Solved

Fill in the Missing Items in the Balance Sheet

Question 114

Essay

Fill in the missing items in the balance sheet.
PURRFECT PETS, INC.
BALANCE SHEET
SEPTEMBER 30,2007

 Assets  Cash $743,800 Accounts Receivable ? Inventories 54,900 Property, Plant, and Equipment 119,300 Other Assets 71,400 Total Assets $? Liabilities  Accounts Payable $342,500 Notes Payable ? Total Liabilitics 607,600 Shareholders’ Equity  Contributed Capital 662,100 Retained Earnings ? Total Equity 789,400 Total Liabilities and Shareholders’ $? Equity \begin{array}{lr}\text { Assets } & \\\text { Cash } & \$ 743,800 \\\text { Accounts Receivable } & \quad? \\\text { Inventories } & 54,900 \\\text { Property, Plant, and Equipment } & 119,300 \\\text { Other Assets } & 71,400 \\\text { Total Assets } &\mathbf{\$ \quad?} \\\\\text { Liabilities } & \\\text { Accounts Payable } & \$ 342,500 \\\text { Notes Payable } & \mathbf{\quad?} \\\text { Total Liabilitics } & \mathbf{6 0 7 , 6 0 0} \\\\\text { Shareholders' Equity }\\\text { Contributed Capital } & 662,100 \\\text { Retained Earnings } &\quad? \\ \text { Total Equity } & 789,400\\\\\text { Total Liabilities and Shareholders' }&\$\quad?\\\text { Equity }\end{array}

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents