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Next Level Prepare the correct balance sheet. All the necessary information is provided. (Hint: It is not necessary to calculate your answers in alphabetical order)

Next Level Prepare the correct balance sheet. All the necessary information is provided. (Hint: It is not necessary to calculate your answers in alphabetical order)

FINANCIAL ACCOUNTING
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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Balance Sheet Calculations. Fermer Company's balance sheet information at the end of 2019 and 2020 is as follows: 2019 Total shareholders' equity Accumulated other comprehensive income Current liabilities Intangible assets Property, plant, and equipment (net) Current assets Total contributed capital Long-term liabilities Retained earnings Total assets Common stock, $10 par Working capital Additional paid-in capital Long-term Investments Total liabilities Current accets Cong-term investments Property, plant, and equipment (net) Intangible assets ✓ Total assets $ (a) 4,800 (b) 12,600 (c) Current abilities Long-term abilities Total liabilities Common stock 10 par Additional paid-in capital Total contributed capital Retained earnings -V Accumulated other comprehensive income 18,000 51,000 (d) Total shareholders equity Total liabilities and shareholderslequity 40,900 (e) (1) 9,900 (0) (m) (n) Additional information: At the end of 2019, additional paid-in capital is twice the amount of common stock. In 2020, the company issued (sold) 200 shares of common stock. Required: Next Level Prepare the correct balance sheet. All the necessary information is provided. (Hint: It is not necessary to calculate your answers in alphabetical order) FERMER COMPANY ✓ 23,700 38,100 2020 $100,700 5,000 9,800 12,000 87,500 Additional information: At the end of 2019, additional paid in capital is twice the amount of common stock. In 2020, the company issued (sald) 200 shares of common stock. Required: Next Level Prepare the correct balance sheet. All the necessary information is provided. (ne: It is not necessary to calculate your answers in alphabetical order.) FERMER COMPANY Balance Sheet December 31 30,200 S (k) (1) 9,200 38,000 2019 10,000 X 23.700 8100 10.000 82.500 X 12,600 ✓ 116.000 X 17,000 34.000 (h) (1) 38.100✔ $1.000 ✓ X 42900 4.000 90.750 X 156.000 X S 2020 19,500 21,700 87.500 12,000 140700 9000 30.200 40.000 18.000 36,000 X 54.000 X 41.700 X 5.000 200700 140.700
Transcribed Image Text:Balance Sheet Calculations. Fermer Company's balance sheet information at the end of 2019 and 2020 is as follows: 2019 Total shareholders' equity Accumulated other comprehensive income Current liabilities Intangible assets Property, plant, and equipment (net) Current assets Total contributed capital Long-term liabilities Retained earnings Total assets Common stock, $10 par Working capital Additional paid-in capital Long-term Investments Total liabilities Current accets Cong-term investments Property, plant, and equipment (net) Intangible assets ✓ Total assets $ (a) 4,800 (b) 12,600 (c) Current abilities Long-term abilities Total liabilities Common stock 10 par Additional paid-in capital Total contributed capital Retained earnings -V Accumulated other comprehensive income 18,000 51,000 (d) Total shareholders equity Total liabilities and shareholderslequity 40,900 (e) (1) 9,900 (0) (m) (n) Additional information: At the end of 2019, additional paid-in capital is twice the amount of common stock. In 2020, the company issued (sold) 200 shares of common stock. Required: Next Level Prepare the correct balance sheet. All the necessary information is provided. (Hint: It is not necessary to calculate your answers in alphabetical order) FERMER COMPANY ✓ 23,700 38,100 2020 $100,700 5,000 9,800 12,000 87,500 Additional information: At the end of 2019, additional paid in capital is twice the amount of common stock. In 2020, the company issued (sald) 200 shares of common stock. Required: Next Level Prepare the correct balance sheet. All the necessary information is provided. (ne: It is not necessary to calculate your answers in alphabetical order.) FERMER COMPANY Balance Sheet December 31 30,200 S (k) (1) 9,200 38,000 2019 10,000 X 23.700 8100 10.000 82.500 X 12,600 ✓ 116.000 X 17,000 34.000 (h) (1) 38.100✔ $1.000 ✓ X 42900 4.000 90.750 X 156.000 X S 2020 19,500 21,700 87.500 12,000 140700 9000 30.200 40.000 18.000 36,000 X 54.000 X 41.700 X 5.000 200700 140.700
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