In its annual report to stockholders, Hakobe Inc. presents a condensed balance sheet with detailed data provided in supplementary schedules.
1. From the adjusted trial balance of Hakobe, prepare the following sections of the balance sheet, properly classifying all accounts as to balance sheet categories:
(a) Current assets
(b) Property, plant, and equipment
(c) Intangible assets
(d) Total assets
(e) Current liabilities
(f) Noncurrent liabilities
(g) Owners€™ equity
(h) Total liabilities and owners€™ equity
2. Compute the current ratio and debt ratio forHakobe.

Transcribed Image Text:

Hakobe Inc. Adjusted Trial Balance December 31, 2011 Debit Credit 43.700 15.000 Investment securities (trading) Notes receivable trade debtors Accrued interest on notes receivable Accounts receivable Allowance for doubtful accounts 2.100 79,500 4600 59.300 Prepaid expenses Accounts payable Notes payable trade creditors Accrued interest on notes payable 57.600 11,000 03,000 92.000 21,000 Equipment 37.000 5,900 82.110 Bonds payable, 8 issue I (mature 12/31/13) Bonds payable, 12%- ssue 2 (mature l 2/31/17) Accrued interest on bonds payable Premium on bonds payable issue I Discount on bonds payable--issue 2 Mortgage payable Accrued interest on mortgage payable Capital stock, par value $; 10,000 shares authorized: 65,000 125,000 7500 2.500 4,320 5,000 shares issued Additional paid-in capital Retained earnings Treasury stock at cost (500 shares) 5.000 123.700 251.340 6.000 $757.410 $757.410