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Study Problem 4 (Module 3 Page 26)

This document provides an unordered list of financial statement accounts for Belmond Inc. and asks the reader to complete an income statement, balance sheet, and assess the company's financial condition based on the statements. It lists accounts such as inventory, common stock, cash, accounts payable, long-term debt, cost of goods sold, buildings and equipment, accumulated depreciation, taxes, depreciation expense, sales, accounts receivable, and retained earnings.

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156 views1 page

Study Problem 4 (Module 3 Page 26)

This document provides an unordered list of financial statement accounts for Belmond Inc. and asks the reader to complete an income statement, balance sheet, and assess the company's financial condition based on the statements. It lists accounts such as inventory, common stock, cash, accounts payable, long-term debt, cost of goods sold, buildings and equipment, accumulated depreciation, taxes, depreciation expense, sales, accounts receivable, and retained earnings.

Uploaded by

dra_gon
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Study Problems

Activity No. 4
(Reviewing financial statements) Following is a scrambled list of accounts from the income
statement and balance sheet of Belmond, Inc.:

Inventory $ 6,500 Accounts payable 4,800


Common stock 45,000 Long-term debt 55,000
Cash 16,550 Cost of goods sold 5,750
Operating expenses 1,350 Buildings and equipment 122,000
Short-term notes payable 600 Accumulated depreciation 34,000
Interest expense 900 Taxes 1,440
Depreciation expense $ 500 General & administrative Expense 850
Sales 12,800 Retained earnings?
Accounts receivable 9,600

a. What is the firm’s net working capital?


b. Complete an income statement and a balance sheet for Belmond.
c. If you were asked to complete parts a and b as part of a training exercise, what could
you tell your boss about the company’s financial condition based on your answers?

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