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29 Beginning balance 30 Payments/decrease 31 Ending Balance 32 33 Accounts Payable 34 Beginning balance 35 Credit purchases 36 Payments 37 Ending balance 38 A 39 Other Current Liabilities 40 Beginning balance 41 Credit purchases 42 Payments 43 Ending balance 44 45 Beginning balance 46 Purchases 47 Ending balance 48 49 Beginning balance 50 Decrease 51 Ending balance 52 53 Beginning balance 54 Amortization 55 Ending balance 56 57 58 es $ $ Current Liabilities B 1,758,000.00 $ 953,000.00 с 805,000.00 $ 24,118,000.00 $ 4,000,000.00 $ 18,903,000.00 $ 9,215,000.00 $ 27,576,000.00 $ 6,000,000.00 $ 22,319,000.00 $ 11,257,000.00 Long-Term Investments $ 22,747,000.00 $ 14,166,000.00 $ 36,913,000.00 Goodwill $ 6,402,000.00 $ 1,693,000.00 $ 4,709,000.00 Intangible Assets (Net) $ 6,376,000.00 $ 1,680,000.00 $ 4,696,000.00 C T 2 3 4 Cash 5 Beginning balance 6 Cash payments 7 Cash receipts GENERAL LEDGER ACCOUNTS Current Assets Debit Credit $ 16,650,000.00 $ 12,034,000.00 $ 860,000,000.00 8 Ending balance $ 864,616,000.00 9 10 Short-Term Investments 11 Beginning balance $ 5,802,000.00 12 Purchase $ 4,572,000.00 13 Ending balance $ 10,374,000.00 14 15 Accounts Receivable (Net) 16 Beginning balance $ 53,704,000.00 17 Allowance for doubtful accounts $ 210,000.00 18 Credit sales $ 24,056,000.00 19 Collections $ 58,112,000.00 20 Ending balance $ 19,438,000.00 21 22 Inventories 23 Beginning balance $ 82,208,000.00 24 Purchase $ 20,000,000.00 25 Sales $ 74,684,000.00 26 Ending balance $ 27,524,000.00 27 28 Other Current Assets 29 Beginning balance 30 Payments/decrease 31 Ending Balance 32 33 Accounts Payable $ 1,758,000.00 $ 805,000.00 $ 953,000.00 Current Liabilities 34 Beginning balance $ 24,118,000.00 Balance Sheet Income Statement General Ledger Accounts

29 Beginning balance 30 Payments/decrease 31 Ending Balance 32 33 Accounts Payable 34 Beginning balance 35 Credit purchases 36 Payments 37 Ending balance 38 A 39 Other Current Liabilities 40 Beginning balance 41 Credit purchases 42 Payments 43 Ending balance 44 45 Beginning balance 46 Purchases 47 Ending balance 48 49 Beginning balance 50 Decrease 51 Ending balance 52 53 Beginning balance 54 Amortization 55 Ending balance 56 57 58 es $ $ Current Liabilities B 1,758,000.00 $ 953,000.00 с 805,000.00 $ 24,118,000.00 $ 4,000,000.00 $ 18,903,000.00 $ 9,215,000.00 $ 27,576,000.00 $ 6,000,000.00 $ 22,319,000.00 $ 11,257,000.00 Long-Term Investments $ 22,747,000.00 $ 14,166,000.00 $ 36,913,000.00 Goodwill $ 6,402,000.00 $ 1,693,000.00 $ 4,709,000.00 Intangible Assets (Net) $ 6,376,000.00 $ 1,680,000.00 $ 4,696,000.00 C T 2 3 4 Cash 5 Beginning balance 6 Cash payments 7 Cash receipts GENERAL LEDGER ACCOUNTS Current Assets Debit Credit $ 16,650,000.00 $ 12,034,000.00 $ 860,000,000.00 8 Ending balance $ 864,616,000.00 9 10 Short-Term Investments 11 Beginning balance $ 5,802,000.00 12 Purchase $ 4,572,000.00 13 Ending balance $ 10,374,000.00 14 15 Accounts Receivable (Net) 16 Beginning balance $ 53,704,000.00 17 Allowance for doubtful accounts $ 210,000.00 18 Credit sales $ 24,056,000.00 19 Collections $ 58,112,000.00 20 Ending balance $ 19,438,000.00 21 22 Inventories 23 Beginning balance $ 82,208,000.00 24 Purchase $ 20,000,000.00 25 Sales $ 74,684,000.00 26 Ending balance $ 27,524,000.00 27 28 Other Current Assets 29 Beginning balance 30 Payments/decrease 31 Ending Balance 32 33 Accounts Payable $ 1,758,000.00 $ 805,000.00 $ 953,000.00 Current Liabilities 34 Beginning balance $ 24,118,000.00 Balance Sheet Income Statement General Ledger Accounts

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
Problem 1PS
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Analyze the attached general ledger and balance sheet to see if the current assets and general ledger are accurate. Why or why not?

