Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please explain and answer all parts. begin{tabular}{|c|c|} hline ltom & begin{tabular}{c} Value ($000) at Dec 31,2019 end{tabular} hline Accounts payable & $224

image text in transcribed

image text in transcribed

Please explain and answer all parts.

\begin{tabular}{|c|c|} \hline ltom & \begin{tabular}{c} Value ($000) at \\ Dec 31,2019 \end{tabular} \\ \hline Accounts payable & $224 \\ \hline Accounts receivable & 446 \\ \hline Accruals & 51 \\ \hline \begin{tabular}{l} Accumulated depreciation \\ Buildings \end{tabular} & 270 \\ \hline \begin{tabular}{l} Bulldings \\ Cash \end{tabular} & 226 \\ \hline Common stock (at par) & \begin{tabular}{rl} 210 & 0 \\ 05 & 0 \end{tabular} \\ \hline Cost of goods sold & 95 \\ \hline Depreciation expense & 2,547 \\ \hline Equipment & 46 \\ \hline Furniture and fixtures & 142 \\ \hline General expense & 166 \\ \hline Inventories & 325 \\ \hline Land & 379 \\ \hline Long-term debts & 100 \\ \hline Machinery & 421 \\ \hline Marketable securities & \begin{tabular}{r} 418 \\ 70 \end{tabular} \\ \hline Notes payable & \begin{tabular}{r} 78 \\ 473 \end{tabular} \\ \hline Paid-in capital in excess of par & 473 \\ \hline Preferred stock & 381 \\ \hline Retained earnings & 104 \\ \hline Sales revenue & \begin{tabular}{r} 189 \\ 3588 \end{tabular} \\ \hline Vehicles & \begin{tabular}{r} 3.586 \\ 23 \end{tabular} \\ \hline \end{tabular} Balance sheet preparation Use the appropriate items from the following list to prepare in good form Mellark's Baked Goods balance sheet at December 31, 2019. Complete the fragment of the balance sheet below ($000) : (Select the correct account from the drop-down menu and round to the nearest dollar.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Mining Valuation Handbook Mining And Energy Valuation For Investors And Management

Authors: Victor Rudenno

4th Edition

0730377075, 978-0730377078

More Books

Students also viewed these Finance questions