Rubber Industries: Evaluate the Balance sheet; explain proper treatment of items
ID: 2692310 • Letter: R
Question
Rubber Industries: Evaluate the Balance sheet; explain proper treatment of items The following is the balance sheet of Rubber Industries: RUBBER INDUSTRIES Balance Sheet For the Year Ended December 31, 2008 Assets Current assets: Cash $ 50,000 Marketable equity securities 19,000 Accounts receivable, net 60,000 Inventory 30,000 Treasury stock 20,000 Total current assets $179,000 Plant assets: Land and buildings, net 160,000 Investments: Short-term U.S. notes 20,000 Other assets: Supplies 4,000 Total assets $363,000 Liabilities and Stockholders' Equity Liabilities: Bonds payable $123,000 Accounts payable 40,000 Wages payable 10,000 Total liabilities $173,000 Stockholders' equity: Common stock ($20 par, 20,000 shares authorized, 6,000 shares outstanding) 120,000 Retained earnings 50,000 Redeemable preferred stock 20,000 Total liabilities and stockholders' equity $363,000 Indicate your criticisms of the balance sheet and briefly explain the proper treatment of any item criticized.Explanation / Answer
pls go through this link it may help you
http://ebooks.narotama.ac.id/files/Financial%20Reporting%20&%20Analysis%20(Using%20Financial%20Accounting%20Information)/Chapter%203%20Balance%20Sheet.pdf
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