Ch3 HW Balance Sheet

Ch3 HW Balance Sheet - $165,450 At First Glance NEW...

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Kelli Owens 3-28 Jared Corporation Balance Sheet 31-Dec-08 Assets Liabilities and Owners' Equity Current Assets: Current Liabilities: Unrestricted Cash $8,500 Bonds payable $2,500 Restricted Cash 4,000 Dividends payable 15,000 Investment securities 5,250 Notes payable 7,000 Investment securities (equity method) 2,750 Accounts payable 3,400 Other miscellaneous investments 8,000 Other current liabilities 2,000 Accounts receivables net 21,350 Total current liabilities $29,900 Inventory 31,000 Long-term liabilities 23,250 Other Current Assets 10,200 Total liabilities $53,150 Total Current Assets $91,050 Owners' equity: Noncurrent Assets: Preferred Stock 19,000 $56,800 Common stock 50,000 Other noncurrent assets 17,600 Retained earnings 66,800 Total noncurrent assets $74,400 Treasury stock (4,500) (19,000) Total owners' equity $112,300 Total Assets $165,450 Total Liabilities and owners' equity
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Unformatted text preview: $165,450 At First Glance: NEW ANALYSIS a: -4k cash +4k other NCA :-4kcash-change acct to unrestricted cash, +4k temp rest cash (new Acct) c: -4k other CA + 4k other NCA d: -2.5k LTL + 2.5k Other CL :-2.5k LTL + 2.5K CL (Bonds Payable) f: +15k AP -15k Ret Earnings (legal liability created upon declaration) :+15K Dividends Payable -15K Retained Earnings g: +19k Other CL + 19k Other CA :+19k preferred stock - 19K Restricted Retained Earnings h: -8k PPE + 8k Other miscellaneous investments b: -2.75k Inv sec + 2.75k Inv Equity - An accounting method used to determine income derived from a company's investment in another company over which it exerts significant influence. Under the equity method, investment income equals a share of net income proportional to the size of the equity investment. This content can be found on the following page:...
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