Homework Answers
11) Allocation
| Assets | Appraised value | Allocated cost | |
| Land | 60000 | 310000*60000/300000 | 62000 |
| Building | 200000 | 310000*200000/300000 | 206667 |
| Equipment | 40000 | 310000*40000/300000 | 41333 |
| Total | 300000 | 310000 | |
12) When rent paid on March 2 for March 1 to march 31 then there is no prepaid rent.. Whole rent should be recorded under rent expense on March 31 $5000
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10,000. The appraised ment at $40,000. Show accounting records? Problem 11 William Gamett is purchasing the...
Accounting Principles I (ACC 111) Completing the Accounting Cycle (Chapter 4) Homework Problems Problem 4-A Classified...
Accounting Principles I (ACC 111) Completing the Accounting Cycle (Chapter 4) Homework Problems Problem 4-A Classified Balance Sheet 6,000 5,000 40,000 120,000 12,000 60,000 Accounts Payable Accounts Receivable Accumulated Depreciation - Building Building Cash Common Stock Land Mortgage Payable Prepaid Insurance Retained Earnings Salaries Payable Supplies Unearned Fees 64,000 2,000 15,000 3,000 1,000 2,000 Requirement: Using the above amounts prepare a classified balance sheet, for the Plum Company at December 31 of the current year, that includes the correct balance...
Problem 4-A Classified Balance Sheet Accounts Payable ✓ Accounts Receivable Accumulated Depreciation - Building Building ✓...
Problem 4-A Classified Balance Sheet Accounts Payable ✓ Accounts Receivable Accumulated Depreciation - Building Building ✓ Cash Common Stock Land Mortgage Payable Prepaid Insurance Retained Earnings Salaries Payable 6,000 5,000 40,000 120,000 12,000 60,000 ? 64,000 2,000 15,000 3,000 1,000 2,000 Supplies Unearned Fees Requirement: Using the above amounts prepare a classified balance sheet, for the Plum Company at December 31 of the current year, that includes the correct balance for Land. Assets Current assets: Liabilities Current liabilities: Total current...
is this right? Problem 4: The following accounts are taken from the records of Monsters Incorporated...
is this right?
Problem 4: The following accounts are taken from the records of Monsters Incorporated at January 31, 2019, its first months of operations. * Cash Accounts receivable unused supplies Land Building Equipment Bank loan Accounts payable $ $ $ $ $ $ $ $ 33,000 82,000 2,000 25,000 70,000 A 30,000 15,000 27,000 * * Page 2 w Common Stock Net income Dividends $ 159.00 $ 40,000 $ 1,000 Required: 1. Calculate the amount of total assets $242.000...
164 #10 Bond Homework Problem 1* A Challenging Cash Flow Problem- The following balances are from...
164 #10 Bond Homework Problem 1* A Challenging Cash Flow Problem- The following balances are from the beginning of the year for Sam's Town Compary as of December 31, 2018: Cash Accounts Receivable Allowance for Doubtful Accts Inventory Prepaid Rent Equipment Accumulated Depreciation Security Deposit Accounts Payable Wages Payable 120,000 40,000 2,000 60,000 (3 junkets) 3,000 200,000 60,000 10,000 5,000 5,000 8,000 100,000 Interest Payable Taxes Payable Payable k (51 cc)101,000 Common Stock ($1 each) Retained Earnings 60,000 For 2019:...
PLEASE COMPLETE THE FOLLOWING PROBLEM!! ASAP The following trial balance was taken from the records of...
PLEASE COMPLETE THE FOLLOWING PROBLEM!!
ASAP
The following trial balance was taken from the records of XYZ Company on December 31, 2020. Credit Debit $ 12,000 40,000 7,000 $ 1,800 54,000 4,800 125,000 Cash. Accounts Receivable. ........... Notes Receivable. Allowance for doubtful accounts.... Merchandise Inventory.................. Prepaid Insurance.............. Furniture and Equipment. Accumulated Depreciation-Furn. And Equip...... Accounts Payable.. Common Stock.............. Retained Earnings. Sales Cost of Goods Sold... Salaries Expense. Rent Expense..... Totals. 15,000 10,800 44,000 55,000 310,000 131,000 50,000 12.800 $ 436,600...
Create a classified balance sheet Problem 2 The following is a list of accounts in alphabetical...
