1. Business
  2. Accounting
  3. may i get an explanation for this please i have...

Question: may i get an explanation for this please i have...

Question details

McFadden Corp. reports the following balances on their December 31. 20X2 Balance Sheet: Accounts Pavable Accounts Receivable Accumulated Depreciation Fixed Assets (Net) Inventory Long Term Debt Paid in Excess Retained Earnings Total Assets Total Liabilities 60 350 900 150 400 160 380 1.240 500 (long term debt + current liabilities) 7 correct 10points 6 correct 9 points 5 4 correct 8points 3 2 correct 7points correct 6 points 0 correct 5 points All of the remaining accounts are listed below. Calculate the balance in each. Accruals as Common Stock Fixed Assets (Gross) Total Current Assets Total Current Liabilities Total Equity

May I get an explanation for this, please? I have the answer so I understand the format, supposed to be separated by Assets/ liabilities and equity in the form of a Balance sheet. However, I'm confused as to how you find some of the required accounts with the given information.

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution