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Complete the balance sheet using cash flow data Following is a partially completed balance sheet… 1 answer below » 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 View complete question » 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 View less » Dec 04 2015 02:57 PM
