Problem 3–4
WEISMULLER PUBLISHING COMPANY
Balance Sheet
At December 31, 2018
Assets
Current assets:
Cash and cash equivalents (1) ………………………………………….. $ 95,000
Short-term investments …………………………………………………… 110,000
Property, plant, and equipment:
Other assets:
liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable ……………………………………………………………. $ 60,000
Long-term liabilities:
Shareholders’ equity:
Common stock, no par value; 800,000 shares
Problem 3–5
EXCELL COMPANY
Balance Sheet
At June 30, 2018
Assets
Current assets:
Cash and cash equivalents (1) ………………………………………….. $101,000
Short-term investments …………………………………………………… 47,000
Accounts receivable, net of allowance for uncollec%ble
Investments:
Property, plant, and equipment:
635,000
Less: Accumulated depreciation-buildings ………………………… (160,000)
liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable ……………………………………………………………. $173,000
Long-term liabilities:
Note payable ………………………………………………………………….. $ 50,000
Shareholders’ equity:
Common stock, no par value; 500,000 shares
Problem 3–6
Requirement 1
VOSBURGH ELECTRONICS CORPORATION
Balance Sheet
At December 31, 2018
Assets
Current assets:
Cash and cash equivalents (1)…………………………………………… $ 117,000
Marketable securities (2)…………………………………………………. 132,000
Accounts receivable (net of allowance for uncollec%ble
115,000
Investments:
Marketable securities………………………………………………………. $ 35,000
Property, plant, and equipment:
Intangible assets:
Patent ……………………………………………………………………………. 152,000
Problem 3–6 (continued)
liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable ……………………………………………………………. $ 189,000
Dividends payable …………………………………………………………… 10,000
Long-term liabilities:
Shareholders’ equity:
Common stock, no par value; 1,000,000 shares