Concept explainers
Fill in the blanks labeled (a) through (p).
Explanation of Solution
Fill the missing information:
Company C | ||
Balance Sheet | ||
December 31 | ||
Particulars | 2016 | 2017 |
Current assets | (1)(d)$35,200 | $39,800 |
Long-term investments | $40,100 | (8)(o)$42,300 |
Property, plant, and equipment (net) | (2)(h) $153,000 | $180,000 |
Less: | ($37,500) | ($48,600) |
Intangible assets | $19,100 | $18,600 |
Total assets | (e)$209,900 | (m)$232,100 |
Current liabilities | (3)(g)$17,300 | (9)(p)$20,000 |
Long-term liabilities | (4)(a)$34,600 | $33,100 |
Total liabilities | $51,900 | (10)(j)$53,100 |
Common stock, $10 par | (5)(b)$29,000 | (11)(i)$30,000 |
Additional paid-in capital | (6)(f)$37,700 | (12)(n)$39,200 |
Total contributed capital | $66,700 | (13)(l)$69,200 |
Retained earnings | $83,300 | (14)(k)$100,900 |
Accumulated other comprehensive income | $8,000 | $8,900 |
Total shareholders’ equity | (7)(c)$158,000 | $179,000 |
Total liabilities and shareholders’ equity | $209,900 | $232,100 |
Table (1)
Note:
The amount of total assets for missing information (e) for the year 2016 and (m) for the year 2017 is same as the amount of total liabilities and shareholders’ equity for the year 2016 ($209,900) and year 2017 ($232,100) since, total assets equals total of liabilities and shareholders’ equity.
Working notes:
Year 2016:
(1) Calculate the amount of current assets:
(2) Calculate the amount of property, plant and equipment:
(3) Calculate the amount of current liabilities:
(4) Calculate the amount of long-term liabilities:
(5) Calculate the amount of common stock:
(6) Calculate the amount of additional paid-in capital:
(7) Calculate the amount of total shareholders’ equity:
Year 2017:
(8) Calculate the amount of long-term investments:
(9) Calculate the amount of current liabilities:
(10) Calculate the amount of total liabilities:
(11) Calculate the amount of common stock:
(12) Calculate the amount of additional paid-in capital:
(13) Calculate the amount of total contributed capital:
(14) Calculate the amount of retained earnings:
(15) Calculate the value of additional shares issued:
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Chapter 4 Solutions
Intermediate Accounting: Reporting and Analysis
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