nation of Montana, Inc. hability no effock profitability) The following accounts and related balances of Pelican Designers, Inc oning December 31, 20X6, are arranged in no particular order. P10-82A. (Learning Objectives 3, 6: Preparing a corporation's Balance Sheet; measuring Interest expense.. $ 15,600 $55,000 000'tE Property, plant and Cash.. ... Accounts receivable, net..... Paid-in capital in excess of par-ordinary. Accrued liabilities... equipment, net. 000'07 Ordinary share, $2 par, 364,000 ...... 600,000 shares authorized, 000' 000'66 000'£6 Prepaid expenses. 000'9 Ørdinary shareholders' equity, December 31, 20X6.. 116,000 shares issued... Long-term note payable. Inventory. Dividends payable. Retained earnings... 23200 Accounts payable. 2650 Trademarks, net.. Preference share, $0.50, dicīdend no-par, 11,000 shares authorized and issued.. 000' 222,000 32,000 ***.......... Net income.. Total assets, 136,000 4,000 December 31, 20X6. 493,000 ............... Treasury share, 21,000 shares at cost...... 29,700 Goodwill. 000 000 310X Requirements / 1. Prepare Pelican's classified Balance Sheet in the account format at December 31, 20X6. 22. Compute rate of return on ordinary shareholders' equity for the year ended December 31, 20X6. 3. Does the ROE suggest strength or weakness? Give your reason.
nation of Montana, Inc. hability no effock profitability) The following accounts and related balances of Pelican Designers, Inc oning December 31, 20X6, are arranged in no particular order. P10-82A. (Learning Objectives 3, 6: Preparing a corporation's Balance Sheet; measuring Interest expense.. $ 15,600 $55,000 000'tE Property, plant and Cash.. ... Accounts receivable, net..... Paid-in capital in excess of par-ordinary. Accrued liabilities... equipment, net. 000'07 Ordinary share, $2 par, 364,000 ...... 600,000 shares authorized, 000' 000'66 000'£6 Prepaid expenses. 000'9 Ørdinary shareholders' equity, December 31, 20X6.. 116,000 shares issued... Long-term note payable. Inventory. Dividends payable. Retained earnings... 23200 Accounts payable. 2650 Trademarks, net.. Preference share, $0.50, dicīdend no-par, 11,000 shares authorized and issued.. 000' 222,000 32,000 ***.......... Net income.. Total assets, 136,000 4,000 December 31, 20X6. 493,000 ............... Treasury share, 21,000 shares at cost...... 29,700 Goodwill. 000 000 310X Requirements / 1. Prepare Pelican's classified Balance Sheet in the account format at December 31, 20X6. 22. Compute rate of return on ordinary shareholders' equity for the year ended December 31, 20X6. 3. Does the ROE suggest strength or weakness? Give your reason.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 2: why the ending equity is 222000
Transcribed Image Text:P10-82A. 3, 6: a measuring
share. In
1. Analyze each tram
nation of Montana, Inc.
equity Therease 415500
ho effoct
profitability) The following accounts and related balances or Pelican Designers, Inc a6 e
December 31, 20X6, are arranged in no particular order.
LO 3 6
Interest expense.
$ 15,600
$55,000
34,000
Property, plant and
equipment, net
Ordinary share, $2 par,
600,000 shares authorized,
......******ys
Accounts receivable, net.
Paid-in capital in excess
of par-ordinary
000
20,000
24,000
Accrued liabilities.
Long-term note payable
Inventory..
000'66
116,000 shares issued...
Prepaid expenses .....
000
000
93,000
Dividends payable .
Retained earnings.
nh00 0- 24700 237000 Accounts payable.
24000-2000026310 Trademarks, net.m
000'9
Ørdinary shareholders'
equity, December 31, 20X6..
Net income.
Rec
000'
000
Total assets,
32,000
1.
2.
Preference share, $0.5o, dividend
no-par, 11,000 shares
authorized and issued.
December 31, 20X6
493,000
Treasury share,
49,700
21,000 shares at cost
Goodwill.
0000
Bai
000
Ha
wi-
Requirements
20
th
1. Prepare Pelican's classified Balance Sheet in the account format at December 31, 20X6.
22. Compute rate of return on ordinary shareholders' equity for the year ended December 31,
3. Does the ROE suggest strength or weakness? Give your reason.
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