Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. gerrard construction co. is an excavation contract

Gerrard Construction Co. is an excavation contractor. The following summarized data (in thousands) are taken...

70.2K

Verified Solution

Question

Accounting

Gerrard Construction Co. is an excavation contractor. The following summarized data (in thousands) are taken from the December 31, 2016, financial statements:

image

image

For the Year Ended December 31, 2016: Net revenues Cost of services provided Depreclation expense Operating Income Interest expense Income tax expense Net Income At December 31, 2016: Assets Cash and short-term Investments Accounts recelvable, net Property. plant, and equlpment, net Total assets $ 64,400 22,800 13,000 $ 28,600 7,600 6,400 $14,600 $5,600 9,600 154,800 $ 180,000 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Notes payable (long term Pald-In capital Retalned earnings Total liabilities and stockholders' equity $3,000 3,200 95,000 20,000 58,800 $ 180,000 At December 31, 2015, total assets were $164,000 and total stockholders' equity was $65,200. There were no changes in notes payable or paid-in capital during 2016

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Suppose you roll, two 6-sided dice (refer back to the sample space in the sample space...

Statistics
Q

please do allis due in an hour, please all \"Survival of the fittest\" refers to a hierarchical...

Biology
Q

In your own words...discuss what are the strengths and weakness of transformational leadership theory and leader-member...

Psychology
Q

14.9.1 On February 1, 2018, Cromley Motor Products issued 6% bonds, dated February 1, with a face...

Accounting
Q

Two straight metallic strips each of thickness t and length L are nveted together Their...

Physics
Q

4 Suppose a company has fixed costs of 60 000 and variable cost per unit...

Calculus
Q

ACG 2021 -...

Accounting
Q

Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs....

Accounting
Q

Exercise 5-3 On September 1, Flint Office Supply had an inventory of 30 calculators at...

Accounting
Q

Part C Bottoms-Up Operating Budget (15 Marks) Answer the questions below regarding...

Accounting
Q

If the following 4 bonds were issued at par at the same time, mature at...

Finance
Q

Profitability ratios help in the analysis of the combined impact of liquidity ratios, asset management...

Finance