Question 1 (2.5 points) The Following financial information will help you to create a Statement...
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Question 1 (2.5 points) The Following financial information will help you to create a Statement of Financial Position or, a Balance Sheet Statement. Trades payable - $4,000, Short term Other Assets = $10,000, Equipment = $45,000, Accounts Receivable - $5,000, Inventory - $2,000, Supplies - $4.000, Cash = $7,000, Notes payable - $12.000, Income tax payable - $8,000, Long term debt - $20,000. Short term debt - $6,000, LTD/Bonds maturing in 5 years = 30,000, Building = $200,000, Common Stock - ?. Preferred Stock - $10,000 and RE - $20,000. Find the Total Short-Term Debt and Long Term Debt for this Financial Statement? Short Term Debt - $30,000 + Long Term Debt - $50,000 Long Term Debt = $20,000 + Short Term Debt - $30,000 Short Term Debt = $50,000+ Long Term Debt = $30,000 Short Term Debt-$30,000 +Long Term Debt - $30,000 Question 2 (3 points)
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