Terri Chichester_Unit5_project

Terri Chichester_Unit5_project - P4-4 Name: Terri...

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Unformatted text preview: P4-4 Name: Terri Chichester 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 Prepaid items Prepaid insurance Office supplies Total current assets Long-Term Investments Investment in held to maturity bonds Sinking fund for bond retirement Total Long-Term Investments Property, Plant, and Equipment Land Buildings Acculated depreciation (buildings) Equipment Accumulated depreciation (equipment) Total Property, Plant, and Equipment Intangible Assets Patents Total Assets $8,200 $13,800 (700) $900 1,900 13,100 24,400 2,800 $48,500 $9,000 4,000 13,000 $9,500 $50,000 (12,400) $29,000 (8,300) 37,600 20,700 67,800 2,400 $131,700 Liabilities Current Liabilities Accounts payable Current interest payable Dividends payable Accrued wages Current income taxes payable Total current liabilities Long-Term Liabilities Bonds payable (due 2016) Discount on bonds payable Total bonds payable Notes payable (due January 1, 2013) Total long-term liabilities Total Liabilities $16,500 2,900 1,800 3,700 4,200 $29,100 $29,000 (2,000) $27,000 17,000 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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