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Computing Missing Amounts on a Classified Balance Sheet The consolidated balance sheet of Mutron Lock Inc. follows. For each of the missing items a through m, determine the balances that appear on the complete balance sheet. • Do not use negative signs with any of your answers. Assets Current assets Cash and cash equivalents. Marketable securities Accounts receivable Allowance for doubtful accounts Inventories Prepaid expenses Total current assets. Property, plant, and equipment Land Building Equipment and machinery Less: Accumulated depreciation Total property, plant, and equipment Investments Other assets Total assets b. d. $215,155 0x 17,475 x 273,654 145,145 a. C. $14,273 0 x 206,389 282,454 12,463 0 x Consolidated Balance Sheet As of December 31 Liabilities and Stockholders' Equity Current liabilities Accounts payable Notes payable Income taxes payable Current portion of long-term debt Accrued expenses Total current liabilities Long-term debt Deferred income taxes Pension liability Total liabilities e. Stockholders' equity Preferred stock, no par value (authorized 14,000 shares, issued 3,360 shares) h. 365,478 Common stock, $5 par value (authorized 560,000 shares, issued 28,000 shares) i. 20,822 Additional paid-in capital 11,096 Total contributed capital $926,484 Retained earnings Appropriated Unappropriated Total retained earnings and contributed capital Less treasury stock (4,789 shares) Total stockholders' equity Total liabilities and stockholders' equity k. $119,666 0x 8,989 6,850 7,916 0x 0x 103,215 35,000 0x f. g. 1. m. $ $155.068 170,806 0x 49,190 0x 0x 254,059 0x 30,533 486,735 0x

Computing Missing Amounts on a Classified Balance Sheet The consolidated balance sheet of Mutron Lock Inc. follows. For each of the missing items a through m, determine the balances that appear on the complete balance sheet. • Do not use negative signs with any of your answers. Assets Current assets Cash and cash equivalents. Marketable securities Accounts receivable Allowance for doubtful accounts Inventories Prepaid expenses Total current assets. Property, plant, and equipment Land Building Equipment and machinery Less: Accumulated depreciation Total property, plant, and equipment Investments Other assets Total assets b. d. $215,155 0x 17,475 x 273,654 145,145 a. C. $14,273 0 x 206,389 282,454 12,463 0 x Consolidated Balance Sheet As of December 31 Liabilities and Stockholders' Equity Current liabilities Accounts payable Notes payable Income taxes payable Current portion of long-term debt Accrued expenses Total current liabilities Long-term debt Deferred income taxes Pension liability Total liabilities e. Stockholders' equity Preferred stock, no par value (authorized 14,000 shares, issued 3,360 shares) h. 365,478 Common stock, $5 par value (authorized 560,000 shares, issued 28,000 shares) i. 20,822 Additional paid-in capital 11,096 Total contributed capital $926,484 Retained earnings Appropriated Unappropriated Total retained earnings and contributed capital Less treasury stock (4,789 shares) Total stockholders' equity Total liabilities and stockholders' equity k. $119,666 0x 8,989 6,850 7,916 0x 0x 103,215 35,000 0x f. g. 1. m. $ $155.068 170,806 0x 49,190 0x 0x 254,059 0x 30,533 486,735 0x

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Computing Missing Amounts on a Classified Balance Sheet The consolidated balance sheet of Mutron Lock Inc. follows. For each of the missing items a through m, determine the balances that appear on the complete balance sheet. Do not use negative signs with any of your answers. Assets Current assets Cash and cash equivalents Marketable securities Accounts receivable Allowance for doubtful accounts Inventories Prepaid expenses Total current assets Property, plant, and equipment Land Building Equipment and machinery Less: Accumulated depreciation Total property, plant, and equipment Investments Other assets Total assets b. d. $215,155 0 x 17,475 X 273,654 145,145 a. C. $14,273 0 x 206,389 282,454 12,463 Consolidated Balance Sheet As of December 31 Liabilities and Stockholders' Equity Current liabilities Accounts payable Notes payable Income taxes payable Current portion of long-term debt Accrued expenses Total current liabilities 0 Long-term debt Deferred income taxes Pension liability Total liabilities e. Stockholders' equity Preferred stock, no par value (authorized 14,000 shares, issued 3,360 shares) h. 365,478 Common stock, $5 par value (authorized 560,000 shares, issued 28,000 shares) i. 20,822 Additional paid-in capital 11,096 Total contributed capital $926,484 Retained earnings Appropriated Unappropriated Total retained earnings and contributed capital Less treasury stock (4,789 shares) Total stockholders' equity Total liabilities and stockholders' equity k. $119,666 0 x 8,989 6,850 7,916 0 x 0 x 103,215 35,000 0 x f. g. 1. m. $ $155,068 170,806 0 x 49,190 0 x 0 x 254,059 0 x 30,533 486,735 0 x
Transcribed Image Text:Computing Missing Amounts on a Classified Balance Sheet The consolidated balance sheet of Mutron Lock Inc. follows. For each of the missing items a through m, determine the balances that appear on the complete balance sheet. Do not use negative signs with any of your answers. Assets Current assets Cash and cash equivalents Marketable securities Accounts receivable Allowance for doubtful accounts Inventories Prepaid expenses Total current assets Property, plant, and equipment Land Building Equipment and machinery Less: Accumulated depreciation Total property, plant, and equipment Investments Other assets Total assets b. d. $215,155 0 x 17,475 X 273,654 145,145 a. C. $14,273 0 x 206,389 282,454 12,463 Consolidated Balance Sheet As of December 31 Liabilities and Stockholders' Equity Current liabilities Accounts payable Notes payable Income taxes payable Current portion of long-term debt Accrued expenses Total current liabilities 0 Long-term debt Deferred income taxes Pension liability Total liabilities e. Stockholders' equity Preferred stock, no par value (authorized 14,000 shares, issued 3,360 shares) h. 365,478 Common stock, $5 par value (authorized 560,000 shares, issued 28,000 shares) i. 20,822 Additional paid-in capital 11,096 Total contributed capital $926,484 Retained earnings Appropriated Unappropriated Total retained earnings and contributed capital Less treasury stock (4,789 shares) Total stockholders' equity Total liabilities and stockholders' equity k. $119,666 0 x 8,989 6,850 7,916 0 x 0 x 103,215 35,000 0 x f. g. 1. m. $ $155,068 170,806 0 x 49,190 0 x 0 x 254,059 0 x 30,533 486,735 0 x
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