1. For Total current assets (on the Balance Sheet), use an Excel function to calculate the value. 2. For Total fixed assets (on the Balance Sheet), use operation signs to calculate the value. 3. As the CFA for Filler Construction, you notice the given Balance Sheet is suspiciously missing accounts that have an opposite normal balance of other accounts in their same category. a. What are these types of accounts called? b. add the following accounts where they should be listed: Allowance for Doubtful Accounts of $50, Accumulated Depreciation of $3450, and Treasury Stock of $450. Note: ensure these values are properly visually denoted as having the opposite normal balance. 4. Now you see that it is mising required formatting for a U.S. public company's external financial statement! Add in the required underlines where needed and change the number formatting to meet requirement. 5. What is a first "check" to determine if this Balance Sheet is balanced? 6. What are two financial ratios that can be determined from the information given on a Balance Sheet. Filler Construction Balance Sheet 31-Dec-23 Cash 2500 Accounts Receivable 4200 Total current assets 6700 Equipment 21000 Land 12100 Total fixed assets 33100 Patents 2500 Total Assets 42300 Accounts Payable 3750 Salaries Payable 1200 Total current liabilities 4950 Notes Payable, long-term 8100 Total long-term liabilities 8100 Total Liabilities 13050 Common Stock 14000 Retained Earnings 11300 Total Stockholders' Equity 25300 Total Liabilities & Stockholders' Equity 38350
1. For Total current assets (on the Balance Sheet), use an Excel function to calculate the value. 2. For Total fixed assets (on the Balance Sheet), use operation signs to calculate the value. 3. As the CFA for Filler Construction, you notice the given Balance Sheet is suspiciously missing accounts that have an opposite normal balance of other accounts in their same category. a. What are these types of accounts called? b. add the following accounts where they should be listed: Allowance for Doubtful Accounts of $50, Accumulated Depreciation of $3450, and Treasury Stock of $450. Note: ensure these values are properly visually denoted as having the opposite normal balance. 4. Now you see that it is mising required formatting for a U.S. public company's external financial statement! Add in the required underlines where needed and change the number formatting to meet requirement. 5. What is a first "check" to determine if this Balance Sheet is balanced? 6. What are two financial ratios that can be determined from the information given on a Balance Sheet. Filler Construction Balance Sheet 31-Dec-23 Cash 2500 Accounts Receivable 4200 Total current assets 6700 Equipment 21000 Land 12100 Total fixed assets 33100 Patents 2500 Total Assets 42300 Accounts Payable 3750 Salaries Payable 1200 Total current liabilities 4950 Notes Payable, long-term 8100 Total long-term liabilities 8100 Total Liabilities 13050 Common Stock 14000 Retained Earnings 11300 Total Stockholders' Equity 25300 Total Liabilities & Stockholders' Equity 38350
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
1. For Total current assets (on the Balance Sheet ), use an Excel function to calculate the value.
2. For Total fixed assets (on the Balance Sheet), use operation signs to calculate the value.
3. As the CFA for Filler Construction, you notice the given Balance Sheet is suspiciously missing accounts that have an opposite normal balance of other
accounts in their same category. a. What are these types of accounts called? b. add the following accounts where they should be listed: Allowance for
Doubtful Accounts of $50,Accumulated Depreciation of $3450, and Treasury Stock of $450. Note: ensure these values are properly visually denoted as
having the opposite normal balance.
4. Now you see that it is mising required formatting for a U.S. public company's external financial statement! Add in the required underlines where needed
and change the number formatting to meet requirement.
5. What is a first "check" to determine if this Balance Sheet is balanced?
6. What are two financial ratios that can be determined from the information given on a Balance Sheet.
2. For Total fixed assets (on the Balance Sheet), use operation signs to calculate the value.
3. As the CFA for Filler Construction, you notice the given Balance Sheet is suspiciously missing accounts that have an opposite normal balance of other
accounts in their same category. a. What are these types of accounts called? b. add the following accounts where they should be listed: Allowance for
Doubtful Accounts of $50,
having the opposite normal balance.
4. Now you see that it is mising required formatting for a U.S. public company's external financial statement! Add in the required underlines where needed
and change the number formatting to meet requirement.
5. What is a first "check" to determine if this Balance Sheet is balanced?
6. What are two financial ratios that can be determined from the information given on a Balance Sheet.
| Filler Construction | ||
| Balance Sheet | ||
| 31-Dec-23 | ||
| Cash | 2500 | |
| |
4200 | |
| Total current assets | 6700 | |
| Equipment | 21000 | |
| Land | 12100 | |
| Total fixed assets | 33100 | |
| Patents | 2500 | |
| Total Assets | 42300 | |
| Accounts Payable | 3750 | |
| Salaries Payable | 1200 | |
| Total current liabilities | 4950 | |
| Notes Payable, long-term | 8100 | |
| Total long-term liabilities | 8100 | |
| Total Liabilities | 13050 | |
| Common Stock | 14000 | |
| |
11300 | |
| Total |
25300 | |
| Total Liabilities & Stockholders' Equity | 38350 |
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