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 1 year ago
Next > < Previous

Related Solutions

The following are excerpts from the balance sheet of a company. Particulars Dec 31, 2013 Dec...
The following are excerpts from the balance sheet of a company. Particulars Dec 31, 2013 Dec 31, 2012 Furniture 1,32,000 1,84,500 Accumulated Depreciation (88,700) (1,10,700) The income statement reports depreciation expense for the year as Rs 18,000. Also, furniture costing Rs 52,500 was sold for its book value. Compute the ash received from the sale.
Which items from a bond amortization table are reflected on a company’s Balance Sheet? a) Cash...
Which items from a bond amortization table are reflected on a company’s Balance Sheet? a) Cash paid and Premium/Discount amortization only b) None of the above. c) Interest Expense only d) Interest expense, Cash Paid and Premium/Discount amortization. e) Interest Expense and Cash paid only
Classified Balance Sheet The following balance sheet items, listed in alphabetical order, are available from the...
Classified Balance Sheet The following balance sheet items, listed in alphabetical order, are available from the records of Ruth Corporation at December 31, 2017: Accounts payable $19,330 Income taxes payable $5,640 Accounts receivable 24,820 Interest payable 1,635 Accumulated depreciation - automobiles 21,580 Inventory 47,320 Accumulated depreciation - buildings 42,350 Land 255,000 Automobiles 107,900 Long-term investments 76,810 Bonds payable, due December 31, 2021 145,000 Notes payable, due June 30, 2018 10,000 Buildings 211,750 Office supplies 2,535 Capital stock, $10 par value...
Classified Balance Sheet The following balance sheet items, listed in alphabetical order, are available from the...
Classified Balance Sheet The following balance sheet items, listed in alphabetical order, are available from the records of Ruth Corporation at December 31, 2017: Accounts payable $18,800 Income taxes payable $6,010 Accounts receivable 21,180 Interest payable 1,495 Accumulated depreciation - automobiles 23,800 Inventory 42,330 Accumulated depreciation - buildings 43,900 Land 245,000 Automobiles 119,000 Long-term investments 93,445 Bonds payable, due December 31, 2021 172,000 Notes payable, due June 30, 2018 11,000 Buildings 219,500 Office supplies 2,495 Capital stock, $10 par value...
Arrange the following items in the appropriate income statement and balance sheet formats. Determine in which...
Arrange the following items in the appropriate income statement and balance sheet formats. Determine in which of these two documents each of these items belongs, then include all appropriate items in outlines of an income statement and balance sheet. Prepare your response as a Word document. Sales Cash Depreciation expense Inventory Accounts payable Cost of goods sold Long-term debt Accrued expenses Accounts receivable Income tax payable Income tax expense Retained earnings Accumulated depreciation Prepaid expenses Interest expense Sales tax payable...
In what section of the balance sheet should the following items appear, and what balance sheet terminology would you use?
In what section of the balance sheet should the following items appear, and what balance sheet terminology would you use? (a) Treasury stock (recorded at cost). (b) Checking account at bank. (c) Land (held as an investment). (d) Sinking fund. (e) Unamortized premium on bonds payable. (f) Copyrights. (g) Pension fund assets. (h) Premium on common stock. (i) Long-term investments (pledged against bank loans payable).
Which of the following items are included on the balance sheet?
the balance sheet is a snapshot of the entity. Which of the following items are included on the balance sheet?A.assetsB.RevemuesC.expensesD.withdrawls
The following table presents selected details from the balance sheet of Davis Corporation: 2020 2019 Accounts...
The following table presents selected details from the balance sheet of Davis Corporation: 2020 2019 Accounts Receivable 224,000 250,000 Inventory 187,000 160,000 Prepaid Insurance 10,000 6,000 Prepaid Rent 7,000 9,000 Accumulated Depreciation (620,000) (580,000) Deferred Revenue 36,500 42,000 Salary Payable 17,000 15,000 Accounts Payable 14,200 14,700 Additional information: Sold land with a book value of 145,000 for 170,000 Bonds with a net book value of 175,000 were paid off early by paying 172,500 cash Stock option compensation expense was 1,000...
Prepare a balance sheet Place the appropriate account in the balance sheet and the appropriate amount....
Prepare a balance sheet Place the appropriate account in the balance sheet and the appropriate amount. If the item does not belong on a balance sheet do not put the item on the balance sheet. Cash = $270,000; Notes payable = $300,000; Receivables Turnover = 20; Sales = $5,000,000;    Total current assets = $750,000; Net working capital = $350,000; Total assets = $10,000,000; Retained earnings = $2,500,000; Common Stock = ?; Fixed Assets = ?; Accounts Payable = ? Inventory...
Balance Sheet at Dec 31, 2019                                     &nbs
Balance Sheet at Dec 31, 2019                                                                     Assets 2019 2018 Cash $12,000 $33,750 Accounts Receivables 65,250 58,500 Inventories 30,000 24,000 Long term investments (FV-NI) 23,250 40,500 Equipment 30,000 18,750 Accumulated Depreciation- equipment (5,625) (2,250) Building 67,500 56,250 Accumulated Depreciation- building (13,500) (9,000) Land 32,500 32,500 Total Assets $241,375 $253,000 Liabilities & Shareholder’s Equities Accounts Payable 30,000 24,750 Accrued Payables 2,375 1,125 Income tax payable 1,000 1,500 Long term note payable 26,000 31,000 Common Shares, issued & outstanding 150,000 150,000 Retained Earnings...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT