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The following information is taken from the balance sheet of Raineer P.docx
The following information is taken from the balance sheet of Raineer P.docx
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The following information is taken from the balance sheet of Raineer P.docx

  1. The following information is taken from the balance sheet of Raineer Plumbing: cash and cash equivalents, $50,000; accounts receivable, $130,000; inventories, ?; total current assets, $285,000; property, plant, and equipment (net), ?; total assets, $500,000; accounts payable, $42,000; note payable (due in two years), $60,000; common stock; $130,000; and retained earnings, ?. Calculate the following amounts Inventories Property, plant, and equipment Retained earnings The following information is taken from the balance sheet of Raineer Plumbing: cash and cash equivalents, $50,000; accounts receivable, $130,000; inventories, ?; total current assets, $285,000; property, plant, and equipment (net), ?; total assets, $500,000; accounts payable, $42,000; note payable (due in two years), $60,000; common stock; $130,000; and retained earnings, ?. Calculate the following amounts Inventories Property, plant, and equipment Retained earnings Solution answer.. Calculation of inventory= Total current assets =total current assets-accounts receivable
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