Current Assets Contributed Capital Current Liabilities Investments Intangible Assets Long-Term Liabilities Property, Plant, & Equipment Retained Earnings Additional Information: Stockholders' Equity increased $10 Dividends paid $4 Expenses $8 Beginning Balance 20 14 5 8 4 7 ? 24 Find: ➤ Property, Plant, & Equipment Beginning Balance ➤ Retained Earnings Ending Balance ➤ Long-term Liabilities Ending Balance ➤ Revenues Ending Balance 25 15 5 10 5 ? 20 ?

Current Assets Contributed Capital Current Liabilities Investments Intangible Assets Long-Term Liabilities Property, Plant, & Equipment Retained Earnings Additional Information: Stockholders' Equity increased $10 Dividends paid $4 Expenses $8 Beginning Balance 20 14 5 8 4 7 ? 24 Find: ➤ Property, Plant, & Equipment Beginning Balance ➤ Retained Earnings Ending Balance ➤ Long-term Liabilities Ending Balance ➤ Revenues Ending Balance 25 15 5 10 5 ? 20 ?

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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Comparative Balance Sheet Ending Beginning Balance Balance Assets: Current assets: Cash and cash equivalents $ 42 $ 43 Accounts receivable 75 74 Inventory 54 52 Total current assets 171 169 Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment 612 515 243 276 369 239 Total assets $ 540 $ 408 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 49 $ 53 Accrued liabilities 26 25 Income taxes payable 54 58 Total current liabilities 129 136 Bonds payable 61 55 Total liabilities 190 191 Stockholders' equity: Common stock 36 35 Retained earnings Total stockholders' equity 314 182 350 217 Total liabilities and stockholders' equity $ 540 $ 408