can somone please help me put this in a very clear balance sheet look a like, just like the picture. secondly anwer some of the questions. Thank you
Balance Sheet Assignment Fred Farmer needs to prepare a balance sheet for his bank. He spent the day getting the following information, Fred needs your help to build a balance evaluate it. The Information was gathered on 2/1/18 Grain sorghum in storage 4100 cwt @ $5.40 per cwt Hay on hand 75 ton $50.00 per ton 285 acres @ 24,50 per acre invested Growing wheat Farm mortgage payment due 4/7/18 $15,000 principle. $20,200 interest balance after 4/7/18 payment $228,000 Building and improvements $58,000 $46,000 96 head $290 per head Note payable this year (feeder cattle) Galves (sell in 60 days) Feeder cattle (sell 5/1/18) Operating loan (due 5/15/18) 142 bead. $580 per head $55,000 Vehicles $16,500 Machinery & Equipment $80,500 Loan on beef cattle payment due 8/1/18 $9,000 principle, $4,200 interest balance after 8/1/18 payment $38,000 Land market value 1020 acres @ $560 per acre Beef breeding cows 106 head @ $650 per head 4 head @ $1.200 per head Bulls Checking $3,400 Account payable at IFA $1,800 $2,800 Accounts receivable Shop Equipment Cummins diesel stock $2,500 300 shares @ $55 per share Other information Fred paid for $6,000 worth of seed to get a better price. Delivery on 3/15/18 Income and social security taxes due this year are estimated to be $8,200 Ten years ago Fred contributed $50,000 capital to get the business started Retained earnings since the beginning of the business equals $305,000 Questions: 1. 2. 3. 4. 5. 6 7. B. 9. What is Fred's Owner's Equity on February 1"? How much working capital does Fred have? What is his current ratio? What is the debt/asset ratio? What is the debt/equity ratio? What is the equity/asset ratio? Which part of the financial conditions from the balance sheet could be a concern and why? Fred wants to borrow $50,000 to buy a tractor, it will cost $50,000. you were the lender would you approve the loan to Fred? Why or why not? I Fred gets the tractor loan, what affect will the transaction have to Fred's owner's equity if no other changes were made to the balance sheet? B D E 1 2 3 4 Fred Farmer Balance Sheet As of Feb 1, 2016 Amount Amount Liabilities Current Accounts Payable IFA Notes Payable Feeders Bank Loans Payable Principle-beef Interest Mortage Principle Interest Income and S.S tax Total Current 5 Assets Terms (quantity @price) 6 Current 7. Checking 8 Accounts Recievable 9 Prepaid Expenses 10 Marketable Securities Cummins 12 Inventories 13 Sorgum 14 Hay 15 Livestock 16 Feeders 17 Calves 18 Investment in growing crops 19 Total Current 20 21 22 Non-current 23 Vehicles 24 Machinery and Equipment 25 Shop Equipment 26 Livestock 27 Breeding 28 Bulls 29 Buildings and improvements 30 Land (Market Value) 31 Total Non-current 32 33 34 Total Assets 35 36 37 38 99 40 What is Fred's Owners Equity as of Feb 1, 2011? 41 How much working capital does Fred have? Non-Current Loan Beef Mortage Total Non-current Total Liabilities S Owners Equity Contributed Capital Retained earnings Value Adjustment Total Owners Equity Check $ $ $ $
