Intermediate Accounting (2nd Edition)
2nd Edition
ISBN: 9780134730370
Author: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Publisher: PEARSON
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Textbook Question
Chapter 6, Problem 6.8BE
Classified
Account | Debit | Credit |
Accumulated other comprehensive loss | $ 14,900 | |
Current portion of long-term debt | $ 45,600 | |
Property, plant, and equipment – net | 876,500 | |
50,000 | ||
Bonds payable, due in 20 years | 125,000 | |
Accounts payable | 76,500 | |
Additional paid in capital | 345,000 | |
Dividends payable | 1,200 | |
Merchandise inventory | 200,000 | |
Income taxes payable | 32,500 | |
Cash | 15,325 | |
Notes payable, due in 10 years | 9,000 | |
400,900 | ||
Common stock. $1 par value | —____ | 121,025 |
Totals | $1,156,725 | $1,156,725 |
Prepare a classified balance sheet using the report format.
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Determine the amount of long-term debt for ABC Co. using the following balance sheet
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Long-Term Debt
%24
Determine the amount of long-term debt for ABC Co. using the following balance sheet information: cash balance of $24,429, accounts payable of $97,423, common stock of $400,517, retained earnings of $500,749, inventory of $207,068, other assets equal to $77,098, net plant and equipment of $706,191, short-term notes payable of $30,000, and accounts receivable of $142,586.
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Od. $100,000
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Chapter 6 Solutions
Intermediate Accounting (2nd Edition)
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