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    ACCT212_Working paper, Learning Objectives 3, 4: Using the accounting equation; evaluating business operations. Hombran Doughnuts has current assets of $290 million; property, plant, and equipment $490 million; and other assets totaling $150 million. Current liabilities are $150 million and long-term liabilities total $310 million.

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    ACCT212_Working paper, Learning Objectives 3, 4: Using the accounting equation; evaluating business operations. Hombran Doughnuts has current assets of $290 million; property, plant, and equipment $490 million; and other assets totaling $150 million. Current liabilities are $150 million and long-term liabilities total $310 million.

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    138 views1 page

    ACCT212 WorkingPapers E1-17A

    Uploaded by

    lowluder
    ACCT212_Working paper, Learning Objectives 3, 4: Using the accounting equation; evaluating business operations. Hombran Doughnuts has current assets of $290 million; property, plant, and equipment $490 million; and other assets totaling $150 million. Current liabilities are $150 million and long-term liabilities total $310 million.

    Copyright:

    Attribution Non-Commercial (BY-NC)
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    FINANCIAL ACCOUNTING - Eighth Edition E 1-17A (10-15 min.

    Solutions Manual

    Learning Objectives 3, 4: Using the accounting equation; evaluating business operations

    Hombran Doughnuts has current assets of $290 million; property, plant, and equipment $490 million; and other assets totaling $150 million. Current liabilities are $150 million and long-term liabilities total $310 million. Requirements 1. Use these data to write Hombran Doughnuts accounting equation. 2. 3. 4. How much in resources does Hombran have to work with? How much does Hombran owe creditors? How much of the companys assets do the Hombran stockholders actually own?

    Solution: Req. 1 (Amounts in millions) Assets = Liabilities + Stockholders Equity

    Total Req. 2 Req. 3 Req. 4

    Chapter 1: The Financial Statements

    Page 1 of 1

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