Homework Soursebut a 8500 in 10 points 314888 147080 238888 360000 on the b
but a $8,500 in 10 points 314,888 147,080 238,888 (360,000) on the balance sheet In ition should be c sheets of these two companies as of
Solution
Requirement 1
How each of the above figures were derived is explained alongwith requirement 2
Requirement 2
every adjustment above has a second effect. as suggested in the problem, the second effect is given through retained earnings.
| Accounts | |
| Cash | 79800 |
| Receivables | 461000 |
| Inventory | 572350 |
| Land | 514000 |
| Buildings (net) | 731200 |
| Equipment (net) | 253000 |
| Investment in Tucker | 0 |
| Total Assets | 2611350 |
| Accounts Payable | 260500 |
| Long Term Liabilities | 1116000 |
| Common Stock $1 Par Value | 130000 |
| Additional Paid in Capital | 531500 |
| Retained Earnings,1/1/18 | 573350 |
| 2611350 |
