Krispy Kreme Company, the doughnut company, had the following items on its Janua

Question

Krispy Kreme Company, the doughnut company, had the following items on its January 29, 2012, balance sheet (in thousands): 9-38 Liabilities on the Balance Sheet 1, 2 Cash and cash equivalents Accounts payable Total stockholders' equity Accrued liabilities Inventories Current maturities of long-term debt Long-term debt, less current maturities Other long-term obligations $44,319 10,494 249,126 28,800 16,497 2,224 25,369 18,935 Prepare the liabilities section of Krispy Kreme's balance sheet. Include only the items that are properly included in liabilities. Separate current and long-term liabilities. 9-39 Various liabilities ES 1, 6

Explanation / Answer

Krispy kreme's Company Amount in$ Liabilities and Net worth Current Liability Account payable                 10,494 Accrued Liabilities                 28,800 Current maturity long term debt *                   2,224 Total current liability                  41,518 Non current asset   Long term debt less current maturities                   25,369 Other long term obligations                 18,935 Total non current liabilities                    44,304 Owners Equity and Net worth     Common share               2,49,126 Retained Earnings                            -   Total stockholders' equity              2,49,126 Total Liabilities and Net worth              3,34,948 *The portion of long-term liabilities that must be paid in the coming 12-month period are classified as current liabilities

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