Star Videos, Incorporated, produces short musical videos for sale to retail outlets. The companys balance sheet accounts as of January are given below.
Star Videos, Incorporated
Balance Sheet
January
Assets
Cash $
Accounts receivable
Inventories:
Raw materials film costumes $
Videos in process
Finished videos awaiting sale
Prepaid insurance
Studio and equipment net
Total assets $
Liabilities and Stockholders Equity
Accounts payable $
Retained earnings
Total liabilities and stockholders equity $
