intermediate accounting 1

intermediate accounting 1 - 1,600...

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International Products Company Balance Sheet December 31, 2010 Assets Non-current assets Investment in held to maturity bonds $9,000 Sinking fund for bond retirement 4,000 Land 9,500 Buildings $50,000 Less: Accumulated depreciation (12,400) 37,600 Equipment $29,000 Less: Accumulated depreciation (8,300) 20,700 Patents (net) 2,400 Total noncurrent assets $83,200 Current assets Cash $8,200 Accounts receivable $13,800 Less: Allowence for doubtful accounts (700) 13,100 Inventory 24,400 Prepaid items Insurance $900 Office supplies 1,900 2,800 Total current assets $48,500 Total assets $131,700 Stockholders' Equity Contributed Capital Preferred stock, $50 par $10,000 Common stock, $10 par 15,000 Additional-paid-in-capital on preferred stock
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Unformatted text preview: 1,600 Additional-paid-in-capital on common stock 7,700 $34,300 Retained Earnings 25,800 Total contributed capital and retained earnings $60,100 Less: Treasury stock (1,500) Total equity $58,600 Liabilities Noncurrent Liabilities Bond payable (due 2016) $29,000 Less: Discount on bonds payable (2,000) $27,000 Notes payable (due 1/1/2013) 17,000 Total noncurrent liabilities $44,000 Current Liabilities Accounts Payable $16,500 Current interest payable 2,900 Dividends payable 1,800 Accrued wages 3,700 Current income taxes payable 4,200 Total current liabilities $29,100 Total liabilities $73,100 Total equity and liabilities $131,700...
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This note was uploaded on 11/14/2011 for the course AC300 300 taught by Professor Day during the Winter '10 term at Kaplan University.

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