Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please include the steps with the answers (it's going to be on excel thats why i need the steps) Forever&Ever Corporation Balance Sheet at December

image text in transcribed

Please include the steps with the answers (it's going to be on excel thats why i need the steps)

Forever&Ever Corporation Balance Sheet at December 31, 2019 $ $ 40,000 69,000 Assets Current Assets Cash and cash equivalents Short-term investments Accounts Receivable Less Allowance for Uncollectible Accounts Net Accounts receivables Inventories Prepaid insurance Total current assets $ $ 63,500 4,000 187,000 6,000 Investments Marketable securities Land held for sale Bond sinking fund Total investments $ $ 30,000 22,000 15,000 Property, plant, and equipment Land Buildings Equipment Total P.P, and E Less Accumulated depreciation Net Property, plant, and equipment $ $ $ 176,000 680,000 258,000 $ (161,000) Intangibles Patents Total Assets 15,000 Liabilities and Shareholders' Equity Current liabilities Accounts payable Interest payable Note payable Current maturities of long-term debt Total current liabilities 92,000 22,000 12,000 16,000 $ Long-term liabities Notes payable Bonds payable Total long-term liabilities $ $ 86,000 235,000 Shareholders' equity Common stock Retained earnings Total shareholders' equity Total Liabilities and Shareholders Equity $ $ 680,000 253,500

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

How To Audit Anything The Pink Book Of Auditing Any Process

Authors: R. Alakbarov

1st Edition

1520195575, 978-1520195575

More Books

Students also viewed these Accounting questions