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August 21, 2014

Homework Help: financial management

Posted by dee on Sunday, October 4, 2009 at 5:23pm.

Using the following information, prepare a balance sheet for Midsize Corporation:

Total Current Assets
$11,800,000
Gross Fixed Assets
$15,000,000

Cash
?
Stockholders' Equity
$6,450,000

Inventory
$5,800,000
Accrued Expenses
$600,000

Accounts payable
$4,200,000
Notes Payable
$3,800,000

Taxes Payable
$200,000
Retained Earnings
?

Accrued Depreciation
$6,800,000
Long-term Debt
$4,750,000

Accounts Receivable
$3,600,000
Common Stock
($1 par) = $2,000,000

Marketable Securities
$2,000,000
Capital Paid In Excess of Par
$1,000,000

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