Raghubhai Use the following information for Ingersoll, Incorporated. Assume the tax rate is 24percent.SalesDepreciationCost of goods soldOther expensesInterestCashAccounts receivableShort-term notes payableLong-term debtNet fixed assetsAccounts payableInventoryDividendsCashAccounts receivableInventoryCurrent assetsAssetsNet fixed assetsTotal assetsPrepare a balance sheet for this company for 2020 and 2021. (Do not roundintermediate calculations.)2020 2021$17,573 $16,5361,7814,5791,0068556,2478,1601,290Liabilities & Equity1,8564,8278849866,8269,7871,26720,680 24,93651,152 54,6334,5765,00414,487 15,4081,550 1,738INGERSOLL, INCORPORATEDBalance Sheet as of December 312020$202186,654

The balance sheet is a summary of permanent accounts prepared at the end of the accounting period.…

Use the following information for Ingersoll, Incorporated. Assume the tax rate is 24 percent. Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 2020 2021 $17,573 $16,536 1,781 4,579 1,006 855 1,856 4,827 884 986 6,247 6,826 8,160 9,787 1,290 1,267 20,680 24,936 51,152 54,633 4,576 5,004 14,487 15,408 1,550 1,738 Prepare a balance sheet for this company for 2020 and 2021. (Do not round intermediate calculations.)

Use the following information for Ingersoll, Incorporated. Assume the tax rate is 24 percent. Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 2020 2021 $17,573 $16,536 1,781 4,579 1,006 855 1,856 4,827 884 986 6,247 6,826 8,160 9,787 1,290 1,267 20,680 24,936 51,152 54,633 4,576 5,004 14,487 15,408 1,550 1,738 Prepare a balance sheet for this company for 2020 and 2021. (Do not round intermediate calculations.)

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 32MCQ

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