What do the A's and S's mean in the Consolidated Balance Sheet? Thank you. ## CASEY CORPORATION AND CONSOLIDATED SUBSIDIARY KENNEDY### Worksheet for a Consolidated Balance Sheet #### January 1, 2021---### Assets- **Cash** - Casey: $524,000 - Kennedy: $192,000 - Consolidated: $716,000- **Accounts Receivable** - Casey: $1,455,000 - Kennedy: $334,000 - Consolidated: $1,789,000- **Inventory** - Casey: $1,500,000 - Kennedy: $286,000 - Consolidated: $1,786,000- **Investment in Kennedy** - Casey: $3,244,000 - Adjustment & Elimination: Debit $3,244,000 - Consolidated: $0- **Buildings (net)** - Casey: $5,572,500 - Kennedy: $1,870,000 - Adjustment: $366,000 (Debit) - Consolidated: $7,808,500- **Licensing Agreements** - Kennedy: $3,000,000 - Adjustment: $196,000 (Credit) - Consolidated: $2,804,000- **Goodwill** - Casey: $531,500 - Adjustment: $474,000 (Credit) - Consolidated: $1,005,500- **Total Assets** - Casey: $12,827,000 - Kennedy: $5,682,000 - Consolidated: $15,909,000### Liabilities and Equities- **Accounts Payable** - Casey: ($387,000) - Kennedy: ($382,000) - Consolidated: ($769,000)- **Long-term Debt** - Casey: ($3,440,000) - Kennedy: ($2,700,000) - Consolidated: ($6,140,000)- **Common Stock** - Casey: ($3,000,000) - Kennedy: ($1,000,000) - Adjustment: $1,000,000 (Credit) - Consolidated: ($3,000,000)- **Additional Paid-in Capital** - Casey: $

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FINANCIAL ACCOUNTING

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ISBN:9781259964947

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Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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What do the A's and S's mean in the Consolidated Balance Sheet? Thank you.

## CASEY CORPORATION AND CONSOLIDATED SUBSIDIARY KENNEDY

### Worksheet for a Consolidated Balance Sheet
#### January 1, 2021

---

### Assets

- **Cash**
- Casey: $524,000
- Kennedy: $192,000
- Consolidated: $716,000

- **Accounts Receivable**
- Casey: $1,455,000
- Kennedy: $334,000
- Consolidated: $1,789,000

- **Inventory**
- Casey: $1,500,000
- Kennedy: $286,000
- Consolidated: $1,786,000

- **Investment in Kennedy**
- Casey: $3,244,000
- Adjustment & Elimination: Debit $3,244,000
- Consolidated: $0

- **Buildings (net)**
- Casey: $5,572,500
- Kennedy: $1,870,000
- Adjustment: $366,000 (Debit)
- Consolidated: $7,808,500

- **Licensing Agreements**
- Kennedy: $3,000,000
- Adjustment: $196,000 (Credit)
- Consolidated: $2,804,000

- **Goodwill**
- Casey: $531,500
- Adjustment: $474,000 (Credit)
- Consolidated: $1,005,500

- **Total Assets**
- Casey: $12,827,000
- Kennedy: $5,682,000
- Consolidated: $15,909,000

### Liabilities and Equities

- **Accounts Payable**
- Casey: ($387,000)
- Kennedy: ($382,000)
- Consolidated: ($769,000)

- **Long-term Debt**
- Casey: ($3,440,000)
- Kennedy: ($2,700,000)
- Consolidated: ($6,140,000)

- **Common Stock**
- Casey: ($3,000,000)
- Kennedy: ($1,000,000)
- Adjustment: $1,000,000 (Credit)
- Consolidated: ($3,000,000)

- **Additional Paid-in Capital**
- Casey: $

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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A consolidated balance sheet is a balance sheet prepared in addition to the regular balance sheet of the company which includes the assets and undertakings which are not fully owned by the entity but are under the control of the entity.

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