Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Need the projection with AFN/excess financing incorporated column filled out as needed. WHITE & PINKMAN CORPORATION Historical and Projected Balance Sheets Historical Dec 31, 2018
Need the projection with AFN/excess financing incorporated column filled out as needed.
WHITE & PINKMAN CORPORATION Historical and Projected Balance Sheets Historical Dec 31, 2018 Projected Dec 31, 2019 Projection with AFN/ Excess Financing Incorporated ASSETS Current Assets: Cash Marketable Securities Accounts Receivable (gross) Less: Allowance for Bad Debts Accounts Receivable (Net) Inventory Prepaid Expenses Total Current Assets Plant and Equipment (gross) Less: Accumulated Depreciation Plant and Equipment (net) TOTAL ASSETS LIABILITIES AND EQUITY Current Liabilities: Accounts Payable Notes Payable Accrued Expenses Total Current Liabilities L-T Debt (Bonds Payable, 5%, due 2035) Total Liabilities Common Stock (1,000,000 shares, $1 par) Capital in Excess of Par Retained Earnings Total Equity TOTAL LIABILITIES AND EQUITY $9,000,000 $8,000,000 $1,200,000 $200,000 $1,000,000 $20,000,000 $1,000,000 $39,000,000 $20,000,000 ($9,000,000) $29,000,000 $68.000.000 $10,800,000 $9,600,000 $1,440,000 $244,800 $1,195,200 $24,000,000 $1,200,000 $48,480,000 $20,000,000 ($9,000,000) $11,000,000 $59,480,000 $6,480,000+ $12,000,000 $5,000,000 $3,000,000 $20,000,000 $20,000,000 $40,000,000 $1,000,000 $4,000,000 $5,000,000 $10,000,000 S50,000,000 $14,400,000 $5,000,000 $3,600,000 $23,000,000 $26,480,000 $49,480,000 $1,000,000 $4,000,000 $5,000,000 $10,000,000 $59.480.000 Incorporate as new Long-term Debt Question 2a. Excess Financing (Additional Funds Needed): $6,480,000 WHITE & PINKMAN CORPORATION Historical and Projected Balance Sheets Historical Dec 31, 2018 Projected Dec 31, 2019 Projection with AFN/ Excess Financing Incorporated ASSETS Current Assets: Cash Marketable Securities Accounts Receivable (gross) Less: Allowance for Bad Debts Accounts Receivable (Net) Inventory Prepaid Expenses Total Current Assets Plant and Equipment (gross) Less: Accumulated Depreciation Plant and Equipment (net) TOTAL ASSETS LIABILITIES AND EQUITY Current Liabilities: Accounts Payable Notes Payable Accrued Expenses Total Current Liabilities L-T Debt (Bonds Payable, 5%, due 2035) Total Liabilities Common Stock (1,000,000 shares, $1 par) Capital in Excess of Par Retained Earnings Total Equity TOTAL LIABILITIES AND EQUITY $9,000,000 $8,000,000 $1,200,000 $200,000 $1,000,000 $20,000,000 $1,000,000 $39,000,000 $20,000,000 ($9,000,000) $29,000,000 $68.000.000 $10,800,000 $9,600,000 $1,440,000 $244,800 $1,195,200 $24,000,000 $1,200,000 $48,480,000 $20,000,000 ($9,000,000) $11,000,000 $59,480,000 $6,480,000+ $12,000,000 $5,000,000 $3,000,000 $20,000,000 $20,000,000 $40,000,000 $1,000,000 $4,000,000 $5,000,000 $10,000,000 S50,000,000 $14,400,000 $5,000,000 $3,600,000 $23,000,000 $26,480,000 $49,480,000 $1,000,000 $4,000,000 $5,000,000 $10,000,000 $59.480.000 Incorporate as new Long-term Debt Question 2a. Excess Financing (Additional Funds Needed): $6,480,000
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