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Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372 Exercise 30
Preparing a Classified Balance Sheet
The following accounts are taken from the financial statements of Trump Entertaiment Resorts, Inc. , at December 31, 2010, year-end. (Amounts are in thousands.)
Required:
1. Prepare a classified balance sheet at December 31, 2010.
TIP: This exercise requires you to remember material from Chapter 1. (Some of the above accounts are not reported on the balance sheet.)
2. Using the balance sheet, indicate whether the total assets of Trump Entertainment Resorts Inc., at the end of the year were financed primarily by liabilities or stockholders' equity.
3. Were the current assets sufficient to cover the current liabilities at December 31, 2010 How can you tell
The following accounts are taken from the financial statements of Trump Entertaiment Resorts, Inc. , at December 31, 2010, year-end. (Amounts are in thousands.)
Required:
1. Prepare a classified balance sheet at December 31, 2010.
TIP: This exercise requires you to remember material from Chapter 1. (Some of the above accounts are not reported on the balance sheet.)
2. Using the balance sheet, indicate whether the total assets of Trump Entertainment Resorts Inc., at the end of the year were financed primarily by liabilities or stockholders' equity.
3. Were the current assets sufficient to cover the current liabilities at December 31, 2010 How can you tell
Explanation
Verified
Verified
1.
Prepare a classified balance sheet fo...
Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
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