The folown, tems were taken from the finanoul statements of Pina Colada Company.
ID: 2550953 • Letter: T
Question
The folown, tems were taken from the finanoul statements of Pina Colada Company. (Aamounts are in thousands.) Long-term debe Prepaid insurance Eqipment Stock investments Olong-tem) 300 Common stock Debt investments (short tem) 3,500 Retained eamings Notes payable (due in 2020) Cash $1,000 Accumualated depreciasion-equipment $5,100 1,400 500 10,750 3,100 ,200 ,500 Accounts payable Notes payable (due after 2020) 750 11,800 400 Accounts seceialb 2,200 Inventory Prepare a classfied balance sheet in good foem as of December 31, 2019. (Enter amounts in thosand List Corrent Assets in onder of Siquidity.) Pina Celada CompanyExplanation / Answer
Answer:
Pina colada company
Balance sheet
Assets
Current Assets
Cash on hands
2200
Account receivable
2200
Inventories
1500
Prepaid expanses
750
Short term investment
3500
Total current Assets
10150
Long term investment
Long term investment
300
Total Long term investment
300
Property plant and equipment
Equipment
11800
Less: accumulated depreciation
-5100
Total Property plant and equipment
6700
Total Assets
17150
Liability and share holder's Equity
Current liability
Accounts payable
1400
Notes payable
400
Current liability
1800
Long term liability
Long term Debt
1000
Long term Notes payable
500
1500
Total Liability
Stockholder's Equity
Common stock
10750
Retained earning
3100
Total Stockholder's Equity
13850
Total liability and Stockholder's Equity
17150
Assets
Current Assets
Cash on hands
2200
Account receivable
2200
Inventories
1500
Prepaid expanses
750
Short term investment
3500
Total current Assets
10150
Long term investment
Long term investment
300
Total Long term investment
300
Property plant and equipment
Equipment
11800
Less: accumulated depreciation
-5100
Total Property plant and equipment
6700
Total Assets
17150
Liability and share holder's Equity
Current liability
Accounts payable
1400
Notes payable
400
Current liability
1800
Long term liability
Long term Debt
1000
Long term Notes payable
500
1500
Total Liability
Stockholder's Equity
Common stock
10750
Retained earning
3100
Total Stockholder's Equity
13850
Total liability and Stockholder's Equity
17150
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