A list of financial statement items for Sunland Corporation includes the following accounts receivable 513,400; cash $16,400. inventory $8,400; supplies $2,500: prepaid insurance $3,100; accumulated depreciation-buildings $31.300; accumulated depreciation-equipment $24.400; buildings $111,500; equipment $69,300; and tand $65.400 Prepare the assets section of the statement of financial position. (List Current Assets in order of liquidity, List Property, Plant, and Equipment in order of Land, Bulldings and Equipment.) SUNLANDCORPORATION Statement of Financial Position (Partial) Assets

A list of financial statement items for Sunland Corporation includes the following accounts receivable 513,400; cash $16,400. inventory $8,400; supplies $2,500: prepaid insurance $3,100; accumulated depreciation-buildings $31.300; accumulated depreciation-equipment $24.400; buildings $111,500; equipment $69,300; and tand $65.400 Prepare the assets section of the statement of financial position. (List Current Assets in order of liquidity, List Property, Plant, and Equipment in order of Land, Bulldings and Equipment.) SUNLANDCORPORATION Statement of Financial Position (Partial) Assets

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

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

See similar textbooks

Similar questions

Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $38,359 Accounts receivable 64,021 Accrued liabilities 6,278 Cash 16,357 Intangible assets 39,145 Inventory 71,744 Long-term investments 114,022 Long-term liabilities 78,081 Marketable securities 37,693 Notes payable (short-term) 26,031 Property, plant, and equipment 652,011 Prepaid expenses 2,879 Based on the data for Harding Company, what is the amount of working capital?
The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The balance sheet revealed the following: Inventory Total assets Current ratio Acid-test ratio Debt to equity ratio 1. Current assets 2. Shareholders' equity 3. Long-term assets 4. Long-term liabilities $ 840,000 $ 2,800,000 Required: Determine the following balance sheet items: $ $ $ $ 2.25 1.2 1.8 1,800,000 1,000,000 1,000,000 1,000,000 PLEASE SHOW STEP BY STEP SOLUTION ESPECIALLY FOR QUESTION 2 AND 3
Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $37,895 Accounts receivable 69,212 Accrued liabilities 6,543 Cash 17,127 Intangible assets 36,451 Inventory 78,770 Long-term investments 99,442 Long-term liabilities 72,027 Marketable securities 39,229 Notes payable (short-term) 24,334 Property, plant, and equipment 693,814 Prepaid expenses 1,182 Based on the data for Harding Company, what is the quick ratio, rounded to one decimal point? a.3 b.15.1 c.0.8 d.1.8
The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The balance sheet revealed the following: Inventory Total assets Current ratio Acid-test ratio Debt to equity ratio $ 880,000 $ 3,200,000 1. Current assets 2. Shareholders' equity 3. Long-term assets 4. Long-term liabilities 2.50 1.50 1.5 Required: Determine the following balance sheet items:
Below is the ledger of XYZ Company Account Titles Amount Accounts Receivable 259,345.00 Accumulated depreciation - Buildings 484,180.00 Accumulated depreciation - Furniture and Fixtures 139,766.00 Accumulated depreciation - Manufacturing Equipments 182,228.00 Allowance for Doubtful Accounts 54,300.00 Bonds Payable 560,000.00 Buildings 1,152,637.00 Cash in Bank 535,445.00 Cash on Hand 58,598.00 Current portion of Long-term Notes Payable Finished goods 250,000.00 17,068.00 Furnitures and Fixtures 346,641.00 Income Taxes Payable Land 52,053.00 926,747.00 Leasehold Improvements 350,600.00 Long-term Notes Payable Manufacturing Equipments Money Market Fund 1,750,000.00 345,234.00 32,578.00 Mortgage Payable 460,000.00 Patents 889,467.00 Petty Cash Fund 30,000.00 Raw materials 490,063.00 S. Martin, Capital 1,766,056.00 Salaries Payable 45,608.00 Short-term investments 360,614.00 Trade Accounts Payable 254,900.00 Treasury Bills 203,514.00 Unearned Revenue 67,573.00 Utilities Payable Work in…
Please help me
The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The balance sheet revealed the following: Inventory $ 1,010,000 Total assets $ 3,600,000 Current ratio 2.20 Acid-test ratio 1.20 Debt to equity ratio 1.5 Complete the Following 1. Current Assets 2. Shareholders Equity 3. Long-Term Assets 4. Long-Term Liabilites
The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The balance sheet revealed the following: Inventory Total assets Current ratio $ 860,000 $ 3,200,000 2.40 1.40 Debt to equity ratio 1.5 Acid-test ratio Required: Determine the following balance sheet items: 1. Current assets 2. Shareholders' equity 3. Long-term assets 4. Long-term liabilities
The balance sheet shows the following accounts and amounts: Inventory, $84.000; Long-term Debt 125,000; Common Stock $60,000, Accounts Payable $44,000; Cash $132,000, Buildings and Equipment $390,000: Short-term Debt $48,000, Accounts Receivable $109,000; Retained Earnings $204,000; Notes Payable $54,000; Accumulated Depreciation $180,000. Total current assets on the balance sheet are Multiple Choice $216,000 $325,000 $535.000 $715,000 1 www Liter
The following data pertain to Mori Company: Accounts Payable, $10,200; Accounts Receivable, $7,600; Accumulated Depreciation—Building, $2,800; Accumulated Depreciation—Equipment, $3,400; Bonds Payable, $12,000; Building, $14,000; Cash, $6,240; Copyright, $1,240; Equipment, $30,400; Inventory, $8,000; Investment in Corporate Securities (long-term), $4,000; Investment in Six-Month Government Securities, $3,280; H. Mori, Capital, $47,640; Land, $1,600; Prepaid Rent, $240; and Revenue Received in Advance, $560. Prepare a classified balance sheet at December 31, 2014. Assume that this is Mori’s first year of operations.
Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Corporation Wayne EnterprisesCurrent assets:Cash and cash equivalents $ 2,494 $ 541Current investments 125Net receivables 1,395 217Inventory 10,710 8,600Other current assets 773 301Total current assets $15,372 $9,784Current liabilitiesCurrent debt $ 1,321 $ 47Accounts payable 8,871 5,327Other current liabilities 1,270 2,334Total current…
The following information pertains to Dallas Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Cash and short-term investments $41,706 Accounts receivable (net) 32,359 Inventory 33,536 Property, plant, and equipment 244,092 Total Assets $351,693 Liabilities and Stockholders' Equity Current liabilities $67,811 Long-term liabilities 92,969 Common stock, $20 par 125,380 Retained earnings 65,533 Total Liabilities and stockholders' equity $351,693 Income Statement Sales $85,174 Cost of goods sold 38,328 Gross margin $46,846 Operating expenses 28,378 Net income $18,468 Number of shares of common stock 6,269 Market price of common stock $20 Dividends per share $1.00 Cash provided by operations $40,000 What is the return on stockholders' equity? a.28.2% b.1.1% c.6.9% d.2.9%