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Balance Sheet Calculations Fermer Company's balance sheet information at the end of 2019 and 2020 is as follows: 2020 $100,700 5,000 9,800 12,000 87,500 (h) (1) 30,200 (i) (k) Common stock, $10 par (1) Working capital 9,200 Additional paid-in capital 38,000 Long-term investments (m) Total liabilities (n) Additional information: At the end of 2019, additional paid-in capital is twice the amount of common stock. In 2020, the company issued (sold) 200 shares of common stock. Required: Total shareholders' equity Accumulated other comprehensive income Current liabilities Intangible assets Property, plant, and equipment (net) Current assets Total contributed capital Long-term liabilities Retained earnings Total assets 2019 $ (a) 4,800 (b) 12,600 (c) 19,000 51,000 (d) 40,900 (e) (f) 9,900 (9) 23,700 38,100 Next Level Prepare the correct balance sheet. All the necessary information is provided. (Hint: It is not necessary to calculate your answers in alphabetical order.) FERMER COMPANY Balance Shoot

Balance Sheet Calculations Fermer Company's balance sheet information at the end of 2019 and 2020 is as follows: 2020 $100,700 5,000 9,800 12,000 87,500 (h) (1) 30,200 (i) (k) Common stock, $10 par (1) Working capital 9,200 Additional paid-in capital 38,000 Long-term investments (m) Total liabilities (n) Additional information: At the end of 2019, additional paid-in capital is twice the amount of common stock. In 2020, the company issued (sold) 200 shares of common stock. Required: Total shareholders' equity Accumulated other comprehensive income Current liabilities Intangible assets Property, plant, and equipment (net) Current assets Total contributed capital Long-term liabilities Retained earnings Total assets 2019 $ (a) 4,800 (b) 12,600 (c) 19,000 51,000 (d) 40,900 (e) (f) 9,900 (9) 23,700 38,100 Next Level Prepare the correct balance sheet. All the necessary information is provided. (Hint: It is not necessary to calculate your answers in alphabetical order.) FERMER COMPANY Balance Shoot

FINANCIAL ACCOUNTING
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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38,000 Additional paid-in capital Long-term investments (m) Total liabilities (n) Additional information: At the end of 2019, additional paid-in capital is twice the amount of common stock. In 2020, the company issued (sold) 200 shares of common stock. Required: Next Level Prepare the correct balance sheet. All the necessary information is provided. (Hint: It is not necessary to calculate your answers in alphabetical order.) FERMER COMPANY Balance Sheet December 31 Accumulated other comprehensive income Long-term investments Property, plant, and equipment (net) Intangible assets Total liabilities and shareholders' equity Current liabilities Long-term liabilities Total liabilities ✓ Total liabilities ✓ Feedback Total shareholders' equity ✓ Common stock, $10 par Additional paid-in capital Total contributed capital and retained earnings Retained earnings ✓ Accumulated other comprehensive income X Assets Current assets ✓ ✓ ✓ (g) 23,700 38,100 X X ✓ X Check My Work 2 more Check My Work uses remaining. $ 2019 19,100 X 23,700 ✔ 79,400 X 12,600 ✔ 2019 134,800 ✔ 9,200 X 28,900 X 38,100 ✔ 17,000 $ 34,000 51,000 40,900 ✔ 4,800 96,700 134,800 ✔ 2020 20,000 X 21,200 X 87,500 12,000 ✓ 2020 140,700 9,800 30,200 40,000 18,000 X 36,000 X 54,000 X 41,700 X 5,000 ✓ 100,700 V Check My Work The following partially completed schedule will help you to organize the information for this exercise. You should begin by inserting the information that you have been given. 140,700 ✓ ✓
