LT week 4 upload - Chapter5P53 SIDEKICKSCOMPANY...

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Chapter 5 P5-3 SIDE KICKS COMPANY Balance Sheet September 31,  2007 Assets Current Assets      Cash $41,000       Accounts receivables 163,500           Less: allowance for doubtful accounts 8,700 154,800      Inventory at cost(LIFO) 308,500      Prepaid Insurance 5,900                Total Current Assets 510,200 Long-Term Investments bank loans secured by long-term investments carried at  339,000 $120,000  Property, plant, and equipment      Plant (work in progress)      Land 85,000      Building in Process of construction 124,000 209,000      Equipment  400,000           Less Accumulated Depreciation of Equipment 140,000 260,000 469,000 Intangible Assets      Patents (at cost less amortization) 36,000                Total assets  $1,354,200  Liabilities and stockholder's Equity Current Liabilities      Notes payable  94,000      Accounts payable 148,000      Accrued expense 49,200           Total current liabilities  $291,200  Long-term Liabilities      bonds payable @ 8% due January 1, 2008 400,000           Less unamortized discount:      bonds payable   20,000
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This note was uploaded on 01/14/2012 for the course ACCOUNTING ACC 241 taught by Professor Unknown during the Spring '11 term at University of Phoenix.

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LT week 4 upload - Chapter5P53 SIDEKICKSCOMPANY...

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