Minett Boatbuilders Company prepared the following

balance sheet Your analysis of #2426

Minett Boatbuilders Company prepared the following balance sheet:Your analysis of these
accounts reveals the following information:1. Working capital consists of:Land.........................
$12,000Accounts due from customers .............. 18,000Accounts due to suppliers.................
(22,700)Inventories, including office supplies of $3,500....... 35,500Income taxes owed
.................. (16,400)Wages owed ...................... (3,600)Note owed to bank (due December 31,
2018)........ (17,000)Securities held as a short-term investment 17,000....... $22,8002. Other
assets include:Cash........................ $12,300Prepaid insurance .................... 2,400Buildings and
equipment ................. 100,000Discount on bonds payable ............... 3,000Investment in
available-for-sale stock ........... 29,000Treasury stock (at cost) .................. 5,300 $152,0003.
Noncurrent liabilities consist of:Bonds payable (due 2023) ................. $33,000Allowance for
doubtful accounts ............. 1,400Additional paid-in capital on preferred stock ........
2,600Common stock, $5 par ................. 25,000 $62,0004. Shareholders’ equity
includes:Accumulated depreciation: Buildings and equipment..... $40,000Preferred stock, $100
par ................ 12,000Additional paid-in capital on common stock ......... 15,600Retained
earnings .................... 40,000Accrued pension cost .................. 6,500Unrealized decrease in
value of available-for-sale securities .. (1,300) $112,800Required:Based on your analysis,
prepare a properly classified December 31, 2016, balance sheet for Minett Boatbuilders.View
Solution:
Minett Boatbuilders Company prepared the following balance sheet Your analysis of

ANSWER
http://paperinstant.com/downloads/minett-boatbuilders-company-prepared-the-following-balance-
sheet-your-analysis-of/

1/1
Powered by TCPDF (www.tcpdf.org)