Pledged Assets : BCV ERV 60,000 41,600 32,000 133,600 Plant, property, and equipment (PPE) Merchandise inventory Free assets Total assets Secured liabilities Bonds payable (secured by PPE) Notes payable (secured by merchandise inventory) Unsecured liabilities: Taxes 72,000 59,200 56,000 187,200 24,000 48,000 Salaries and wages Accounts payable 3,000 2,600 5,600 89,600

Pledged Assets : BCV ERV 60,000 41,600 32,000 133,600 Plant, property, and equipment (PPE) Merchandise inventory Free assets Total assets Secured liabilities Bonds payable (secured by PPE) Notes payable (secured by merchandise inventory) Unsecured liabilities: Taxes 72,000 59,200 56,000 187,200 24,000 48,000 Salaries and wages Accounts payable 3,000 2,600 5,600 89,600

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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