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As an Optional Challenge problem: create a balance sheet at end of year 8 on the...

As an Optional Challenge problem: create a balance sheet at end of year 8 on the accrual basis of accounting. Remember that for each event above, asset entries must equal entries for liabilities and stockholders’ equity (A = L + E).

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BALANCE SHEET

CURRENT ASSETS   

CASH AND CASH EQUIVALENTS $ 20,289

SHORT TERM MARKETABLE SECURITES 53,892

ACCOUNTS RECEIVABLE ,LESS ALLOWANCES OF $58 and 53 17,874

INVENTORIES 4,855

VENDOR NON -TRADE RECEIVABLES 17,799

OTHER CURRENT ASSETS 13,936

TOTAL CUURENT ASSETS = 128,645

LONG TERM MARKETABLE SECURITIES 194,714

PROPERT,PLANT AND EQUIPMENT 33,783

GOODWILL 5,717

ACCQUIRED INTANGIBLE ASSETS 2,298

OTHER NON-CURRENT ASSETS 10,162

TOTAL ASSETS = $ 375,319

LIABILITIES AND SHAREHOLDERS EQUITY

CURRENT LIABILITIES   

ACCOUNTS PAYABLE $     49,049

ACCURED EXPENSES 25,744

DEFERRED REVENUE    7,548

COMMERICAL PAPER 11,977

CURRENT PORTION OF LONG TERM DEBT 6,496

TOTAL CUURENT LIABILITIES 100,814

DEFEERED REVENUE,NON -CURRENT 2,836

LONG -TERM DEBT 97,207

OTHER NON -CURRENT LIABILTIES 40,415

TOTAL LIABILITIES = 241,272

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS EQUITY

Common stock and additional paid in capital ,$0.00001 par value ;12,600,000 shares,authorized; 5,126,201 and 5,336,166 shares issued and outstanding Respectively. 35,867

RETAINED EARNINGS 98,330

ACCUMALATED OTHER COMPREHENSIVE INCOME(LOSS) (150)

Total shareholders equity = 134,047

Total liabilites and shareholders equity $ = 375,319

jeff jeffy answered 2 years ago
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