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Presented below are the financial statements of Monty Company. Monty Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 84,000 Accounts receivable 48,000 Inventory 67,200 Property, plant, and equipment 144,000 Accumulated depreciation (76,800 ) Total $266,400 2021 $ 48,000 33,600 48,000 187,200 (57,600 ) $259,200 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 45,600 16,800 40,800 43,200 120,000 $266,400 $ 36,000 19,200 79,200 33,600 91,200 $259,200 $580,800 420,000 160,800 Monty...
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Presented below are the financial statements of Blossom Company. Blossom Company Comparative Balance Sheets December 31 Assets 2016 Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total 2017 76,650 43,800 43,800 30,660 61,320 43,a 131,400 170,820 (70,080) (52,560) 243,090 $236,520 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total 41,610 32,850 15,330 17,520 37,230 72,270 39420 30.660 83,220 $243,090 $236,520 109,500 Company Income Statement For the Year Ended 31, 2017 529,980...
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Presented below are the financial statements of Coronado Industries. Coronado Industries Comparative Balance Sheets December 31 Assets 2022 $ 49,000 2021 $28,000 Cash Accounts receivable Inventory Property, plant, and equipment 28,000 39,200 84,000 (44,800) $155,400 19,600 28,000 109,200 (33,600) $151,200 Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable $ 26,600 9,800 23,800 25,200 Bonds payable $ 21,000 11,200 46,200 19,600 53,200 $151,200 Common stock Retained earnings 70,000 Total $155,400 Coronado Industries Income Statement For the Year...
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Presented below are the financial statements of Sheridan Company. Sheridan Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 52,500 $30,000 21,000 Accounts receivable 30,000 Inventory 42,000 30,000 Property, plant, and equipment Accumulated depreciation 90,000 (48,000) $166,500 117,000 (36,000) $162,000 Total Liabilities and Stockholders' Equity Accounts payable $ 28,500 Income taxes payable 10,500 $ 22,500 12,000 49,500 21,000 Bonds payable 25,500 Common stock 27,000 Retained earnings 75,000 57,000 Total $166,500 $162,000 Sheridan Company Income Statement For the Year...
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Blossom Company reported the following information for 2022. Blossom Company Comparative Balance Sheets December 31 Change Increase/Decrease Assets 2022 2021 Cash $165,200 173,600 123,200 $100,800 61,600 $64,400 Increase 112,000 Increase Accounts receivable Inventory -0- 123,200 Increase Prepaid expenses 16,800 11,200 5,600 Increase Land 154,000 196,000 42,000 Decrease Buildings 560,000 560,000 -0- Accumulated depreciation-buildings (58,800) (39,200) 19,600 Increase Equipment 512,400 (78,400) 190,400 (28,000) 322,000 Increase 50,400 Increase Accumulated depreciation-equipment Totals $1,568,000 $1,052,800 Liabilities and Stockholders' Equity Accounts payable $120,400 $112,000 $8,400...
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Shown below are comparative balance sheets for Blossom
Company.
Blossom Company
Comparative Balance Sheets
December 31
Assets
2022
2021
Cash
$ 102,000
$ 33,000
Accounts receivable
132,000
114,000
Inventory
250,500
283,500
Land
120,000
150,000
Equipment
390,000
300,000
Accumulated depreciation—equipment
(99,000
)
(48,000
)
Total
$895,500
$832,500
Liabilities and Stockholders’ Equity
Accounts payable
$ 58,500
$ 64,500
Bonds payable
225,000
300,000
Common stock ($1 par)
324,000
261,000
Retained earnings
288,000
207,000
Total
$895,500
$832,500
Additional information:
1.
Net income for 2022...
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Coronado Industries reported the following information for
2022.
Coronado Industries
Comparative Balance Sheets
December 31
Assets
2022
2021
Change
Increase/Decrease
Cash
$82,600
$50,400
$32,200
Increase
Accounts receivable
86,800
30,800
56,000
Increase
Inventory
61,600
–0–
61,600
Increase
Prepaid expenses
8,400
5,600
2,800
Increase
Land
77,000
98,000
21,000
Decrease
Buildings
280,000
280,000
–0–
Accumulated depreciation—buildings
(29,400
)
(19,600
)
9,800
Increase
Equipment
256,200
95,200
161,000
Increase
Accumulated depreciation—equipment
(39,200
)
(14,000
)
25,200
Increase
Totals
$784,000
$526,400
Liabilities and Stockholders’
Equity
Accounts...
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Presented below are the financial statements of Riverbed Corp. Riverbed Corp Comparative Balance Sheets December 31 Assets 2017 84,000 48,000 48,000 33,600 67,200 48,000 144,000 187,200 (76,800) (57,600) 2016 Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total $266,400 259,200 Liabilities and Stockholders'Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $45,600 36,000 16,80019,200 40,800 79.200 43,200 33,600 91,200 $266,400 259,200 120,000 Income Statement For the Year Ended December 31,2017 Cost of goods sold...
