Assets Liabilities and Equity $ 20,000 280,000 400,000 100,000 Current liabilities. Common stock ($5 par). Paid-in capital in excess of par Retained earnings . Total liabilities and equity Cash $250,000 Inventory Property, plant, and equipment (net) . Goodwill 50,000 130,000 370,000 Total assets. $800,000 $800,000

Assets Liabilities and Equity $ 20,000 280,000 400,000 100,000 Current liabilities. Common stock ($5 par). Paid-in capital in excess of par Retained earnings . Total liabilities and equity Cash $250,000 Inventory Property, plant, and equipment (net) . Goodwill 50,000 130,000 370,000 Total assets. $800,000 $800,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 62BE: Brief ExerciseRatio Analysis Valiant Corporation has $1,800,000 in total liabilities, $800,000 of...

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Myers Company provides you with the following condensed balance sheet information. Assets 0000 Liabilities and Stockholders’ Equity Current assets $ 40,000 Current and long-term liabilities 00 $100,000 Equity investments 60,000 Stockholders’ equity 00 00 Equipment (net) 250,000 00Common stock ($5 par) $ 20,000 00 Intangibles $160,000 00Paid-in capital in excess of par 110,000 00 00Total assets $410,000 00Retained earnings 0180,000 $310,000 00 00 0000Total liabilities and stockholders’ equity 00 $410,000 Instructions For each of the following transactions, indicate the dollar impact (if any) on the following five items: (1) total assets, (2) common stock, (3) paid-in capital in excess of par, (4) retained earnings, and (5) stockholders’ equity. (Each situation is independent.) a. Myers declares and pays a $0.50 per share cash dividend. b. Myers declares and issues a 10% stock dividend when the market price of the stock is $14 per share. c.…
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