Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required: Using the following account balances for BigCo Inc. on December 31, 2021, prepare in good form, the balance sheet in multi-step format All amounts

Required: Using the following account balances for BigCo Inc. on December 31, 2021, prepare in good form, the balance sheet in multi-step format

All amounts are rounded to the nearest million dollars
Chart of Accounts and balances
Accounts Payable 9,261
Accrued Pension and Health care liability*non-current 12,632
Accrued Expenses 18,455
Accts Rcvble, net 11,261
Accumulated Other Comprehensive Loss (1,659)
Acquired Intangible Assets 2,562
Additional Pd in Capital 9,052
Advances and Progress Billings 52,980
Basic and Diluted EPS (not in millions) (7.15)
Cash and Cash Equivalents 8,052
Common Stock 5,061
Comprehensive Loss Attributable to Non-controlling Interest (88)
Cost of Products Sold (49,954)
Cost of Services Sold (9,283)
Current portion of customer financing, net 117
Current portion of long-term debt 1,296
Customer financing. Net of current portion 1,695
Deferred Income Tax Asset 77
Deferred Income Tax Liability 218
Financing Arm Interest Expense (32)
Fixed Assets, net 10,918
Gain on Dispositions 277
General and Administrative Expenses (4,157)
Goodwill 8,068
Income Tax Benefit 743
Interest Expense (2,682)
Inventories 78,823
Investment Income 210
Investments 975
Long Term Debt 58,606
Loss Attributable to Non-controlling Interest (88)
Non-Controlling Interests 153
Other Assets Net 5,591
Other current Assets 2,221
Other Income 551
Other Long-Term Liabilities 1,750
Research and Development (2,249)
Retained Earnings 34,408
Sales of Products 51,386
Sales of Services 10,900
Short Term Investments 8,192
Treasury Stock (51,861)
Unrealized gain on Investment securities 5,474

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_2

Step: 3

blur-text-image_3

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

Auditing Humor And Other Oxymorons

Authors: Mr Mike Jacka

1st Edition

0991280903, 978-0991280902

More Books

Students also viewed these Accounting questions