Question
EX1-2: Below is the balance sheet of Melton Corporation for the year ended December 31, 2012: Melton Corporation Balance Sheet 31-Dec-12 In US dollars Beginning
EX1-2: Below is the balance sheet of Melton Corporation for the year ended December 31, 2012:
Melton Corporation | ||
Balance Sheet | ||
31-Dec-12 | ||
In US dollars | ||
| Beginning 01 Jan 2012 | Ending 31 Dec 2012 |
ASSETS | ||
Cash | 433 | 388 |
Marketable securities | 101 | 50 |
Accounts receivable, net | 348 | 430 |
Inventory | 218 | 283 |
Investments | 595 | 373 |
Property and equipment | 2,696 | 5,998 |
Acc. Depreciation | (1,000) | (1,300) |
Other assets | 52 | 1,355 |
Total Assets | ? | ? |
LIABILITIES AND OWNERS EQUITY | ||
Liabilities | ||
Accounts payable | 517 | 648 |
Income taxes payable | 100 | 150 |
Dividends payable | 300 | 200 |
Current portionLTD | 150 | 200 |
Long-term debt | 920 | 2,406 |
Deferred income taxes | 202 | 762 |
Total Liabilities | ? | ? |
Owners Equity | ||
Common stock | ? | ? |
Additional paid-in capital | 0 | 1,745 |
Retained earnings | 902 | 935 |
Treasury shares, at cost | (142) | (111) |
Total Owners equity | ? | ? |
Total Liabilities and Owners Equity | ? | ? |
Required:
Calculate the corporations total assets at the beginning and ending year of 2012.
Calculate the corporations total liabilities at the beginning and ending year of 2012.
What were the corporations common stock at the beginning and ending year of 2012?
What were the corporations owners equity at the beginning and ending year of 2012?
What were the corporations total liabilities and owners equity at the beginning and ending year of 2012?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started