Account Balances

Practice Questions

Based on the information in the above, provide the answers to the following questions.

(1) What is the amount of total inventory?

(2) What is the amount of total current assets?

(3) What is the amount of net property, plant and equipment after subtracting accumulated depreciation?

(4) What is the amount of total intangible assets?

(5) What is the amount of total non-current assets?

(6) What is the amount of total current liabilities?

(7) What is the amount of total non-current liabilities?

(8) What is the amount of total liabilities?

(9) What is the amount of paid-in capital?

(10) What is the amount of total stockholders’ equity?

(11) What is the amount of total liabilities and stockholders’ equity?

(12) Is total assets same as total liabilities and stockholders’ equity?

Solutions