Question: please help me to solve this problem As controller for Henderson, you are attempting to reconstruct and revise the following balance sheet prepared by a


As controller for Henderson, you are attempting to reconstruct and revise the following balance sheet prepared by a staff aco Additional informotion ( $ in 000 s): 1. Certain records that included the account balances for the franchise and shareholders' equity items were lost. However, a complete, preliminary balance sheet prepared before the records were lost showed a debt to equity ratio of 1.5. That is, total Ilabilities are 150% of total shareholders' equity. Retained earnings at the beginning of the year was $3.900. Net income for 2021 was $3,000, and $1,000 in cash dividends were declared and paid to shareholders. 2. The investments represent treasury bills purchased in December 2021 that mature in January 2022 . These are considered cash equivalents. 3. Interest on both the notes and the bonds is payable annually. 4. The notes payable account contains one note that is due in annual instaliments of $1,500 for each payment due. 5. Deferred revenue will be recognized equally over the next 18 months. 6. The common stock represents 500,000 shares of no par stock authorized, of which 300,000 shares are issued and outstanding. Required: Prepare a complete, corrected, classified balance sheet. (Do not round your intermediate calculations. Enter your answers in the order of their liquidity. Amounts to be deducted should be indicated by a minus sign. Enter your answers in thousands of dollares As controller for Henderson, you are attempting to reconstruct and revise the following balance shet prepared by a staff accountant. Additional information (S in 000s): 1. Certain records that included the account balances for the franchise and sharehoiders' equity items were lost. However, a complete, preliminary balance sheet prepared before the records were lost showed a debt to equity tatio of 15 . That is total Llabilities are 150% of total shareholder' equity. Retained earnings at the beginning of the year was $3,900. Net income for 2021 Was $3,000, and $1,000 in cash dividends were declared and poid to shareholders. 2. The investments represent treasury bills purchased in December 2021 that mature in January 2022. These are considered cash equivalents: 3. Interest on both the notes and the bonds is payable annualy. 4. The notes payable account contains one note that is due in annual installments of $1,500 for each payment due. 5. Deferred revenue will be recognized equally over the next 18 months. 6. The common stock represents 500,000 shares of no par stock authorized, of which 300,000 shares are issued and utstanding. Required: Prepare a complete, corrected, classified balance sheet. (Do not round your intermediate calculations. Enter your answers in the order of their liquidity. Amounts to be deducted should be indicoted by a minus sign. Enter your onswers in thousands of dollors.)
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