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.
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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|
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Current assets: |
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|
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Cash |
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$ 24,250 |
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Investment securities |
|
(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) |
Noncurrent assets: |
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|
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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 |
|
|
412,049 |
Total assets |
|
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$792,514 |
Liabilities and Owners’ Equity |
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|
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Current liabilities: |
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|
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Accounts payable |
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$ (e) |
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Payable to banks |
|
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 |
|
7,100 |
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Total current liabilities |
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$ (f) |
Noncurrent liabilities: |
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|
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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 |
|
4,201 |
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Total noncurrent liabilities |
|
|
205,410 |
Total liabilities |
|
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$350,782 |
Contributed capital: |
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|
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Preferred stock, no par value (authorized |
|
|
|
1,618 shares; issued 1,115 shares) |
$ 12,392 |
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Common stock, $1 par value per share |
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|
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(authorized 60,000 shares; issued 21,842 shares) |
(h) |
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Additional paid-in capital |
(i) |
(j) |
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Total contributed capital |
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$ (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) |
|
27,038 |
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Total owners’ equity |
|
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$ (m) |
Total liabilities and owners’ equity |
|
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$ (n) |