Question

Prepare a 2018 balance sheet for Rogers Corp. based on the following information: Cash = $136,000; Patents and copyrights = $630,000; Accounts payable = $215,000; Accounts receivable = $105,000; Tangible net fixed assets = $1,640,000; Inventory = $297,500; Notes payable = $145,000; Accumulated retained earnings = $1,260,000; Long-term debt = $854,000. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.)

Answer 1

Rogers Corp
Balane Sheet
ASSETS
Cash	1,36,000
Accounts Receivables	1,05,000
Inventory	2,97,500
Total Current Assets		5,38,500
Tangible net fixed assets		16,40,000
Intangible net fixed assets		6,30,000
Total Assets		28,08,500
LIABILITIES
Accounts Payable	2,15,000
Notes Payable	1,45,000
Total Current Liabilities		3,60,000
Long-term Debt		8,54,000
Total Liabilities		12,14,000
Common Stock (B/f)	3,34,500
Retained Earnings	12,60,000
Total Owners' Equity		15,94,500
Total liabilities & owners' equity		28,08,500