Amerbran Company (a)

Topics: Generally Accepted Accounting Principles, Balance sheet, Asset Pages: 3 (597 words) Published: September 10, 2010
Case 11-2
Amerbran Company (A)
Amerbran Company was a diversified company that sold various consumer products, including food, tobacco, distilled products, and personal care products and financial services. Financial statements for the company are shown in Exhibit 1.

EXHIBIT 1

AMERBRAN COMPANY
Balance Sheets As of December 31
(In thousands)

20x120x0

Assets $ 28,912$ 23,952
Accounts receivable 756,152 687,325
Inventories 1,244,912 1,225,402
Prepaid expenses 76,140 77,167
Total current assets 2,106,116 2,013,846
Investments 1,116,534 1,058,637 Property, plant, and equipment, at cost 1,566,268 1,366,719 Less accumulated depreciation 723,442 645,734 Goodwill 645,210 577,606

Other assets 115,826 62,374
Total assets$4,826,512$4,433,448

Liabilities and shareholder’s Equity
Accounts payable$ 271,452$ 238,377
Short-term debt 430,776 351,112 Accrued expenses payable 922,990 728,262

Total current liabilities 1,625,218 1,317,751
Long term liabilities 880,674 932,828
Total liabilities 2,505,892 2,250,579 Convertible preferred stock 33,828 42,611 Common stock at par 322,834 161,417 Additional paid in capital 53,641 57,072 Treasury stock at cost...
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