On the Clark and Company Inc. balance sheet, indicate the amount that should appear for each of
Question:
Transcribed Image Text:
Clark and Company Inc Consolidated Balance Sheet December 31, 2011 Assets Current assets: $24,250 Cash Investment securitles Accounts and notes recetvable Allowance for doubtful accounts and notes receivable 121,664 197,682 4,227 7,851 Other current assets Total current assets Noncurrent assets: Property. plant, and equipment. Accumulated depreclation Other noncurrent assets Total noncurrent assets $694.604 (d $398,832 3,217 412.049 Total assets $792,514 Liabilities and Owners' Equity Current llabilitles: Accounts payable Payable to banks Income taxes payable Current Installments of long-term Accrued expenses Total current llabllities $(e) 34,236 9,211 6,341 7,100 debt $ (5 Noncurrent llablities: Long-term debt.. Deferred Income tax liablillty Minority interest in subsidiaries ···· Total noncurrent lablltles $ (g) 41,218 4,201 205.410 Total lablities Contributed capltal: $350,782 Preferred stock, no par value (authorized 1.618 shares Issued I.115 shares) Common stock, $ par value per share $ 12,392 (authorized 60,000 shares; Issued 21.842 shares) Additional pald-in capital 0) $ (k) 390,625 Total contributed capital Retained eamings Total contributed capital and retained earnings .. Less: Treasury stock, at cost (1.229 shares) Total owners' equity Total llabllities and owners' equlty s (U) 27,038
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
a 22642 f 145372 k 78145 b ...View the full answer
Answered By
Saikumar Ramagiri
Financial accounting:- Journal and ledgers, preparation of trail balance and adjusted trail balance Preparation of income statement, retained earning statement and balance sheet Banks reconciliation statements Financial statement analysis Cash flow statement analysis (both direct and indirect methods) All methods of Depreciations Management Accounting:- Ratios Budgeting control Cash budget and production budget Working capital management Receivable management Costing:- Standard and variance costing Marginal costing and decision making Cost-volume-profit analysis Inventory management (LIFO, FIFO) Preparation and estimation of cost sheet Portfolio management:- Calculation of portfolio standard deviation or risk Calculation of portfolio expected returns CAPM, Beta Financial management:- Time value of money Capital budgeting Cost of capital Leverage analysis and capital structure policies Dividend policy Bond value calculations like YTM, current yield etc International finance:- Derivatives Futures and options Swaps and forwards Business problems Finance problems Education (mention all your degrees, year awarded, Institute/University, field(s) of major): Education Qualification Board/Institution/ University Month/Year of Passing % Secured OPTIONALS/ Major ICWAI(inter) ICWAI inter Pursuing Pursuing - M.com(Finance) Osmania University June 2007 65 Finance & Taxation M B A (Finance) Osmania University Dec 2004 66 Finance & Marketing. B.Com Osmania University June 2002 72 Income Tax, Cost & Mgt, Accountancy, Auditing. Intermediate (XII) Board of Intermediate May 1999 58 Mathematics, Accountancy, Economics. S S C (X) S S C Board. May 1997 74 Mathematics, Social Studies, Science. Tutoring experience: • 10 year experience in online trouble shooting problems related to finance/accountancy. • Since 6 Years working with solution inn as a tutor, I have solved thousands of questions, quick and accuracy Skills (optional): Technical Exposure: MS Office, SQL, Tally, Wings, Focus, Programming with C Financial : Portfolio/Financial Management, Ratio Analysis, Capital Budgeting Stock Valuation & Dividend Policy, Bond Valuations Individual Skills : Proactive Nature, Self Motivative, Clear thought process, Quick problem solving skills, flexible to complex situations. Achievements : 1. I have received an Award certificate from Local Area MLA for the cause of getting 100% marks in Accountancy during my Graduation. 2. I have received a GOLD MEDAL/Scholarship from Home Minister in my MBA for being the “Top Rank student “ of management institute. 3. I received numerous complements and extra pay from various students for trouble shooting their online problems. Other interests/Hobbies (optional): ? Web Surfing ? Sports ? Watching Comics, News channels ? Miniature Collection ? Exploring hidden facts ? Solving riddles and puzzles
4.80+
391+ Reviews
552+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
Question Posted:
Related Video
This video explains the basic understanding of a group. The term control is acquired when a parent company acquires more than 50% voting rights of subsidiaries. We have covered the basic structure of the consolidated balance sheet, with multiple scenarios of 100% and partial acquisitions at the start and during an accounting period. Also, goodwill and Non-controlling interest are covered in detail
Students also viewed these Accounting questions
-
For each of the items below, identify which fund would be used to account for the item and provide a justification for your answer. a. A city government issued general obligation bonds to finance the...
