Uhura Company Revised Balance sheet
Click Link Below To Buy:
http://hwcampus.com/shop/uhura-company-revised-balance-sheet/
Uhura Company has decided to expand its operations. The bookkeeper recently completed the balance sheet presented below in order to obtain additional funds for expansion.
UHURA COMPANY
BALANCE SHEET
FOR THE YEAR ENDED 2014
Current assets
Cash $232,890
Accounts receivable (net) 342,890
Inventory (lower-of-average-cost-or-market) 403,890
Equity investments (trading)-at cost (fair value $123,660) 143,660
Property, plant, and equipment
Buildings (net) 573,660
Equipment (net) 163,660
Land held for future use 178,660
Intangible assets
Goodwill 82,890
Cash surrender value of life insurance 92,890
Prepaid expenses 14,890
Current liabilities
Accounts payable 138,660
Notes payable (due next year) 127,890
Pension obligation 85,660
Rent payable 51,890
Premium on bonds payable 55,890
Long-term liabilities
Bonds payable 503,660
Stockholders’ equity
Common stock, $1.00 par, authorized 400,000 shares, issued 292,890 292,890
Additional paid-in capital 162,890
Retained earnings ?
Prepare a revised balance sheet given the available information. Assume that the accumulated depreciation balance for the buildings is $162,890 and for the equipment, $107,890. The allowance for doubtful accounts has a balance of $19,890. The pension obligation is considered a long-term liability. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Buildings and Equipment. Enter account name only and do not provide the descriptive information provided in the quest
No comments