Account Balance 12/31/2013 Balance 12/31/2014 Accumulated depreciation $2,020 $2,670 Accounts payable $1,800 $2,060 Accounts receivable $2,480 $2,690
Question:
Account Balance 12/31/2013 Balance 12/31/2014
Accumulated depreciation $2,020 $2,670
Accounts payable $1,800 $2,060
Accounts receivable $2,480 $2,690
Cash $1,300 $1,090
Common stock $4,990 $4,990
Inventory $5,800 $6,030
Long-term debt $7,800 $8,200
Plant, property, and equipment $8,400 $9,200
Retained earnings $1,370 $1,090
a. construct a balance sheet for 2013 and 2014.
b. list all the working capital accounts.
c. find the net working capital for the years ending 2013 and 2014.
d. calculate the change in net working capital for the year 2014.
a. construct a balance sheet for 2013 and 2014.
Complete the balance sheet for 2013 below: (Round to the nearest dollar.)
Roman Corporation | |||||||||
Balance Sheet as of December 31, 2013, and December 31, 2014 | |||||||||
ASSETS | 2013 | 2014 | LIABILITIES | 2013 | 2014 | ||||
Current assets | Current liabilities | ||||||||
$ | $ | ||||||||
$ | Total current liabilities | $ | |||||||
$ | $ | ||||||||
Total current assets | $ | Total liabilities | $ | ||||||
Fixed assets | OWNERS’ EQUITY | ||||||||
$ | $ | ||||||||
$ | $ | ||||||||
$ | Total owners’ equity | $ | |||||||
TOTAL LIABILITIES AND | |||||||||
TOTAL ASSETS | $ | OWNERS’ EQUITY | $ | ||||||
Complete the balance sheet for 2014 below: (Round to the nearest dollar.)
Roman Corporation | |||||||||
Balance Sheet as of December 31, 2013, and December 31, 2014 | |||||||||
ASSETS | 2013 | 2014 | LIABILITIES | 2013 | 2014 | ||||
Current assets | Current liabilities | ||||||||
$ | $ | ||||||||
$ | Total current liabilities | $ | |||||||
$ | $ | ||||||||
Total current assets | $ | Total liabilities | $ | ||||||
Fixed assets | OWNERS’ EQUITY | ||||||||
$ | $ | ||||||||
$ | $ | ||||||||
$ | Total owners’ equity | $ | |||||||
TOTAL LIABILITIES AND | |||||||||
TOTAL ASSETS | $ | OWNERS’ EQUITY | $ | ||||||
b. list all the working capital accounts. (Select the best response.)
A.
The working capital accounts are the current assets and current liabilities of the company.
B.
The working capital accounts are the current assets and long-term liabilities of the company.
C.
The working capital accounts are the current assets and fixed assets of the company.
D.
The working capital accounts are the current assets and total liabilities of the company.
c. find the net working capital for the years ending 2013 and 2014.
The net working capital for the year ending 2013 is
$nothing.
(Round to the nearest dollar.)The net working capital for the year ending 2014 is
$nothing.
(Round to the nearest dollar.)
d. calculate the change in net working capital for the year 2014.
The change in net working capital for the year 2014 is $nothing.
(Round to the nearest dollar.)
Expert Answer:
a The Balance Sheets for the two years are Assets Current Assets Cash Accounts Receivable Invento... View the full answer
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
