I am to make a balance sheet and a statement of cash flows. I am


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I am to make a balance sheet and a statement of cash flows. I am having trouble classifying the liabilities and I also need to know if the Assets portion is correct. All the work I have done for the problem is in these two attachments. I need some guidance and some help to complete this HW ACTP5006 – Worksheet 2 Work.xlsx SnackTastic’s Corp Balance Sheet December 31, 2013 Assets Current Assets Cash Available-for-Sale Securities – At Fair Value Investment in Ferrari Corp Stock Accounts Receivable Less: Allowance for Doubtful Accounts Restricted as Collateral Against Loan Inventories – At Average Cost Supplies on Hand Prepaid Expenses Total Current Assets Long-Term Investments Investment in Sampson Corp Stock Investment in Durango Corp Bonds Property, Plant, and Equipment Land – At Cost Buildings – At Cost Equipment Less: Accumulated Depreciation Total Property, Plant, and Equipment $1,354,600 41,250 $350,400 15,250 18,200 $316,950 546,500 27,850 501,400 $2,788,550 48,750 51,500 100,250 585,000 1,020,500 365,000 140,000 1,245,500 1,830,500 Intangible Assets Trademark Total Assets 63,000 $4,782,300 Liabilities and Stockholders’ Equity Current Liabilities Notes Payable Accounts Payable Accrued Interest on Notes Payable Accrued Salaries, Wages, and Other Liabilities Total Current Liabilities $336,870 83,750 124,268 42,000 $586,888 Long-Term Debt Twenty-Year, 10% Bonds, due 12/31/2020 Less: Discount on Bonds Payable Long Term Notes Payable Total Liabilities Stockholders’s Equity Paid-in on Capital Stock Preferred Authorized, issued, and Outstanding 25,000 Shares of $10 Par Value Common Authorized, 100,000 Shares of $5 Par Value; Issued and Additional Paid-In Capital Unrealized Gain on Sale of Ferrari Corp Stock Unrealized Holding Gain – Equity Retained Earnings Total Stockholders’ Equity – SnackTastic Corp Total Stockholders’ Equity Total Liabilities and Stockholders’ Equity 800,000 73,010 726,990 677,500 1,991,378 250,000 500,000 178,000 3,750 3,350 935,100 1,991,378 Read more

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