Question

P16-6A The following data, presented in alphabetical order, are taken from the records Nieto Corporation Accounts payable $ 260,000 Accounts receivable 140,000 Accumulated depreciation buildings 180,000 Accumulated depreciation-equipment 52,000 Allowance for doubtful accounts 6,000 Bonds payable (10%, due 2025) 500,000 Buildings 950,000 Cash 62,000 Common stock ($10 par value; 500,000 shares authorized, 150,000 shares issued) 1,500,000 Dividends payable g r id 80,000 Equipment COSTA 275,000 Fair value adjustment-available-for-sale securities (Dr) A 8,000 Goodwill 200,000 Income taxes payable 120,000 Inventory 170,000 Investment in Mara common stock (30% ownership), at equity 380,000

Answer 1

$62.000 $180,000 $140,000 $6,000 $134.000 $170.000 $16.000 $562,000 $286.000 $380,000 S666,000 $390,000 $770,000 $950,000 $180,000 $275,000 $52,000 $223,000 $1,383,000 Nieto Corporation Balance Sheet December 31, 2017 Assets Current assets: Cash Short-term stock investment (at fair value) Accounts Receivable Less: Allowance for Doubtful Accounts Inventory Prepaid Insurance Total current assets Long-term investments: Investment in sasse common stock (10% ownership) at fair value Investment in mara common stock (30% ownership) at equity Total long-term investments Property, plant, and equipment: Land Buildings Less: Accumulated Depreciation-Buildings Equipment Less: Accumulated Depreciation Equipment Total Property, plant, and equipment: Intangible assets: Goodwill Total Intangible assets Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts Payable Notes Payable (due 2018) Income Tax Payable Dividends Payable Total current liabilities Long-term liabilities: Bonds Payable (10%, due 2025) Add: Premium on bonds payable Total Long-term liabilities Total liabilities Stockholder's equity Paid in capital Common Stock ($10 par value: 500,000 shares authorized, 150,000 shares issued) Paid-in capital in excess of par value - common stock Total Paid in capital Retained Earnings Total Paid in capital and retained Earnings Add: Unrealized gain - available-for-sale securities Total stockholder's equity Total liabilities and stockholders' equity $200.000 $200,000 $2,811,000 $260.000 $70,000 $120,000 $80.000 $530,000 $500.000 $40,000 $540,000 $540,000 $1.070,000 $1,500,000 $130,000 $1,630,000 $103.000 $1,733,000 $8.000 $1.741,000 $2,811,000