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Given the following financial information, for the past year. Accounts payable Accrued interest Cash Cash investment in growing crops Crop revenue Current portion of noncurrent debt Deferred portion of noncurrent debt Farm real estate Grain inventory Interest expense Machinery and equipment Net farm income from operations Notes payable Owner equity Prepaid expenses Supplies Total current assets Total current liabilities Total operating expenses Calculate the missing values. Create the Balance sheet and Income statement. 1,900 $ 11,000 600 95,000 1,430 152,000 10,900 76,000 27,100 9600 145,000 290 480 17,400 14,000

Given the following financial information, for the past year. Accounts payable Accrued interest Cash Cash investment in growing crops Crop revenue Current portion of noncurrent debt Deferred portion of noncurrent debt Farm real estate Grain inventory Interest expense Machinery and equipment Net farm income from operations Notes payable Owner equity Prepaid expenses Supplies Total current assets Total current liabilities Total operating expenses Calculate the missing values. Create the Balance sheet and Income statement. 1,900 $ 11,000 600 95,000 1,430 152,000 10,900 76,000 27,100 9600 145,000 290 480 17,400 14,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Given the following financial information, for the past year. Accounts payable Accrued interest Cash Cash investment in growing crops Crop revenue Current portion of noncurrent debt Deferred portion of noncurrent debt Farm real estate Grain inventory Interest expense Machinery and equipment Net farm income from operations Notes payable Owner equity Prepaid expenses Supplies Total current assets Total current liabilities Total operating expenses Calculate the missing values. Create the Balance sheet and Income statement. Team 1,900 $ 11,000 600 95,000 1,430 152,000 10,900 76,000 27,100 9600 145,000 290 480 17,400 14,000
Transcribed Image Text:Given the following financial information, for the past year. Accounts payable Accrued interest Cash Cash investment in growing crops Crop revenue Current portion of noncurrent debt Deferred portion of noncurrent debt Farm real estate Grain inventory Interest expense Machinery and equipment Net farm income from operations Notes payable Owner equity Prepaid expenses Supplies Total current assets Total current liabilities Total operating expenses Calculate the missing values. Create the Balance sheet and Income statement. Team 1,900 $ 11,000 600 95,000 1,430 152,000 10,900 76,000 27,100 9600 145,000 290 480 17,400 14,000
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