Presented Below Are Selected Data from the Balance Sheet A) Determine the Amount of "Other Assets

question 2

Essay

Presented below are selected data from the balance sheet:
$$\begin{array} { l r } \text { Current assets } & \$ 250,000 \\\text { Property. plant, and equipment } & 700,000 \\\text { Other assets } & ? ? \text { ? } \\\text { Current liabilities } & 200,000 \\\text { Total long-term debt } & 500,000 \\\text { Tatal shareholders' equity } & 275,000\end{array}$$
A) Determine the amount of "Other assets."
(Hint: you must use the accounting equation concept to determine your answer.)

B) How much of the company is financed by creditors? How much is financed by the owners?

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Definitions:

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