Prepare a 2018 balance sheet for Rogers Corp. based on the following information: Cash = $250,000; Patents and copyrights = $720,000; Accounts payable = $530,000; Accounts receivable = $129,000; Tangible net fixed assets = $3,400,000; Inventory = $345,000; Notes payable = $190,000; Accumulated retained earnings = $1,255,000; Long-term debt = $1,830,000. What is the common stock account balance for the company?

Common stock balance= $1,039,000

Explanation:

A balance sheet can be described as a financial statement that presents the assets, liabilities and shareholders' equity of a company.

Common stock refers to the security such shares that represents ownership in a company.

In order to determine the common stock account balance for Rogers Corp., its balance sheet is first prepared as follows:

Rogers Corp.

Balance Sheet

For the year 2018

Particulars                                              $                         $            

Intangible Assets:

Patents and copyrights                                                720,000

Tangible Assets:

Net fixed assets                                                         3,400,000

Current Assets:

Cash                                                   250,000

Accounts receivable                          129,000

Inventory                                            345,000  

Total Current Assets                         724,000

Current Liabilities:

Accounts payable                            (530,000)

Notes payable                                  (190,000)  

Working Capital                                                                4,000

Long-term Liabilities:

Long-term debt                                                          (1,830,000)

Net Total Assets                                                         2,294,000  

Financed by:

Common stock (w.1)                                                   1,039,000

Accumulated retained earnings                                1,255,000   

Owners' Equity                                                         2,294,000  

Workings:

w.1: Common stock balance = Net total assets - Accumulated retained earnings = $2,294,000 - $1,255,000 = $1,039,000

ans.

heterothermic organisms include those organisms that can switch between homeothermic (having body temperature higher than environment) and poikilothermic (having variation in internal body temperature) strategies.

some migratory birds show heterothermy as they decrease their metabolic rate during cold nights to keep their body temperature low. drop in metabolic rate allows increase in production efficiency of birds that reduces the internal body temperature to make it equal to external cold temperature during cold nights.

thus, the correct answer is 'birds allow their temperature drop in order to increase their production efficiency.'