Following is a partially completed balance sheet for Hoeman, Inc., at December 3
ID: 2406069 • Letter: F
Question
Following is a partially completed balance sheet for Hoeman, Inc., at December 31, 2014, together with comparative data for the year ended December 31, 2013. From the statement of cash flows for the year ended December 31, 2014, you determine the following:
The land account was not affected by any transactions during the year, but the fair value of the land at December 31, 2014, was $182,500.
Complete the December 31, 2014, balance sheet. (Hint: Long-term debt is the last number to compute to make the balance sheet balance.)
Help with finding RE and Total SHE!
Following is a partially completed balance sheet for Hoeman, Inc., at December 31, 2014, together with comparative data for the year ended December 31, 2013. From the statement of cash flows for the year ended December 31, 2014, you determine the following:
Explanation / Answer
Reatined earnings Dec. 31,2014 = Retained earnings Dec. 31,2013+Net income-Dividends = 183500+97000-63000= $217500 Total stockholders' equity = 217500+51000 = $268500