Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare a balance sheet for this company for 2 0 1 9 and 2 0 2 0 . ( Do not round intermediate calculations. Be

Prepare a balance sheet for this company for 2019 and 2020.(Do not round intermediate calculations. Be sure to list the accounts in order of their liquidity.)
\table[[INGERSOLL, INC.],[Balance Sheet as of Dec. 31],[,,,2019,2020],[Assets],[Accounts receivable,V,$,8,130$,9,697],[Cash,(,,6,202vv,6,736],[Inventory,2,,14,436>,15,378],[,,(V),(V)],[Current assets,,,\times ,\times ],[Net fixed assets,2,,51,086>,54,543],[,,(v,(],[Total assets,,$,79,854$,86,354],[Liabilities],[Accounts payable,V:,$,5,788$,6,151],[Notes payable,,,,(v)],[,,(,(v)],[Long-term debt,grad,,20,590>,24,861],[Owners' equity,V,,x,x],[Total liabilities & owne,,$,79,854$,86,354]]
*Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted.Use the following information for Ingersoll, Inc., (assume the tax rate is 25 percent):
Prepare a balance sheet for this company for 2019 and 2020.(Do not round
intermediate calculations. Be sure to list the accounts in order of their liquidity.)Use the following information for Ingersoll, Inc., (assume the tax rate is 25 percent):
\table[[,2019,2020],[Sales,$16,073,$15,636],[Depreciation,1,751,1,826],[Cost of goods sold,4,429,4,797],[Other expenses,991,869],[Interest,840,971],[Cash,6,202,6,736],[Accounts receivable,8,130,9,697],[Long-term debt,20,590,24,861],[Net fixed assets,51,086,54,543],[Accounts payable,5,788,6,151],[Inventory,14,436,15,378],[Dividends,1,400,1,708]]
Prepare a balance sheet for this company for 2019 and 2020.(Do not round intermediate calculations. Be sure to list the accounts in order of their liquidity.)
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Accounting

Authors: Carl warren, James Reeve, Jonathen Duchac, Sheila Elworthy,

Volume 1, 2nd canadian Edition

176509739, 978-0176509736, 978-0176509743

Students also viewed these Finance questions

Question

What has been your desire for leadership in CVS Health?

Answered: 1 week ago

Question

Question 5) Let n = N and Y Answered: 1 week ago

Answered: 1 week ago