Quinn Company’s balance sheet information at the end of 2016 and 2017 is as follows:

2016 2017

Total shareholders’ equity	$ (n)	$ 145,600
Accumulated other comprehensive income	14,800	5,000
Current liabilities	(m)	24,900
Intangible assets	15,000	13,900
Property, plant, and equipment (net)	(l)	96,700
Current assets	25,000	(j)
Total contributed capital	123,900	(i)
Long-term liabilities	(k)	78,000
Retained earnings	67,850	(h)
Total assets	(e)	(d)
Common stock, $5 par	(f)	(c)
Working capital	23,500	33,800
Additional paid-in capital	(g)	45,000
Long-term investments	28,900	(b)
Total liabilities	5,500	(a)

At the end of 2016, additional paid-in capital was twice the amount of common stock. During 2017 the company issued 1,000 shares of common stock.

Required:

Fill in the blanks lettered a through n. It is not necessary to calculate the information in alphabetical order.

Solutions

Expert Solution

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

Balance Sheet Calculations Dawson Company's balance sheet information at the end of 2016 and 2017 is...

Balance Sheet Calculations Dawson Company's balance sheet information at the end of 2016 and 2017 is as follows: 2016 2017 Current assets $ (a) $25,000 Long-term liabilities (b) 34,900 Total contributed capital (c) (g) Long-term investments 19,200 (h) Retained earnings 51,300 61,100 Total liabilities (d) (i) Intangible assets 10,400 9,000 Current liabilities 14,500 12,000 Common stock, $5 par (e) 20,000 Total assets 142,800 (j) Additional paid-in capital 15,000 (k) Property, plant, and equipment (net) 85,700 92,800 Accumulated other comprehensive income...

The balance sheet data of Pronghorn Company at the end of 2017 and 2016 follow. 2017...

The balance sheet data of Pronghorn Company at the end of 2017 and 2016 follow. 2017 2016 Cash $29,000 $35,400 Accounts receivable (net) 55,400 44,500 Inventory 64,300 44,600 Prepaid expenses 15,200 25,000 Equipment 90,800 74,800 Accumulated depreciation—equipment (18,100 ) (8,800 ) Land 79,900 39,600 $316,500 $255,100 Accounts payable $63,600 $49,000 Accrued expenses 15,000 18,000 Notes payable—bank, long-term –0– 22,800 Bonds payable 30,200 –0– Common stock, $10 par 200,400 160,100 Retained earnings 7,300 5,200 $316,500 $255,100 Land was acquired for $40,300...

The balance sheet data of Ivanhoe Company at the end of 2017 and 2016 follow. 2017...

The balance sheet data of Ivanhoe Company at the end of 2017 and 2016 follow. 2017 2016 Cash $29,000 $34,900 Accounts receivable (net) 55,200 44,900 Inventory 64,900 44,600 Prepaid expenses 15,100 24,900 Equipment 90,100 75,600 Accumulated depreciation—equipment (18,200 ) (7,200 ) Land 80,600 39,800 $316,700 $257,500 Accounts payable $67,200 $53,300 Accrued expenses 14,800 17,900 Notes payable—bank, long-term –0– 23,000 Bonds payable 29,700 –0– Common stock, $10 par 198,700 157,900 Retained earnings 6,300 5,400 $316,700 $257,500 Land was acquired for $40,800...

The balance sheet data of Ivanhoe Company at the end of 2017 and 2016 are shown...

The balance sheet data of Ivanhoe Company at the end of 2017 and 2016 are shown below. 2017 2016 Cash $29,800 $35,300 Accounts receivable (net) 54,500 44,900 Inventory 65,000 44,900 Prepaid expenses 15,200 24,700 Equipment 90,000 74,700 Accumulated depreciation—equipment (18,000 ) (8,100 ) Land 70,500 40,000 $307,000 $256,400 Accounts payable $64,900 $51,700 Accrued expenses 15,000 17,800 Notes payable—bank, long-term –0– 22,800 Bonds payable 30,000 –0– Common stock, $10 par 188,000 157,500 Retained earnings 9,100 6,600 $307,000 $256,400 Land was acquired...

Upham Company’s June 30, 2016, balance sheet included the following information: Upham Company Partial Balance Sheet...

Upham Company’s June 30, 2016, balance sheet included the following information: Upham Company Partial Balance Sheet June 30, 2016 1 Accounts Receivable $248,000.00 2 Less: Allowance for Doubtful Accounts (14,400.00) $233,600.00 3 Notes Receivable 21,400.00 4 Total Receivables $255,000.00 5 * The company has a recourse liability of $2,450 for notes receivable sold with recourse. During the company’s fiscal year ending June 30, 2017, the following transactions occurred: 1. Sales on credit $870,400 2. Collections of accounts receivable 842,800 3....

2. Ancy corporation’s balance sheet accounts as of December 31, 2017 and 2016 and information relating...

2. Ancy corporation’s balance sheet accounts as of December 31, 2017 and 2016 and information relating to 2015 activities are presented below. December 31, 2017 2016 Assets Cash $ 440,000 $ 200,000 Short-term investments 600,000 — Accounts receivable (net) 1,020,000 1,020,000 Inventory 1,380,000 1,200,000 Long-term investments 400,000 600,000 Plant assets 3,400,000 2,000,000 Accumulated depreciation (900,000) (900,000) Patent 180,000 200,000 Total assets $6,520,000 $4,320,000 Liabilities and Stockholders' Equity Accounts payable and accrued liabilities $1,660,000 $1,440,000 Notes...

The information that follows relates to GAP latest Balance Sheet (dated December 31, 2017). The figures...

The information that follows relates to GAP latest Balance Sheet (dated December 31, 2017). The figures are presented in Thousands of U.S. Dollars unless noted otherwise. Using the information presented below, prepare and present a properly formatted Balance Sheet. Present the Balance Sheet in any format you wish (T-account or report format) so long as it is professional looking and complete. Accounts Payable $16,670 Accumulated Depreciation/Amortization on PPE 27,250 Additional Paid-in-Capital 46,400 Allowance for Doubtful accounts 350 Cash 110,325 Common...

The information that follows relates to TZC & Associates' latest Balance Sheet (dated December 31, 2017)....

The information that follows relates to TZC & Associates' latest Balance Sheet (dated December 31, 2017). The figures are presented in Thousands of U.S. Dollars unless noted otherwise. Using the information presented below, prepare and present a properly formatted Balance Sheet. Present the Balance Sheet in any format you wish (T-account or report format) so long as it is professional looking and complete. Accounts Payable $16,670 Accumulated Depreciation/Amortization on PPE 27,250 Additional Paid-in-Capital 46,400 Allowance for Doubtful accounts 350 Cash...

The information that follows relates to TZC & Associates' latest Balance Sheet (dated December 31, 2017)....

The information that follows relates to TZC & Associates' latest Balance Sheet (dated December 31, 2017). The figures are presented in Thousands of U.S. Dollars unless noted otherwise. Using the information presented below, prepare and present a properly formatted Balance Sheet. Accounts Payable $16,670 Accumulated Depreciation/Amortization on PPE 27,250 Additional Paid-in-Capital 46,400 Allowance for Doubtful accounts 350 Cash 110,325 Common Stock (1.5 million shares out @ $1/share par) 1,500 Copyrights 22,000 Current portion of Long-term Debt 8,900 Deferred Tax Liability...

Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for...

Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.7 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20% Total liabilities-to-assets ratio: 50% Quick ratio: 0.80 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.25 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales $...

Subjects