The Cable Company prepared the following balance sheet: Your analysis of these accounts reveals the following information:
Question:
The Cable Company prepared the following balance sheet:
Your analysis of these accounts reveals the following information:
Required
Based on your analysis, prepare a properly classified December 31, 2007 balance sheet for the CableCompany.
Transcribed Image Text:
CABLE COMPANY Balance Sheet For Year Ended December 3, 2007 Working capital Other assets 22,800 152,000 $174,800 Noncurrent liabilities Stockholders equity 62,000 112,800 $174,800 Total Total . Working capital consists of: 2. Other assets include 12,000 18,000 (22,700) 35,500 (16,400) Investmenn available- (3,600 r-al stock (17,000) 17,000 $ 12,300 2,400 100,000 3,000 Accounts due from customers Accounts due to suppliers Inventories, including office supplies of $3,500 Income taxes owed Wages owed Note owed to bank (due December 31, 2009) Securities held as a temporary investment Prepaid insurance Buildings and equipment Discount on bonds payable 29,000 5,300 $152,000 Treasury stock (at cost) S 22,800 3. Noncurrent liabilities consist of 4. Stockholders' equity includes: 33,000 Accumulated depreciation: Bonds payable (due 2017) Allowance for doubtful accounts Premium on preferred stock Common stock, S5 par ,400 2,600 25,000 S 62,000 buildings and equipmen s 40,000 12,000 stock15,600 40,000 6,500 Preferred stock, $100 par pension cost Unrealized decrease in value of available-for-sale securities (1,300)
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CABLE COMPANY Balance Sheet December 31 2007 Assets Current Assets Cash 12300 Temporary investments in marketable securities 17000 Accounts receivable ...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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