10. Texas Communications, Corp., reported the following figures in its financial
ID: 2374243 • Letter: 1
Question
10. Texas Communications, Corp., reported the following figures in its financial
statements (amounts in thousands):
cash $3,600 cost of goods sold $21,000
total operating expenses 3,300 equipment, net 3,900
accounts payable 4,000 accrued liabilities 1,800
total stockholder equity 4,100 net sales revenue 29,000
long term notes payable 600 accounts receivable 2,600
inventory 400
Explanation / Answer
Cash 3,600
Accounts Receivable 2,600
Inventory 400
Current Assets 6,600
Equipment (net) 3,900
Total Assets 10,500
Accounts Payable 4,000
Accrued Liabilities 1,800
Total Current Liabilities 5,800
Long term Notes Payable 600
Total Liabilities 6,400
Total srockholders equity 4,100
Total Liabilities and equity10,500
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