Description of this paper

Financial Accounting

Description

solution


Question

Michelle & Alexus, Inc. had the following items on their 12/31/07 balance sheet;Cash $ 32,203;Accounting payable 14,055;Deferred income taxes 9.849;Retained earnings 102,403;Accrued expenses 20.981;Prepaid expenses 3,478;Revolving line of credit, long-term 7,288;Short-term debt 12,275;Current maturities of long-term debt 3,301;Arbitration award 9.075;Long-term debt, net of current portion 49,900;Other long-term obligations 5,218;Prepare the liabilities section of Michelle & Alexus, Inc. as of 12/31/07.

 

Paper#81101 | Written in 18-Jul-2015

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