Please answer what’s in red only. 38,000Additional paid-in capitalLong-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 COMPANYBalance SheetDecember 31Accumulated other comprehensive incomeLong-term investmentsProperty, plant, and equipment (net)Intangible assetsTotal liabilities and shareholders' equityCurrent liabilitiesLong-term liabilitiesTotal liabilities✓Total liabilities✓FeedbackTotal shareholders' equity✓Common stock, $10 parAdditional paid-in capitalTotal contributed capital and retained earningsRetained earnings ✓Accumulated other comprehensive incomeXAssetsCurrent assets✓✓✓(g)23,70038,100XX✓XCheck My Work 2 more Check My Work uses remaining.$201919,100 X23,700 ✔79,400 X12,600 ✔2019134,800 ✔9,200 X28,900 X38,100 ✔17,000 $34,00051,00040,900 ✔4,80096,700134,800 ✔202020,000 X21,200 X87,50012,000 ✓2020140,7009,80030,20040,00018,000 X36,000 X54,000 X41,700 X5,000 ✓100,700V Check My WorkThe 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✓✓ Balance Sheet CalculationsFermer Company's balance sheet information at the end of 2019 and 2020 is as follows:Total shareholders' equityAccumulated other comprehensive incomeCurrent liabilitiesIntangible assetsProperty, plant, and equipment (net)Current assetsTotal contributed capitalLong-term liabilitiesRetained earningsTotal assetsAccumulated other comprehensive incomeLong-term investmentsProperty, plant, and equipment (net)Intangible assets✓Total liabilities and shareholders' equity(h)(i)30,200(i)(k)Common stock, $10 par(1)Working capital9,200Additional paid-in capital38,000Long-term investments(m)Total liabilities(n)Additional information: At the end of 2019, additional paid-in capital is twice the amount of common stock. In 2020, the company issued (sold) 200 shares of common stock.Required:Next Level Prepare the correct balance sheet. All the necessary information is provided. (Hint: It is not necessary to calculate your answers in alphabetical order.)FERMER COMPANYBalance SheetDecember 31Current liabilitiesLong-term liabilitiesotal liabilities✓2019✓$ (a)4,800(b)12,600(c)19,00051,000(d)40,900(e)(f)9,900(9)23,70038,100✓X2020$100,7005,0009,80012,00087,500X201919,100 X23,700 ✓79,400 X12,600 ✓$ 134,800 ✓$9,200 X28,900 X38,100 ✓$202020,000 X21,200 X87,50012,000140,700 ✓9,800 ✓30,20040,000

The balance sheet is an essential part of financial statements and it represents a summary of…

Balance Sheet Calculations Fermer Company's balance sheet information at the end of 2019 and 2020 is as follows: 2020 $100,700 5,000 9,800 12,000 87,500 (h) (1) 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: 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 2019 $ (a) 4,800 (b) 12,600 (c) 19,000 51,000 (d) 40,900 (e) (f) 9,900 (9) 23,700 38,100 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 Shoot

Balance Sheet Calculations Fermer Company's balance sheet information at the end of 2019 and 2020 is as follows: 2020 $100,700 5,000 9,800 12,000 87,500 (h) (1) 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: 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 2019 $ (a) 4,800 (b) 12,600 (c) 19,000 51,000 (d) 40,900 (e) (f) 9,900 (9) 23,700 38,100 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 Shoot

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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