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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)

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: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter1: Accounting As A Form Of Communication
Section: Chapter Questions
Problem 1.3P
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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
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