AC300-03_Unit 5_Assignment_04-4_Marjorie Bowden

AC300-03_Unit 5_Assignment_04-4_Marjorie Bowden - P4-4 Name...

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Unformatted text preview: P4-4 Name: Marjorie Bowden 1. In the shaded cells, enter the appropriate account titles in column B and amounts in columns F,H, and J. An asterisk (*) will appear next to incorrect amounts for specific cells. INTERNATIONAL PRODUCTS COMPANY Balance Sheet December 31, 2010 Assets Current Assets Cash Accounts Receivable Less: Allowance for doubtful Accounts Inventory $8,200 $13,800 (700) Prepaid Insurance Office Supplies Total current assets Long-Term Investments Investment in held-to maturity bonds Sinking fund for bond retirement $900 1,900 13,100 24,400 2,800 $48,500 $9,000 4,000 13,000 Property, Plant, and Equipment Land Building Accumulated Depreciaition: Building Equipment Accumulated Depreciaition: Equipment Total Property, plant, and equipment Intangible Assets Patents (net) Total Assets $9,500 $50,000 (12,400) $29,000 (8,300) 37,600 47,100 * 20,700 67,800 2,400 $131,700 Liabilities Current Liabilities Accounts Payable Interest Payable Dividends payble Accrued Wages Current Income Tax Payable Total current liabilities Long-Term Liabilities Bonds Payable Discount on bonds payable $16,500 2,900 1,800 3,700 4,200 $29,100 $29,000 (2,000) $27,000 17,000 Notes Payable (due Jan.1, 2013) total long term liabilities Total Liabilities 44,000 $73,100 Stockholders' Equity Contributed Capital Preferred Stock, $50 par Common Stock, $10 par Additional paid-in capital on preferred stock Additional paid-in capital on COMMON stock Total contributed capital Retained Earnings Total contributed capital and retained earnings Treasury Stock (at cost) Total Stockholders Equity Total Liabilities and Stockholders' Equity $10,000 15,000 1,600 7,700 $34,300 25,800 $60,100 ($1,500) $58,600 $131,700 ...
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This note was uploaded on 05/30/2011 for the course ACC 300 taught by Professor K.snow during the Spring '09 term at Kaplan University.

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AC300-03_Unit 5_Assignment_04-4_Marjorie Bowden - P4-4 Name...

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