Determine the amount of national''s total liabilities

Assignment Help Financial Accounting

Reference no: EM133138

Question :

National Shops, Inc. reported the subsequent amounts on its balance sheet as of 31^st December, 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. Evaluate the amount of National's total assets? _______________

2. Determine the amount of National's total liabilities? _______________

3. Evaluate the amount of National's stockholders' equity _______________

Reference no: EM133138

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