FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Balance Sheet Calculations

Dawson Company's balance sheet information at the end of 2019 and 2020 is as follows:

  2019 2020
Current assets $ (a) $25,000
Long-term liabilities (b) 34,900
Total contributed capital (c) (g)
Long-term investments 19,200 (h)
Retained earnings 50,300 61,100
Total liabilities (d) (i)
Intangible assets 10,400 9,000
Current liabilities 14,500 12,000
Common stock, $5 par (e) 20,000
Total assets 142,800 (j)
Additional paid-in capital 15,000 (k)
Property, plant, and equipment (net) 85,700 92,800
Accumulated other comprehensive income 7,000 6,000
Total shareholders' equity (f) (l)

Additional information: The company did not issue any common stock during 2020.

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.)

 

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