Copyright © 2008, The McGraw-Hill Companies, Inc.
- A company has assets of $994,202 and equity of $374,009. Find the total liabilities.
- Calculate the total liabilities of a corporation that has assets of $4,802,559 and shareholder’s equity of $2,022,222.
- Fill in the missing items on the balance sheet shown below:
Balance Sheet as of December 31, 2007Assets Liabilities
Assets $729,943 Total liabilities $652,043
Equity
To tal equity (a)
Total assets $729,943 Total liabilities and equity (b)- Fill in the missing items on the balance sheet shown below:
Balance Sheet as of December 31, 2007
Assets Liabilities
Assets (a) Total liabilities (b)
Equity
To tal equity $30,000
Total assets $91,400 Total liabilities and equity (c)B. Balance Sheets and Valuation- A company paid $600,000 for fi xtures, which it is depreciating at a $50,000 annual rate. After the fi xtures have been in
use for 5 years, what will their value be on the company’s balance sheet? What will their actual market value be? - A company paid $750,000 for equipment. Since buying this equipment, they have taken $147,935 in depreciation for
it. At what value is this equipment listed on the company’s balance sheet?
C. Vertical and Horizontal Analysis of Balance SheetsExercises 11 to 12 are based on the balance sheet given below.Assets 2007 2006
Current Assets:
Cash $85,000 $95,000
Accounts receivable $255,000 $210,000
To tal current assets $340,000 $305,000
Property, plant, and equipment:
Buildings $362,000 $375,000
Land $250,000 $250,000
Other plant and equipment $1,875,000 $1,569,000
To tal P, P, and E $2,487,000 $2,194,000
Total Assets $2,827,000 $2,499,000Exercises 12.2 505