Determining Reported Amounts Partial balance sheet data for Bell Corporation at August 28, 2000, were as follows:

a. What is the amount of total assets at August 28, 2001?

b. Bell reported inventory of $177,000 at the beginning of the period, purchased inventory costing $303,000 during the period, and sold inventory that had cost $357,000.
What is the amount of inventory at August 28, 2001?

c. What is the balance in accumulated depreciation at August 28, 2001?

d. If wages payable increased by $2,500 during the period, what was the balance at the start of the period?

e. Bell had 8,000 shares of common stock outstanding and additional paid-in capital of $23,000 at the beginning of the period. How many additional shares were issued during the period?

f. What was the price per share received by Bell Corporation for the shares issued?
g. What is the balance in retained earnings at August 28, 2001?

Transcribed Image Text:

Bell Corporation Balance Sheet August 28, 2001 Cash Accounts receivable Inventory Buildings and equipment Less accumulated depreciation Total Accounts payable Wages payable Notes payable Common stock ($2 par value) Additional paid-in capital Retained earnings Total $ 65,000 94,000 ? $425,000 ? 255,000 $ ? $ 51,000 19,000 200,000 18,000 45,000 ? $537,000