Clark and Company Inc. Consolidated Balance Sheet December 31, 2015 Assets Current assets: Cash.. Investment securities.. Accounts and notes receivable. $ 24,250 (a) *... $ (b) 7,851 121,664 197,682 Allowance for doubtful accounts and notes receivable ........ Inventories.. A*... Other current assets.. w...... *..... 14.227 Total current assets ...***....... Noncurrent assets: Property, plant, and equipment... Accumulated depreciation.... Other noncurrent assets... $694,604 ....... ............. (d) $398,832 13,217 ............ Total noncurrent assets 412,049 $792,514 .......... Total assets Liabilities and Owners' Equity Current liabilities: $ (e) Accounts payable. Payable to banks.. Income taves payable Current installments of long-term debt. Accrued expenses.. Total current liabilities... ......... 34,236 ............... 9,211 ...... ........ 6,341 ............. 7,100 ........... .............. ........*... Noncurrent liabilities: $ (9) Long-term debt. Deferred income tax liability.. Minority interest in subsidiaries. Total noncurrent liabilities.. Total liabilities.. ............. 41,218 ...... 4,201 ............. 205,410 $350,782 .............. ...**.*. Contributed capitat Preferred stock, no par value (authorized 1,618 shares issued 1,115 shares). $ 12392 Common stock, $1 par value per share (authorized 60,000 shares; issued 21,842 shares).. Additional paid-in capital... Total contributed capital.. Retained earmings... Total contributed capital and retained earnings. Less: Treasury stock, at cost (1,229 shares).. Total owners' equity.. Total liabilities and owners' equity.. 390,625 27,038 (m) (n)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

thank you tutor

reisBN=97812B539
Print Prevew
Clark and Company Inc.
Consolidated Balance Sheet
December 31, 2015
Assets
Current assets:
$ 24,250
(a)
Cash..
Investment securities.
Accounts and notes receivable
Allowance for doubtful accounts and notes receivable
Inventories.
$ (b)
7,851 121,664
197,682
.
....**..
Other current assets.
Total current assets
Noncurrent assets
Property, plant, and equipment.
Accumulated depreciation
Other noncurrent assets...
14,227
(c)
$694,604
(d) $398,832
13,217
.......
Total noncurrent assets.
412,049
$792,514
*......
Total assets.
*.....
Liabilities and Owners' Equity
Current liabilities:
Accounts payable
Payable to banks
Income taxes payable
Current installments of long-term debt.
Accrued expenses..
Total current liabilities..
$ (e)
34,236
9,211
6,341
wwww
7,100
(0
Noncurrent liabilities:
Long-term debe
Deferred income tax liability.
Minority interest in subsidiaries
Total noncurrent liabilities.
Total liabilities...
$ (0)
.....*.
41,218
4,201
....
205,410
$350,782
.....
Contributed capitat
Preferred stock, no par value (authorized
1,618 shares issued 1,115 shares).
$ 12.392
Common stock, $1 par value per share
(authorized 60,000 shares: issued 21,842 shares).
Additional paid-in capital...
Total contributed capital..
Retained eamings....
Total contributed capital and retained earnings
390,625
Less: Treasury stock, at cost (1,229 shares)..
Total owners' equity-
Total liabilities and owners' equity..
27,038
(m)
(n)
*
Transcribed Image Text:reisBN=97812B539 Print Prevew Clark and Company Inc. Consolidated Balance Sheet December 31, 2015 Assets Current assets: $ 24,250 (a) Cash.. Investment securities. Accounts and notes receivable Allowance for doubtful accounts and notes receivable Inventories. $ (b) 7,851 121,664 197,682 . ....**.. Other current assets. Total current assets Noncurrent assets Property, plant, and equipment. Accumulated depreciation Other noncurrent assets... 14,227 (c) $694,604 (d) $398,832 13,217 ....... Total noncurrent assets. 412,049 $792,514 *...... Total assets. *..... Liabilities and Owners' Equity Current liabilities: Accounts payable Payable to banks Income taxes payable Current installments of long-term debt. Accrued expenses.. Total current liabilities.. $ (e) 34,236 9,211 6,341 wwww 7,100 (0 Noncurrent liabilities: Long-term debe Deferred income tax liability. Minority interest in subsidiaries Total noncurrent liabilities. Total liabilities... $ (0) .....*. 41,218 4,201 .... 205,410 $350,782 ..... Contributed capitat Preferred stock, no par value (authorized 1,618 shares issued 1,115 shares). $ 12.392 Common stock, $1 par value per share (authorized 60,000 shares: issued 21,842 shares). Additional paid-in capital... Total contributed capital.. Retained eamings.... Total contributed capital and retained earnings 390,625 Less: Treasury stock, at cost (1,229 shares).. Total owners' equity- Total liabilities and owners' equity.. 27,038 (m) (n) *
Balance Sheet Relationships
LO1 - Describe the specific elements of the balance sheet (assets, liabilities,
and owners' equity), and prepare a balance sheet with assets and liabilities
properly classified into current and noncurrent categories.
On the Clark and Company Inc. balance
sheet, indicate the amount that should
appear for each of the items (a) through (n)
on the balance sheet.
5694601
Transcribed Image Text:Balance Sheet Relationships LO1 - Describe the specific elements of the balance sheet (assets, liabilities, and owners' equity), and prepare a balance sheet with assets and liabilities properly classified into current and noncurrent categories. On the Clark and Company Inc. balance sheet, indicate the amount that should appear for each of the items (a) through (n) on the balance sheet. 5694601
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

Blurred answer
Knowledge Booster
Money Management and Achieving Financial Goals
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education