Shares outstanding is =Value of Common stock/Par value of common stock = (125000/0.05)
No of shares outstanding is 2,500,000
Calculate Shares Outstanding in Steps . COGS = $1,561,125 Note: Problems 1-4 relate to the trial...
COGS = $1,561,125
Prepare the Income Statement
Note: Problems 1-4 relate to the trial balance below. Marcell Sports Inc. Acct 311 - Quiz 3 of 6 - Trial Balance Credit Debit 140,000 475,000 $ 28,225 50,000 17,000 365,000 1,385,000 265,000 1,500,000 550,000 1,325,000 Cash Accounts Receivable Allowance for Doubtful Accounts Notes Receivable Supplies Inventory, 1/1/17 Equipment Accumulated Deperciation - Equipment Building Accumulated Deperciation - Building Land Accounts Payable Salaries and Wages Payable Notes Payable Mortgage Payable Common Stock, Par Value...
Calculate Cost of Good Solds in Steps
Note: Problems 1-4 relate to the trial balance below. Marcell Sports Inc. Acct 311 - Quiz 3 of 6 - Trial Balance Credit Debit 140,000 475,000 $ 28,225 50,000 17,000 365,000 1,385,000 265,000 1,500,000 550,000 1,325,000 Cash Accounts Receivable Allowance for Doubtful Accounts Notes Receivable Supplies Inventory, 1/1/17 Equipment Accumulated Deperciation - Equipment Building Accumulated Deperciation - Building Land Accounts Payable Salaries and Wages Payable Notes Payable Mortgage Payable Common Stock, Par Value...
Note: Problems 1-4 relate to the trial balance below. Note: Problems 5 and 6 are independent (use information provided for each of these problems only). Marcell Sports Inc. Acct 311 - Quiz 3 of 6 - Trial Balance Credit $ Debit 140,000 475,000 $ 28,225 50,000 17,000 365,000 1,385,000 265,000 1,500,000 550,000 1,325,000 Cash Accounts Receivable Allowance for Doubtful Accounts Notes Receivable Supplies Inventory, 1/1/17 Equipment Accumulated Deperciation - Equipment Building Accumulated Deperciation - Building Land Accounts Payable Salaries and...
Note: Problems 1-4 relate to the trial balance below. Marcell Sports Inc. Acct 311 - Quiz 3 of 6 - Trial Balance Credit Debit 140,000 475,000 $ 28,225 50,000 17,000 365,000 1,385,000 265,000 1,500,000 550,000 1,325,000 Cash Accounts Receivable Allowance for Doubtful Accounts Notes Receivable Supplies Inventory, 1/1/17 Equipment Accumulated Deperciation - Equipment Building Accumulated Deperciation - Building Land Accounts Payable Salaries and Wages Payable Notes Payable Mortgage Payable Common Stock, Par Value $0.05 APIC Retained Earnings Dividends Sales Revenue...
Note: Problems 1-4 relate to the trial balance below. Note: Problems 5 and 6 are independent (use information provided for each of these problems only). Marcel Sports Acct 311 - Quix 3 of 6 - Trial Balance s Det 140,000 475,000 s 28, 225 50,000 17.000 365,000 1,305,000 265,000 1,500,000 550,000 1,325,000 Accounts Receivable Allowance for Doubtful Accounts Notes Receivable Supplies Inventory 1/1/17 Equipment Accumulated Depercialion - Equipment Buildir Accumulated Depercialion - Building Land Accounts Payable Salaries and Wax Payable...
Part A -Using the trial balance provided below, prepare the following: 1. Multiple-Step Income Statement (4 points) 2. Retained Earnings Statement (1 points) 3. Classified Balance Sheet (10 points) Part A-Trial Balance S Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Trading Securities (cost $ 145,000) Equipment Accumulated Deperciation - Equipment Building Accumulated Deperciation - Building Land Franchises Patents Debt Investments (long-term) Equity Investments (long-term) Accounts Payable Salaries and Wages Payable Notes Payable (short-term) Dividends Payable Accrued Liabilities Notes Payable...
COGS
X1
Inventory
1/1/2018
950000
X2
Purchases
1060000
X3
Less:
Purchase Discounts
21000
Net
Purchase
1039000
X4:
Add:
Freight-In
19000
1058000
Inventory
available for sale
200800
Less:
Inventory 12/31/2018
864070
COGS
Total
1143930
Rapid Roller Inc. Adjusted Trial Balance December 31, 2018 Credit $ Debit 140,000 275,000 Part A - Calculate the following (show your work). $ 22,000 10,000 23,000 1. Calculate Net Sales 2. Calculate Net Accounts Receivable 3. Calculate Shares Outstanding 950,000 1,250,000 300,000 2,000,000 Part B -...
Note: Homework is graded on completion basis. Make sure you make a thorough effort on each question to ensure full points are earned. Note: Part 1 and Part 2 are not related problems. Part 1 - Balance Sheet Credit S Debit 197,000 435,000 $ 25,000 597,000 153,000 600,000 60,000 1,040,000 152.000 260,000 160,000 195,000 299,000 277.000 455,000 Cash Accounts Receivable Allowance for Doubtful Accounts Notes Receivable Supplies Inventory Debt Investments (trading) cost 145000 Equipment Accumulated Deperciation - Equipment Building Accumulated...
Part A - Using the trial balance provided below, prepare the following: 1. Multiple-Step Income Statement (4 points) 2. Retained Earnings Statement (1 points) 3. Classified Balance Sheet (10 points) Part B - Using the financial information provided (see page 2), prepare the Statement of Cash Flows (10 points). Note: Part B is UNRELATED to Part A. Part A - Trial Balance $ Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Trading Securities (cost $ 145,000 > Equipment Accumulated De...
Problem 4-5 (Part Level Submission) The trial balance follows for Culver Corporation at December 31, 20 CULVER CORPORATION Trial Balance Year Ended December 31, 2017 Debit Credit Purchase discounts Cash Accounts receivable Rent revenue Retained earnings Salaries and wages payable Sales revenue Notes receivable Accounts payable Accumulated depreciation-equipment Sales discounts Sales returns and allowances Notes payable Selling expenses Administrative expenses Common shares Income tax expense Dividends Allowance for doubtful accounts Supplies $15,500 $294,035 162,750 27,900 248,000 27,900 1,705,000 170,500 75,950...