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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 Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Assets Current liabilities Accounts payable Notes payable 2017 $272,847 $ 9,279 23,683 42,636 $ 75,598 $83,848 BIRTLE CORPORATION 2017 and 2018 Statement of Financial Position Assets 2018 $ 11,173 25,760 46,915 $347,645 $381,815 Total Long-term debt Owner's equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity $297,967 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Prepare the 2018 combined common-size, common-base year statement of financial position for Birtle. (Do not round intermediate calculations. Round the final answers to 3 decimal places.) Total liabilities and owners' equity 2017 $ 9,279 23,683 42,636 $ 75,598 Liabilities and Owners' Equity $272,047 $347,645 $ 41,060 16,157 $ 57,217 $ 40,000 $ 50,000 200,428 $250,428 $347,645 2018 $ 11,173 25,760 46,915 $ 83,848 $297,967 $381,815 $ 43,805 16,843 $ 60,648 $ 35,000 2017 $ 41,060 16,157 $ 50,000 236,167 $286,167 $381,815 $ 57,217 $ 40,000 2018 $ 43,805 16,843 $ 60,648 $ 35,000 $ 50,000 $ 50,000 200,428 236,167 $250,428 $286,167 $381,815 $347,645

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 Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Assets Current liabilities Accounts payable Notes payable 2017 $272,847 $ 9,279 23,683 42,636 $ 75,598 $83,848 BIRTLE CORPORATION 2017 and 2018 Statement of Financial Position Assets 2018 $ 11,173 25,760 46,915 $347,645 $381,815 Total Long-term debt Owner's equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity $297,967 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Prepare the 2018 combined common-size, common-base year statement of financial position for Birtle. (Do not round intermediate calculations. Round the final answers to 3 decimal places.) Total liabilities and owners' equity 2017 $ 9,279 23,683 42,636 $ 75,598 Liabilities and Owners' Equity $272,047 $347,645 $ 41,060 16,157 $ 57,217 $ 40,000 $ 50,000 200,428 $250,428 $347,645 2018 $ 11,173 25,760 46,915 $ 83,848 $297,967 $381,815 $ 43,805 16,843 $ 60,648 $ 35,000 2017 $ 41,060 16,157 $ 50,000 236,167 $286,167 $381,815 $ 57,217 $ 40,000 2018 $ 43,805 16,843 $ 60,648 $ 35,000 $ 50,000 $ 50,000 200,428 236,167 $250,428 $286,167 $381,815 $347,645

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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Birtle Corporation reports the following statement of financial position Information for 2017 and 2018. BIRTLE CORPORATION 2017 and 2018 Statement of Financial Position Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Assets Current liabilities Accounts payable Notes payable 2018 $11,173) 25,760 46,915 $ 75,598 $ 83,848 $ 9,279 23,683 42,636 Prepare the 2018 combined comm ze, mm calculations. Round the final answers to 3 decimal places.) Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total 2017 $272,847 $347,645 Assets $297,967 Total liabilities and owners' equity $381,815 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus. Retained earnings Total liabilities and owners' equity year statem Total 2017 $ 9,279 23,683 42,636 $ 75,598 $272,847 $347,645 Liabilities and Owners' Equity $ 41,060 16,157 $ 57,217 $ 40,000 $ 50,000 200,428 $250,428 $347,645 2018 f financial position for Birtle. (Do not round Intermediate $ 11,173 25,760 46,915 $83,848 $297,967 $381,815 $ 43,805 16,843 $ 60,648 $ 35,000 2017 $ 50,000 236,167 $286,167 $381,815 $ 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:Birtle Corporation reports the following statement of financial position Information for 2017 and 2018. BIRTLE CORPORATION 2017 and 2018 Statement of Financial Position Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Assets Current liabilities Accounts payable Notes payable 2018 $11,173) 25,760 46,915 $ 75,598 $ 83,848 $ 9,279 23,683 42,636 Prepare the 2018 combined comm ze, mm calculations. Round the final answers to 3 decimal places.) Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total 2017 $272,847 $347,645 Assets $297,967 Total liabilities and owners' equity $381,815 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus. Retained earnings Total liabilities and owners' equity year statem Total 2017 $ 9,279 23,683 42,636 $ 75,598 $272,847 $347,645 Liabilities and Owners' Equity $ 41,060 16,157 $ 57,217 $ 40,000 $ 50,000 200,428 $250,428 $347,645 2018 f financial position for Birtle. (Do not round Intermediate $ 11,173 25,760 46,915 $83,848 $297,967 $381,815 $ 43,805 16,843 $ 60,648 $ 35,000 2017 $ 50,000 236,167 $286,167 $381,815 $ 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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