E7-10 - E7-10 Correct. Presented below is partial balance...

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Unformatted text preview: E7-10 Correct. Presented below is partial balance sheet information related to Batten Ltd., a United Kingdom company at December 31. All financial information has been translated from pounds to dollars. BATTEN LTD. Balance Sheet (partial) (in thousands) Fixed Assets Tangible assets $900,000 Current Assets Stocks (inventory) $300,000 Debtors 121,000 Investments 53,000 62,000 Cash 536,000 Creditors Amounts falling due within one 100,000 year 436,000 Net current assets Total assets less 1,336,000 current liabilities Creditors Amounts falling due over one 240,000 year $1,096,000 Total net assets Restate the asset side of the balance sheet in accordance with generally accepted accounting principles in the United States. (List assets in order of liquidity.) BATTEN LTD. Partial Balance Sheet (in U.S. format) (in thousands) Current Assets Cash Short-term investments Accounts receivable Inventories Total current assets Property, plant, and equipment Total assets What is the amount of total stockholders' equity? $ 1096000 $ 62000 53000 121000 300000 536000 900000 $ 1436000 ...
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This note was uploaded on 10/11/2011 for the course ACC557 ACC557 taught by Professor Na during the Spring '10 term at Strayer.

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E7-10 - E7-10 Correct. Presented below is partial balance...

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