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USE THE FOLLOWING INFORMATION TO ANSWER QUESTIONS 27-31 Financial data for Ligon's Lighting Company are given below. All figures are in dollars. Use this data
USE THE FOLLOWING INFORMATION TO ANSWER QUESTIONS 27-31 Financial data for Ligon's Lighting Company are given below. All figures are in dollars. Use this data to construct a Balance Sheet for the company for the year ending December 31, 2018. NOTE: Not every item in the list below belongs on the balance sheet - you have to use some given data to determine needed accounts for the balance sheet. However, other than what is listed and/or can be derived, there are no other accounts on Tara's balance sheet - use cash as a plug figure to balance the balance sheet. Accounts payable Accruals Accumulated depreciation Additional paid in capital Beginning of year inventory Common stock ($1.50 par value) Cost of goods sold Current portion of Long-term debt Gross accounts receivable Gross fixed assets Long-term debt (excluding current portion) Purchases Retained earnings Returns and allowances Short-term bank loan Cash 6,124,500 874,100 34,875,600 13,475,620 21,846,230 15,620,000 99,586,210 3,578,600 5,951,360 105,479,620 47,862,320 94,087,620 5,230,460 59,680 258,500 ??? 27. What did Ligon's Lighting Company record as Total Current Assets on December 31, 2018 balance sheet? 28. What did Ligon's Lighting Company record as Total Current Liabilities on December 31, 2018 balance sheet? 29. What did Ligon's Lighting Company record as Total Assets on December 31, 2018 balance sheet? 30. What was Total Shareholder's Equity on Ligon's Lighting Company' December 31, 2018 balance sheet? USE THE FOLLOWING INFORMATION TO ANSWER QUESTIONS 27-31 Financial data for Ligon's Lighting Company are given below. All figures are in dollars. Use this data to construct a Balance Sheet for the company for the year ending December 31, 2018. NOTE: Not every item in the list below belongs on the balance sheet - you have to use some given data to determine needed accounts for the balance sheet. However, other than what is listed and/or can be derived, there are no other accounts on Tara's balance sheet - use cash as a plug figure to balance the balance sheet. Accounts payable Accruals Accumulated depreciation Additional paid in capital Beginning of year inventory Common stock ($1.50 par value) Cost of goods sold Current portion of Long-term debt Gross accounts receivable Gross fixed assets Long-term debt (excluding current portion) Purchases Retained earnings Returns and allowances Short-term bank loan Cash 6,124,500 874,100 34,875,600 13,475,620 21,846,230 15,620,000 99,586,210 3,578,600 5,951,360 105,479,620 47,862,320 94,087,620 5,230,460 59,680 258,500 ??? 27. What did Ligon's Lighting Company record as Total Current Assets on December 31, 2018 balance sheet? 28. What did Ligon's Lighting Company record as Total Current Liabilities on December 31, 2018 balance sheet? 29. What did Ligon's Lighting Company record as Total Assets on December 31, 2018 balance sheet? 30. What was Total Shareholder's Equity on Ligon's Lighting Company' December 31, 2018 balance sheet
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