Question

I just need help for requirement 3 which is last page

Section Alphabetical Number Week #1-Chapter |Homework Assignment Problem 1 (Textbook Reference: PI-4A) - Financial Accounting Review Problem The Homer Company uses the perpetual inventory procedure. The 2013 balance sheet of the Homer Company is as follows: Homer Company Balance Sheet December 31, 2013 ssets Current Assets Cash Accounts receivable, net Inventory Prepaid Expenses $ 60,000 S 130,000 $210,000 S 20,000 S420,000 Total current assets Land Less: Accumulated depreciation Long-Term Assets $ 50,000 S 500,000 S(150,000) S350,000 Buildings and equipment $ 820,000 Total assets Liabilities and Stockholders' Equity Accounts payable Income taxes payable Accrued expeneses payable Total current liabiltes $ 70,000 S 50,000 S 30,000 $ 150,000 Bonds payable, 9% due 2040 Total liabilities $ 200,000 S350,000 Stockholders' Equity Capital Stock S300,000 $30 par value, 10,000 shares outstanding Retained earnings Total stockholders' equity $ 170,000 $470,000 Total liabilities and stockholders' equity $ 820,000 0

Answer 1

Homer Company balance sheet
December 31, 2014
Assets
Current Assets Cash Accounts Receivable Less: Provision For Bad Debts Inventory Prepaid Expense	110,000 10,000		86,000 100,000 190,000 14,000
Total Property, Plant & Equipment Land Building And Equipment Less: Accumulated Depreciation	570,000 200,000		50,000 370,000		390,000
Total Property, Plant & Equipment					420,000
Total Assets					810,000
Liabilities & Stockholders’ equity
Current liabilities Account payable Income Tax Payable Accrued Expense Payable				50,000 32,000 20,000	102,000 200,000
Total current liability Bonds Payable 9% due 2040
Total liability Stockholders’ equity capital stock $20 par, 7500 shares outstanding Retained earnings					302,000 300,000 208,000
total stakeholders equity					508,000
Total Liability and stakeholders equity					810,000