Review for AC202

Activities sale of common stock 8000 i ncrease in

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Unformatted text preview: ’ Equity Liabilities Current Liabilities Notes payable Wages payable Accounts payable Total current liabilities $ 1,400 4,000 1,800 $ 7,200 16,000 $23,200 $ 4,000 1,000 2,000 7,000 6th - list the current liabilities and sub-total Classified Balance Sheet Classified Balance Sheet Generally contains the following standard classifications: Current Assets Long­Term Investments Property, Plant, and Equipment Intangible Assets Current Liabilities Long­Term Liabilities Stockholders' Equity A Classified Balance Sheet... Generally contains the following standard classifications: Current Assets Type of Long-Term Investments Asset Accounts Property, Plant, and Equipment Intangible Assets Current Liabilities Type of Liability Accounts Long-Term Liabilities Stockholders' Equity Long­Term Liabilities Debts expected to be paid after one year Examples… bonds payable mortgages payable long­term notes payable lease liabilities and obligations under employee pension plans CSU CORPORATION Balance Sheet December 31, 2004 Assets Current Assets Cash Accounts receivable Supplies Total Current Assets Property Plant and Equipment Equipment $ 16,000 Total Property Plant and Equipment Total assets Liabilities and Stockholders’ Equity Current Liabilities Accounts payable $ 2,000 Wages payable 1,000 Total Current Liabilities Long Term Liabilities Notes payable $ 4,000 Total Long Term Liabilities Total liabilities $ 1,400 4,000 1,800 $ 7,200 16,000 $23,200 $ 3,000 4,000 $ 7,000 7th - list the long term liabilities and sub-total Classified Balance Sheet Classified Balance Sheet Generally contains the following standard classifications: Current Assets Long­Term Investments Property, Plant, and Equipment Intangible Assets Current Liabilities Long­Term Liabilities Stockholders' Equity CSU CORPORATION Balance Sheet December 31, 2004 LAST - list stockholders’ equity Subtotal Add to liabilities Total Balance Sheet December 31, 2004 Assets Current Assets Cash Accounts receivable Supplies Total Current Assets Property Plant and Equipment Equipment $ 16,000 Total Property Plant and Equipment Total assets Liabilities and Stockholders’ Equity Current Liabilities Accounts payable $ 2,000 Wages payable 1,000 Total Current Liabilities Long Term Liabilities Notes payable $ 4,000 Total Long Term Liabilities Total liabilities Stockholders’ equity Common stock $10,000 Retained earnings 6,200 Total Stockholders’ equity Total liabilities and stockholders’ equity $ 1,400 4,000 1,800 $ 7,200 16,000 $23,200 $ 3,000 4,000 $ 7,000 16,200 $23,200 If total assets and total liabilities and stockholders’ equity equal… double underline. CSU CORPORATION Balance Sheet December 31, 2004 Assets Current Assets Cash Accounts receivable Supplies Total Current Assets Property Plant and Equipment Equipment $ 16,000 Total Property Plant and Equipment Total assets Liabilities and Stockholders’ Equity Current Liabilities Accounts payable $ 2,000 Wages payable 1,000 Total Current Liabilities Long Term Liabilities Notes p...
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