Corporate finance

You have been asked to assist the chief accountant of the Stephen King Corporation in the preparation of a balance sheet. Presented below is the balance sheet of Stephen King Corporation for the current year 2011.

Stephen King Corporation

Balance Sheet

Dec 31,2011

Current assets $435000

Investments $640000

Property, plant, and equipment $1720000

Intangiable assets $305000

total assets $3100000

Current Liabilities $330000

Long-term liabilities $1000000

total liabilities and stockh equity 3100000

consider the following information:

1-The current assets section includes: cash $100000, accts receivable $170000 less $ 10000 for allowance for doubtful accts, inventories $180000, and unearned revenue $5000. The cash balance is composed of $ 114000, less a bank overdraft of $ 14000. Inventorie are stated on the loweer of the FIFO cost or market.

2- The investments section includes: The cash surrender value of life insurance contract $40000; investment in common stock, short-term (tradind) $80000 and long-term (available-for-sale) $270000; and bond sinking fund $250000. The cost and fair value of investments in common stock are the same.

3- Property, plant, and equipment includes: buildings $1040000 less accumulated depreciation $360000; equipment $450000 less accumulated depreciation $180000; land $500000; and land held for future use $270000.

4-Intangible assets include : a franchise $165000; goodwill $100000; and discount on bonds payable $40000

5- Current liabilities include: accts payable $90000; notes payable-short term $80000 and long-term $120000; and taxes payable $40000

6- Long-term liabilities are compose solely of 10% bonds payable due in 2020

The company’s management does not elect to use the fair value option for any of its financial assets or liabilities.

– Prepare a classified balance sheet

Which of these statements is false? Bonds are always less risky than stocks. The bond market is larger than the stock market. Some bonds offer high potential for rewards and, consequently, higher risk. Bonds are more important capital sources than stocks for companies and governments.

Solution:

Looking for help with your homework?
Grab a 30% Discount and Get your paper done!

30% OFF
Turnitin Report
Formatting
Title Page
Citation
Place an Order

Grab A 14% Discount on This Paper
Pages (550 words)
Approximate price: -

What Makes Us Unique?

Outstanding Quality

TheStudyPool.com is an essay writing service that helps High-school, college, University, Master’s and PhD students from distinct regions globally. Over the years, we have generated a wide range of assignments, in almost all fields. This has enhanced our ability to deliver high quality papers and outstanding work to such extents that we have retained most of our customers.

Experienced Academic Writers

TheStudyPool.com has invested in a highly selective hiring process that is unnatural and distinct from other companies. Additionally, our reward techniques and approaches are structured in ways that motivate our writers to give high quality work on all orders.

Free revisions

Our customers can freely place orders on revision on instances where they feel that something ought to be modified after the paper has been completed. However, we highly discourage our customers from misusing this policy.

Timely delivery

At TheStudyPool.com, all papers, regardless of how URGENT, are completed within the deadline indicated by the client. At TheCoursehero.com, we encourage our writers to submit work ahead of the deadline indicated to give ample time for the client to go through the work.

Plagiarism-Free Papers

All our papers are completed from scratch with strict adherence to the instructions provided by the clients. Customers can request for a plagiarism report at their own convenience.

24/7 Customer Support

You can simply get in touch with our customer support team via the chat window on the Bottom right corner or via the email: support@thestudypool.com.

Try it now!

Grab A 14% Discount on This Paper

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Are you struggling with your academic work? Well, we are here to ensure that we complete the most daunting assignments/homework for you at affordable fee.

Essays

Custom Essay Writing Service

You can simply select the type of paper, which could be a research paper, essay, Coursework, Case study, among others. We understand that assignments and homework form an essential part of the learning curriculum. However, you might be held up at work, in family or other personal matters to an extent that you cannot complete a certain task yet it is mandatory for you to graduate. Simply click the place order button to get started.

Admissions

Admission Essay

Regardless of the institution you are joining, your admission essay form a major component. The admission essay is the initial thing that the admission board look at. Therefore, it is important to make a good first impression as this really counts. We are here to ensure that we generate an admission essay that will get you accepted and one which is completed on time.

Reviews

Editing and Paraphrasing

At TheStudyPool.com, we understand that you might have completed your homework paper, but at the same time, you might be looking for professional writers to polish your work in terms of grammar, paraphrasing and plagiarism.

Reviews

Urgent Papers

Are you experiencing the last minute rush? At TheStudyPool.com, we can complete a task in less than 4 hours. Simply click the place order button and enter the order instructions.

AllEscortAllEscort