Create a classified balance sheet
Problem 2 The following is a list of accounts in alphabetical order from the general ledger of Tara Corporation: Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation Equipment Allowance for Doubtful Accounts Bond Sinking Fund Bonds Payable, due in 2025 Building Cash Common Stock $1 par value Copyright Current Portion of Long-term Debt Deferred Rent Revenue Dividends Payable Equipment Goodwill Income Taxes Payable Inventory Land Land Held for a Future Plant Site Notes Payable, due...
#10 Bond Homework Due Problem 199 A Challenging Cash Flow Problem- The following balances are from...
#10 Bond Homework Due Problem 199 A Challenging Cash Flow
Problem- The following balances are from the beginning of the year
for Sam's Town Company as of December 31 2018: EIE Celsa v /p Jutle
tlExp 5000 19,.000 5000 120,000 40,000 2,000 60,000 (3 junkets)
3,000 200,000 60,000 10,000 92,000 5,000 5,000 8,000 100,000 (0,000
60,000 101,000 Cash Accounts Receivable Allowance for Doubtful
Accts Inventory Prepaid Rent Equipment Accumulated Depreciation
Security Deposit Accounts Payable Wages Payable Interest Payable
Taxes Payable...
Problem 3 J.V. Company prepared the following end-of period spreadsheet at December 31, 2019, the end of the fisc...
Problem 3 J.V. Company prepared the following end-of period spreadsheet at December 31, 2019, the end of the fiscal year G Hi B C D E Unadjusted Trial Balance Debit 40,000 Adjusting Entries Credit Adjusted Trial Balance 1 Debit Credit Credit Debit 2 ఉ0 3 Cash 35,000 4 Accounts Receivable 5 Prepaid Insurance 6 Supplies 7 Land 15,000 20,000 a 4,000 11,000 15,000- 80,000- 150.000 20,000 60,000 150,000 200,000 200,000 8 Building 9 Accum. Depr.-Building 10 Accounts Payable 11 Wages...
Question 17 (2 points) Use the following information to answer questions 17-20. MARCOTTE MASONARY LTD. Statement...
Question 17 (2 points) Use the following information to answer questions 17-20. MARCOTTE MASONARY LTD. Statement of Financial Position December 31, 2015 $ 50,000 5,000 75,000 110,000 90,000 Accounts payable Salaries payable Mortgage payable Total liabilities $ 40,000 5,000 190,000 235,000 $220,000 Cash Prepaid insurance Accounts receivable Inventory Land Building -Accumulated depreciation Trademark -Accumulated amortisation Total assets Common shares Retained earnings Total shareholders' equity 200,000 105,000 305,000 160,000 60,000 $ 75,000 25,000 50,000 $540,000 Total liabilities and shareholders' equity $540,000...
[The following information applies to the questions displayed below.) The accounting records of Nettle Distribution show...
[The following information applies to the questions displayed below.) The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2014 and 2015. December 31 Cash Accounts receivable Office supplies Office equipment Trucks Building Land Accounts payable Note payable 2014 2015 $ 44,178 $ 6,832 23,980 18,801 3,783 2.771 123,689 116.120 45,439 54,439 0151,475 0 37799 63,045 31.269 0 89.274 Late in December 2015, the business purchased a small office building and land for $189,274...
Accounting Principles I (ACC 111) Completing the Accounting Cycle (Chapter 4) Homework Problems Problem 4-A Classified Balance Sheet 6,000 5,000 40,000 120,000 12,000 60,000 Accounts Payable Accounts Receivable Accumulated Depreciation - Building Building Cash Common Stock Land Mortgage Payable Prepaid Insurance Retained Earnings Salaries Payable Supplies Unearned Fees 64,000 2,000 15,000 3,000 1,000 2,000 Requirement: Using the above amounts prepare a classified balance sheet, for the Plum Company at December 31 of the current year, that includes the correct balance...
Problem 4-A Classified Balance Sheet Accounts Payable ✓ Accounts Receivable Accumulated Depreciation - Building Building ✓ Cash Common Stock Land Mortgage Payable Prepaid Insurance Retained Earnings Salaries Payable 6,000 5,000 40,000 120,000 12,000 60,000 ? 64,000 2,000 15,000 3,000 1,000 2,000 Supplies Unearned Fees Requirement: Using the above amounts prepare a classified balance sheet, for the Plum Company at December 31 of the current year, that includes the correct balance for Land. Assets Current assets: Liabilities Current liabilities: Total current...
is this right?
