Question
In: Finance
Determine the amount of long-term debt for ABC Co. using the following balance sheet information: cash...
Determine the amount of long-term debt for ABC Co. using the following balance sheet information: cash balance of $24,723, accounts payable of $95,591, common stock of $401,194, retained earnings of $500,129, inventory of $204,960, other assets equal to $76,133, net plant and equipment of $707,654, short-term notes payable of $30,000, and accounts receivable of $142,312.
Solutions
Expert Solution
Total assets=cash+inventory+other assets+net plant and equipment+AR
=24723+204960+76133+707,654+142,312
=$1155782
Total equity=common stock+retained earnings
=401,194+500,129
=$901323
Current liabilities=AP+short term notes payable
=95,591+30,000
=$125591
Total assets=Total liabilities+Total equity
Total liabilities=1155782-901323
=$254459
Total liabilities=Current liabilities+Long term debt
Long term debt=254459-125591
=$128868
jeff jeffy answered 2 years agoRelated Solutions
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Long-term liabilities
Long-term debt violation at the balance sheet
date
Note: In the following exercise, you are required to review the
Basis for Conclusions (BCs) for the standard(s) that provide the
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Balance Sheet Data Long-Term Debt 80,000,000 &nb
Balance Sheet Data
Long-Term
Debt
80,000,000
Preferred Stock
20,000,000
Common Equity
20,000,000
Number of shares of Common
1,500,000
Price per share
Common
$42
Number of shares of
Preferred
150,000
Price per share
Preferred
$108
Number of 8% Coupon 25-year Bonds
40,000
Price of 8% 25-year Bonds $1075
Number of 6% Coupon 15-year Bonds
40,200
Price of 6% 15-year Bonds $920
Forecasted Dividend on Common
(D1)
$3.30
Dividend Rate on
Preferred ...
Balance Sheet Data Long-Term Debt 80,000,000 &nb
Balance Sheet Data
Long-Term
Debt
80,000,000
Preferred Stock
20,000,000
Common Equity
20,000,000
Number of shares of Common
1,500,000
Price per share
Common
$42
Number of shares of
Preferred
150,000
Price per share
Preferred
$108
Number of 8% Coupon 25-year Bonds
40,000
Price of 8% 25-year Bonds $1075
Number of 6% Coupon 15-year Bonds
40,200
Price of 6% 15-year Bonds $920
Forecasted Dividend on Common
(D1)
$3.30
Dividend Rate on
Preferred ...
Balance Sheet Data Long-Term Debt 80,000,000 &nb
Balance Sheet Data
Long-Term
Debt
80,000,000
Preferred
Stock
20,000,000
Common
Equity
20,000,000
Number of shares of Common
1,500,000
Price per share
Common
$42
Number of shares of
Preferred
150,000
Price per share
Preferred
$108
Number of 8% Coupon 25-year Bonds
40,000
Price of 8% 25-year
Bonds
$1075
Number of 6% Coupon 15-year Bonds
40,200
Price of 6% 15-year
Bonds
$920
Forecasted Dividend on Common
(D1)
$3.25
Dividend Rate on
Preferred 9.5%
Par...
Balance Sheet Data Long-Term Debt 80,000,000 &nb
Balance Sheet Data
Long-Term
Debt
80,000,000
Preferred Stock
20,000,000
Common Equity
20,000,000
Number of shares of Common
1,500,000
Price per share
Common
$42
Number of shares of
Preferred
150,000
Price per share
Preferred
$108
Number of 8% Coupon 25-year Bonds
40,000
Price of 8% 25-year Bonds $1075
Number of 6% Coupon 15-year Bonds
40,200
Price of 6% 15-year Bonds $920
Forecasted Dividend on Common
(D1)
$3.30
Dividend Rate on
Preferred ...
Construct a balance sheet given the following information: Inventory = $5800; Long-term debt = $7800; Common stock...
Construct a balance sheet given the following
information: Inventory = $5800; Long-term debt = $7800;
Common stock = $4990; Accounts payable = $1800; Retained earnings =
$1370; Cash = $1300; Accumulated depreciation
= $2020; Accounts receivable =
$2480; Property and Equipment = $8400.
prepare classified balance sheet using the following information building not in use $22100 long term notes...
prepare classified balance sheet using the following information
building not in use $22100 long term notes payable $20000 interest
payable $420 deposit for advertising $1840 salaries payable $3850
cash $21400 accounts payable $62300 trademark $2000 Accumulated
depreciation equipment $1420 deliver equipment $ 21600 land $15700
notes receivable $143500 prepaid insurance $2400 income tax payable
$1890 common stock $145000 office supplies $220 prepaid rent $1050
merchandise inventory $72500 sales supplies $650 investment (stocks
and bonds) $17150. what is retained earnings?
Use the information below for ABC Co. to answer the following questions. Balance Sheet
Use the information below for ABC Co. to answer the
following questions.
Balance
Sheet December
31
2005 2004
Assets
Cash $ 20,000 $ 10,000
Accounts
receivable 160,000 110,000
Inventories
80,000 50,000
Prepaid
Rent 15,000
10,000
Investments 100,000 75,000
Plant
assets 210,000 250,000
Accumulated depreciation
(65,000) (60,000)
Total
$520,000 $445,000
Liabilities and Stockholders' Equity
Accounts
payable $ 50,000 $ 40,000
Interest payable
20,000 5,000
Income tax
payable 5,000 10,000
Note
payable 130,000 140,000
Common
stock 155,000 100,000
Retained earnings
160,000 150,000
Total
$520,000 $445,000
Income Statement
For the Year Ended December 31, 2005
Sales $800,000
Cost of goods
sold 480,000
Gross
Profit 320,000
Operating expenses (including Depreciation Expense) 120,000
Interest expense 20,000
Income...
Use the information below for ABC Co. to answer the following questions. Balance Sheet
Use the information below for ABC Co. to answer the
following questions.
Balance
Sheet December
31
2005 2004
Assets
Cash $ 20,000 $ 10,000
Accounts
receivable 160,000 110,000
Inventories
80,000 50,000
Prepaid
Rent 15,000
10,000
Investments 100,000 75,000
Plant
assets 210,000 250,000
Accumulated depreciation
(65,000) (60,000)
Total
$520,000 $445,000
Liabilities and Stockholders' Equity
Accounts
payable $ 50,000 $ 40,000
Interest payable
20,000 5,000
Income tax
payable 5,000 10,000
Note
payable 130,000 140,000
Common
stock 155,000 100,000
Retained earnings
160,000 150,000
Total
$520,000 $445,000
Income Statement
For the Year Ended December 31, 2005
Sales $800,000
Cost of goods
sold 480,000
Gross
Profit 320,000
Operating expenses (including Depreciation Expense) 120,000
Interest expense 20,000
Income...
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