Following is a statement of cash flows (indirect method) for Hartford, Inc., for
ID: 2420528 • Letter: F
Question
Following is a statement of cash flows (indirect method) for Hartford, Inc., for the year ended December 31, 2014. Also shown is a partially completed comparative balance sheet as of December 31, 2014 and 2013:
Complete the December 31, 2014 and 2013, balance sheets.
Following is a statement of cash flows (indirect method) for Hartford, Inc., for the year ended December 31, 2014. Also shown is a partially completed comparative balance sheet as of December 31, 2014 and 2013:
a. Complete the December 31, 2014 and 2013, balance sheets HARTFORD, INC. Comparative Balance Sheets At December 31, 2014 and 2013 2014 2013 Assets: Current assets Cash Accounts receivable Inventory $ 132,000 109,500 84,000 Total current assets Land 60,000 Buildings and equipment 390,000 Less: Accumulated depreciation (184,500) Total land, buildings and equipment Total assets Liabilities: Current liabilities $43,500 Accounts payable Short-term debt Notes payable Total current liabilities 48,000 54,000 $ 127,500 Long-term debt Stockholders' Equity Common stock Retained earnings $ 60,000 Total stockholders' equity Total liabilities and stockholders' equityExplanation / Answer
Comparative balance Sheet 2014 $ 2013 $ Assets Cash 79500 132000 Accounts Receivable 75000 109500 Inventory 84000 73500 Total current Assets 238500 315000 Land 60000 60000 Building & equipment 390000 243000 Less: accumulated deprecyiation -252000 -184500 Total assets 436500 433500 Liabilities Current liabilities Accounts payable 34500 43500 Short Term debt 48000 40500 Notes Payble 72000 54000 TotalCurrent liabilities 154500 138000 Long Term debt 127500 165000 Stockholder Equity Common stock 60000 45000 Retained Eranings 94500 85500 Total Stockholder Equity 154500 130500 Total Liabilities & Stockhoder equity 436500 433500