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

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