How to get following answers right using equations and calcu

How to get following answers right using equations and calculator (no excel)

15. Random items from the Smyth Company Balance Sheet for December 31, 2005 are given below. Use these items to reconstruct the balance sheet and solve for the amount of CASH shown on the Smyth Balance Sheet.

Long-term debt (excluding current portion) = 571
Current portion of long-term debt = 42
Net fixed assets = 927

16.The 2011 and 2012 Balance Sheets for Jacob, Inc. contained the following entries:

Jacob had materials purchases in 2011 of $1,551 and materials purchases in 2012 of $2,754 . What did Jacob record as Cost of Goods Sold (COGS) on its 2012 income statement? (Record your answer without a dollar sign and without commas).

Answer:

Inventories = 276
Retained earnings = 237
Accruals = 158
Accumulated depreciation = 80
Common stock ($0.02 par value) = 323
Additional paid in capital = 104
Accounts receivable = 340
Notes payable = 208
Accounts payable = 168

CASH = ???

Answer:

12/31/2011 12/31/2012
Accounts receivable $267 $724
Inventories $320 $710
Net fixed assets $509 $140
Accounts payable $113 $781

Solution

Cash is calculated as under:

Smyth Company
Budgeted Balance Sheet
As of Dec 31, 2005
Particulars Amount ($) Amount ($)
ASSETS
Current Assets:
Accounts Receivables 340
Cash 100
Inventories 276
Total Current Assets 716
Net fixed assets 927
Total Assets 1,643
LIABILITIES AND STOCKHOLDERS EQUITY
Liabilities :
Current Liabilities
Accounts Payable 168
Notes Payable 208
Accruals 158
Total Current Liabilities 366
Long term debt 571
Short term debt 42
Total Stockholders\' Equity
Common Stock 323
Additional paid in capital 104
Retained Earnings 237
Total Stockholders\' Equity 664
Total Liabilities and stockholders’ equity 1,643

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