ACO01 - Lecture 5 - Completing the Accounting Cycle [Compatibility Mode]

16 consolidate d balance shee t december 31 2001 2002

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Unformatted text preview: EQUITY Current Liabilities: Long-term liabilities are debts that Accounts payable & accrued $ 42,385 $ 48,560 expenses maturity dates extending have Accrued employee beyond one year from the balance 8,500 12,385 compensation & benefits Accrued warranty expense 4,200 sheet date. 3,975 Income taxes payable 3,670 Total current liabilities Long-term liabilities (Note 7) 54,860 60,000 68,815 50,000 Let’s look at the stockholders’ equity section of a classified balance sheet. Consolidate d Balance Sheet December 31, 2001 2002 (in thousands, except share data and per shate data) LIABILITIES & STOCKHOLDERS" EQUITY Shareholders' equity: Common stock, $1 par value, 2,400,000 shares authorized, 80,000 and 74,000 issued and outstanding at December 31, 2002 and 2001 (Note 4) Paid-in capital $ Accumulated other comprehensive income Retained Earnings Total shareholders' equity $ 74,000 215,000 225 121,570 410,795 525,655 $ $ 80,000 236,000 (600) 142,365 457,765 576,580 17 Contributed capital is often shown in Consolidate d Balance . . . two separate accountsSheet December 31, Common per shate data) 2001 2002 (in thousands, except share data and stock LIABILITIESPa...
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This document was uploaded on 02/27/2014.

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