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Accounting 1 Page

"Sievert Corporation Balance Sheets December 31"

Question

Using the Excel Answer Sheet, prepare responses to Problem Sets P2-6A
(Page 85-86), and P13-2A (Page 731-732), from Chapter 2 and 13 of
Financial Accounting: Tools for business decision making (6th ed.) by
John Wiley & Sons.

Solution

Title: "Sievert Corporation Balance Sheets December 31"
Length: 1 pages (275 Words)
Style: N/A

Preview

Assets

2012
2011
Cash

$28,000 
$20,000 
Receivables (net)

70,000
62,000
Other current assets

90,000
73,000
Long-term investments

62,000
60,000
Plant and equipment (net)
510,000
470,000
Total assets

$760,000 
$685,000 
Liabilities and Stockholders’ Equity




Current liabilities

75,000
70,000
Long-term debt

80,000
90,000
Common stock

330000
300000
Retained earnings

275000
225000
Total liabilities and stockholders’ equity
760,000
685,000







SIEVERT CORPORATION
Income Statement
For the Years Ended December 31











2012
2011
Sales

$750,000 
$680,000 
Cost of goods sold

440,000
400,000
Operating expenses (including income taxes)
240,000
220,000
Net income

$70,000 
$60,000 
$6.00

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