Josey Doakes was reading the balance sheet of Gogoldze Inc. when she spilled grape juice on it. After the juice spill, the balance sheet looked like this:
What was Gogoldze Inc.\'s Other Current Assets at 12/31/2015?
Solution
Total Assets as per balance sheet                1,870.00 Less Net Property, Plant & Equipment                1,080.00 Total Current Assets                   790.00 Less: Cash                 90.00 Accounts Receivable               210.00 Inventory               410.00                   710.00 Other Current Assets                      80.00
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Josey Doakes was reading the balance sheet of Gogoldze Inc- when she s (1).docx
1. Josey Doakes was reading the balance sheet of Gogoldze Inc. when she spilled grape juice on it.
After the juice spill, the balance sheet looked like this:
What was Gogoldze Inc.'s Other Current Assets at 12/31/2015?
($ millions) 12/31/2015
Cash 90
Accounts Receivable 210
Inventory 410
Other Current Assets grape
Current Assets juice
Net Property, Plant, & Equipment 1,080
Total Assets grape
juice
Accounts Payable 115
Other Current Liabilities 260
Current Liabilities 375
Long-term Liabilities 860
Common Stock 50
Additional Paid-in-Capital 300
Retained Earnings 285
Total Liabilities and SE 1,870
Solution
Total Assets as per balance sheet                1,870.00 Less Net
Property, Plant & Equipment                1,080.00 Total Current Assets
                  790.00 Less: Cash
                90.00 Accounts Receivable
              210.00 Inventory               410.00
                  710.00 Other Current Assets
                     80.00
