Describe the specific element of the balance sheet

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Problem 1: Describe the specific element of the balance sheet (assets, liabilities, and owners' equity), and prepare a balance sheet with assets and liabilities properly classified into current and noncurrent categories.

Problem 2: Using the following information, compute

(a) total contributed capital

(b) total accumulated other comprehensive income, and

(c)total stockholders' equity:

Additional Paid-In Capital, Common ..........................................................................................$9,000

Common Stock, at par...............................................................................................................................400

Cumulative Translation Adjustment (equity reduction), ending......................................2,000

Treasury Stock...............................................................................................................................................700

Retained Earnings (post closing, or ending) ...............................................................................1,500

Cumulative Unrealized Gain on Available-for-Sale Securities, ending............................1,100

Reference no: EM132824092

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