Financial Accounting - Tutorialspoint
assets, the nature and value of liability, and also the capital position of the firm. With the help of that, we can easily ascertain the soundness of any business entity.
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www.csus.eduAssets Cash 4,895$ Accounts receivable 5,714 Inventories 8,517 Plant and equipment 7,154 Land 981 Total assets 27,261$ Liabilities and Stockholders' Equity Liabilities Accounts payable 7,156$ Notes payable 9,000 Total liabilities 16,156$ Stockholders' Equity Contributed capital 2,000$ Retained earnings 9,105
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