MGMT 5123 Week 1 MyFinanceLab Assignment

P3-12 (Review of Financial Statements) A scrambled list of accounts from the income statement and balance sheet of Belmond, Inc

Inventory 6,520
Common Stock 45,050
Cash 16,570
Operating Expense 1,330
Short-term notes payable 590
Interest expense 870
Depreciation expense 490
Sales 12,850
Accounts Receivable 9,610
Accounts Payable 4,800
Long-term debt 54,560
Cost of goods sold 5,750
Buildings and equipments 121,610
Accumulated depreciation 34,150
Taxes 1,480
General and Administrative expenses 850
Retained Earnings ?
  1. How much is firm’s net working capital?
  2. Complete an income statement and a balance sheet for Belmond.
  3. If you are asked to respond to parts (a) and (b) as part of a training exercise, what could you tell your boss about the company’s financial condition based on your answer?

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Course: MGMT 5123 Finance & Accounting for Non Finance Managers
School: Southern Wesleyan University

  • 17/10/2017
  • 15
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