Solution-Create a classified balance sheet in good form

Create a classified balance sheet in good form

Assignment Help Accounting Basics

Reference no: EM132455146

Problem - The following items are taken from the financial statements of SGB Company for 2013:

Cash	$300,000
Accounts Receivable	150,000
Inventory	70,000
Accounts Payable	13,000
Supplies	20,000
Salaries Payable	10,000
Unearned Revenue	25,000
Intangible assets	98,000
Property, plant, and equipment, net	176,000
Common Stock	50,000
Additional Paid-in Capital	150,000
Retained Earnings, 12/31/2012	78,300
Long-term debt	275,000
Service revenue	483,700
Cost of Goods Sold	170,000
Rent expense	50,000
Supplies expense	15,000
Insurance expense	36,000

Required -

(1) Create a classified balance sheet in good form for the year ended 2013.

(2) Calculate the current ratio and debt ratio and explain your findings.

Reference no: EM132455146

Questions Cloud

How the employee should respond once the alarm triggers : Briefly describe the alert system and the setting. How the employee should respond once the alarm triggers, Briefly explain what triggers the alarm.

Addresses the topic of sacred buddhist texts in connection : Unit III Article Review Locate one article in the CSU Online Library that addresses the topic of sacred Buddhist texts in connection with Buddhist involvement

How does each painting reflect the religious context : How does each painting reflect the religious context in which it was created? What is the religious context or influence apparent in each painting?

How has the attitude of david changed : How has the attitude of David changed between these three representations? How is each sculpture representative of the time period and style in which it was.

Create a classified balance sheet in good form : The following items are taken from the financial statements of SGB Company for 2013: Create a classified balance sheet in good form for the year ended 2013

Dicuss the term forecast : Dicuss the term Forecast,explain the concept for Demand forecast for the upcoming event. Demand forecast for the upcoming year in forcast

Describe joseph stalin rise to total power in the ussr : Describe Joseph Stalin's rise to total power in the USSR and how his paranoia and desire for total control led to the terrible purges of the 1930s.

How to write the elements in a research paper : What are five things you learned about how to write the elements in a research paper?

Begin to effectively organize ideas : Outlines are helpful tools to utilize in the writing process in order to begin to effectively organize ideas. After brainstorming, creating an outline allows

User Account

All Pages

Create a classified balance sheet in good form

Reference no: EM132455146

Reference no: EM132455146

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT