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Please explain how you got the answers. I am reviewing / studying for an exam! Thank you. Computing Missing Amounts on a Classified Balance Sheet
Please explain how you got the answers. I am reviewing / studying for an exam! Thank you.
Computing Missing Amounts on a Classified Balance Sheet The consolidated balance sheet of Mutron Lock Inc. follows. For each of the missing items a through m, determine the balances that appear on the complete balance sheet. Do not use negative signs with any of your answers. ssets $51,286 0 a a e. $92,209 b. urrent assets Cash and cash equivalents Marketable securities Accounts receivable Allowance for doubtful accounts Inventories Prepaid expenses Total current assets roperty, plant, and equipment Land 3,853 2,936 3,392 c $66,458 73,202 0 21,082 f. 7,489 Building d. d. Consolidated Balance Sheet As of December 31, 2020 Liabilities and Stockholders' Equity Current liabilities $6,117 Accounts payable 0 Notes payable Income taxes payable 88,453 Current portion of long term debt 121,052 Accrued expenses 5,341 Total current liabilities 0 Long-term debt Deferred income taxes Pension liability Total liabilities Stockholders' equity Preferred stock, no par value (authorized 6,000 shares, issued 1,440 shares) h. 156,634 Common stock, $5 par value (authorized 240,000 shares, issued 12,000 shares) i. 8,924 Additional paid-in capital 4,756 Total contributed capital $397,064 Retained earnings Appropriated Unappropriated k. Total retained earnings and contributed capital Less treasury stock (2,053 shares) Total stockholders' equity Total liabilities and stockholders' equity g 0 0 117,280 62 205 0 0 Equipment and machinery Less: Accumulated depreciation Total property, plant, and equipment vestments ther assets otal assets 44,235 ]. 0 15,000 0 108,883 I. 0 13,085 208,601 0Step by Step Solution
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