National shops inc reported the following amounts on its, Ask an Expert

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National Shops, Inc. reported the following amounts on its balance sheet as of December 31, 2010: Inventory $325,000 Notes payable 100,000 Cash 150,000 Contributed capital 250,000 Equipment 700,000 Accumulated depreciation 600,000 Accounts receivable 30,000 Accounts payable 45,000 Retained earnings 210,000

1. What is the amount of National's total assets? _______________

2. What is the amount of National's total liabilities? _______________

3. What is the amount of National's stockholders' equity _______________

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91403249

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