Question

BALANCE SHEET This Year Cash 23,450 Accounts Receivable 75,250 Inventory 295,000 Current Assets 393,700 Net Property,...

BALANCE SHEET
This Year
Cash 23,450
Accounts Receivable 75,250
Inventory 295,000
Current Assets 393,700
Net Property, Plant & Equipment 322,500
Total Assets 716,200
Accounts Payable 48,250
Short-Term Debt - (3%) 22,000
Accrued Expenses 18,750
Current Liabililities
Long Term Debts - (5%) 365,000
Total Liabilities
Common Stock 100,000
Retained Earnings 162,200
Total Equity 262,200
Total Liabilities & Equity
Instructions: Calculate the correct values for each of the (YELLOW) Cells.
Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Current assets = Cash + Accounts receivable + Inventory

Current assets = $23450 + $75250 + $295000 = $393700

Total assets = Current assets + Net property plant & equipment

Total assets = $393700 + $322500

Total assets = $716200

Current liabilities = Accounts payable + Short term debt + Accrued expenses

Current liabilities = $48250 + $22000 + $18750

Current liabilities = $89000

Total liabilities = Current liabilities + Long term debt

Total liabilities = $89000 + $365000

Total liabilities = $454000

Total equity = Common stock + Retained earnings

Total equity = $100000 + $162200

Total equity = $262200

Total liabilities & equity = Total liabilities + Total equity

Total liabilities & equity = $454000 + $262000

Total liabilities & equity = $716200

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Assets Current assets: cash $16,000 Accounts receivable 6000 Total current assets $22,000 Property, plant, and equipment:...
Assets Current assets: cash $16,000 Accounts receivable 6000 Total current assets $22,000 Property, plant, and equipment: Equipment 12,000 Accumulated Depreciation- equipment (credit balance) (6,000) Total property, plant, and equipment 6,000 Total assets 28,000 Liabilities Current liabilities Accounts payable 1,800 Total current liabilities 1,800 Stockholders’ equity Common stock 1,000 Retained earnings 25,000 Total stockholders’ equity 26,000 Total liabilities and stockholders’ equity 27, 800 I am trying to create a balance sheet with the information the instructor gives. She is very difficult...
Consider the following balance sheet: BestCare HMO Balance Sheet June 30, 2011 (in thousands) Assets Current...
Consider the following balance sheet: BestCare HMO Balance Sheet June 30, 2011 (in thousands) Assets Current Assets: Cash                                        $2,737 Net premiums receivable        821 Supplies                                  387 Total current assets    $3,945 Net property and equipment             $5,924 Total assets                                         $9,869 Liabilities and Net Assets Accounts payable—medical Services                                   $2,145 Accrued expenses                               929 Notes payable                                     382             Total current liabilities            $3,456 Long-term debt                                   $4,295 Total liabilities                        $7,751 Net assets—unrestricted (equity)                                   $2,118 Total liabilities and net Assets                                     $9,869 Consider the following financial statements...
Balance Sheet Assets: 12/31/19 Current Assets: Cash $               3,000.00 Accounts Receivable             &nb
Balance Sheet Assets: 12/31/19 Current Assets: Cash $               3,000.00 Accounts Receivable                    1,250.00 Prepaid Expenses $                    100.00 Total Current Assets $               4,350.00 Non-Current Assets: Property, Plant, and Equipment Land $            10,000.00 Buildings                 25,000.00 Equipment                 15,000.00 Accumulated Depreciation $          (12,000.00) Total Property, Plant, and Equipment $            38,000.00 Total Assets $            42,350.00 Liabilities: Current Liabilities Accounts Payable $                    100.00 Accrued Expense                         150.00 Salary and Wages Payable                                      -   Notes Payable                                      -   Unearned Revenue $               1,500.00 Total Liabilities $              ...
Krech Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current...
Krech Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 35,000 $ 27,300 Accounts receivable 20,000 24,000 Inventory 66,000 62,000 Prepaid expenses 12,800 10,400 Total current assets 133,800 123,700 Property, plant, and equipment 422,000 402,000 Less accumulated depreciation 211,000 180,900 Net property, plant, and equipment 211,000 221,100 Total assets $ 344,800 $ 344,800 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 19,400 $ 13,000 Accrued liabilities 56,000...
Illies Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current...
Illies Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 48,000 $ 41,000 Accounts receivable 27,000 29,800 Inventory 75,000 77,800 Total current assets 150,000 148,600 Property, plant, and equipment 382,000 355,000 Less accumulated depreciation 172,000 140,000 Net property, plant, and equipment 210,000 215,000 Total assets $ 360,000 $ 363,600 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 26,000 $ 27,800 Accrued liabilities 62,000 67,800 Income taxes payable...
Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets: Cash...
Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets: Cash $ 1,280 $ 1,560 Accounts receivable, net 12,300 9,100 Inventory 9,700 8,200 Prepaid expenses 1,800 2,100 Total current assets 25,080 20,960 Property and equipment: Land 6,000 6,000 Buildings and equipment, net 19,200 19,000 Total property and equipment 25,200 25,000 Total assets $ 50,280 $ 45,960 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 9,500 $ 8,300 Accrued liabilities 600 700 Notes payable, short...
Balance Sheet The following balance sheet contains errors. ATLAS SERVICES CO. Balance Sheet For the Year...
Balance Sheet The following balance sheet contains errors. ATLAS SERVICES CO. Balance Sheet For the Year Ended May 31, 20Y5 Assets   Current assets:   Cash $ 12,000   Accounts payable 47,900   Supplies 4,800   Prepaid insurance 17,400   Land 400,000   Total current assets $482,100 Property, plant, and equipment:   Building $ 225,000   Equipment 90,000   Total property, plant, and equipment 315,000 Total assets $797,100 Liabilities Current liabilities:   Accounts receivable $ 40,800   Accumulated depreciation—building 54,600   Accumulated depreciation—equipment 32,400   Net loss 44,200 Total liabilities $172,000 Stockholders’ Equity   Wages...
17-3 17-04 Vertical Analysis of Balance Sheet Balance sheet data for Alvarez Company on December 31,...
17-3 17-04 Vertical Analysis of Balance Sheet Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows: Current Year Previous Year Current assets $340,000 $210,000 Property, plant, and equipment 520,000 487,500 Intangible assets 140,000 52,500 Current liabilities 200,000 97,500 Long-term liabilities 410,000 322,500 Common stock 110,000 105,000 Retained earnings 280,000 225,000 Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders'...
Carriveau Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets:...
Carriveau Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 31 $ 34 Accounts receivable 73 67 Inventory 74 64 Total current assets 178 165 Property, plant, and equipment 456 370 Less accumulated depreciation 207 196 Net property, plant, and equipment 249 174 Total assets $ 427 $ 339 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 49 $ 56 Accrued liabilities 19 20 Income taxes...
Rowan Company Comparative Balance Sheet (dollars in millions) Ending Balance Beginning Balance Assets Current assets: Cash...
Rowan Company Comparative Balance Sheet (dollars in millions) Ending Balance Beginning Balance Assets Current assets: Cash and cash equivalents $ 70 $ 91 Accounts receivable 536 572 Inventory 620 580 Total current assets 1,226 1,243 Property, plant, and equipment 1,719 1,656 Less accumulated depreciation 640 480 Net property, plant, and equipment 1,079 1,176 Total assets $ 2,305 $ 2,419 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 205 $ 180 Accrued liabilities 94 105 Income taxes payable 72 88...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT