Determine the common stock for Bertinelli Corp. based on the following informati
ID: 2812779 • Letter: D
Question
Determine the common stock for Bertinelli Corp. based on the following information: cash = $410,000; patents and copyrights = $780,000; accounts payable = $500,000; accounts receivable = $149,000; tangible net fixed assets = $4,100,000; inventory = $275,000; notes payable = $180,000; accumulated retained earnings = $1,175,000; long-term debt = $1,630,000.
Multiple Choice
$2,589,000
$2,931,000
$2,460,000
$1,998,000
$2,229,000
Determine the common stock for Bertinelli Corp. based on the following information: cash = $410,000; patents and copyrights = $780,000; accounts payable = $500,000; accounts receivable = $149,000; tangible net fixed assets = $4,100,000; inventory = $275,000; notes payable = $180,000; accumulated retained earnings = $1,175,000; long-term debt = $1,630,000.
Explanation / Answer
Total Assets = Cash + Accounts Receivable + Inventory + Tangible Net Fixed Assets + Patents and Copyrights
Total Assets = $410,000 + $149,000 + $275,000 + $4,100,000 + $780,000
Total Assets = $5,714,000
Total Liabilities = Accounts Payable + Notes Payable + Long-term Debt
Total Liabilities = $500,000 + $180,000 + $1,630,000
Total Liabilities = $2,310,000
Total Stockholders’ Equity = Total Assets - Total Liabilities
Total Stockholders’ Equity = $5,714,000 - $2,310,000
Total Stockholders’ Equity = $3,404,000
Total Stockholders’ Equity = Common Stock + Accumulated Retained Earnings
$3,404,000 = Common Stock + $1,175,000
Common Stock = $2,229,000
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.