Wildhorse Company and Sheffield Company are competing businesses. Both began operations 6 years ago and are quite similar in most respects. The current balance sheet data for the two companies are shown as follows.

Please help me find the Accumulated depreciation for Wildhorse Company. But the answer is NOT $166,296. Can you please solve for sheffield as well. I know its right and done but I dont know the actual working of how the Accumulated Depreciation is ($190441). Maybe that proportion or rate of depreciation will be used to solve for Wildhorse Company and hopefully it can be right. Thankyou!!

Wildhorse Company and Sheffield Company are competing businesses. Both began operations 6 years ago and are quite similar in most respects. The current balance sheet data for the two companies are shown as follows. Wildhorse Sheffield Company Company Cash $ 62.700 $ 48,900 Accounts receivable 303.400 301.000 Allowance for doubtful accounts (13.600) Inventory 465,200 516,100 Plant and equipment 250.000 258.100 Accumulated depreciation-plant and equipment (109.950) (190,441) Total assets $ 957.750 $933.659 Current liabilities $ 436,500 $ 428,100 Long-term liabilities 78,200 82.800 Total liabilities 514,700 510.900 Stockholders' equity 443.050 422.759 Total liabilities and stockholders' equity $ 957,750 $ 933,659 You have been engaged as a consultant to conduct a review of the two companies. Your goal is to determine which of them is in the stronger financial position Your review of their financial statements quickly reveals that the two companies have not followed the same accounting practices. The differences and your conclusions regarding them are summarized below. 1. Wildhorse Company has used the allowance method of accounting for bad debts. A review shows that the amount of its write-offs each year has been quite close to the allowances that have been provided. It therefore seems reasonable to have confidence in its current estimate of bad debts. Sheffield Company has used the direct write-off method for bed debts, and it has been somewhat slow to write off its uncollectible accounts. Based upon an aging analysis and review of its accounts receivable, it is estimated that $18,000 of its existing accounts will probably prove to be uncollectible 2. Wildhorse Company has determined the cost of its merchandise inventory on a LIFO basis. The result is that its inventory appears on the balance sheet at an amount that is below its current replacement cost. Based upon a detailed physical examination of its merchandise on hand, the current replacement cost of its inventory is estimated at $509,400. Sheffield Company has used the FIFO method of valuing its merchandise inventory. Its ending inventory appears on the balance sheet at an amount that quite closely approximates its current replacement cost 3. Wildhorse Company estimated a useful life of 12 years and a salvage value of $30.100 for its plant and equipment. It has been depreciating them on a straight-line basis. Sheffield Company has the same type of plant and equipment. However, it estimated a useful life of 10 years and a salvage value of $10,000. It has been depreciating its plant and equipment using the double-declining-balance method. Based upon engineering studies of these types of plant and equipment, you conclude that Sheffield's estimates and method for calculating depreciation are the more appropriate. 4. Among its current liabilities. Wildhorse has included the portions of long-term liabilities that become due within the next year. Sheffield has not done so. You find that $15,900 of Sheffield's $82,800 of long-term liabilities are due to be repaid in the current year. (a) Revise the balance sheets presented above so that the data are comparable and reflect the current financial position for each of the two companies. (Round answers to decimal places, eg. 125.) (a) Revise the balance sheets presented above so that the data are comparable and reflect the current financial position for each of the two companies. (Round answers to decimal places, eg. 125.) Wildhorse Company Sheffield Company Cash $ 62700 $ 48900 303400 301000 Accounts Receivable Allowance for Doubtful Accounts Inventory (13600) (18000) i 509400 516100 250000 258100 Plant and Equipment Accumulated Depreciation Total Assets (27438) (190441) $ 1084462 915659 $ 436500 A 444000 Current Liabilities Long-term Liabilities Total Liabilities 78200 66900 514700 510900 430904 404759 Stockholders' Equity Total Liabilities and Stockholders' Equity $ 945604 $ 915659