Prepare a 2018 balance sheet for Rogers Corp. based on the following information

Question

Prepare a 2018 balance sheet for Rogers Corp. based on the following information: Cash $127,000; Patents and copyrights $660,000; Accounts payable $210,000; Accounts receivable - $115,000; Tangible net fixed assets - $1,610,000; Inventory $286,000; Notes payable $155,000; Accumulated retained earnings $1,368,000; Long-term debt $830,000. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.) ROGERS CORP. Balance Sheet Assets Current assets Total assets Liabilities Current liabilities Total liabilities Total liabilities &owners' equity

Explanation / Answer

ROGERS CORP

BALANCE SHEET

ROGERS CORP

BALANCE SHEET

Assets cash 127000 Accounts receivable 115000 Inventory 286000 Total current asset 528000 Tangible net fixed asset 1610000 patents and copyright 660000 Total non current asset 2270000 Total asset 2798000 liabilities Accounts payable 210000 notes payable 155000 Current liabilities 365000 long term debt 830000 total liabilities 1195000 common stock    [1603000-1368000] 235000 Retained earning   1368000 total stockholders equity   [2798000-1195000] 1603000 Total liabilities and owners equity 2798000

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