Question

Prepare a 2018 balance sheet for Rogers Corp. based on the following information: Cash = $140,000; Patents and copyrights = $630,000; Accounts payable = $218,000; Accounts receivable = $107,500; Tangible net fixed assets = $1,650,000; Inventory = $299,500; Notes payable = $165,000; Accumulated retained earnings = $1,252,000; Long-term debt = $858,000.

Answer 1

Rogers Corp.

Balance Sheet as on -------2018

	$
Assets
Cash	140,000
Accounts Receivable	107,500
Inventory	299,500
Total Current Assets	547,000
Net Fixed Assets	1,650,000
Patents and copyrights	630,000
Total Fixed Assets	2,280,000
Total Assets	2,827,000
Liabilities
Accounts Payable	218,000
S.T notes Payable	165,000
Total Current Liabilities	383,000
L.T.Debt	858,000
Common Stock (Bal. Fig.)	334,000
Retained Earnings	1,252,000
Total Equity	1,586,000
Total Liabilities & Equity	2,827,000