Analyze the attached ledger and balance sheet and determine if the long-term assets and ledger are accurate.  Why or why not?

 

 

29 Beginning balance 30 Payments/decrease 31 Ending Balance 32 33 Accounts Payable 34 Beginning balance 35 Credit purchases 36 Payments 37 Ending balance 38 A 39 Other Current Liabilities 40 Beginning balance 41 Credit purchases 42 Payments 43 Ending balance 44 45 Beginning balance 46 Purchases 47 Ending balance 48 49 Beginning balance 50 Decrease 51 Ending balance 52 53 Beginning balance 54 Amortization 55 Ending balance 56 57 58 es $ $ Current Liabilities B 1,758,000.00 $ 953,000.00 с 805,000.00 $ 24,118,000.00 $ 4,000,000.00 $ 18,903,000.00 $ 9,215,000.00 $ 27,576,000.00 $ 6,000,000.00 $ 22,319,000.00 $ 11,257,000.00 Long-Term Investments $ 22,747,000.00 $ 14,166,000.00 $ 36,913,000.00 Goodwill $ 6,402,000.00 $ 1,693,000.00 $ 4,709,000.00 Intangible Assets (Net) $ 6,376,000.00 $ 1,680,000.00 $ 4,696,000.00 C
Transcribed Image Text:29 Beginning balance 30 Payments/decrease 31 Ending Balance 32 33 Accounts Payable 34 Beginning balance 35 Credit purchases 36 Payments 37 Ending balance 38 A 39 Other Current Liabilities 40 Beginning balance 41 Credit purchases 42 Payments 43 Ending balance 44 45 Beginning balance 46 Purchases 47 Ending balance 48 49 Beginning balance 50 Decrease 51 Ending balance 52 53 Beginning balance 54 Amortization 55 Ending balance 56 57 58 es $ $ Current Liabilities B 1,758,000.00 $ 953,000.00 с 805,000.00 $ 24,118,000.00 $ 4,000,000.00 $ 18,903,000.00 $ 9,215,000.00 $ 27,576,000.00 $ 6,000,000.00 $ 22,319,000.00 $ 11,257,000.00 Long-Term Investments $ 22,747,000.00 $ 14,166,000.00 $ 36,913,000.00 Goodwill $ 6,402,000.00 $ 1,693,000.00 $ 4,709,000.00 Intangible Assets (Net) $ 6,376,000.00 $ 1,680,000.00 $ 4,696,000.00 C
T 2 3 4 Cash 5 Beginning balance 6 Cash payments 7 Cash receipts GENERAL LEDGER ACCOUNTS Current Assets Debit Credit $ 16,650,000.00 $ 12,034,000.00 $ 860,000,000.00 8 Ending balance $ 864,616,000.00 9 10 Short-Term Investments 11 Beginning balance $ 5,802,000.00 12 Purchase $ 4,572,000.00 13 Ending balance $ 10,374,000.00 14 15 Accounts Receivable (Net) 16 Beginning balance $ 53,704,000.00 17 Allowance for doubtful accounts $ 210,000.00 18 Credit sales $ 24,056,000.00 19 Collections $ 58,112,000.00 20 Ending balance $ 19,438,000.00 21 22 Inventories 23 Beginning balance $ 82,208,000.00 24 Purchase $ 20,000,000.00 25 Sales $ 74,684,000.00 26 Ending balance $ 27,524,000.00 27 28 Other Current Assets 29 Beginning balance 30 Payments/decrease 31 Ending Balance 32 33 Accounts Payable $ 1,758,000.00 $ 805,000.00 $ 953,000.00 Current Liabilities 34 Beginning balance $ 24,118,000.00 Balance Sheet Income Statement General Ledger Accounts
Transcribed Image Text:T 2 3 4 Cash 5 Beginning balance 6 Cash payments 7 Cash receipts GENERAL LEDGER ACCOUNTS Current Assets Debit Credit $ 16,650,000.00 $ 12,034,000.00 $ 860,000,000.00 8 Ending balance $ 864,616,000.00 9 10 Short-Term Investments 11 Beginning balance $ 5,802,000.00 12 Purchase $ 4,572,000.00 13 Ending balance $ 10,374,000.00 14 15 Accounts Receivable (Net) 16 Beginning balance $ 53,704,000.00 17 Allowance for doubtful accounts $ 210,000.00 18 Credit sales $ 24,056,000.00 19 Collections $ 58,112,000.00 20 Ending balance $ 19,438,000.00 21 22 Inventories 23 Beginning balance $ 82,208,000.00 24 Purchase $ 20,000,000.00 25 Sales $ 74,684,000.00 26 Ending balance $ 27,524,000.00 27 28 Other Current Assets 29 Beginning balance 30 Payments/decrease 31 Ending Balance 32 33 Accounts Payable $ 1,758,000.00 $ 805,000.00 $ 953,000.00 Current Liabilities 34 Beginning balance $ 24,118,000.00 Balance Sheet Income Statement General Ledger Accounts
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