Question
Balance sheet preparationUse the appropriate items from the following list to prepare in good form Mellark's Baked Goods balance sheet at December 31, 2015. Complete
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Balance sheet preparationUse the appropriate items from the following list
to prepare in good form Mellark's Baked Goods balance sheet at December 31, 2015.
Complete the fragment of the balance sheet below ($000):(Select the correct account from the drop-down menu and round to the nearest dollar.)
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Mellark's Baked Goods | ||
Balance Sheet as of December 31, 2015 | ||
Assets |
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Current assets: |
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Accounts receivable | $ | 454 |
Marketable securities |
| 71 |
Inventories |
| 372 |
Cash |
| 217 |
Total current assets | $ | 1,114 |
Gross fixed assets: |
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Land and buildings | $ | 326 |
Machinery and equipment |
| 566 |
Furniture and fixtures |
| 170 |
Vehicles |
| 30 |
Total gross fixed assets | $ | 992 |
Less: Accumulated depreciation | $ | 268 |
Net fixed assets | $ |
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Total assets | $ | 1,838 |
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Item | Value ($000) at Dec 31, 2015 |
Accounts payable | $ 220 |
Accounts receivable | 454 |
Accruals | 53 |
Accumulated depreciation | 268 |
Buildings | 227 |
Cash | 217 |
Common stock (at par) | 93 |
Cost of goods sold | 2,487 |
Depreciation expense | 50 |
Equipment | 143 |
Furniture and fixtures | 170 |
General expense | 320 |
Inventories | 372 |
Land | 99 |
Long-term debts | 419 |
Machinery | 423 |
Marketable securities | 71 |
Notes payable | 476 |
Paid-in capital in excess of par | 360 |
Preferred stock | 102 |
Retained earnings | 215 |
Sales revenue | 3,638 |
Vehicles | 30 |
PLEASE PREPARE A FULL BALANCED SHEET FROM THE TABLE ABOVE
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