Complete the balance sheet at december

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Reference no: EM13891164

Complete the balance sheet using cash flow data Following is a partially completed balance sheet for Epsico, Inc., at December 31, 2013, together with com- parative data for the year ended December 31, 2012. From the statement of cash flows for the year ended December 31, 2013, you determine the following:

Net income for the year ended December 31, 2013, was $78. Dividends paid during the year ended December 31, 2013, were $24. Cash increased $24 during the year ended December 31, 2013.

The cost of new equipment acquired during 2013 was $45; no equipment was disposed of.

There were no transactions affecting the land account during 2013, but it is estimated that the fair market value of the land at December 31, 2013, is $126.

Required:

Complete the balance sheet at December 31, 2013.

EPSICO, INC.

Balance Sheets December  31,  2013  and 2012

2013

2012

2013

2012

Assets

Current assets: Cash

Accounts receivable Inventory

Total current assets

 

 

Land Equipment

Less: Accumulated

depreciation

Total land & equipment

 

Total assets

 

 

 

$     

 

 

 

$     90

Liabilities and Stockholders' Equity

Current liabilities:

Note payable                      $147

Accounts payable               369

 

 

Total current liabilities                                              $516 Long-term debt                              

Total liabilities                          $    

 

Stockholders' Equity

Common stock                       $600

Retained earnings                                   Total stockholders' equity    $      

Total liabilities and

stockholders' equity            $    

 

 

 

$   120

378

360

     330

  723

     690

 

$     

$1,140

$   450

 

 

     240

$     

$    75

$   690

 

1,125

 

 

 

$   600

 (540)

    (480)

     570

$     

$  720

$1,170

 

$     

 

$1,860

 

$1,860

Reference no: EM13891164

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