Question

Arrange the following items in proper balance sheet presentation: (Amounts to be deducted should be indicated with parentheses or a minus sign.)
  

Accumulated depreciation	$	391,000
Retained earnings		35,000
Cash		19,000
Bonds payable		174,000
Accounts receivable		49,000
Plant and equipment—original cost		741,000
Accounts payable		37,000
Allowance for bad debts		6,000
Common stock, $1 par, 100,000 shares outstanding		100,000
Inventory		68,000
Preferred stock, $54 par, 1,000 shares outstanding		54,000
Marketable securities		21,000
Investments		27,000
Notes payable		36,000
Capital paid in excess of par (common stock)		92,000

	Balance Sheet Assets Liabilities and Stockholders’ Equity Current Assets: Current Liabilities: Total current liabilities Long-term liabilities Net accounts receivable Total current assets Total liabilities Other Assets: Stockholders’ Equity: Fixed assets: Net plant and equipment Total stockholders’ equity Total assets Total liabilities and stockholders’ equity

Answer 1

Please find below the solution...

Balance Sheet
Assets			Liabilities and Stockholders’ Equity
Current Assets:			Current Liabilities:
Cash		19000	Accounts payable	37000
			Notes payable	36000
Inventory		68000	Total current liabilities	73000
Accounts receivable	49000		Long-term liabilities
Less : Allowance for bad debt	-6000		Bonds payable	174000
Net accounts receivable		43000
Total current assets		130000	Total liabilities	247000
Other Assets:			Stockholders’ Equity:
Investments		27000	Preferred stock, $54 par, 1,000 shares outstanding	54000
Marketable securities		21000	Common stock, $1 par, 100,000 shares outstanding	100000
Fixed assets:			Capital paid in excess of par (common stock)	92000
Plant and equipment—original cost	741000		Retained earnings	35000
Less Accumulated depreciation	-391000
Net plant and equipment		350000	Total stockholders’ equity	281000
Total assets		528000	Total liabilities and stockholders’ equity	528000