Question: Help me deal with this complex accounting problem..i cant comprehend..explain it to me step by step WATERS CORPORATION Balance Sheet December 31, 2013 Current assets:

Help me deal with this complex accounting problem..i cant comprehend..explain it to me step by step

Help me deal with this complex accounting problem..i cant comprehend..explain it to

WATERS CORPORATION Balance Sheet December 31, 2013 Current assets: Assets Cash Accounts receivable, net Inventory 100,325 194,625 Total current assets Property, Plant and Equipment Equipment 3.764,800 Less: accumulated depreciation 238.000 Total property, plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable 160,500 Wages payable 24,010 Total current liabilities 184,510 Long-term liabilities: Notes payable S 27 890 Mortgage payable 837.600 Total long-term liabilities 865,490 Total liabilities 1,050,000 Stockholders' equity Paid in capital 10% preferred stock, $100 par value, noncumulative, 7,500 shares S 1075bo authorized, 7500 shares issued and outstanding Common stock, $5 par value, 350,000 shares authorized 40 000 shares issued, 31oooo shares outstanding 10 0700 Paid in capital in excess of par - preferred stock Paid in capital in excess of par - common stock Paid in capital from treasury stock 3004820 Total paid in capital 44 7300 Retained earnings 345 1500 Total paid-in capital and retained earnings 10400 shares (at cost) 7200 Less: Treasury stock - common 344430 Total stockholders' equity 5 144 6 635 Total liabilities and stockholders' equityWATERS CORPORATION Balance Sheet December 31, 2013 Current assets: Assets Cash Accounts receivable, net Inventory 100,325 194,625 Total current assets Property, Plant and Equipment Equipment 3.764,800 Less: accumulated depreciation 238.000 Total property, plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable 160,500 Wages payable 24,010 Total current liabilities 184,510 Long-term liabilities: Notes payable S 27 890 Mortgage payable 837.600 Total long-term liabilities 865,490 Total liabilities 1,050,000 Stockholders' equity Paid in capital 10% preferred stock, $100 par value, noncumulative, 7,500 shares S 1075bo authorized, 7500 shares issued and outstanding Common stock, $5 par value, 350,000 shares authorized 40 000 shares issued, 31oooo shares outstanding 10 0700 Paid in capital in excess of par - preferred stock Paid in capital in excess of par - common stock Paid in capital from treasury stock 3004820 Total paid in capital 44 7300 Retained earnings 345 1500 Total paid-in capital and retained earnings 10400 shares (at cost) 7200 Less: Treasury stock - common 344430 Total stockholders' equity 5 144 6 635 Total liabilities and stockholders' equity

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!