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Financial data for Jade's Jeans are given below. All figures are in dollars. Use this data to construct a Balance Sheet for the company for
Financial data for Jade's Jeans are given below. All figures are in dollars. Use this data to construct a Balance Sheet for the company for the year ending December 31, 2020 and use your constructed statement to answer the following 5 questions (i.e., 11 through 15). NOTE: Not every item in the list below belongs on the balance sheet - you have to use some given data to determine needed accounts for the balance sheet. However, other than what is listed and/or can be derived, there are no other accounts on Jade's balance sheet - use cash as a plug figure to balance the balance sheet. Accounts payable Accruals Accumulated depreciation Additional paid in capital Beginning of year inventory Common stock ($2.00 par value) Cost of goods sold Current portion of Long-term debt Gross accounts receivable Gross fixed assets Long-term debt (excluding current portion) Purchases Retained earnings Returns and allowances Short-term bank loan 49,500 14,200 358,400 216,000 348,600 162,000 1,026,800 12,800 162,200 1,035,700 543,200 1,019,400 236,100 2,100 87,800 Cash ??? 11. What did Jade's Jeans record as Total Current Assets on December 31, 2020 balance sheet? 12. What did Jade's Jeans record as Total Current Liabilities on December 31, 2020 balance sheet? 13. What did Jade's Jeans record as Total Assets on December 31, 2020 balance sheet? 14. What was Total Shareholder's Equity on Jade's Jeans December 31, 2020 balance sheet
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