value 5.00 points Supreme Videos, Inc., produces short musical videos for sale to retail outlets....
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value 5.00 points Supreme Videos, Inc., produces short musical videos for sale to retail outlets. The company's balance year, are given below Supreme Videos, Inc. Balance Sheet January 1 Assets Current assets: $84,000 123,000 Cash Accounts receivable Inventories $51,000 Raw materials (film, costumes) Videos in process Finished videos awating sale 20,000 102.000173,000 13,200 Prepaid insurance 393,200 231,000 541,000 $934,200 Total current assets Studio and equipment 772,000 ess accumu Total assets Liablities and Stockholders' Equity $133,200 Accounts payable Capital stock Retained eamings $510,000 291,000 801,000 Total liabilities and stockholders' equity $934.200
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