Accounts payable ? Other assets $30,350 Accounts receivable $8,739 Other liabilities $57,786 Capital in excess of par $187,506 Property, plant, and equipment $103,684 value Cash $92,827 Retained earnings $35,097 Common stock at par value $402 Total assets $378,045 Inventory ? Total liabilities ? Long-term liabilities $9.474 Total liabilities and net ? worth Notes payable $11,195 Total net worth ?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

As published in its annual report, the consolidated balance sheet of Packers includes the items shown below (listed alphabetically). Solve, a. Determine the values for the missing items. b. Prepare a balance sheet for Packers.

Accounts payable
? Other assets
$30,350
Accounts receivable
$8,739 Other liabilities
$57,786
Capital in excess of par
$187,506 Property, plant, and
equipment
$103,684
value
Cash
$92,827 Retained earnings
$35,097
Common stock at par value
$402 Total assets
$378,045
Inventory
? Total liabilities
?
Long-term liabilities
$9.474 Total liabilities and net
?
worth
Notes payable
$11,195 Total net worth
?
Transcribed Image Text:Accounts payable ? Other assets $30,350 Accounts receivable $8,739 Other liabilities $57,786 Capital in excess of par $187,506 Property, plant, and equipment $103,684 value Cash $92,827 Retained earnings $35,097 Common stock at par value $402 Total assets $378,045 Inventory ? Total liabilities ? Long-term liabilities $9.474 Total liabilities and net ? worth Notes payable $11,195 Total net worth ?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 4 images

Blurred answer
Knowledge Booster
Balance Sheet Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education