09-04Ex_5e_s

Survey of Accounting (Available Titles Cengagenow)

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Exercise 9-4 Name: Section: Score: 0% Answers are entered in the cells with gray backgrounds. Cells with non-gray backgrounds are protected and cannot be edited. A red asterisk (*) will appear in the column to the right of an incorrect answer. a. HANES COMPANY Comparative Balance Sheet December 31, 2010 and 2009 2010 2009 Amount Percent Amount Percent Current assets $320,000 $200,000 Property, plant, and equipment 560,000 560,000 Intangible assets 120,000 40,000 Total assets $1,000,000 $800,000 Current liabilities $210,000 $120,000 Long-term liabilities 350,000 300,000 Common stock 100,000 100,000 Retained earnings 340,000 280,000 Total liabilities and stockholders' equity $1,000,000 $800,000 Instructions
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Exercise 9-4 Name: SOLUTION Section: Score: See student sheet for student's score Scoring: ON Answers are entered in the cells with gray backgrounds.
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Unformatted text preview: Cells with non-gray backgrounds are protected and cannot be edited. A red asterisk (*) will appear in the column to the right of an incorrect answer. a. HANES COMPANY Comparative Balance Sheet December 31, 2010 and 2009 2010 2009 Amount Percent Amount Percent Current assets $320,000 32.0% $200,000 25.0% Property, plant, and equipment 560,000 56.0% 560,000 70.0% Intangible assets 120,000 12.0% 40,000 5.0% Total assets $1,000,000 100.0% $800,000 100.0% Current liabilities $210,000 21.0% $120,000 15.0% Long-term liabilities 350,000 35.0% 300,000 37.5% Common stock 100,000 10.0% 100,000 12.5% Retained earnings 340,000 34.0% 280,000 35.0% Total liabilities and stockholders' equity $1,000,000 100.0% $800,000 100.0% Instructions...
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This note was uploaded on 11/04/2011 for the course ACC 121 taught by Professor Thomas during the Winter '08 term at Baker MI.

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09-04Ex_5e_s - Cells with non-gray backgrounds are...

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