Investments Property, plant, and equipment Intangible assets Total assets Current liabilities. Long-term liabilities. Shareholders' equity Total liabilities and shareholders' equity 518,000 2,168,000 212,000 equired: $ 3,522,000 $ 424,000 938,000 2,160,000 $ 3,522,000 he captions shown in the summarized statement above include the following: a. Current assets: cash, $156,000; accounts receivable (net). $206.000; inventory, $231,000; and prepaid insurance, $3 b. Investments: investment in equity securities, short term, $96,000, and long term, $422,000. c. Property, plant, and equipment: buildings, $1,560,000 less accumulated depreciation, $606,000, equipment, $560,0 accumulated depreciation, $206,000; and land, $860,000. d. Intangible assets net of amortization: patent, $116,000; and copyright, $96,000. e. Current liabilities: accounts payable, $106,000; notes payable, short term, $156,000, and long term, $96,000; and ine payable, $66,000. f. Long-term liabilities: bonds payable due 2026. g. Shareholders' equity: common stock, $1,300,000; retained earnings, $860,000. Five hundred thousand shares of na common stock are authorized, of which 260,000 shares were issued and are outstanding.

Investments Property, plant, and equipment Intangible assets Total assets Current liabilities. Long-term liabilities. Shareholders' equity Total liabilities and shareholders' equity 518,000 2,168,000 212,000 equired: $ 3,522,000 $ 424,000 938,000 2,160,000 $ 3,522,000 he captions shown in the summarized statement above include the following: a. Current assets: cash, $156,000; accounts receivable (net). $206.000; inventory, $231,000; and prepaid insurance, $3 b. Investments: investment in equity securities, short term, $96,000, and long term, $422,000. c. Property, plant, and equipment: buildings, $1,560,000 less accumulated depreciation, $606,000, equipment, $560,0 accumulated depreciation, $206,000; and land, $860,000. d. Intangible assets net of amortization: patent, $116,000; and copyright, $96,000. e. Current liabilities: accounts payable, $106,000; notes payable, short term, $156,000, and long term, $96,000; and ine payable, $66,000. f. Long-term liabilities: bonds payable due 2026. g. Shareholders' equity: common stock, $1,300,000; retained earnings, $860,000. Five hundred thousand shares of na common stock are authorized, of which 260,000 shares were issued and are outstanding.

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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