Spicer Inc. showed the following alphabetized list of adjusted account balances at December 31, 2023. Assume...
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Spicer Inc. showed the following alphabetized list of adjusted account balances at December 31, 2023. Assume that the preferred shares are non-cumulative. Accounts Payable Accounts Receivable Accumulated depreciation, Equipment Accumulated depreciation, Warehouse Cash Cash Dividends Common Shares Equipment Income Tax Expense Land Notes Payable, due in 2026 Operating Expenses Preferred Shares Retained Earnings Revenue Warehouse $26,260 39,700 10,890 21,780 8,900 20,100 117,000 78,900 41,100 122,600 34,100 109,700 39,700 28,220 276,850 133,800 Required: Prepare a classified balance sheet at December 31, 2023. (Enter all amounts as positive values.) 1. What percentage of the total assets is owned by the shareholders? (Round your final answer to the nearest whole percent Percentage total assets 2. What percentage of Spicer Inc. is equity financed? (Round your final answer to the nearest whole percent.) Percentage of equity financed % 3. What percentage of Spicer Inc. is financed by debt? (Round your final answer to the nearest whole percent.) Percentage of financed by debt % 4. What percentage of the total assets is owned by the common shareholders? (Round your final answer to the nearest whole percent.) Percentage the total assets 5. What percentage of the assets is financed by the preferred shareholders? (Round your final answer to the nearest whole percent.) Percentage the assets % % Spicer Inc. showed the following alphabetized list of adjusted account balances at December 31, 2023. Assume that the preferred shares are non-cumulative. Accounts Payable Accounts Receivable Accumulated depreciation, Equipment Accumulated depreciation, Warehouse Cash Cash Dividends Common Shares Equipment Income Tax Expense Land Notes Payable, due in 2026 Operating Expenses Preferred Shares Retained Earnings Revenue Warehouse $26,260 39,700 10,890 21,780 8,900 20,100 117,000 78,900 41,100 122,600 34,100 109,700 39,700 28,220 276,850 133,800 Required: Prepare a classified balance sheet at December 31, 2023. (Enter all amounts as positive values.) 1. What percentage of the total assets is owned by the shareholders? (Round your final answer to the nearest whole percent Percentage total assets 2. What percentage of Spicer Inc. is equity financed? (Round your final answer to the nearest whole percent.) Percentage of equity financed % 3. What percentage of Spicer Inc. is financed by debt? (Round your final answer to the nearest whole percent.) Percentage of financed by debt % 4. What percentage of the total assets is owned by the common shareholders? (Round your final answer to the nearest whole percent.) Percentage the total assets 5. What percentage of the assets is financed by the preferred shareholders? (Round your final answer to the nearest whole percent.) Percentage the assets % %
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Classified balance sheet for Spicer Inc at December 31 2023 Classified Balance Sheet Assets Cash 890... View the full answer
Related Book For
Fundamental Accounting Principles Volume 2
ISBN: 9781260881332
17th Canadian Edition
Authors: Kermit D. Larson, Heidi Dieckmann, John Harris
Posted Date:
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