04 PY 2002 Balance Sheet - $2,847,037 $2,298,848...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
273 APPLE BLOSSOM COLOGNE COMPANY Balance Sheet December 31, 2002 and 2001 ASSETS 2002 2001 Current Assets: Cash .................................................................................................................... $519,955 $368,606 Accounts receivable less allowance for losses 2002, $11,889; 2001, $13,769 .......................................................................... 127,615 130,244 Inventories (Note 1) ............................................................................................ 873,766 588,139 Prepaid expenses 56,155 60,204 Investment in securities (Notes 1 and 2) 480,991 331,694 Total Current Assets .................................................................................................. 2,058,482 1,478,887 Property, plant, & equipment, at cost (Note 1): Land .................................................................................................................... 82,250 103,250 Buildings ............................................................................................................. 276,263 243,250 Machinery and equipment ................................................................................... 540,845 535,800 Automotive equipment ........................................................................................ 99,425 90,125 Office furniture and fixtures ............................................................................... 106,433 99,775 1,105,216 1,072,200 Less accumulated depreciation ........................................................................... 316,661 252,239 788,555 819,961 TOTAL ASSETS ........................................................................................................
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: $2,847,037 $2,298,848 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable ................................................................................................ $223,161 $140,649 Accrued liabilities ............................................................................................... 219,823 191,613 Notes payable (Note 3) .......................................................................................... 125,000 Dividends payable ............................................................................................... 17,575 13,875 Income taxes payable (Note 4) ............................................................................ 63,772 14,230 Total current liabilities ............................................................................................. 649,331 360,367 Total Liabilities .......................................................................................................... 649,331 360,367 Stockholders' Equity: Common stock, par value $100, authorized 20,000 shares, issued and outstanding 9,250 shares ................................................................. 925,000 925,000 Contributed capital in excess of par value .......................................................... 736,550 736,550 Unrealized gain<loss>on investments 6,473 4,496 Retained earnings ................................................................................................ 529,683 272,435 Total Stockholders' Equity ........................................................................................ 2,197,706 1,938,481 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $2,847,037 $2,298,848...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern