Data listed below are taken from a statement of financial position of ABC Company. Some amounts, indicated by question marks, have been intentionally omitted. Solve for the missing amounts Amount (inNormal balances)P 239,186353,700Account TitlesCash on hand and in bankShort-term investmentsAccounts receivable (net)504,944(1)?83,259InventoriesPrepaid expensesTotal current assets1,594,927Long term receivablesProperty, plant, and equipment (net)110,800(2)?(3)?Total assetsNotes payable and short-term debtAccounts payable31,116(4)?Accrued liabilities421,772Other current liabilitiesTotal current liabilitiesLong-term loans payableTotal liabilitiesShareholders' equity181,604693,564(5)?956,1401,370,627

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Amount (in Normal balances) Account Titles Cash on hand and in bank P 239,186 353,700 Short-term investments Accounts receivable (net) 504,944 Inventories (1)? Prepaid expenses 83,259 Total current assets 1,594,927 Long-term receivables Property, plant, and equipment (net) Total assets Notes payable and short-term debt 110,800 (2)? (3)? 31,116 Accounts payable (4)? Accrued liabilities 421,772 Other current liabilities 181,604 Total current liabilities Long-term loans payable Total liabilities Shareholders' equity 693,564 (5)? 956, 140 1,370,627

Amount (in Normal balances) Account Titles Cash on hand and in bank P 239,186 353,700 Short-term investments Accounts receivable (net) 504,944 Inventories (1)? Prepaid expenses 83,259 Total current assets 1,594,927 Long-term receivables Property, plant, and equipment (net) Total assets Notes payable and short-term debt 110,800 (2)? (3)? 31,116 Accounts payable (4)? Accrued liabilities 421,772 Other current liabilities 181,604 Total current liabilities Long-term loans payable Total liabilities Shareholders' equity 693,564 (5)? 956, 140 1,370,627

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

Chapter12: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12.24MCE

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