Assets Current Assets Cash Accounts receivable Inventories Other current assets Long-Term Assets Land 44.5 5.2 Total current assets 167.3 Buildings Equipment Less accumulated depreciation Net property, plant, and 2006 2005 Stockholders' Equity Current Liabilities 58.5 Accounts payable Notes payable/ 55.6 39.6 short-term debt equipment Goodwill 62 42.9 3.0 144.0 66.2 62.1 109.7 91.5 116.8 99.6 (54.5) 238 2 600 Current maturities of long-term debt Other current liabilities Total current liabilities Long-Term Liabilites Long-term debt Capital lease obligations (52.5) Deferred taxes 200.7 Other long-term liabilities 2006 86.9 9.3 40.1 6.0 142.3 237,8 22.8 2005 73.5 9.6 36.9 12.0 132.0 168.9 222

Assets Current Assets Cash Accounts receivable Inventories Other current assets Long-Term Assets Land 44.5 5.2 Total current assets 167.3 Buildings Equipment Less accumulated depreciation Net property, plant, and 2006 2005 Stockholders' Equity Current Liabilities 58.5 Accounts payable Notes payable/ 55.6 39.6 short-term debt equipment Goodwill 62 42.9 3.0 144.0 66.2 62.1 109.7 91.5 116.8 99.6 (54.5) 238 2 600 Current maturities of long-term debt Other current liabilities Total current liabilities Long-Term Liabilites Long-term debt Capital lease obligations (52.5) Deferred taxes 200.7 Other long-term liabilities 2006 86.9 9.3 40.1 6.0 142.3 237,8 22.8 2005 73.5 9.6 36.9 12.0 132.0 168.9 222

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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is: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $70,720 $47,940 Accounts receivable (net) 207,230 188,190 Inventories 298,520 289,850 Investments 0 102,000 Land 295,800 0 Equipment 438,600 358,020 Accumulated depreciation—equipment (99,110) (84,320) Total assets $1,211,760 $901,680 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $205,700 $194,140 Accrued expenses payable (operating expenses) 30,600 26,860 Dividends payable 25,500 20,400 Common stock, $1 par 202,000 102,000 Paid-in capital: Excess of issue price over par—common stock 354,000 204,000 Retained earnings 393,960 354,280 Total liabilities and stockholders' equity $1,211,760 $901,680 The income statement for the year ended December 31, 20Y9, is as follows: Sales $2,023,898 Cost of goods sold 1,245,476 Gross profit $778,422 Operating…
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