a. construct a balance sheet for 2016 and 2017. b. list all the working capital accounts. c. find the net working capital for the years ending 2016 and 2017.
a. construct a balance sheet for 2016 and 2017. b. list all the working capital accounts. c. find the net working capital for the years ending 2016 and 2017.
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
Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money
Section: Chapter Questions
Problem 9.5E: Current Liabilities and Ratios Several accounts that appeared on Kruses 2016 balance sheet are as...
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![Balance Sheet Accounts of Roman Corporation
Balance
12/31/2016
Account
Accumulated depreciation
Accounts payable
Accounts receivable
Cash
Common stock
Inventory
Long-term debt
Plant, property, and equipment
Retained earnings
$2,024
$1,792
$2,481
$1,309
$4,984
$5,796
$7,800
$8,395
$1,381
Balance
12/31/2017
$2,664
$2,069
$2,692
$1,116
$4,984
$6,032
$8,194
$9,204
$1,133](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F955ff4f4-16d4-4965-9c48-d9ab4c3976eb%2F4003d892-d03a-403b-b5eb-4717ad55fae6%2Fegumnf_processed.png&w=3840&q=75)
Transcribed Image Text:Balance Sheet Accounts of Roman Corporation
Balance
12/31/2016
Account
Accumulated depreciation
Accounts payable
Accounts receivable
Cash
Common stock
Inventory
Long-term debt
Plant, property, and equipment
Retained earnings
$2,024
$1,792
$2,481
$1,309
$4,984
$5,796
$7,800
$8,395
$1,381
Balance
12/31/2017
$2,664
$2,069
$2,692
$1,116
$4,984
$6,032
$8,194
$9,204
$1,133
![a. construct a balance sheet for 2016 and 2017.
b. list all the working capital accounts.
c. find the net working capital for the years ending 2016 and 2017.
d. calculate the change in net working capital for the year 2017.
a. construct a balance sheet for 2016 and 2017.
Complete the balance sheet for 2016 below: (Round to the nearest dollar.)
ASSETS
Current assets
Cash
Accounts receivable
Inventory
Roman Corporation
Balance Sheet as of December 31, 2016, and December 31, 2017
2016
2017 LIABILITIES
Total current assets
Fixed assets
Accumulated depreciation (-)
TOTAL ASSETS
GA
$
$
GA
GA
GA GA
LA
Current liabilities
Total current liabilities
Total liabilities
OWNERS' EQUITY
Total owners' equity
TOTAL LIABILITIES AND
OWNERS' EQUITY
GA
A
GA
GA
2016
2017](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F955ff4f4-16d4-4965-9c48-d9ab4c3976eb%2F4003d892-d03a-403b-b5eb-4717ad55fae6%2Fcy6pfl_processed.png&w=3840&q=75)
Transcribed Image Text:a. construct a balance sheet for 2016 and 2017.
b. list all the working capital accounts.
c. find the net working capital for the years ending 2016 and 2017.
d. calculate the change in net working capital for the year 2017.
a. construct a balance sheet for 2016 and 2017.
Complete the balance sheet for 2016 below: (Round to the nearest dollar.)
ASSETS
Current assets
Cash
Accounts receivable
Inventory
Roman Corporation
Balance Sheet as of December 31, 2016, and December 31, 2017
2016
2017 LIABILITIES
Total current assets
Fixed assets
Accumulated depreciation (-)
TOTAL ASSETS
GA
$
$
GA
GA
GA GA
LA
Current liabilities
Total current liabilities
Total liabilities
OWNERS' EQUITY
Total owners' equity
TOTAL LIABILITIES AND
OWNERS' EQUITY
GA
A
GA
GA
2016
2017
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