Balance sheet preparation use the appropriate items from the following to prepar
ID: 2730190 • Letter: B
Question
Balance sheet preparation use the appropriate items from the following to prepare in good from Mellark's baked goods balance sheet at December 31. 2015. Complete the fragment of the balance sheet below (5000): (Select the correct account from the drop down menu and round to the nearest dollar.) Complete the fragment of the balance sheet below (5000): (Select the correct account from the drop down menu and round to the nearest dollar.) Complete the fragment of the balance sheet below (5000): (Select the correct, account from the drop down menu and round to the nearest dollar.) Complete the fragment of the balance sheet below(5000): (Select the correct, account from the drop down menu and round to the nearest dollar.) Complete the fragment of the balance sheet below (5000): (Select the correct account from the drop down menu and round to the nearest dollar.) Complete the fragment of the balance sheet below (5000): (Select the correct account from the drop down menu and round to the nearest dollar.) Complete the fragment of the balance sheet below (5000): (Round to the rarest integer.) Total liabilities and stockholders' equityExplanation / Answer
Mellark's Baked Goods
Balance sheet as of December 31, 2015
Assets
Current assets
Account receivables
$ 454
Cash
$ 220
Inventories
$ 374
Marketable securities
$ 79
Total current assets
$ 1,127
Gross fixed assets
Equipment
$ 143
Buildings
$ 220
Machinery
$ 422
Furniture and fixtures
$ 165
Land
$ 104
Vehicles
$ 20
Total gross fixed assets
$ 1,074
Accumulated depreciation
$ 270
Net fixed assets
$ 804
Total assets
$ 1,931
Liabilities and Stockholder's equity
Current liabilities
Account payable
$ 222
Accruals
$ 58
Notes payable
$ 471
Total current liabilities
$ 751
Long term debts
$ 423
Total liabilities
$ 1,174
Stockholder's equity
Common stock (at par)
$ 88
Pain in capital in excess of par
$ 355
Preferred stock
$ 98
Retained earnings
$ 216
Total Stockholder's equity
$ 757
Total Liabilities and Stockholder's equity
$ 1,931
Mellark's Baked Goods
Balance sheet as of December 31, 2015
Assets
Current assets
Account receivables
$ 454
Cash
$ 220
Inventories
$ 374
Marketable securities
$ 79
Total current assets
$ 1,127
Gross fixed assets
Equipment
$ 143
Buildings
$ 220
Machinery
$ 422
Furniture and fixtures
$ 165
Land
$ 104
Vehicles
$ 20
Total gross fixed assets
$ 1,074
Accumulated depreciation
$ 270
Net fixed assets
$ 804
Total assets
$ 1,931
Liabilities and Stockholder's equity
Current liabilities
Account payable
$ 222
Accruals
$ 58
Notes payable
$ 471
Total current liabilities
$ 751
Long term debts
$ 423
Total liabilities
$ 1,174
Stockholder's equity
Common stock (at par)
$ 88
Pain in capital in excess of par
$ 355
Preferred stock
$ 98
Retained earnings
$ 216
Total Stockholder's equity
$ 757
Total Liabilities and Stockholder's equity
$ 1,931
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