Total Liabses and SES 1529.500 ns balance sheet was prepared by Muskrats bookkeeper and obviously needs some work As the w CPA working with this dient you dig a itte deeper and come up with the following e current assets is made up of cash $41.000 (including $19.000 cash restricted for advertising penditures to be made two years from now), accounts receivable of $105.000, inventones $90 000, and s uneamed rent revenue of $6,500 nvestments ection includes the company's pension fund of $145,000 for its employees, and equity and ot investments totaling $170.500, net of the related fair value adjustment accounts In this amount is nvestment of $10.500 in Treasury bills purchased on 12/1/20 These bils will mature on February 1. 1. Also in the $179.500 there are $35,500 in investments management intends to sell in late spring 20 hagement intends to hold the rest of the investments for at least the next 2 years Derty, plant, and equipment includes a bulding $520.000 less accumulated depreciation 2.000, equipment $225 000 less accumulated depreciation of $90,000. land $148,000 (including $98,00 t to buy land to be used in an expansion in 2028): and $200.000 for right of use assets (leased
Total Liabses and SES 1529.500 ns balance sheet was prepared by Muskrats bookkeeper and obviously needs some work As the w CPA working with this dient you dig a itte deeper and come up with the following e current assets is made up of cash $41.000 (including $19.000 cash restricted for advertising penditures to be made two years from now), accounts receivable of $105.000, inventones $90 000, and s uneamed rent revenue of $6,500 nvestments ection includes the company's pension fund of $145,000 for its employees, and equity and ot investments totaling $170.500, net of the related fair value adjustment accounts In this amount is nvestment of $10.500 in Treasury bills purchased on 12/1/20 These bils will mature on February 1. 1. Also in the $179.500 there are $35,500 in investments management intends to sell in late spring 20 hagement intends to hold the rest of the investments for at least the next 2 years Derty, plant, and equipment includes a bulding $520.000 less accumulated depreciation 2.000, equipment $225 000 less accumulated depreciation of $90,000. land $148,000 (including $98,00 t to buy land to be used in an expansion in 2028): and $200.000 for right of use assets (leased
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.23E: Unusual income statement items Assume that the amount of each of the following items is material to...
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