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Question

For Neo, From the following accounts, prepare a balance sheet for Chester Co. for the current calendar year. Accrued interest payable $ 1,400 Property, plant, and equipment 34,000 Inventory 12,400 Additional paid-in capital 7,000 Deferred taxes payable (noncurrent) 1,600 Cash 1,500 Accumulated depreciation 10,500 Bonds payable 14,500 Accounts payable 4,300 Common stock 2,500 Prepaid expenses 700 Land held for sale 9,200 Retained earnings ? Current portion of long-term debt 1,700 Accounts receivable 6,200 Notes payable 8,700 I need assistance. I have completed most of it but have gotten lost somehwere. Can you help? I can send you what I have so far so you can explain to me what I am doing wrong. I have done most of the balance sheet & read the chapter over but I am stuck on where to plug in certain items & in what category they belong in.

Submitted: 17 days and 23 hours ago.
Category: Homework
Value: $9
Status: CLOSED
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Optional Information

Subject: financial reporting

Already Tried:
I have done most of the balance sheet & read the chapter over but I am stuck on where to plug in certain items & in what category they belong in.

Posted by Neo 17 days and 23 hours ago.

Info Request

Good day!

Please upload the file in http://www.mediafire.com and please post the sharing link here.

17 days and 23 hours ago.

Reply

Hi! Here is what I have so far....

http://www.mediafire.com/?nqyhqtx4htw

17 days and 23 hours ago.

Reply

Sorry, is this link better?

 

http://www.mediafire.com/file/nqyhqtx4htw/Week 2 day 7.xls

Posted by Neo 17 days and 23 hours ago.

Info Request

Please give me a copy of the problem as well.

17 days and 23 hours ago.

Reply

http://www.mediafire.com/file/ymvj2qjuk5y/2.14 balance sheet problem.doc

Posted by Neo 17 days and 23 hours ago.

Info Request

Are you sure that this is the right template?

17 days and 23 hours ago.

Reply

thats the one i used. why do you ask? Is that wrong as well?

17 days and 23 hours ago.

Reply

i was not given a set template

Posted by Neo 17 days and 22 hours ago.

Info Request

Yes; the MS Excel Template do not fit the problem. Maybe that's why you find it difficult to construct the balance sheet.

17 days and 22 hours ago.

Reply

Oh my! Can you assist me? & can you tell me why it is wrong? I want to understand rather than just get the answers with no explanation.

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Expert: Neo
Pos. Feedback: 99.6 %
Accepts: 
Answered: 11/5/2009

Tutor

BS Accounting, Online and Private Tutor

17 days and 22 hours ago.

Reply

What type of template did I have?

Posted by Neo 17 days and 22 hours ago.

Info Request

I do not know. Maybe that is from another problem or another edition.

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