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Given the following information, construct the firm’s balance sheet:   Cash and cash equivalents $ 390,000 Accumulated depreciation on plant and equipment   920,000 Plant and equipment   4,230,000 Accrued wages   440,000 Long-term debt   3,060,000 Inventory   7,200,000 Accounts receivable   3,960,000 Preferred stock   560,000 Retained earnings   7,640,000 Land   2,820,000 Accounts payable   2,800,000 Taxes due   180,000 Common stock $ 15 par Common shares outstanding   182,000 Current portion of long-term debt $ 270,000   Round your answers to the nearest dollar.

Given the following information, construct the firm’s balance sheet:   Cash and cash equivalents $ 390,000 Accumulated depreciation on plant and equipment   920,000 Plant and equipment   4,230,000 Accrued wages   440,000 Long-term debt   3,060,000 Inventory   7,200,000 Accounts receivable   3,960,000 Preferred stock   560,000 Retained earnings   7,640,000 Land   2,820,000 Accounts payable   2,800,000 Taxes due   180,000 Common stock $ 15 par Common shares outstanding   182,000 Current portion of long-term debt $ 270,000   Round your answers to the nearest dollar.

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Problem 9-02

Given the following information, construct the firm’s balance sheet:

 

Cash and cash equivalents $ 390,000
Accumulated depreciation on plant and equipment   920,000
Plant and equipment   4,230,000
Accrued wages   440,000
Long-term debt   3,060,000
Inventory   7,200,000
Accounts receivable   3,960,000
Preferred stock   560,000
Retained earnings   7,640,000
Land   2,820,000
Accounts payable   2,800,000
Taxes due   180,000
Common stock $ 15 par
Common shares outstanding   182,000
Current portion of long-term debt $ 270,000

 

Round your answers to the nearest dollar.

 

Corporation X
Balance Sheet as of XX/XX/XX
Assets   Liabilities and Owners' Equity
Cash and cash equivalents $      Accounts payable $   
Accounts receivable        Taxes due     
Inventory        Accrued wages     
 Total current assets $      Current portion of long-term debt $   
Land         Total current liabilities     
Plant and equipment        Long-term debt     
        Preferred stock     
        Common stock     
        Retained earnings     
         Total shareholders’ equity     
 Total assets $       Total liabilities and shareholders’ equity $   
 

 
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Balance sheet: Balance sheet provides information about assets, liabilities and equity amount of a company at a particular date.

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