True Sandpaper Co.
Balance Sheets
For the Years Ended 2018 and 2019
-The largest single source of funds for the firm in 2019 is ________.(See Table 4.1)

Question

Table 4.1
True Sandpaper Co.
Balance Sheets
For the Years Ended 2018 and 2019 
-The largest single source of funds for the firm in 2019 is ________.(See Table 4.1)

Quizplus · Accepted Answer

The balance sheet shows that the total liabilities increased from $130,000 in 2018 to $200,000 in 2019, which is primarily due to an increase in long-term debt from $60,000 to $130,000. Therefore, the largest single source of funds for the firm in 2019 is an increase in long-term debt.

Table 4.1 True Sandpaper Co