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Problem 12-08A Presented below are the financial statements of Flounder Company. Flounder Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 77,000 $ 44,000 Accounts receivable 44,000 30,800 Inventory 61,600 44,000 Property, plant, and equipment 132,000 171,600 Accumulated depreciation (70,400) (52,800) Total $244,200 $237,600 Liabilities and Stockholders' Equity Accounts payable $ 33,000 $ 41,800 Income taxes payable 15,400 17,600 Bonds payable 37,400 72,600 Common stock 39,600 30,800 Retained earnings 110,000 83,600 Total $244,200 $237,600 Flounder Company Income Statement...
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Condensed financial data of Blossom Company follow Blossom Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 2017 2016 $116,160 91,200 246,840 62,400 261,600 582,000 $193,920 210,720 270,000 68,160 331,200 684,000 (120,000 124,800) $1,638,000 $1,235,400 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $ 161,520 50,400 350,400 420,000 253,080 $1,638,000 $1,235,400 $244,800 39,600 264,000 528,000 561,600 Blossom Company Income Statement Data...
Presented below are the financial statements of Monty Company. Monty Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 84,000 Accounts receivable 48,000 Inventory 67,200 Property, plant, and equipment 144,000 Accumulated depreciation (76,800 ) Total $266,400 2021 $ 48,000 33,600 48,000 187,200 (57,600 ) $259,200 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 45,600 16,800 40,800 43,200 120,000 $266,400 $ 36,000 19,200 79,200 33,600 91,200 $259,200 $580,800 420,000 160,800 Monty...
Presented below are the financial statements of Blossom Company. Blossom Company Comparative Balance Sheets December 31 Assets 2016 Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total 2017 76,650 43,800 43,800 30,660 61,320 43,a 131,400 170,820 (70,080) (52,560) 243,090 $236,520 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total 41,610 32,850 15,330 17,520 37,230 72,270 39420 30.660 83,220 $243,090 $236,520 109,500 Company Income Statement For the Year Ended 31, 2017 529,980...
Presented below are the financial statements of Coronado Industries. Coronado Industries Comparative Balance Sheets December 31 Assets 2022 $ 49,000 2021 $28,000 Cash Accounts receivable Inventory Property, plant, and equipment 28,000 39,200 84,000 (44,800) $155,400 19,600 28,000 109,200 (33,600) $151,200 Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable $ 26,600 9,800 23,800 25,200 Bonds payable $ 21,000 11,200 46,200 19,600 53,200 $151,200 Common stock Retained earnings 70,000 Total $155,400 Coronado Industries Income Statement For the Year...
Presented below are the financial statements of Sheridan Company. Sheridan Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 52,500 $30,000 21,000 Accounts receivable 30,000 Inventory 42,000 30,000 Property, plant, and equipment Accumulated depreciation 90,000 (48,000) $166,500 117,000 (36,000) $162,000 Total Liabilities and Stockholders' Equity Accounts payable $ 28,500 Income taxes payable 10,500 $ 22,500 12,000 49,500 21,000 Bonds payable 25,500 Common stock 27,000 Retained earnings 75,000 57,000 Total $166,500 $162,000 Sheridan Company Income Statement For the Year...
Blossom Company reported the following information for 2022. Blossom Company Comparative Balance Sheets December 31 Change Increase/Decrease Assets 2022 2021 Cash $165,200 173,600 123,200 $100,800 61,600 $64,400 Increase 112,000 Increase Accounts receivable Inventory -0- 123,200 Increase Prepaid expenses 16,800 11,200 5,600 Increase Land 154,000 196,000 42,000 Decrease Buildings 560,000 560,000 -0- Accumulated depreciation-buildings (58,800) (39,200) 19,600 Increase Equipment 512,400 (78,400) 190,400 (28,000) 322,000 Increase 50,400 Increase Accumulated depreciation-equipment Totals $1,568,000 $1,052,800 Liabilities and Stockholders' Equity Accounts payable $120,400 $112,000 $8,400...
Presented below are the financial statements of Riverbed Corp. Riverbed Corp Comparative Balance Sheets December 31 Assets 2017 84,000 48,000 48,000 33,600 67,200 48,000 144,000 187,200 (76,800) (57,600) 2016 Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total $266,400 259,200 Liabilities and Stockholders'Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $45,600 36,000 16,80019,200 40,800 79.200 43,200 33,600 91,200 $266,400 259,200 120,000 Income Statement For the Year Ended December 31,2017 Cost of goods sold...
Problem 12-08A Presented below are the financial statements of Flounder Company. Flounder Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 77,000 $ 44,000 Accounts receivable 44,000 30,800 Inventory 61,600 44,000 Property, plant, and equipment 132,000 171,600 Accumulated depreciation (70,400) (52,800) Total $244,200 $237,600 Liabilities and Stockholders' Equity Accounts payable $ 33,000 $ 41,800 Income taxes payable 15,400 17,600 Bonds payable 37,400 72,600 Common stock 39,600 30,800 Retained earnings 110,000 83,600 Total $244,200 $237,600 Flounder Company Income Statement...
Condensed financial data of Blossom Company follow Blossom Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 2017 2016 $116,160 91,200 246,840 62,400 261,600 582,000 $193,920 210,720 270,000 68,160 331,200 684,000 (120,000 124,800) $1,638,000 $1,235,400 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $ 161,520 50,400 350,400 420,000 253,080 $1,638,000 $1,235,400 $244,800 39,600 264,000 528,000 561,600 Blossom Company Income Statement Data...