FIN 534 Homework Chapter 2
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FIN 534Homework Chapter 2
Directions: Answer the following five questions on a separate document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in the course shell. Each question is worth five points apiece for a total of 25 points for this homework assignment.
are the year end balance sheets for Wolken Enterprises:
Assets:20132012
Cash 200,000 170,000
Accounts receivable864,000700,000
Inventories2,000,0001,400,000
Total current assets3,064,0002,270,000
Net fixed assets6,000,0005,600,000
Total assets9,064,0007,870,000
Liabilities and equity:
Accounts payable1,400,0001,090,000
Notes payable1,600,0001,800,000
Total current liabilities...
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