Assets Cash. Accounts receivable Inventories Other current assets Total current assets Net sales Cost of sales Happy Valley Restaurant Ltd Balance Sheet extract As at 31 March 2023 17,000 36,049 37,491 12,000 102,540 657,888 427,627 Liabilities and Equity Accounts payable Short Term Loans Total current liabilities 74,982 37,000 111,982 Happy Valley Restaurant Ltd., reported its financial information for the last financial year:

Assets Cash. Accounts receivable Inventories Other current assets Total current assets Net sales Cost of sales Happy Valley Restaurant Ltd Balance Sheet extract As at 31 March 2023 17,000 36,049 37,491 12,000 102,540 657,888 427,627 Liabilities and Equity Accounts payable Short Term Loans Total current liabilities 74,982 37,000 111,982 Happy Valley Restaurant Ltd., reported its financial information for the last financial year:

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 13GI

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