FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
Please answer what’s in red only.
Transcribed Image Text:38,000
Additional paid-in capital
Long-term investments
(m)
Total liabilities
(n)
Additional information: At the end of 2019, additional paid-in capital is twice the amount of common stock. In 2020, the company issued (sold) 200 shares of common stock.
Required:
Next Level Prepare the correct balance sheet. All the necessary information is provided. (Hint: It is not necessary to calculate your answers in alphabetical order.)
FERMER COMPANY
Balance Sheet
December 31
Accumulated other comprehensive income
Long-term investments
Property, plant, and equipment (net)
Intangible assets
Total liabilities and shareholders' equity
Current liabilities
Long-term liabilities
Total liabilities
✓
Total liabilities
✓
Feedback
Total shareholders' equity
✓
Common stock, $10 par
Additional paid-in capital
Total contributed capital and retained earnings
Retained earnings ✓
Accumulated other comprehensive income
X
Assets
Current assets
✓
✓
✓
(g)
23,700
38,100
X
X
✓
X
Check My Work 2 more Check My Work uses remaining.
$
2019
19,100 X
23,700 ✔
79,400 X
12,600 ✔
2019
134,800 ✔
9,200 X
28,900 X
38,100 ✔
17,000 $
34,000
51,000
40,900 ✔
4,800
96,700
134,800 ✔
2020
20,000 X
21,200 X
87,500
12,000 ✓
2020
140,700
9,800
30,200
40,000
18,000 X
36,000 X
54,000 X
41,700 X
5,000 ✓
100,700
V Check My Work
The following partially completed schedule will help you to organize the information for this exercise. You should begin by inserting the information that you have been given.
140,700
✓
✓
Transcribed Image Text:Balance Sheet Calculations
Fermer Company's balance sheet information at the end of 2019 and 2020 is as follows:
Total shareholders' equity
Accumulated other comprehensive income
Current liabilities
Intangible assets
Property, plant, and equipment (net)
Current assets
Total contributed capital
Long-term liabilities
Retained earnings
Total assets
Accumulated other comprehensive income
Long-term investments
Property, plant, and equipment (net)
Intangible assets
✓
Total liabilities and shareholders' equity
(h)
(i)
30,200
(i)
(k)
Common stock, $10 par
(1)
Working capital
9,200
Additional paid-in capital
38,000
Long-term investments
(m)
Total liabilities
(n)
Additional information: At the end of 2019, additional paid-in capital is twice the amount of common stock. In 2020, the company issued (sold) 200 shares of common stock.
Required:
Next Level Prepare the correct balance sheet. All the necessary information is provided. (Hint: It is not necessary to calculate your answers in alphabetical order.)
FERMER COMPANY
Balance Sheet
December 31
Current liabilities
Long-term liabilities
otal liabilities
✓
2019
✓
$ (a)
4,800
(b)
12,600
(c)
19,000
51,000
(d)
40,900
(e)
(f)
9,900
(9)
23,700
38,100
✓
X
2020
$100,700
5,000
9,800
12,000
87,500
X
2019
19,100 X
23,700 ✓
79,400 X
12,600 ✓
$ 134,800 ✓
$
9,200 X
28,900 X
38,100 ✓
$
2020
20,000 X
21,200 X
87,500
12,000
140,700 ✓
9,800 ✓
30,200
40,000
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