Arctic Cat Fashions, Inc has the following trial balance amounts (in alphabetical order) at the...

Question:

Arctic Cat Fashions, Inc has the following trial balance amounts (in alphabetical order) at the end of last year.

(Thousands of Dollars)

Debit Credit
Accounts Payable 41,700
Accounts Receivable, Net 23,700
Accrued Expenses 44,400
Accumulated Depreciation, Equipment 184,900
Additional Paid-In Capital -- Common 7,300
Cash & Cash Equivalents 14,700
Common Stock, $1 Par 200
Deferred Income Taxes 17,700
Inventories 61,500
Other Long-Term Assets 1,600
Prepaid Expenses 4,000
Property, Plant & Equipment 224,100
Retained Earnings 184,000
Short-Term Investments 110,400
Treasury Stock -- Common (25,000 Shares) 4,800
Totals 462,500 462,500

Prepare the Stockholders' Equity section of the balance sheet for the Company.

Stockholders Equity:

Stockholders equity represents what the company is truly worth. Basically, it is all the assets a company owns less the liabilities. In this specific example, most of the stockholders equity accounts show a debit balance, meaning that they are negative in nature. The table in the answer section shows a net negative stockholders equity section when all the equity accounts are added together.

Answer and Explanation:

Artic Cat Fashions, Inc. - Stockholder's Equity
Common Stock, $1 Par $200
Additional Paid in Capital - Common Stock ($7,300)
Retained Earnings ($184,...

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Calculating Total Equity: Definition & Formula

from CSET Business Subtest II (176): Practice & Study Guide

Chapter 1 / Lesson 9
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