Question Details

[answered] ACC/421 Week 4 Intermediate Accounting 1 Hello, Can you hel


ACC/421 Week 4

Intermediate Accounting 1

Hello,

Can you help me critique the balance Sheet below Sameed Brothers Corporation (000s omitted)?


Thank you

Instructions

Indicate the deficiencies, if any, in the foregoing presentation of Fonzarelli Corporation?s assets.

Page 252 CA5-3 WRITING (Critique of Balance Sheet Format and Content) The following is the balance sheet of Sameed Brothers Corporation (000s omitted).

SAMEED BROTHERS CORPORATION
Balance Sheet
December 31, 2017
Assets
Current assets
??Cash $26,000
??Marketable securities 18,000
??Accounts receivable 25,000
??Inventory 20,000
??Supplies 4,000
??Stock investment in subsidiary company ?20,000 $113,000
Investments
??Treasury stock 25,000
Property, plant, and equipment
??Buildings and land 91,000
??Less: Reserve for depreciation ?31,000 60,000
Other assets
??Cash surrender value of life insurance 19,000
????Total assets $217,000
?? ? ????
Liabilities and Stockholders? Equity
Current liabilities
??Accounts payable $22,000
??Reserve for income taxes 15,000
??Customers? accounts with credit balances ??????1 $ 37,001
Deferred credits
??Unamortized premium on bonds payable 2,000
Long-term liabilities
??Bonds payable ??60,000
????Total liabilities 99,001
Common stock
??Common stock, par $5 85,000
??Earned surplus 24,999
??Cash dividends declared ???8,000 ?117,999
???Total liabilities and stockholders? equity

$217,000

?

 


Solution details:
STATUS
Answered
QUALITY
Approved
ANSWER RATING

This question was answered on: Sep 18, 2020

PRICE: $15

Solution~0001003945.zip (25.37 KB)

Buy this answer for only: $15

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free copy from our tutoring website www.aceyourhomework.com (Deadline assured. Flexible pricing. TurnItIn Report provided)

Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
SiteLock

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Sep 18, 2020

EXPERT

Tutor

ANSWER RATING

GET INSTANT HELP/h4>

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

  • As a reference for in-depth understanding of the subject.
  • As a source of ideas / reasoning for your own research (if properly referenced)
  • For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

NEW ASSIGNMENT HELP?

Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN YOUR SET DEADLINE.

Order Now