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Please complete. The answers I have filled in are correct As controller for Henderson, you are attempting to reconstruct and revise the following balance sheet
Please complete. The answers I have filled in are correct
As controller for Henderson, you are attempting to reconstruct and revise the following balance sheet prepared by a staff accountant $ 2,700 4,500 (860) 6,200 3,000 14,400 Henderson Manufacturing Company Balance Sheet At December 31, 2022 (s. In 000) Assets Current assets Cash Accounts receivable Allowance for uncollectible accounts Finished goods inventory Prepaid expenses Total current assets Long-tern assets: Investments Raw materials and work in process inventory Equipment Accumulated depreciation equipment Franchise Total assets abilities and Shareholders' Equity Current liabilities Accounts payable Notes payable Interest payable note Deferred revenue Total current liabilities Long term liabilities Bonds payable Interest payable-bonds Shareholders equity Common stock Retained earnings Total liabilities and shareholders' equity 2,600 3,500 17,500 (8,600) $ 5.6,800 14,00 200 3,000 24,000 7.000 200 2 Additional information (S in 000) 1. Certain records that included the account balances for the franchise and shareholders' equity items were lost. However, a complete, preliminary balance sheet prepared before the records were lost showed a debt to equity ratio of 16. That is, total Habilities are 160% of total shareholders' equity Retained earnings at the beginning of the year was $4,900. Net income for 2021 was $3.100, and 5600 in cash dividends were declared and paid to shareholders 2. The investments represent treasury bilis purchased in December 2021 that mature in January 2022 These are considered cash equivalents 3. Interest on both the notes and the bonds is payable annually. 3. Interest on both the notes and the bonds is payable annually 4 The notes payable account contains one note that is due in annual installments of S1,400 for each payment due 5. Deferred revenue will be recognized equally over the next 18 months. 6. The common stock represents 500,000 shares of no par stock authorized, of which 300,000 shares are issued and outstanding Required: Prepare a complete, corrected, classified balance sheet. (Do not round your intermediate calculations. Enter your answers in the order of their liquidity, Amounts to be deducted should be indicated by a minus sign. Enter your answers in thousands of dollars.) Henderson Manufacturing Company Balance Sheet At December 31, 2021 (sin 000) Assets Current assets Inventory Raw materials and work in process Finished goods Total current assets Property, plant, and equipment Equipment Accumulated dupreciation Net property, plant and equipment Intangibles Eranchise (net) Total assets 5 0 Liabilities and Shareholders' Equity Current abities Accounts payable Interest payable Inventory Raw materials and work in process Finished goods 0 0 Total current assets Property, plant, and equipment Equipment Accumulated depreciation Net property, plant, and equipment Intangibles Franchise (net) 0 Total assets Liabilities and Shareholders' Equity Current liabilities Accounts payable Interest payable Deferred revenue Current maturities of long-term debt Total current liabilities Long-term liabilities Deferred revenue Notes payable Bonds payable 0 0 Total liabilities Shareholders' equity Common stock Retained earnings Total shareholders' equity Total abilities and shareholders' equity 0 $ 10 Step by Step Solution
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