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  • Feb 2, 2011, 09:45 AM
    mcfaanto
    Balance sheet miss ing amounts?
    The following amounts are missing in the Balance sheet of Weavers Inc. a textile manufacturing company. How do I find the missing amounts?

    January 1, 2009 December 31, 2009
    Cash 4,784,000 ?
    Accounts Receivable 9,310,000 15,313,600
    Inventories 760,700 1,346,700
    Prepaid Expenses 1,033,300 758,200
    Loans to Shareholders 31,300 72,700
    Buildings and trucks 13,820,300 24,434,800
    Accumulated Depre ciation (8,423,500) ?
    Land 180,900 1,651,300
    Life Insurance 1,156,600 1,834,400

    TOTAL ASSETS 22,653,600 41,497,000


    Accounts Payable 5,240,400 8,296,300
    Notes payables (short term) 512,200 898,900
    Loans From Shareholders 15,575,100 19,196,400
    Notes payables (long term) 2,182,100 3,383,500
    Loan on Life insurance 531,200 1,620,600
    Capital stock 100,300 100,300
    Paid-in-capital 955,900 955,900
    Retained earnings (1,037,400) ?
    Accum adjustments acct - ?
    Previously taxed income 206,000 ?
    Treasury stock (1,612,200) (1,612,200)

    TOTAL LIABILITIES & CAPITAl 22,653,600 41,497,000

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