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How much was this businesses inventory sold for in the year ended December 31, 2022? 2. On the december 31, 2022 balance sheet, this businesses beginning inventory balance was more than its ending inventory balance. True or false?

How much was this businesses inventory sold for in the year ended December 31, 2022? 2. On the december 31, 2022 balance sheet, this businesses beginning inventory balance was more than its ending inventory balance. True or false?

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter10: Long-term Liabilities
Section: Chapter Questions
Problem 10.12E
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1. How much was this businesses inventory sold for in the year ended December 31, 2022?

2. On the december 31, 2022 balance sheet, this businesses beginning inventory balance was more than its ending inventory balance. True or false?

 
Assets Current assets: Cash and cash equivalents Accounts receivable, net Inventory Prepaid expenses and other current assets Income tax receivable Investments Total current assets Leasehold improvements, property and equipment, net Long-term investments Restricted cash Operating lease assets Other assets Goodwill Total assets Liabilities and shareholders' equity Current liabilities: Accounts payable Accrued payroll and benefits Accrued liabilities Unearned revenue Current operating lease liabilities Total current liabilities Commitments and contingencies (Note 11) Long-term operating lease liabilities Deferred income tax liabilities: Other liabilities Total liabilities Shareholders' equity: Preferred stock, $0.01 par value, 600,000 shares authorized, no shares issued as of December 31, 2022 and December 31, 2021, respectively Common stock, 50.01 par value, 230,000 shares authorized, 37,320 and 37,132 shares issued as of December 31, 2022 and December 31, 2021, respectively Additional paid-in capital Treasury stock, at cost, 9,693 and 9,052 common shares as of December 31, 2022 and December 31, 2021, respectively Accumulated other comprehensive loss Retained earnings Total shareholders' equity Total liabilities and shareholders' equity 2022 December 31, 384,000 $ 106,880 35,668 86,412 47,741 515,136 1,175,837 1,951,147 388,055 24,966 3,302,402 63,158 21,939 6,927,504 184,566 170,456 147,539 183,071 236,248 921,880 3,495,162 98,623 43,816 4,559,481 373 1,829,304 (4,282,014) (7,888) $ 4,828,248 2,368,023 6,927,504 $ 2021 815,374 99,599 32,826 78,756 94,064 260,945 1,381,564 1,769,278 274,311 30,856 3,118,2941 56,716 21,939 6,652,958 163,161 162,405 173,052 156,351 218,713 873,682 3,301,601 141,765 38,536 4,355,584 371 1,729,312 (3,356,102) (5,354) 3,929,147 2,297,374 6,652,958
Transcribed Image Text:Assets Current assets: Cash and cash equivalents Accounts receivable, net Inventory Prepaid expenses and other current assets Income tax receivable Investments Total current assets Leasehold improvements, property and equipment, net Long-term investments Restricted cash Operating lease assets Other assets Goodwill Total assets Liabilities and shareholders' equity Current liabilities: Accounts payable Accrued payroll and benefits Accrued liabilities Unearned revenue Current operating lease liabilities Total current liabilities Commitments and contingencies (Note 11) Long-term operating lease liabilities Deferred income tax liabilities: Other liabilities Total liabilities Shareholders' equity: Preferred stock, $0.01 par value, 600,000 shares authorized, no shares issued as of December 31, 2022 and December 31, 2021, respectively Common stock, 50.01 par value, 230,000 shares authorized, 37,320 and 37,132 shares issued as of December 31, 2022 and December 31, 2021, respectively Additional paid-in capital Treasury stock, at cost, 9,693 and 9,052 common shares as of December 31, 2022 and December 31, 2021, respectively Accumulated other comprehensive loss Retained earnings Total shareholders' equity Total liabilities and shareholders' equity 2022 December 31, 384,000 $ 106,880 35,668 86,412 47,741 515,136 1,175,837 1,951,147 388,055 24,966 3,302,402 63,158 21,939 6,927,504 184,566 170,456 147,539 183,071 236,248 921,880 3,495,162 98,623 43,816 4,559,481 373 1,829,304 (4,282,014) (7,888) $ 4,828,248 2,368,023 6,927,504 $ 2021 815,374 99,599 32,826 78,756 94,064 260,945 1,381,564 1,769,278 274,311 30,856 3,118,2941 56,716 21,939 6,652,958 163,161 162,405 173,052 156,351 218,713 873,682 3,301,601 141,765 38,536 4,355,584 371 1,729,312 (3,356,102) (5,354) 3,929,147 2,297,374 6,652,958
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