E4-6 LO 4.3 LO 4.6 SHOW ME HOW Balance Sheet Baggett Company's balance sheet accounts and amounts as of December 31, 2019, are shown in random order as follows: Debit (Credit) $ 17,900) (1,600) (23,000) 57,400 5,000 Account Income Taxes Payable Prepaid Items Additional Paid-in Capital on Common Stock Land Notes Payable (due 2022) Notes Receivable (due 2021) Accounts Receivable Premium on Bonds Payable Accounts Payable Inventory Accumulated Depreciation: Buildings Debit (Credit) $ (3,800) 1,800 (9,300) 12,200 (6,000) 16,400 12,600 (1,400) (13,100) 7,400 (21,000) 4,600 28,700 Account Additional Paid in Capital on Preferred Stock Allowance for Doubtful Accounts Bonds Payable (due 2023) Buildings Sinking Fund to Retire Bonds Payable Advances from Customers (long-term) Cash Accumulated Depreciation: Equipment Retained Earnings Preferred Stock, $100 par Patents (net) Equipment Required: 1. Prepare a December 31, 2019, balance sheet for Baggett. 2. Compute the debt-to-assets ratio. Wages Payable Common Stock, $10 par (2,600) 4,300 (9,700) (18,300) (18,600) (1,400) (12,700)
E4-6 LO 4.3 LO 4.6 SHOW ME HOW Balance Sheet Baggett Company's balance sheet accounts and amounts as of December 31, 2019, are shown in random order as follows: Debit (Credit) $ 17,900) (1,600) (23,000) 57,400 5,000 Account Income Taxes Payable Prepaid Items Additional Paid-in Capital on Common Stock Land Notes Payable (due 2022) Notes Receivable (due 2021) Accounts Receivable Premium on Bonds Payable Accounts Payable Inventory Accumulated Depreciation: Buildings Debit (Credit) $ (3,800) 1,800 (9,300) 12,200 (6,000) 16,400 12,600 (1,400) (13,100) 7,400 (21,000) 4,600 28,700 Account Additional Paid in Capital on Preferred Stock Allowance for Doubtful Accounts Bonds Payable (due 2023) Buildings Sinking Fund to Retire Bonds Payable Advances from Customers (long-term) Cash Accumulated Depreciation: Equipment Retained Earnings Preferred Stock, $100 par Patents (net) Equipment Required: 1. Prepare a December 31, 2019, balance sheet for Baggett. 2. Compute the debt-to-assets ratio. Wages Payable Common Stock, $10 par (2,600) 4,300 (9,700) (18,300) (18,600) (1,400) (12,700)
Fundamentals of Financial Management (MindTap Course List)
15th Edition
ISBN:9781337395250
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter3: Financial Statements, Cash Flow, And Taxes
Section: Chapter Questions
Problem 19SP: FINANCIAL STATEMENTS, CASH FLOW, AND TAXES Laiho Industriess 2017 and 2018 balance sheets (in...
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