ACC- The Weikart Company

$16.00

Description

The Weikart Company had the following items on its December 31, 20X0, balance sheet and 20X0 income statement (in dollars except for number of shares outstanding):

Cash and equivalent $55,000
Revenues 800,000
Notes payable 51,000
Long-term debt, excluding current portion 210,000
Accounts receivable, net 48,000
Provision for income taxes 60,000
Other long-term assets 110,000
Interest expense 55,000
Deferred income tax liability-long-term 44,000
Retained earnings 204,000
Income taxes payable 37,000
Cost of sales 470,000
Inventories 36,000
Prepaid…

1. Prepare in proper for from December 31, 20X0, balance sheet and the 20X0 income statement for Weikart Company. Include the proper amount for additional paid in capital.

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