Wk 2 Chapter 3 Intermediate Accounting

Wk 2 Chapter 3 Intermediate Accounting - Tara Anderson...

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Tara Anderson Exercise 3-22 1 g or - 2 i b 3 f or g 4 g a 5 f 6 - f 7 h or f 8 i 9 a f 10 e 11 a 12 - b 13 d 14 a or - 15 k f 16 c or - 17 i a 18 a 19 a 20 e or a
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Tara Andeson Exercise 3-26 Assets Current assets: Cash Investment securities (trading) Accounts receivable Allowance for bad debts Inventory Prepaid Insurance Interest Receeivables Income Tax Expense not on balance sheet Advertising Expense not on balance sheet Total Current Assests Noncrrent assets: Buildings, equipment, and land Buildings Less: Accumulated depreciation Equipment Less: Accumulated depreciation Goodwill Patents Property Tax Expense Net Pension Asset Investment in subsidiary Total noncurrent assets Total assets Liabilities and Owners' Equity Current liabilities: Accounts payable Salaries Payable Income taxes payable Notes Payable Total current liabilities Estimated warranty expense Noncurrent liabilities: Estimated Warranty Expense Payable Deferred income tax liability Notes Payable (current) Bonds Payable Investment in Subsidiary Premium on bonds payable Total noncurrant liabilities Total liabilities Owners' Equity Contributed capital:
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Common stock Dividends Paid-in capital from sale of treasury stock Paid-in capital in excess of stated value Total contributributed capital Retained earnings Total contributied capital and retained earn Total owners' equity Total liabilities and owners' equity
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3-29 Name: Tara Anderson Enter the appropriate amounts in the shaded cells in columns G, I and K. 1 Clark and Company Inc. Consolidated Balance Sheet January 31, 2008 Assets Current assets: Cash on hand $24,250 Investment securities (trading) 22,642 (a) Accounts and notes receivable $129,515 (b) Allowance for doubtful accounts and notes receivable 7,851 121,664 Inventory 197,682 Other current assets 14,227 Total current assets Noncrrent assets: Property, plant, and equipment: Buildings $694,604 Less: Accumulated depreciation 295,772 (d) $398,832 Other noncurrent assets 13,217
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