Balance Sheet Relationships
On the Clark and Company Inc. balance sheet, indicate the amount that should appear for each of the items (a) through (n) on the balance sheet.
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Clark and Company Inc. |
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Consolidated Balance Sheet |
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December 31, 2008 |
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Assets |
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Current assets: |
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Cash |
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$ 24,250 |
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Investment securities |
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(a) |
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Accounts and notes receivable |
$ (b) |
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Allowance for doubtful accounts and notes receivable |
7,851 |
121,664 |
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Inventories |
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197,682 |
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Other current assets |
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14,227 |
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Total current assets |
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$ (c) |
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Noncurrent assets: |
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Property, plant, and equipment |
$694,604 |
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Accumulated depreciation |
(d) |
$398,832 |
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Other noncurrent assets |
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13,217 |
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Total noncurrent assets |
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412,049 |
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Total assets |
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$792,514 |
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Liabilities and Owners’ Equity |
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Current liabilities: |
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Accounts payable |
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$ (e) |
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Payable to banks |
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34,236 |
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Income taxes payable |
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9,211 |
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Current installments of long-term debt |
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6,341 |
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Accrued expenses |
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7,100 |
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Total current liabilities |
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$ (f) |
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Noncurrent liabilities: |
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Long-term debt |
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$ (g) |
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Deferred income tax liability |
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41,218 |
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Minority interest in subsidiaries |
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4,201 |
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Total noncurrent liabilities |
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205,410 |
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Total liabilities |
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$350,782 |
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Contributed capital: |
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Preferred stock, no par value (authorized |
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1,618 shares; issued 1,115 shares) |
$ 12,392 |
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Common stock, $1 par value per share |
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(authorized 60,000 shares; issued 21,842 shares) |
(h) |
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Additional paid-in capital |
(i) |
(j) |
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Total contributed capital |
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$ (k) |
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Retained earnings |
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390,625 |
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Total contributed capital and retained earnings |
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$ (l) |
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Less: Treasury stock, at cost (1,229 shares) |
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27,038 |
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Total owners’ equity |
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$ (m) |
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Total liabilities and owners’ equity |
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$ (n) |