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These items are taken from the financial statements of Swifty Corp. at December 31, 2018. Buildings $179,860 Accounts receivable 21,420 Prepaid insurance 7,956 Cash 20,128 Equipment 140,080 Land 104,040 Office expense 986 Income tax expense 340 Depreciation expense 9,010 Interest expense 4,420 Common shares 105,400 Retained earnings (January 1, 2018) 68,000 Accumulated depreciation-building 77,520 Accounts payable 14,280 Income taxes payable 1,870 Bank loan payable (due July 1, 2020) 159,120 Accumulated depreciation-equipment 31,824 Interest payable 6,120 Sales 24,106 (a) Calculate the...
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These items are taken from the financial statements of Novak Corp. at December 31, 2018 Buildings Accounts receivable Prepaid insurance Cash Equipment $148,120 17,640 6,552 16,576 115,360 85,680 812 280 7.420 3,640 86,800 Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings Uanuary 1,2018) 56,000 Accumulated depreciation-building Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) 131040 63840 11,760 Income taxes payable Bank loan payable (due July 1,2020) 131040 Accumulated depreciation-equipment 26,208 Interest...
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These items are taken from the financial statements of Concord Corp. at December 31, 2018. $100,510 11,970 4,446 11,248 78,280 58,140 551 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings (January 1, 2018) Accumulated depreciation-building Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) Accumulated depreciation-equipment Interest payable Sales 190 5,035 2,470 58,900 38,000 43,320 7,980 1,045 88,920 17,784 3,420 13,471 Calculate the net...
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These items are taken from the financial statements of Pina Colada Corp. at December 31, 2018. Buildings $153,410 Accounts receivable 18,270 Prepaid insurance 6,786 Cash 17,168 Equipment 119,480 Land 88,740 Office expense 841 Income tax expense 290 Depreciation expense 7,685 Interest expense 3,770 Common shares 89,900 Retained earnings (January 1, 2018) 58,000 66,120 Accumulated depreciation-building Accounts payable 12,180 Income taxes payable 1,595 Bank loan payable (due July 1, 2020) 135,720 Accumulated depreciation-equipment 27,144 Interest payable 5,220 Sales 20,561 Calculate the...
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These items are taken from the financial statements of Pharoah Company at December 31, 2022. Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2022) Accumulated depreciation-buildings Accounts payable Notes payable Accumulated depreciation equipment Interest payable Service revenue $95,220 11,340 2,880 10,656 74,160 55,080 702 4,770 2,340 54,000 36,000 41,040 8,550 84,240 16,848 3,240 13,230 PHAROAH COMPANY Balance Sheet December 31, 2022 Assets Current Assets Current Assets Cash 10,656...
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These items are taken from the financial statements of Coronado Industries at December 31, 2017. Buildings $105,800 Accounts receivable 12,600 Prepaid insurance 3,200 Cash 11,840 Equipment 82,400 Land 61,200 Insurance expense 780 Depreciation expense 5,300 Interest expense Common stock 2,600 60,000 40,000 Retained earnings (January 1, 2017) Accumulated depreciation--buildings 45,600 Accounts payable 9,500 Notes payable Accumulated depreciation-equipment 93,600 18,720 3,600 14,700 Interest payable Service revenue For the Year Ended December 31, 2017 : Assets Current Assets Cash 11840 Accounts Receivable...
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These items are taken from the financial statements of Wildhorse Co. at December 31, 2022. Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2022) Accumulated depreciation--buildings Accounts payable Notes payable Accumulated depreciation-equipment Interest payable Service revenue $129,076 15,372 3,904 14,445 100,528 74,664 952 6,466 3,172 73,200 48,801 55,632 11,590 114,192 22,838 4,392 17,934 Prepare a classified balance sheet. Assume that $16,592 of the note payable will be paid...
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These items are taken from the financial statements of Ivanhoe Company at December 31, 2022 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2022) Accumulated depreciation-buildings Accounts payable Notes payable Accumulated depreciation equipment Interest payable Service revenue $90,988 10,836 2,752 10,182 70,864 52,632 671 4,558 2236 51,600 34,400 39,216 8.170 80,496 16,099 3,096 12642 Prepare a classified balance sheet. Assume that $11.696 of the note payable will be...
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These items are taken from the financial statements of Carla
Vista Ltd. at December 31, 2018: Accounts payable $22,050 Interest
expense $5,300 Accounts receivable 18,780 Interest payable 3,800
Accumulated depreciation—buildings 53,600 Land 185,970 Accumulated
depreciation—equipment 20,470 Long-term investments 30,970 Service
revenue 187,040 Mortgage payable 102,000 Buildings 137,800
Operating expenses 159,680 Cash 28,040 Prepaid insurance 1,400
Common shares 138,000 Retained earnings, January 1 118,520
Equipment 70,100 Supplies 1,840 Income tax expense 5,600
at $32,500 of the mortgage payable will be paid...
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Question 2 These items are taken from the financial statements of Bramble Corp. at December 31, 2017 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2017) Accumulated depreciation-buildings Accounts payable $110,032 13,104 3,328 12,314 85,696 63,648 811 5,512 2,704 62,400 41,600 47,424 9,880 97,344 Accumulated depreciation-equipment 19,469 3,744 15,288 Notes payable Interest payable Service revenue Prepare a classified balance sheet. Assume that $ 14,144 of the note payable...
