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Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall
Edition 9ISBN: 0073527068Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall
Edition 9ISBN: 0073527068
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Step 1 of 2
a. | HARTFORD, INC. Balance Sheets December 31, 2011, and 2010 | ||
Assets: |
| ||
Current assets: | 2011 | 2010 | |
Cash | $ 53,000 | $ 88,000 | |
Accounts receivable | 50,000 | 73,000 | |
Inventory | 56,000 | 49,000 | |
Total current assets | $159,000 | $210,000 | |
Land | 40,000 | 40,000 | |
Buildings and equipment | 260,000 | 162,000 | |
Less: Accumulated depreciation | (168,000) | (123,000) | |
Total land, buildings and equipment | $132,000 | $ 79,000 | |
Total assets | $291,000 | $289,000 | |
Liabilities: |
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| |
Current liabilities: |
|
| |
Accounts payable | $ 23,000 | $ 29,000 | |
Short-term debt | 32,000 | 27,000 | |
Notes payable | 48,000 | 36,000 | |
Total current liabilities | $103,000 | $ 92,000 | |
Long-term debt | $ 85,000 | $110,000 | |
Owners' Equity: |
|
| |
Common stock | $ 40,000 | $ 30,000 | |
Retained earnings | 63,000 | 57,000 | |
Total owners' equity | $103,000 | $ 87,000 | |
Total liabilities and owners' equity | $291,000 | $289,000 | |
Step 2 of 2
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