Question

In: Finance

Use the appropriate items to calculate the following from Owen Davis Company’s balance sheet at Dec...

Use the appropriate items to calculate the following from Owen Davis Company’s balance sheet at Dec 31, 2012: total current assets, total gross fixed assets, net fixed assets, Total Assets, total current liabilities, total liabilities, total stockholder's equity, and Total Liabilities & Stockholder's Equity.

Item

Value ($000) at Dec 31,2012

Item

Value ($000) at Dec 31,2012

Accounts payable

$220

Inventories

$375

Accounts receivable

$450

Land

$100

Accruals

$55

Long-term debts

$420

Accumulated depreciation

$265

Machinery

$420

Buildings

$225

Marketable securities

$75

Cash

$215

Notes payable

$475

Common stock (at par)

$90

Paid-in capital in excess of par

$360

Cost of goods sold

$2500

Preferred stock

$100

Depreciation expense

$45

Retained earnings

$210

Equipment

$140

Sales revenue

$3600

Furniture and fixtures

$170

Vehicles

$25

General expense

$320
A.

$2,115,000;     $2,080,000; $915,000;     $2,930,000; $850,000; $2,170,000; $860,000; $2,930,000
B.

$815,000; $880,000; $615,000;     $830,000;     $550,000;     $970,000; $560,000; $1,730,000
C.

$1,115,000;     $1,080,000;     $815,000;     $1,930,000;     $750,000;     $1,170,000;     $760,000;     $1,930,000
D.

$915,000;     $980,000;     $715,000;     $930,000; $650,000;     $1,070,000;     $660,000; $1,830,000

Solutions

Expert Solution

Option C. is the correct answer

In calculation, figures are in $000

jeff jeffy answered 2 years ago
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