Which account amount is the most important (larger) in the assets side and in the liabilities side of the balance sheet? What do you think about that? Example CompanyBalance SheetDecember 31, 2017ASSETSLIABILITIESCurrent assetsCurrent liabilitiesNotes payableAccounts payableWages payableInterest payableTaxes payableWarranty liabilityUnearned revenuesCash$2,100$5,000Petty cashTemporary investments10035,90010,0008,5002,900Accounts receivable - net40,500InventorySuppliesPrepaid insuranceTotal current assets31,0003,8006,1001,1001,5001,50089,000Total current liabilities61,000Long-term liabilitiesNotes payableBonds payableTotal long-term liabilitiesInvestments36,00020,000Property, plant & equipment400,000420,000Land5,500Land improvementsBuildingsEquipmentLess: accum depreciationProp, plant & equip - net6,500180,000201,000(56,000)337,000Total liabilities481,000Intangible assetsSTOCKHOLDERS’ EQUITY105,000200,000305,000GoodwillCommon stock110,000Retained earningsAccum other comprehensive incomeLess: Treasury stockTotal stockholders' equityTrade names220,0009,000(50,000)289,000Total intangible assetsOther assets3,000Total assets$ 770,000Total liabilities & stockholders' equity$ 770,000The notes to the sample balance sheet have been omitted.

Balance sheet is the summary of the financial position of the company on a particular date in which…

Answered: Which account amount is the most…

Which account amount is the most important (larger) in the assets side and in the liabilities side of the balance sheet? What do you think about that?

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)

10th Edition

ISBN:9781337902571

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter3: Financial Statements, Cash Flow, And Taxes

Section: Chapter Questions

Problem 19SP

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Current Attempt in Progress XYZ provided the following financial information: XYZBalance SheetAs of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402 and net sales of: $4,272,431 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g.…
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JUST DEW IT CORPORATION2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities Cash $ 10,150 $ 10,350 Accounts payable $ 74,500 $ 61,250 Accounts receivable 27,100 27,250 Notes payable 48,500 49,250 Inventory 62,900 63,500 Total $ 123,000 $ 110,500 Total $ 100,150 $ 101,100 Long-term debt $ 59,400 $ 64,900 Owners' equity Common stock and paid-in surplus $ 80,000 $ 80,000 Fixed assets Retained earnings 171,750 192,700 Net plant and equipment $ 334,000 $ 347,000 Total $ 251,750 $ 272,700 Total assets $ 434,150 $ 448,100 Total liabilities and owners' equity $ 434,150 $ 448,100 Based on the balance sheets given for Just Dew It, calculate the following…
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