Chapter 21, Problem 1PT

To determine

To calculate: The missing information in the comparative balance sheet,

Balance Sheet of O'Toole's Hardware
			Increase/Decrease
	2017($)	2016($)	Amount	Percent
Assets
Current assets
Cash	7,318	5,283
Account receivable	3,147	3,008
Merchandise Inventory	63,594	60,187
Total current assets
Plant and equipment
Building	36,561	37,531
Equipment	8,256	4,386
Total plant and equipment
Total assets
Liabilities
Current liabilities
Account payable	5,174	4,563
Wages payable	780	624
Total current liabilities
Long-term liabilities
Mortgage note payable	34,917	36,510
Total liabilities
Owner's equity
James O’Toole capital	78,005	68,698
Total liabilities and owner's equity