Complete the missing balance sheet entries for Travers & Co.'s balance sheets for the years ending 2004 and 2005 based on the following statements:< BUDE IВHI• Travers issued $30 million of new common stock.• Travers had net income available to common shareholders of $77 million during 2005. At the end of 2005, Travers paid out $61million in common dividends.• Travers neither issued nor retired long-term debt during 2005.• In 2005, Travers had cash flows from operating activities of $147 million, cash flow from investing activities of -$80 million, and cashflow from financing activities of -$16 million.BALANCE SHEET(Millions of dollars)CashAccounts receivableInventoriesTotal current assetsNet fixed assetsTotal assetsYr 2A170190B$ 280HYr 1$ 10140210$360$ 250$ 610Accounts payableNotes payableAccrued liabilitiesTotal current liabilitiesLong-term debtTotal liabilitiesPreferred stockCommon stockRetained earningsTotal common equityTotal liabilities and equityYr 2$ 1186762$ 247сDEFGIYr 1$ 1005250$ 202150$ 35250208$ 258$ 610

Balance sheet :— It is one of the financial statements that shows a list of final ending balances of…

Answered: Complete the missing balance sheet…

Complete the missing balance sheet entries for Travers & Co.'s balance sheets for the years ending 2004 and 2005 based on the following statements:

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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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

100%

Complete the missing balance sheet entries for Travers & Co.'s balance sheets for the years ending 2004 and 2005 based on the following statements:
< BUDE I
В
H
I
• Travers issued $30 million of new common stock.
• Travers had net income available to common shareholders of $77 million during 2005. At the end of 2005, Travers paid out $61
million in common dividends.
• Travers neither issued nor retired long-term debt during 2005.
• In 2005, Travers had cash flows from operating activities of $147 million, cash flow from investing activities of -$80 million, and cash
flow from financing activities of -$16 million.
BALANCE SHEET
(Millions of dollars)
Cash
Accounts receivable
Inventories
Total current assets
Net fixed assets
Total assets
Yr 2
A
170
190
B
$ 280
H
Yr 1
$ 10
140
210
$360
$ 250
$ 610
Accounts payable
Notes payable
Accrued liabilities
Total current liabilities
Long-term debt
Total liabilities
Preferred stock
Common stock
Retained earnings
Total common equity
Total liabilities and equity
Yr 2
$ 118
67
62
$ 247
с
D
E
F
G
I
Yr 1
$ 100
52
50
$ 202
150
$ 352
50
208
$ 258
$ 610

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