Problem 4: The following accounts are taken from the records of Monsters Incorporated at January 31, 2019, its first months of operations. * Cash Accounts receivable unused supplies Land Building Equipment Bank loan Accounts payable $ $ $ $ $ $ $ $ 33,000 82,000 2,000 25,000 70,000 A 30,000 15,000 27,000 * * Page 2 w Common Stock Net income Dividends $ 159.00 $ 40,000 $ 1,000 Required: 1. Calculate the amount of total assets $242.000...
164 #10 Bond Homework Problem 1* A Challenging Cash Flow Problem- The following balances are from the beginning of the year for Sam's Town Compary as of December 31, 2018: Cash Accounts Receivable Allowance for Doubtful Accts Inventory Prepaid Rent Equipment Accumulated Depreciation Security Deposit Accounts Payable Wages Payable 120,000 40,000 2,000 60,000 (3 junkets) 3,000 200,000 60,000 10,000 5,000 5,000 8,000 100,000 Interest Payable Taxes Payable Payable k (51 cc)101,000 Common Stock ($1 each) Retained Earnings 60,000 For 2019:...
PLEASE COMPLETE THE FOLLOWING PROBLEM!!
ASAP
The following trial balance was taken from the records of XYZ Company on December 31, 2020. Credit Debit $ 12,000 40,000 7,000 $ 1,800 54,000 4,800 125,000 Cash. Accounts Receivable. ........... Notes Receivable. Allowance for doubtful accounts.... Merchandise Inventory.................. Prepaid Insurance.............. Furniture and Equipment. Accumulated Depreciation-Furn. And Equip...... Accounts Payable.. Common Stock.............. Retained Earnings. Sales Cost of Goods Sold... Salaries Expense. Rent Expense..... Totals. 15,000 10,800 44,000 55,000 310,000 131,000 50,000 12.800 $ 436,600...
Create a classified balance sheet
Problem 2 The following is a list of accounts in alphabetical order from the general ledger of Tara Corporation: Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation Equipment Allowance for Doubtful Accounts Bond Sinking Fund Bonds Payable, due in 2025 Building Cash Common Stock $1 par value Copyright Current Portion of Long-term Debt Deferred Rent Revenue Dividends Payable Equipment Goodwill Income Taxes Payable Inventory Land Land Held for a Future Plant Site Notes Payable, due...
#10 Bond Homework Due Problem 199 A Challenging Cash Flow
Problem- The following balances are from the beginning of the year
for Sam's Town Company as of December 31 2018: EIE Celsa v /p Jutle
tlExp 5000 19,.000 5000 120,000 40,000 2,000 60,000 (3 junkets)
3,000 200,000 60,000 10,000 92,000 5,000 5,000 8,000 100,000 (0,000
60,000 101,000 Cash Accounts Receivable Allowance for Doubtful
Accts Inventory Prepaid Rent Equipment Accumulated Depreciation
Security Deposit Accounts Payable Wages Payable Interest Payable
Taxes Payable...
Problem 3 J.V. Company prepared the following end-of period spreadsheet at December 31, 2019, the end of the fiscal year G Hi B C D E Unadjusted Trial Balance Debit 40,000 Adjusting Entries Credit Adjusted Trial Balance 1 Debit Credit Credit Debit 2 ఉ0 3 Cash 35,000 4 Accounts Receivable 5 Prepaid Insurance 6 Supplies 7 Land 15,000 20,000 a 4,000 11,000 15,000- 80,000- 150.000 20,000 60,000 150,000 200,000 200,000 8 Building 9 Accum. Depr.-Building 10 Accounts Payable 11 Wages...
Question 17 (2 points) Use the following information to answer questions 17-20. MARCOTTE MASONARY LTD. Statement of Financial Position December 31, 2015 $ 50,000 5,000 75,000 110,000 90,000 Accounts payable Salaries payable Mortgage payable Total liabilities $ 40,000 5,000 190,000 235,000 $220,000 Cash Prepaid insurance Accounts receivable Inventory Land Building -Accumulated depreciation Trademark -Accumulated amortisation Total assets Common shares Retained earnings Total shareholders' equity 200,000 105,000 305,000 160,000 60,000 $ 75,000 25,000 50,000 $540,000 Total liabilities and shareholders' equity $540,000...
[The following information applies to the questions displayed below.) The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2014 and 2015. December 31 Cash Accounts receivable Office supplies Office equipment Trucks Building Land Accounts payable Note payable 2014 2015 $ 44,178 $ 6,832 23,980 18,801 3,783 2.771 123,689 116.120 45,439 54,439 0151,475 0 37799 63,045 31.269 0 89.274 Late in December 2015, the business purchased a small office building and land for $189,274...
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