The following are some items of the balance sheet for Hofa, Inc., for the year ended...

 

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The following are some items of the balance sheet for Hofa, Inc., for the year ended December 31, 2019. 1. Prepare a balance sheet for December 31, 2019. (8 marks) 2. If the company is to announce 10% stock dividends, who do think this will impact the balance sheet? (2 marks) Finished Goods $ 8,532 Current Maturities of Long-Term Debt Accumulated Depreciation Accounts Receivable Sales Revenue 1,197 8,957 25,101 127, 260 Treasury Stock Prepaid Expenses Deferred Taxes (long-term liability) Interest Expense Allowance for Doubtful Accounts Retained Earnings Raw Materials Accounts Payable Cash and Cash Equivalents Sales Salaries Expense Cost of Goods Sold Investment in Unconsolidated Subsidiaries Income Taxes Payable Work In Process Additional Paid-In Capital Equipment Long-Term Debt Rent Income Common Stock Notes Payable (short-term) Income Tax Expense 251 2,199 8,237 2,410 915 18,951 9, 576 19,021 8, 527 872 82,471 3,559 8,356 1,904 9,614 41, 905 15, 258 2,468 3,095 7,233 2,461 The following are some items of the balance sheet for Hofa, Inc., for the year ended December 31, 2019. 1. Prepare a balance sheet for December 31, 2019. (8 marks) 2. If the company is to announce 10% stock dividends, who do think this will impact the balance sheet? (2 marks) Finished Goods $ 8,532 Current Maturities of Long-Term Debt Accumulated Depreciation Accounts Receivable Sales Revenue 1,197 8,957 25,101 127, 260 Treasury Stock Prepaid Expenses Deferred Taxes (long-term liability) Interest Expense Allowance for Doubtful Accounts Retained Earnings Raw Materials Accounts Payable Cash and Cash Equivalents Sales Salaries Expense Cost of Goods Sold Investment in Unconsolidated Subsidiaries Income Taxes Payable Work In Process Additional Paid-In Capital Equipment Long-Term Debt Rent Income Common Stock Notes Payable (short-term) Income Tax Expense 251 2,199 8,237 2,410 915 18,951 9, 576 19,021 8, 527 872 82,471 3,559 8,356 1,904 9,614 41, 905 15, 258 2,468 3,095 7,233 2,461

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Answer Solution HOFA INC Balance Sheet As On 31122019 Particular Amount Amount Particular Amount Amo... View the full answer