A retail toy store has $11,000 in cash and inventory worth $28,250. The store has a six-year bank loan of $20,000 and
current liabilities of $450. The office equipment for the store is worth $10,000, less $1,000 in depreciation; store fixtures
are worth $7,500, less $500 in depreciation, and a company vehicle is worth $10,000, less $1,400 in depreciation.
Accounts receivable are $1,250 and accounts payable are $9.000.
What are the total assets?
What are the total liabilities?
What is the owner's equity?
Answers: 1
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A retail toy store has $11,000 in cash and inventory worth $28,250. The store has a six-year bank lo...
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