Given the following information, construct the firm’s balance sheet: Cash and cash equivalents $ 530,000 Accumulated depreciation on plant and equipment 1,050,000 Plant and equipment 4,760,000 Accrued wages 350,000 Long-term debt 4,860,000 Inventory 7,000,000 Accounts receivable 4,140,000 Preferred stock 620,000 Retained earnings 8,166,000 Land 2,630,000 Accounts payable 1,730,000 Taxes due 110,000 Common stock $ 18 par Common shares outstanding 98,000 Current portion of long-term debt $ 410,000 Round your answers to the nearest dollar. Corporation X Balance Sheet as of XX/XX/XX Assets Liabilities and Owners' Equity Cash and cash equivalents $ Accounts payable $ Accounts receivable Taxes due Inventory Accrued wages Total current assets $ Current portion of long-term debt $ Land Total current liabilities Plant and equipment Long-term debt Preferred stock Common stock Retained earnings Total shareholders’ equity Total assets $ Total liabilities and shareholders’ equity $
Given the following information, construct the firm’s balance sheet: Cash and cash equivalents $ 530,000 Accumulated depreciation on plant and equipment 1,050,000 Plant and equipment 4,760,000 Accrued wages 350,000 Long-term debt 4,860,000 Inventory 7,000,000 Accounts receivable 4,140,000 Preferred stock 620,000 Retained earnings 8,166,000 Land 2,630,000 Accounts payable 1,730,000 Taxes due 110,000 Common stock $ 18 par Common shares outstanding 98,000 Current portion of long-term debt $ 410,000 Round your answers to the nearest dollar. Corporation X Balance Sheet as of XX/XX/XX Assets Liabilities and Owners' Equity Cash and cash equivalents $ Accounts payable $ Accounts receivable Taxes due Inventory Accrued wages Total current assets $ Current portion of long-term debt $ Land Total current liabilities Plant and equipment Long-term debt Preferred stock Common stock Retained earnings Total shareholders’ equity Total assets $ Total liabilities and shareholders’ equity $
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 14P
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Question
Given the following information, construct the firm’s
Cash and cash equivalents | $ | 530,000 |
Accumulated |
1,050,000 | |
Plant and equipment | 4,760,000 | |
Accrued wages | 350,000 | |
Long-term debt | 4,860,000 | |
Inventory | 7,000,000 | |
4,140,000 | ||
620,000 | ||
8,166,000 | ||
Land | 2,630,000 | |
Accounts payable | 1,730,000 | |
Taxes due | 110,000 | |
Common stock | $ | 18 par |
Common shares outstanding | 98,000 | |
Current portion of long-term debt | $ | 410,000 |
Round your answers to the nearest dollar.
Corporation X | ||||||
Balance Sheet as of XX/XX/XX | ||||||
Assets | Liabilities and Owners' Equity | |||||
Cash and cash equivalents | $ | Accounts payable | $ | |||
Accounts receivable | Taxes due | |||||
Inventory | Accrued wages | |||||
Total current assets | $ | Current portion of long-term debt | $ | |||
Land | Total current liabilities | |||||
Plant and equipment | Long-term debt | |||||
Preferred stock | ||||||
Common stock | ||||||
Retained earnings | ||||||
Total shareholders’ equity | ||||||
Total assets | $ | Total liabilities and shareholders’ equity | $ | |||
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