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    eballest's Avatar
    eballest Posts: 1, Reputation: 1
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    #1

    Dec 13, 2007, 05:10 PM
    Owner's equity
    The Apricot Company in 2001 had notes payable of $1,200, accounts payable of $2,400, and long-term debt of $3,000. The corresponding entries for 2002 are $1,600, $2,000, and $2,800. For assets, Apricot had in 2001 $800 in cash, $400 in marketable securities, and $1,800 of inventory. The corresponding entries for 2002 are $500, $300, and $2,000. Accounts receivable at the end of 2001 were $900 and $800 at the end of 2002. Apricot's net plant and equipment was $6,000 in 2001 and $8,000 in 2002. Construct Apricot Company's balance sheet for 2001 and 2002. What is total owners' equity for 2002?
    manik chand dey's Avatar
    manik chand dey Posts: 63, Reputation: 2
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    #2

    Dec 18, 2007, 02:47 AM
    Balance Sheet of The Apricot Company
    As on 2001 As on 2002
    Liabilities

    Notes payable 1200 1600
    Accounts payable 2400 2000
    Long term debt 3000 2800
    Owners' equity 3300 5200

    Assets

    Cash 800 500
    Marketable securities 400 300
    Inventory 1800 2000
    A/R 900 800
    Plant and machinery 6000 8000

    TOTAL 9900 11600

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