On its latest balance sheet, a firm had $2,993,000,000 in net property, plant and equipment, $626,000,000 in other long-term assets, $1,158,000,000 in total current liabilities, $1,019,000,000 in total long-term liabilities and $4,387,000,000 in total owners’ equity. What were total current assets equal to?

Balance sheet is financial statement which shows the Assets and liabilities of an enterprise or…

Answered: On its latest balance sheet, a firm had…

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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On its latest balance sheet, a firm had $2,993,000,000 in net property, plant and equipment, $626,000,000 in other long-term assets, $1,158,000,000 in total current liabilities, $1,019,000,000 in total long-term liabilities and $4,387,000,000 in total owners’ equity. What were total current assets equal to?

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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