60.1K

Verified Solution

Link Copied!

Comparative balance sheet data for the More Company at the end of fiscal year 2020 and 2021 follows: (7 Marks) More Company Balance Sheet June, 2021 and 2020 Assets 2021 Cash 2020 $68,000 43,000 Long-term investments Land, buildings, and equipment (net) Intangible assets 162,000 $71,000 67,000 95,000 9,400 5.000 $347.400 11.300 Other assets 8.000 Total assets $292.300 Liabilities Accounts payable Long-term liabilities -8% bonds Total liabilities $37,100 23.500 $ 34,000 17.900 $ 51,900 $60.600 Stockholders' Equity 696 preferred stock Common stock Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $7.500 50.000 46,000 $7,500 50,000 46,000 136.900 $240.400 S292.300 183.300 $286.800 $347.400 Comparative balance sheet data for the More Company at the end of fiscal year 2020 and 2021 follows: (7 Marks) More Company Balance Sheet June, 2021 and 2020 Assets 2021 Cash 2020 $68,000 43,000 Long-term investments Land, buildings, and equipment (net) Intangible assets 162,000 $71,000 67,000 95,000 9,400 5.000 $347.400 11.300 Other assets 8.000 Total assets $292.300 Liabilities Accounts payable Long-term liabilities -8% bonds Total liabilities $37,100 23.500 $ 34,000 17.900 $ 51,900 $60.600 Stockholders' Equity 696 preferred stock Common stock Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $7.500 50.000 46,000 $7,500 50,000 46,000 136.900 $240.400 S292.300 183.300 $286.800 $347.400

Answer & Explanation Solved by verified expert

See Answer