Sanderson Manufacturing Company
Balance Sheet
At December 31, 2011
($ in 000s, except share data)
Assets | ||
Current assets | ||
Cash | $1750 | |
ST investments | $3500 | |
Account receivables net (4500-900) | $3600 | |
Inventories : | ||
RM and WIP | $2750 | |
FG | $6500 | $9250 |
Prepaid expenses | $1700 | |
Total CA | $19800 | |
Property plant and equipment : | ||
Equipment | $20,000 | |
Less Depreciation | ($4700) | |
Net property plant and equipment | $15300 | |
Intangible assets: | ||
Patents ($42000 - sum of other assets) | $6900 | |
Total Assets | $42000 | |
Liabilities and shareholders equity | ||
Current liabilities | ||
Accounts payable | $5700 | |
Interest payable ($600+$700) | $1300 | |
Unearned revenue ($4000/2=$2000) | $2000 | |
Current maturities of LTD | $1250 | |
Total CL | $10,250 | |
LTL | ||
Unearned revenue | $2000 | |
Note payable (5000-1250) | $3750 | |
Bonds payable | $6000 | $11750 |
Total liabilities | $22,000 | |
Shareholders equity | ||
Common stock, 6,00,000 shares authorized | ||
3,00,000 shares issued and outstanding | ||
250,000 shares issued and outstanding | $13900 | |
Retained earnings 5000+1800-700 | $6100 | |
Total Shareholders equity (22000/1.1) | $2000 |
Total liabilities and shareholders equity. $42000
The following incomplete balance sheet for the Sanderson Manufacturing Company was prepared by the company's controller....
The following incomplete balance sheet for the Sanderson Manufacturing Company was prepared by the company's controller. As accounting manager for Sanderson, you are attempting to reconstruct and revise the balance sheet. $ 2,750 6,500 (1,900) 7,500 2,700 17,550 SANDERSON MANUFACTURING COMPANY Balance Sheet At December 31, 2021 ($ in 000s) Assets Current assets: Cash Accounts receivable Allowance for uncollectible accounts Finished goods inventory Prepaid expenses Total current assets Long-term assets: Investments Raw materials and work in process inventory Equipment Accumulated...
Please help!! The following incomplete balance sheet for the Sanderson Manufacturing Company was prepared by the company’s controller. As accounting manager for Sanderson, you are attempting to reconstruct and revise the balance sheet. SANDERSON MANUFACTURING COMPANY Balance Sheet At December 31, 2021 ($ in 000s) Assets Current assets: Cash $ 1,750 Accounts receivable 4,500 Allowance for uncollectible accounts (900 ) Finished goods inventory 6,500 Prepaid expenses 1,700 Total current assets 13,550 Long-term assets: Investments 3,500 Raw materials and work in...
The following incomplete balance sheet for the Sanderson Manufacturing Company was prepared by the company's controller. As accounting manager for Sanderson, you are attempting to reconstruct and revise the balance sheet. $ 1,950 4,900 (1,100) 6,700 1,9ee 14,350 SANDERSON MANUFACTURING COMPANY Balance Sheet At December 31, 2021 ($ in woes) Assets Current assets: Cash Accounts receivable Allowance for uncollectible accounts Finished goods inventory Prepaid expenses Total current assets Long-term assets: Investments Raw materials and work in process inventory Equipment Accumulated...
The following incomplete balance sheet for the Sanderson Manufacturing Company was prepared by the company's controller. As accounting manager for Sanderson, you are attempting to reconstruct and revise the balance sheet. $ 1,950 4,900 (1,100) 6,700 1,9ee 14,350 SANDERSON MANUFACTURING COMPANY Balance Sheet At December 31, 2021 ($ in woes) Assets Current assets: Cash Accounts receivable Allowance for uncollectible accounts Finished goods inventory Prepaid expenses Total current assets Long-term assets: Investments Raw materials and work in process inventory Equipment Accumulated...
The following incomplete balance sheet for the Sanderson Manufacturing Company was prepared by the company's controller. As accounting manager for Sanderson, you are attempting to reconstruct and revise the balance sheet. SANDERSON MANUFACTURING COMPANY Balance Sheet At December 31, 2018 ($ in 000s) Assets Current assets: Cash Accounts receivable Allowance for uncollectible accounts Finished goods inventory Prepaid expenses Total current assets Long-term assets: Investments Raw materials and work in process inventory Equipment Accumulated depreciation-equipment Patent $ 2,250 5,500 (1,400) 7,000...
please complete balance sheet Additional information ($ in 000s): 1. Certain records that included the account balances for the patent and shareholders' equity items were lost. However, the controller told you that a complete, preliminary balance sheet prepared before the records were lost showed a debt to equity ratio of 12. That Is, total liabilities are 120% of total shareholders' equity, Retained earnings at the beginning of the year was $5,600. Net Income for 2021 was $1,950 and $500 in...
As controller for Henderson, you are attempting to reconstruct and revise the following balance sheet prepared by a staff accountant. $ 2,250 4,750 (700) 6,900 4,400 17,600 Henderson Manufacturing Company Balance Sheet At December 31, 2021 ($ in 2005) Assets Current assets: Cash Accounts receivable Allowance for uncollectible accounts Finished goods inventory Prepaid expenses Total current assets Long-term assets: Investments Raw materials and work in process inventory Equipment Accumulated depreciation-equipment Franchise Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts...
Can somebody help me fix this so it's all right? The following incomplete balance sheet for the Sanderson Manufacturing Company was prepared by the company's controller. As accounting manager for Sanderson, you are attempting to reconstruct and revise the balance sheet. SANDERSON MANUFACTURING COMPANY Balance Sheet At December 31, 2018 ($ in 000s) Assets Current assets: Cash Accounts receivable Allowance for uncollectible accounts Finished goods inventory Prepaid expenses Total current assets Long-term assets: Investments Raw materials and work in process...
Problem 3-8 (Algo) Balance sheet; errors; missing amounts [LO3-2, 3-3] The following incomplete balance sheet for the Sanderson Manufacturing Company was prepared by the company’s controller. As accounting manager for Sanderson, you are attempting to reconstruct and revise the balance sheet. Current Assets Cash $2,150 A/R 5,300 Allowance for Uncollectile accounts (1,300) Finished goods inventory 6,900 Prepaid expenses 2,100 total current assets 15,150 Long--term assets: Investments 3,900 Raw materials and work-in-process inv 3,150 Equipment 18,000 Accum. Depreciation (5,100) Patent (net)...
The following balance sheet for the Hubbard Corporation was prepared by the company: HUBBARD CORPORATION Balance Sheet At December 31, 2021 Assets Buildings Land Cash Accounts receivable (net) Inventory Machinery Patent (net) Investment in equity securities Total assets Liabilities and Shareholders' Equity Accounts payable Accumulated depreciation Notes payable Appreciation of inventory Common stock (authorized and issued 109,000 shares of no par stock) Retained earnings Total liabilities and shareholders' equity $ 759,000 277,000 69,000 138,000 258,000 289,000 109,000 78,000 $1,977,000 $...