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Birtle Corporation reports the following statement of financial position Information for 2017 and 2018. Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current assets Cash Assets Assets Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current liabilities Accounts payable Notes payable $ 9,279 23,683 42,636 $ 75,598 2017 $272,047 $347,645 Liabilities and Owners' Equity Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total BIRTLE CORPORATION 2017 and 2018 statement of Financial Position Total liabilities and owners' equity 2018 $ 11,173 25,760 46,915 $ 83,848 Prepare the 2017 common-base year statement of financial position for Birtle. (Round the final answers to 3 decimal places.) 2018 $297,967 $381,815 2017 $ 9,279 23,683 42,636 $ 75,598 $272,047 $347,645 $ 41,060 16,157 $ 57,217 $ 40,000 Current liabilities Accounts payable Notes payable $ 50,000 200,428 $250,428 $347,645 Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity $ 11,173 25,760 46,915 $ 83,848 $297,967 $381,815 $ 43,805 16,843 Liabilities and Owners' Equity $ 60,648 $ 35,000 $ 50,000 236,167 $286, 167 $381,815 19.60 9.10 9.70 10.90 9.90 9.40 6.20 4.30 6.10 -12.50 0.00 17.50 2017 9.40 $ 41,060 16,157 $ 57,217 $ 40,000 $ 50,000 200,428 $250,428 $347,645 2018 $ 43,805 16,843 $ 60,648 $ 35,000 $ 50,000 236,167 $286,167 $381,815

Birtle Corporation reports the following statement of financial position Information for 2017 and 2018. Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current assets Cash Assets Assets Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current liabilities Accounts payable Notes payable $ 9,279 23,683 42,636 $ 75,598 2017 $272,047 $347,645 Liabilities and Owners' Equity Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total BIRTLE CORPORATION 2017 and 2018 statement of Financial Position Total liabilities and owners' equity 2018 $ 11,173 25,760 46,915 $ 83,848 Prepare the 2017 common-base year statement of financial position for Birtle. (Round the final answers to 3 decimal places.) 2018 $297,967 $381,815 2017 $ 9,279 23,683 42,636 $ 75,598 $272,047 $347,645 $ 41,060 16,157 $ 57,217 $ 40,000 Current liabilities Accounts payable Notes payable $ 50,000 200,428 $250,428 $347,645 Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity $ 11,173 25,760 46,915 $ 83,848 $297,967 $381,815 $ 43,805 16,843 Liabilities and Owners' Equity $ 60,648 $ 35,000 $ 50,000 236,167 $286, 167 $381,815 19.60 9.10 9.70 10.90 9.90 9.40 6.20 4.30 6.10 -12.50 0.00 17.50 2017 9.40 $ 41,060 16,157 $ 57,217 $ 40,000 $ 50,000 200,428 $250,428 $347,645 2018 $ 43,805 16,843 $ 60,648 $ 35,000 $ 50,000 236,167 $286,167 $381,815

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter12: Intangibles
Section: Chapter Questions
Problem 10MC
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Problem 3-15 Preparing Standardized Financial Statements (LO2) Birtle Corporation reports the following statement of financial position information for 2017 and 2018. Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current assets Cash Assets Assets Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets 2017 $ 9,279 23,683 42,636 $ 75,598 $272,047 $347,645 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total BIRTLE CORPORATION 2017 and 2018 statement of Financial Position Total liabilities and owners' equity 2018 $ 11,173 25,760 46,915 $ 83,848 $297,967 $381,815 Prepare the 2017 common-base year statement of financial position for Birtle. (Round the final answers to 3 decimal places.) 2017 $ 9,279 23,683 42,636 $ 75,598 $272,847 $347,645 $ 41,060 16, 157 $ 57,217 $ 40,000 Current liabilities Accounts payable Notes payable $ 50,000 200,428 $250,428 $347,645 Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity 2018 $ 11,173 25,760 46,915 $ 83,848 $297,967 $381,815 Liabilities and Owners' Equity $ 43,805 16,843 $ 60,648 $ 35,000 $ 50,000 236, 167 $286,167 $381,815 19.60 9.10 9.70 10.90 9.90 9.40 6.20 4.30 6.10 -12.50 0.00 17.50 2017 9.40 $ 41,060 16,157 $ 57,217 $ 40,000 $ 50,000 200,428 $250,428 $347,645 2018 $ 43,805 16,843 $ 60,648 $ 35,000 $ 50,000 236,167 $286,167 $381,815
Transcribed Image Text:Problem 3-15 Preparing Standardized Financial Statements (LO2) Birtle Corporation reports the following statement of financial position information for 2017 and 2018. Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current assets Cash Assets Assets Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets 2017 $ 9,279 23,683 42,636 $ 75,598 $272,047 $347,645 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total BIRTLE CORPORATION 2017 and 2018 statement of Financial Position Total liabilities and owners' equity 2018 $ 11,173 25,760 46,915 $ 83,848 $297,967 $381,815 Prepare the 2017 common-base year statement of financial position for Birtle. (Round the final answers to 3 decimal places.) 2017 $ 9,279 23,683 42,636 $ 75,598 $272,847 $347,645 $ 41,060 16, 157 $ 57,217 $ 40,000 Current liabilities Accounts payable Notes payable $ 50,000 200,428 $250,428 $347,645 Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity 2018 $ 11,173 25,760 46,915 $ 83,848 $297,967 $381,815 Liabilities and Owners' Equity $ 43,805 16,843 $ 60,648 $ 35,000 $ 50,000 236, 167 $286,167 $381,815 19.60 9.10 9.70 10.90 9.90 9.40 6.20 4.30 6.10 -12.50 0.00 17.50 2017 9.40 $ 41,060 16,157 $ 57,217 $ 40,000 $ 50,000 200,428 $250,428 $347,645 2018 $ 43,805 16,843 $ 60,648 $ 35,000 $ 50,000 236,167 $286,167 $381,815
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