[shanefly]

Complete the Balance Sheet for Epsico, Inc at December 31, 2004

Net Income for the year ended December 31, 2004 was $26
Dividents paid during the year ended December 31, 2004 was $8
Cash increased $8 during the year ended December 31, 2004
The cost of new equipment acquired during 2004 was $15; no equipment was disposed of.
There were no transactions affecting the land account during 2004, but it is estimated that the fair market value of the land at December 31, 2004 is $42.

Required:
Complete the balance sheet for Epsico Inc at December 31, 2004


Thanks very much.

[morgaine300]

Please see the guidelines for posting homework problems:
Ask Me Help Desk - Announcements in Forum : Homework Help

We aren't here just to do your work, so we want to see what you have attempted first. Or ask specifically what you don't understand.

That said, there isn't sufficient info here to even make a balance sheet. I think all you did was give some "additional info" presented in the problem, but didn't present the main part of the problem to begin with.

[shanz2430]

this Q is incomplete
Following are the values given
2008 2007 2008 2007

Assets Liabilities and Owner's Equity
Current Assets: Current Liabilities:
Cash 30 Loan payable 49 40
Acc. Receivable 126 120 Accounts Payable 123 110
Inventory 241 230 ___ ___
Total Current Assets --- 380 Total Current Liabilities 172 150

Land --- 25 Long term Borrowings --- 80
Equipment --- 375 Total Liabilities --- 230
Less: Accumulated Owners Equity
Depriciation (180) (160) Ordinary Share 200 200
Retained Earnings --- 190
Total Land & Equip. --- 240 Total Owner's Equity --- 390
Total Assets --- 620 Total L and OE --- 620

We need to Calculate the --- from the information provided in the Q.
Can someone please solve this equation.

Thank You