Question: Prepare a 2011 balance sheet for Cornell Corp. based on the following information: cash = $142,000; patents and copyrights = $630,000; accounts payable = $219,500;
| Prepare a 2011 balance sheet for Cornell Corp. based on the following information: cash = $142,000; patents and copyrights = $630,000; accounts payable = $219,500; accounts receivable = $162,500; tangible net fixed assets = $1,655,000; inventory = $300,500; notes payable = $115,000; accumulated retained earnings = $1,248,000; long-term debt = $860,000. (Be sure to list the accounts in order of their liquidity.) **** only need help answering Common stock and Total liabilities & Owners equity Assets Cash- 142000 Accounts receivable- 162500 Inventory- 300, 500 Current assests-605000 tangible net fixed assets- 1655000 Intangible net fixed assets- 630000 Total assets- 2890000 Liabilities Accounts payable- 219500 Notes payable-115,000 Current liabilities- 334500 Long-term debt- 860,000 Total liabilities-1194500 Common stock??????? Accumulated retained earnings- 1248000 Total Liabilities & owners' equity???
| ||||||
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
Study Help