Sample Balance Sheet - Goodwill 105,000 Common Stock...

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Example Company Balance Sheet December 31, 2009 ASSETS LIABILITIES Current Assets Current Liabilities Cash $ 2,100 Notes Payable $ 5,000 Petty Cash 100 Accounts Payable 35,900 Temporary Investments 10,000 Wages Payable 8,500 Accounts Receivable - net 40,500 Interest Payable 2,900 Inventory 31,000 Taxes Payable 6,100 Supplies 3,800 Warranty Liability 1,100 Prepaid Insurance 1,500 Unearned Revenues 1,500 Total Current Assets 89,000 Total Current Liabilities 61,000 - Investments 36,000 Long-term Liabilities Notes Payable 20,000 Bonds Payable 400,000 Land 5,500 Total Long-term Liabilities 420,000 Land Improvements 6,500 Buildings 180,000 Equipment 201,000 Total Liabilities 481,000 Less: Accum Depreciation (56,000) 337,000 - Intangible Assets STOCKHOLDERS' EQUITY
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Unformatted text preview: Goodwill 105,000 Common Stock 110,000 Trade Names 200,000 Retained Earnings 229,000 Total Intangible Assets 305,000 Less: Treasury Stock (50,000) Total Stockholders' Equity 289,000 Other Assets 3,000-Total Assets $770,000 Total Liabilities & Stockholders' Equity $770,000 (Computation of Net Income) Presented below are changes in all the account balances of Fred Reed Company during the current year, except for retained earnings. (Decrease) Cash Accounts Receivable (net) Inventory Investments Compute the net income for the current year assuming that there were no entries in retained earnings account except for net income and a dividend declaration of $19,000 which was paid in the current year....
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This note was uploaded on 03/30/2010 for the course ACC 201 taught by Professor Smith during the Spring '10 term at Indiana Institute of Technology.

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Sample Balance Sheet - Goodwill 105,000 Common Stock...

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