Transcribed Image Text:38,000 Additional paid-in capital Long-term investments (m) Total liabilities (n) Additional information: At the end of 2019, additional paid-in capital is twice the amount of common stock. In 2020, the company issued (sold) 200 shares of common stock. Required: Next Level Prepare the correct balance sheet. All the necessary information is provided. (Hint: It is not necessary to calculate your answers in alphabetical order.) FERMER COMPANY Balance Sheet December 31 Accumulated other comprehensive income Long-term investments Property, plant, and equipment (net) Intangible assets Total liabilities and shareholders' equity Current liabilities Long-term liabilities Total liabilities ✓ Total liabilities ✓ Feedback Total shareholders' equity ✓ Common stock, $10 par Additional paid-in capital Total contributed capital and retained earnings Retained earnings ✓ Accumulated other comprehensive income X Assets Current assets ✓ ✓ ✓ (g) 23,700 38,100 X X ✓ X Check My Work 2 more Check My Work uses remaining. $ 2019 19,100 X 23,700 ✔ 79,400 X 12,600 ✔ 2019 134,800 ✔ 9,200 X 28,900 X 38,100 ✔ 17,000 $ 34,000 51,000 40,900 ✔ 4,800 96,700 134,800 ✔ 2020 20,000 X 21,200 X 87,500 12,000 ✓ 2020 140,700 9,800 30,200 40,000 18,000 X 36,000 X 54,000 X 41,700 X 5,000 ✓ 100,700 V Check My Work The following partially completed schedule will help you to organize the information for this exercise. You should begin by inserting the information that you have been given. 140,700 ✓ ✓
Balance Sheet Calculations Fermer Company's balance sheet information at the end of 2019 and 2020 is as follows: Total shareholders' equity Accumulated other comprehensive income Current liabilities Intangible assets Property, plant, and equipment (net) Current assets Total contributed capital Long-term liabilities Retained earnings Total assets Accumulated other comprehensive income Long-term investments Property, plant, and equipment (net) Intangible assets ✓ Total liabilities and shareholders' equity (h) (i) 30,200 (i) (k) Common stock, $10 par (1) Working capital 9,200 Additional paid-in capital 38,000 Long-term investments (m) Total liabilities (n) Additional information: At the end of 2019, additional paid-in capital is twice the amount of common stock. In 2020, the company issued (sold) 200 shares of common stock. Required: Next Level Prepare the correct balance sheet. All the necessary information is provided. (Hint: It is not necessary to calculate your answers in alphabetical order.) FERMER COMPANY Balance Sheet December 31 Current liabilities Long-term liabilities otal liabilities ✓ 2019 ✓ $ (a) 4,800 (b) 12,600 (c) 19,000 51,000 (d) 40,900 (e) (f) 9,900 (9) 23,700 38,100 ✓ X 2020 $100,700 5,000 9,800 12,000 87,500 X 2019 19,100 X 23,700 ✓ 79,400 X 12,600 ✓ $ 134,800 ✓ $ 9,200 X 28,900 X 38,100 ✓ $ 2020 20,000 X 21,200 X 87,500 12,000 140,700 ✓ 9,800 ✓ 30,200 40,000
Transcribed Image Text:Balance Sheet Calculations Fermer Company's balance sheet information at the end of 2019 and 2020 is as follows: Total shareholders' equity Accumulated other comprehensive income Current liabilities Intangible assets Property, plant, and equipment (net) Current assets Total contributed capital Long-term liabilities Retained earnings Total assets Accumulated other comprehensive income Long-term investments Property, plant, and equipment (net) Intangible assets ✓ Total liabilities and shareholders' equity (h) (i) 30,200 (i) (k) Common stock, $10 par (1) Working capital 9,200 Additional paid-in capital 38,000 Long-term investments (m) Total liabilities (n) Additional information: At the end of 2019, additional paid-in capital is twice the amount of common stock. In 2020, the company issued (sold) 200 shares of common stock. Required: Next Level Prepare the correct balance sheet. All the necessary information is provided. (Hint: It is not necessary to calculate your answers in alphabetical order.) FERMER COMPANY Balance Sheet December 31 Current liabilities Long-term liabilities otal liabilities ✓ 2019 ✓ $ (a) 4,800 (b) 12,600 (c) 19,000 51,000 (d) 40,900 (e) (f) 9,900 (9) 23,700 38,100 ✓ X 2020 $100,700 5,000 9,800 12,000 87,500 X 2019 19,100 X 23,700 ✓ 79,400 X 12,600 ✓ $ 134,800 ✓ $ 9,200 X 28,900 X 38,100 ✓ $ 2020 20,000 X 21,200 X 87,500 12,000 140,700 ✓ 9,800 ✓ 30,200 40,000
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