-
For each of the items in exercise 17.2 state whether they would be measured (a) at fair value under IAS 41 or (b) at the lower of cost and net realisable value under IAS 2: 1. Living pigs 2. Living...
-
For each of the items below, identify which fund(s) would be used to account for the item and provide a justification for your answer. a. A city government issued general obligation bonds to finance...
-
The value of a dirt bike decreases by 25% each year. If you purchased this dirt bike today for $500, to the nearest dollar how much would the bike be worth 5 years later?
-
The main trial for the medication in Problem is conducted and involves a total of 200 patients. Patients are enrolled and randomized to receive either the experimental medication or the placebo. The...
-
As a staff member at one of the 48 state attorney generals offices that are investigating Google, you need to write a report recommending to the attorney general of your state what actions to takeand...
-
Which invention attributed to van Leeuwenhoek had a pronounced influence on the creation of the sciences of cytology, bacteriology, and pathology?
-
McCormick Software reported the following amounts on its balance sheets at December 31, 2012, 2011, and 2010: Sales and profits are high. Nevertheless, McCormick is experiencing a cash shortage....
-
What is the worst-case complexity of the following function? int findUC (string s) { for (int i = 0; i < s.size(); i += 2) } } if (s[i] = 'A' && s[i]
-
A household receives an average of 1.7 pieces of junk mail per day. Find the probability that this household will receive exactly 3 pieces of junk mail on a certain day. Use the Poisson probability...
-
The following balance sheet was prepared for Jared Corporation as of December 31, 2011. The following additional information relates to the December 31, 2011, balance sheet. (a) Cash includes $4,000...
-
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...
-
What are stock splits and stock dividends?
-
The process of identifying only the essential things to identify the real world entities is (a) entities analysis (b) abstraction analysis (c) behavior analysis (d) operational analysis
-
Are use cases the same as functional requirements or functional requirements are different from use cases?
-
If requirements are frequently changing, which of the following models is to be selected? (a) Waterfall model (b) Prototyping model (c) RAD model (d) Agile mode
-
Each object has _______ that specify information about the object. (a) Methods (b) Messages (c) Procedures (d) Attributes
-
Which principle suggests the grouping up of highly cohesive classes? (a) REP (b) \(\mathrm{CCP}\) (c) ISP (d) OCP
-
When a business owner sells to another person the right to operate that business in another location, this is a business form known as a ____________. (a) conglomerate (b) franchise (c) joint venture...
-
For the following exercises, find the inverse of the function and graph both the function and its inverse. f(x) = 4 x 2 , x 0
-
Calculate the reaction Gibbs free energy of PCl 3 (g)1 Cl 2 (g) PCl 5 (g)at 230 8C when the partial pressures of PCl 3 , Cl 2 , and PCl 5 are 0.35 bar, 0.45 bar, and 1.02 bar, respectively. What is...
-
What are the three ways that other comprehensive income may be displayed (reported)?
-
What are the three ways that other comprehensive income may be displayed (reported)?
-
What are the three ways that other comprehensive income may be displayed (reported)?
-
On August 1, 2015, Lifters, a gym, sells 5 annual memberships for $1,500 each. What would the entry look like to record the receipt of cash as deferred revenue?
-
Lyme Incorporated issues 3,000 shares of no-par-value common stock for $20 per share. What is the correct journal entry for this transaction?
-
Unsubstantiated Expenses Your client, Randy Ross, owns a business that sells hinges, brackets, and fuses used in the manufacturing of machinery. Randy spends a large amount of time traveling to...
Study smarter with the SolutionInn App