Question
Balance Sheet Preparation : Standard Steele is a leading manufacturer and retailer of steel structures to build bridges. The following is adapted from December 31,
-
Balance Sheet Preparation: Standard Steele is a leading manufacturer and retailer of steel structures to build bridges. The following is adapted from December 31, 2018 annual financial report. Dollars are reported in thousand. Balances are shown in no particular order. The accounts have normal balances.
Account Name
Balance
Account Name
Balance
Accounts Payable
$30,000
Retained Earnings
$60,000
Accounts Receivable
$30,000
Inventories
$20,000
Notes Payable (3 month)
$6,000
Long-term Note Payable
$20,000
Cash
$50,000
Property, Plant, & Equipment (net)
$110,000
Common Stock
$80,000
Income Taxes Payable
$14,000
Make sure your accounting equation (A=L + OE) is in balance or some of your answers are wrong!
Q18. Current Assets:
A. 95,000
B. 100,000
C. 125,000
D. 155,000
- Total Assets:
- Current Liabilities:
- Total Liabilities:
Balance Sheet Preparation: Standard Steele is a leading manufacturer and retailer of steel structures to build bridges. The following is adapted from December 31, 2018 annual financial report. Dollars are reported in thousand. Balances are shown in no particular order. The accounts have normal balances.
| Account Name | Balance | Account Name | Balance |
| Accounts Payable | $30,000 | Retained Earnings | $60,000 |
| Accounts Receivable | $30,000 | Inventories | $20,000 |
| Notes Payable (3 month) | $6,000 | Long-term Note Payable | $20,000 |
| Cash | $50,000 | Property, Plant, & Equipment (net) | $110,000 |
| Common Stock | $80,000 | Income Taxes Payable | $14,000 |
Make sure your accounting equation (A=L + OE) is in balance or some of your answers are wrong!
Q18. Current Assets:
| A. | 95,000 | |
| B. | 100,000 | |
| C. | 125,000 | |
| D. | 155,000 |
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Cost Management Measuring Monitoring And Motivating Performance
Authors: Leslie G. Eldenburg, Susan K. Wolcott
2nd Edition
978-0-470-7694, 0470769424, 978-0470769423
