Chichester
1. P4-4
Name:
Terri In the shaded cells, enter the appropriate account titles in column B and amounts in columns F,H, and J.
An asterisk (*) will appear next to incorrect amounts for specific cells.
INTERNATIONAL PRODUCTS COMPANY
Balance Sheet
December 31, 2010
Assets
Current Assets
Cash
Accounts Receivable
Less: Allowance for doubtful accounts
Inventory
Prepaid items
Prepaid insurance
Office supplies
Total current assets
Long-Term Investments
Investment in held to maturity bonds
Sinking fund for bond retirement
Total Long-Term Investments
Property, Plant, and Equipment
Land
Buildings
Acculated depreciation (buildings)
Equipment
Accumulated depreciation (equipment)
Total Property, Plant, and Equipment
Intangible Assets
Patents
Total Assets
$8,200
$13,800
(700)
$900
1,900
13,100
24,400
2,800
$48,500
$9,000
4,000
13,000
$9,500
$50,000
(12,400)
$29,000
(8,300)
37,600
20,700
67,800
2,400
$131,700
Liabilities
Current payable
Current Liabilities
Accounts interest payable
Dividends payable
Accrued wages
Current income taxes payable
Total current liabilities
Long-Term Liabilities
Bonds payable (due 2016)
Discount on bonds payable
Total bonds payable
Notes payable (due January 1, 2013)
Total long-term liabilities
Total Liabilities
$16,500
2,900
1,800
3,700
4,200
$29,100
$29,000
(2,000)
$27,000
17,000
44,000
$73,100
Stockholders' Equity
Contributed Capital
Preferred stock, $50 par
Common Stock $10 par
Additional paid-in capital on preferred stock
Additional paid-in capital on common stock
Total contributed capital
Retained Earnings
Total contributed capital and retained earnings
Treasury stock (at cost)
Total Stockholders' Equity
Total Liabilities and Stockholders' Equity
$10,000
15,000
1,600
7,700
$34,300
25,800
$60,100
($1,500)
$58,600
$131,700