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21. National Shops, Inc. reported the following am...

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21. National Shops, Inc. reported the following amounts on its balance sheet as of December 31, 2010: Inventory $325,000 Notes payable 100,000 Cash 150,000 Contributed capital 250,000 Equipment 700,000 Accumulated depreciation 600,000 Accounts receivable 30,000 Accounts payable 45,000 Retained earnings 210,000 Requirements: 5 points each, 15 points total 1. What is the amount of National's total assets? _______________ 2. What is the amount of National?s total liabilities? _______________ 3. What is the amount of National?s stockholders? equity _______________

 

Paper#6542 | Written in 18-Jul-2015

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