These items are taken from the financial statements of Swifty Corp. at December 31, 2018. Buildings $179,860 Accounts receivable 21,420 Prepaid insurance 7,956 Cash 20,128 Equipment 140,080 Land 104,040 Office expense 986 Income tax expense 340 Depreciation expense 9,010 Interest expense 4,420 Common shares 105,400 Retained earnings (January 1, 2018) 68,000 Accumulated depreciation-building 77,520 Accounts payable 14,280 Income taxes payable 1,870 Bank loan payable (due July 1, 2020) 159,120 Accumulated depreciation-equipment 31,824 Interest payable 6,120 Sales 24,106 (a) Calculate the...
These items are taken from the financial statements of Novak Corp. at December 31, 2018 Buildings Accounts receivable Prepaid insurance Cash Equipment $148,120 17,640 6,552 16,576 115,360 85,680 812 280 7.420 3,640 86,800 Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings Uanuary 1,2018) 56,000 Accumulated depreciation-building Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) 131040 63840 11,760 Income taxes payable Bank loan payable (due July 1,2020) 131040 Accumulated depreciation-equipment 26,208 Interest...
These items are taken from the financial statements of Concord Corp. at December 31, 2018. $100,510 11,970 4,446 11,248 78,280 58,140 551 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings (January 1, 2018) Accumulated depreciation-building Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) Accumulated depreciation-equipment Interest payable Sales 190 5,035 2,470 58,900 38,000 43,320 7,980 1,045 88,920 17,784 3,420 13,471 Calculate the net...
These items are taken from the financial statements of Pina Colada Corp. at December 31, 2018. Buildings $153,410 Accounts receivable 18,270 Prepaid insurance 6,786 Cash 17,168 Equipment 119,480 Land 88,740 Office expense 841 Income tax expense 290 Depreciation expense 7,685 Interest expense 3,770 Common shares 89,900 Retained earnings (January 1, 2018) 58,000 66,120 Accumulated depreciation-building Accounts payable 12,180 Income taxes payable 1,595 Bank loan payable (due July 1, 2020) 135,720 Accumulated depreciation-equipment 27,144 Interest payable 5,220 Sales 20,561 Calculate the...
These items are taken from the financial statements of Pharoah Company at December 31, 2022. Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2022) Accumulated depreciation-buildings Accounts payable Notes payable Accumulated depreciation equipment Interest payable Service revenue $95,220 11,340 2,880 10,656 74,160 55,080 702 4,770 2,340 54,000 36,000 41,040 8,550 84,240 16,848 3,240 13,230 PHAROAH COMPANY Balance Sheet December 31, 2022 Assets Current Assets Current Assets Cash 10,656...
These items are taken from the financial statements of Coronado Industries at December 31, 2017. Buildings $105,800 Accounts receivable 12,600 Prepaid insurance 3,200 Cash 11,840 Equipment 82,400 Land 61,200 Insurance expense 780 Depreciation expense 5,300 Interest expense Common stock 2,600 60,000 40,000 Retained earnings (January 1, 2017) Accumulated depreciation--buildings 45,600 Accounts payable 9,500 Notes payable Accumulated depreciation-equipment 93,600 18,720 3,600 14,700 Interest payable Service revenue For the Year Ended December 31, 2017 : Assets Current Assets Cash 11840 Accounts Receivable...
These items are taken from the financial statements of Wildhorse Co. at December 31, 2022. Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2022) Accumulated depreciation--buildings Accounts payable Notes payable Accumulated depreciation-equipment Interest payable Service revenue $129,076 15,372 3,904 14,445 100,528 74,664 952 6,466 3,172 73,200 48,801 55,632 11,590 114,192 22,838 4,392 17,934 Prepare a classified balance sheet. Assume that $16,592 of the note payable will be paid...
These items are taken from the financial statements of Ivanhoe Company at December 31, 2022 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2022) Accumulated depreciation-buildings Accounts payable Notes payable Accumulated depreciation equipment Interest payable Service revenue $90,988 10,836 2,752 10,182 70,864 52,632 671 4,558 2236 51,600 34,400 39,216 8.170 80,496 16,099 3,096 12642 Prepare a classified balance sheet. Assume that $11.696 of the note payable will be...
These items are taken from the financial statements of Carla
Vista Ltd. at December 31, 2018: Accounts payable $22,050 Interest
expense $5,300 Accounts receivable 18,780 Interest payable 3,800
Accumulated depreciation—buildings 53,600 Land 185,970 Accumulated
depreciation—equipment 20,470 Long-term investments 30,970 Service
revenue 187,040 Mortgage payable 102,000 Buildings 137,800
Operating expenses 159,680 Cash 28,040 Prepaid insurance 1,400
Common shares 138,000 Retained earnings, January 1 118,520
Equipment 70,100 Supplies 1,840 Income tax expense 5,600
at $32,500 of the mortgage payable will be paid...
Question 2 These items are taken from the financial statements of Bramble Corp. at December 31, 2017 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2017) Accumulated depreciation-buildings Accounts payable $110,032 13,104 3,328 12,314 85,696 63,648 811 5,512 2,704 62,400 41,600 47,424 9,880 97,344 Accumulated depreciation-equipment 19,469 3,744 15,288 Notes payable Interest payable Service revenue Prepare a classified balance sheet. Assume that $ 14,144 of the note payable...