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Determined the common stock for Bertinelli Corp. based on the following information: cash = $380,000; patents...

Determined the common stock for Bertinelli Corp. based on the following information: cash = $380,000; patents and copyrights = $730,000; accounts payable = $380,000; accounts receivable = $179,000; tangible net fixed assets = $3,800,000; inventory = $345,000; notes payable = $180,000; accumulated retained earnings = $1,235,000; long-term debt = $1,530,000.

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Answer #1

Total assets = Cash + Patents and copyright + Acounts receivable + Tangible net fixed assets + Inventory

= 380000 + 730000 + 179000 + 3800000 + 345000

= 5434000

Total liabilities = Accounts payable + Notes payable + Long term debt

= 380000 + 180000 + 1530000

= 2090000

Total equity = Total assets - Total liabilities

= 5434000 - 2090000

= 3344000

Total equity = Common stock + Retained earning

3344000 = Common stock + 1235000

Common stock = 3344000 - 1235000

= 2109000

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