Question & Answer: Balance Sheet Schedules In its annual report to stockholders, Hakobe Inc. presents a condensed balance sheet with detailed data pr…..

detaileds e Balance Sheet Schedules In its annual report to stockholders provided in supplementary schedules Hakobe Inc presents a conden annc presents a condensed balance sheet with g sections of the balance sheet From the adjusted trial balance of Hakobe, prepare the followin properly classifying all accounts as to balance sheet categories: (a) Current assets 1. (e) Current liabilities lb) Property, plant, and equipment (c) Intangible assets (d) Total assets Noncurrent (g) Owners equity h) Total liabilities and owners equity 2. Compute the current ratio and debt ratio for Hakobe. Hakobe Inc. Adjusted Trial Balance December 31, 2015 Debit 43,700 15,000 22,000 2,100 79,500 Cash Investment securities (trading) Accrued interest on notes receivable Accounts receivable Allowance for doubtful accounts. … Inventory Prepaid expenses Accounts payable Notes payable-trade creditors 4,600 59,300 8,200 57,600 11,000 950 103,000 Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Patents Franchises Bonds payable, 8%-issue 1 (mature 12/31/17) Bonds payable, 1296-issue 2 (mature 12/31/19. … Accrued interest on bonds payable Premium on bonds payable-issue 1 Discount on bonds payable-issue 2 192,000 37,000 85,000 21,000 5,900 82,110 65,000 125,000 7500 2.500 12,500 Mortgage payable Accrued interest on mortgage payable. 72,000 4,320 Capital stock, par value $1; 10,000 shares authorized 5,000 shares issued Additional paid-in capital Retained earnings Treasury stock--at cost (500 shares) 5,000 123,700 251,340 .16,000 $757 410 5757,410

Balance Sheet Schedules In its annual report to stockholders, Hakobe Inc. presents a condensed balance sheet with detailed data provided in supplementary schedules. 1. From the adjusted trial balance of Hakobe, prepare the following sections of the balance sheet, properly classifying all accounts as to balance sheet categories: (a) Current assets (b) Property, plant, and equipment (c) Intangible assets (d) Total assets (e) Current liabilities (f) Noncurrent liabilities (g) Owners’ equity (h) Total liabilities and owners’ equity 2. Compute the current ratio and debt ratio for Hakobe.

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Question & Answer: Balance Sheet Schedules In its annual report to stockholders, Hakobe Inc. presents a condensed balance sheet with detailed data pr..... 1

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