Birtle Corporation reports the following statement of financial position Information for 2017 and 2018. Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current assets Cash Assets Assets Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current liabilities Accounts payable Notes payable $ 9,279 23,683 42,636 $ 75,598 2017 $272,047 $347,645 Liabilities and Owners' Equity Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total BIRTLE CORPORATION 2017 and 2018 statement of Financial Position Total liabilities and owners' equity 2018 $ 11,173 25,760 46,915 $ 83,848 Prepare the 2017 common-base year statement of financial position for Birtle. (Round the final answers to 3 decimal places.) 2018 $297,967 $381,815 2017 $ 9,279 23,683 42,636 $ 75,598 $272,047 $347,645 $ 41,060 16,157 $ 57,217 $ 40,000 Current liabilities Accounts payable Notes payable $ 50,000 200,428 $250,428 $347,645 Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity $ 11,173 25,760 46,915 $ 83,848 $297,967 $381,815 $ 43,805 16,843 Liabilities and Owners' Equity $ 60,648 $ 35,000 $ 50,000 236,167 $286, 167 $381,815 19.60 9.10 9.70 10.90 9.90 9.40 6.20 4.30 6.10 -12.50 0.00 17.50 2017 9.40 $ 41,060 16,157 $ 57,217 $ 40,000 $ 50,000 200,428 $250,428 $347,645 2018 $ 43,805 16,843 $ 60,648 $ 35,000 $ 50,000 236,167 $286,167 $381,815

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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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Problem 3-15 Preparing Standardized Financial Statements (LO2)
Birtle Corporation reports the following statement of financial position information for 2017 and 2018.
Current assets
Cash
Accounts receivable
Inventory
Total
Fixed assets
Net plant and equipment
Total assets
Current assets
Cash
Assets
Assets
Accounts receivable
Inventory
Total
Fixed assets
Net plant and equipment
Total assets
2017
$ 9,279
23,683
42,636
$ 75,598
$272,047
$347,645
Liabilities and Owners' Equity
Current liabilities
Accounts payable
Notes payable
Total
Long-term debt
Owners' equity
Common stock and paid-in surplus
Accumulated retained earnings
Total
BIRTLE CORPORATION
2017 and 2018 statement of Financial Position
Total liabilities and owners' equity
2018
$ 11,173
25,760
46,915
$ 83,848
$297,967
$381,815
Prepare the 2017 common-base year statement of financial position for Birtle. (Round the final answers to 3 decimal places.)
2017
$ 9,279
23,683
42,636
$ 75,598
$272,847
$347,645
$ 41,060
16, 157
$ 57,217
$ 40,000
Current liabilities
Accounts payable
Notes payable
$ 50,000
200,428
$250,428
$347,645
Total
Long-term debt
Owners' equity
Common stock and paid-in surplus
Retained earnings
Total
Total liabilities and owners' equity
2018
$ 11,173
25,760
46,915
$ 83,848
$297,967
$381,815
Liabilities and Owners' Equity
$ 43,805
16,843
$ 60,648
$ 35,000
$ 50,000
236, 167
$286,167
$381,815
19.60
9.10
9.70
10.90
9.90
9.40
6.20
4.30
6.10
-12.50
0.00
17.50
2017
9.40
$ 41,060
16,157
$ 57,217
$ 40,000
$ 50,000
200,428
$250,428
$347,645
2018
$ 43,805
16,843
$ 60,648
$ 35,000
$ 50,000
236,167
$286,167
$381,815
Transcribed Image Text:Problem 3-15 Preparing Standardized Financial Statements (LO2) Birtle Corporation reports the following statement of financial position information for 2017 and 2018. Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current assets Cash Assets Assets Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets 2017 $ 9,279 23,683 42,636 $ 75,598 $272,047 $347,645 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total BIRTLE CORPORATION 2017 and 2018 statement of Financial Position Total liabilities and owners' equity 2018 $ 11,173 25,760 46,915 $ 83,848 $297,967 $381,815 Prepare the 2017 common-base year statement of financial position for Birtle. (Round the final answers to 3 decimal places.) 2017 $ 9,279 23,683 42,636 $ 75,598 $272,847 $347,645 $ 41,060 16, 157 $ 57,217 $ 40,000 Current liabilities Accounts payable Notes payable $ 50,000 200,428 $250,428 $347,645 Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity 2018 $ 11,173 25,760 46,915 $ 83,848 $297,967 $381,815 Liabilities and Owners' Equity $ 43,805 16,843 $ 60,648 $ 35,000 $ 50,000 236, 167 $286,167 $381,815 19.60 9.10 9.70 10.90 9.90 9.40 6.20 4.30 6.10 -12.50 0.00 17.50 2017 9.40 $ 41,060 16,157 $ 57,217 $ 40,000 $ 50,000 200,428 $250,428 $347,645 2018 $ 43,805 16,843 $ 60,648 $ 35,000 $ 50,000 236,167 $286,167 $381,815
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