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E5-5.1 - UHURA COMPANY BALANCE SHEET FOR THE YEAR ENDING...

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UHURA COMPANY BALANCE SHEET FOR THE YEAR ENDING DEC. 31, 2004 ASSETS Current Assets Cash (net of bank overdraft of 30,000) $230,000 Accounts Receivable (net) 340000 Doubful Accounts 17000 323000 Inventory at lower of average cost or market 401000 Trading Securities-at cost (fair value of 120,000) 140000 Total Current Assets $1,094,000 Property, Plant, and Equipment Building 570000 Office Equipment 160000 Land held for future use 175000 905000 Intangible Assets Goodwill 80000 Cash surrender value o future life insrance 90000 Pre-paid expenses 12000 182000 2,181,000 LIABILITIES AND STOCKHOLDERS EQUITY Current liabilities Accounts Payable 135000 Notes Payable 125000 Pension obligations 82000 Rents payable 49000 391000 Premium on bonds payable 53000 444000 414000 Long Term Liabilities Bonds Payable 500000 500000 Stockholder's Equity Common Stock, $1.00par authorized 400,000 shares 290000 isued 290,000 Additional Paid-in capital 160000 450000
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Retained Earnings 426000 Total Stockholders' Equity 876000 Total Liabilities & Stockholders' Equity 2,181,000
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Uhura C Balanc Decembe Assets: Current Assets: Cash $230,000 Trading Securities-At Fair Value $120,000 Accounts Receivable $357,000 Less: Allowance for Doubtful Accounts $17,000 $340,000 Inventories, At Lower of Average Cost or Market
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