Comparative Balance Sheet (dollars in thousands) Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land........ Buildings and equipment, net Total property and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities. Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: Common stock.. Additional paid-in capital This Year Last Year $ 1,280 12,300 9,700 $ 1,560 9,100 8,200 1,800 2,100 25,080 20,960 6,000 6,000 19,200 19,000 25,200 $50,280 25,000 $45,960 $ 9,500 600 $ 8,300 700 300 300 10,400 9,300 5,000 15,400 5,000 14,300 800 800 4,200 4,200 Total paid-in capital 5,000 5,000 Retained earnings 29,880 26,660 Total stockholders' equity 34,880 31,660 Total liabilities and stockholders' equity. $50,280 $45,960

Comparative Balance Sheet (dollars in thousands) Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land........ Buildings and equipment, net Total property and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities. Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: Common stock.. Additional paid-in capital This Year Last Year $ 1,280 12,300 9,700 $ 1,560 9,100 8,200 1,800 2,100 25,080 20,960 6,000 6,000 19,200 19,000 25,200 $50,280 25,000 $45,960 $ 9,500 600 $ 8,300 700 300 300 10,400 9,300 5,000 15,400 5,000 14,300 800 800 4,200 4,200 Total paid-in capital 5,000 5,000 Retained earnings 29,880 26,660 Total stockholders' equity 34,880 31,660 Total liabilities and stockholders' equity. $50,280 $45,960

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 17MCQ

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