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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
A colleague who is aware of your understanding of financial statements asks for help in analyzing the transactions and events of Zett Corporation. The following data are provided:
ZETT CORPORATION Balance Sheets December 31, Year 1 and Year 2 |
||
 |
Year 1 |
Year 2 |
Cash |
$ 34,000 |
$ 34,500 |
Accounts receivable, net |
12,000 |
17,000 |
Inventory |
16,000 |
14,000 |
Investments (long term) |
6,000 |
— |
Fixed assets |
80,000 |
93,000 |
Accumulated depreciation |
(48,000) |
(39,000) |
Total assets |
$100,000 |
$119,500 |
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