Question: Problem 12-11A The comparative balance sheets for Metlock, Inc. as of December 31 are presented below. Metlock, Inc. Comparative Balance Sheets December 31 Assets 2017




Problem 12-11A The comparative balance sheets for Metlock, Inc. as of December 31 are presented below. Metlock, Inc. Comparative Balance Sheets December 31 Assets 2017 2016 Cash 97,648 64,620 71,800 Accounts receivable 83,288 Inventory 217,482 203,912 30,156 21,942 Prepaid expenses Land 208,220 186,680 287,200 287,200 Buildings Accumulated depreciation-buildings (86,160) (57,440) 323,100 222,580 Equipment 64,620 (50,260) Accumulated depreciation equipment Total $1,076,612 $970,736 Liabilities and Stockholders' Equity 64,232 51,696 Accounts payable Bonds payable 430,800 430,800 Common stock, $1 par 287,200 229,760 294,380 258,480 Retained earnings $1,076,612 $970,736 Tota
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
