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From the following list of adjusted account balances, prepare the current asset section of Denfield's Hardscaping...
Below are the alphabetized list of adjusted account balances. Account Accounts receivable Accumulated depreciation, building Allowance...
Below are the alphabetized list of adjusted account balances. Account Accounts receivable Accumulated depreciation, building Allowance for doubtful accounts Bad debt expense Building Cash Merchandise inventory Notes receivable, due May 1, 2022 Notes receivable, due Nov. 30, 2020 Supplies Balance $117,000 31,100 2,490 2,240 402,000 20, 350 89,000 68,000 15,700 5,750 *Assume all balances are normal. Prepare the current asset section of LisTel's March 31, 2020, balance sheet. (List assets in the order of liquidity.)
QS 8-4 Balance sheet presentation L02 From the following alphabetized list of adjusted account balances, prepare...
QS 8-4 Balance sheet presentation L02 From the following alphabetized list of adjusted account balances, prepare the current asset section of Biotech's De Account Accounts receivable.. Allowance for doubtful accounts... Bad debt expense.. Cash..... Machinery.... Office supplies... Prepaid insurance... Debit Credit 29,000 1,300 800 10,000 52.000 400 950
a) Determine which accounts are current assets and prepare the current assets section of the balance...
a) Determine which accounts are current assets and prepare the
current assets section of the balance sheet as of December 31,
2021, with the accounts in order of decreasing liquidity.
b) for each account that is not classified as a current asset,
indicate how it would be classified on the balance sheet.
Question 5 The December 31, 2021, adjusted trial balance of Cullumber Company includes the following accounts: Accounts receivable $13,000 Patents $3,900 Prepaid insurance 1,700 Unearned revenue 3,000 Goodwill...
The following alphabetized list of selected adjusted account balances is from the records of Jasper Company...
The following alphabetized list of selected adjusted account balances is from the records of Jasper Company on December 31, 2020 ped Accounts Payable Accumulated Depreciation Equipment Estimated Warranty Liability GST Payable Mortgage Payable, $44,000 due Dec 31, 2021 Notes Payable, due April 1, 2021 Notes Payable, due April 1, 2024 PST Payable Warranty Expense $ 80,00 55.000 17,400 10,70 379, eee 16,700 12 8.580 20.20 renons Required: Prepare the current liability section of Jasper Company's 2020 balance sheet.
The adjusted trial balance of Lawrence Corporation showed the following selected account balances (all debits) at...
The adjusted trial balance of Lawrence Corporation showed the following selected account balances (all debits) at December 31, 2020, the end of the annual reporting period. 6.000 Cash..............................$ 44,000 Trademark ............. ......... $ 19,000 Patent, net ......................... 14,000 Prepaid insurance (two-thirds is long-term) ..... Accounts receivable (net of allowance) ... 90,000 Copyright, net...... 12,000 Prepaid rent expense (current). ..... 1,000 Equipment (net of accumulated depreciation) ... 300,000 Marketable equity securities (current) ..... 50,000 Notes receivable, trade (short-term). .......... 10,000 Franchise,...
Blue Corporation’s adjusted trial balance contained the following asset accounts at December 31, 2020: Cash $9,780,...
Blue Corporation’s adjusted trial balance contained the following asset accounts at December 31, 2020: Cash $9,780, Land $45,600, Patents $12,700, Accounts Receivable $93,280, Prepaid Insurance $5,800, Inventory $35,000, Allowance for Doubtful Accounts $4,640, and Equity Investments (to be sold in the next quarter) $12,010. Prepare the current assets section of the balance sheet.
Prepare the liability section of the balance sheet based on the following balances taken from the...
Prepare the liability section of the balance sheet based on the following balances taken from the adjusted trial balance of Sal Co. as of 12/31/18 Notes Payable, due 1/1/2020………………………………………………………….………$2,400,000 Bonds Payable, due 7/1/2019……………………………………………………….………...$3,000,000 Notes Payable, equal annual installations payable on 3/1 for each of the next 5 years……..$500,000 Accounts Payable………………………………………………………………………………...$245,000 Unearned Revenue…………………………………………………………………………..…..$120,000 Salary Payable……………………………………………………………………………………. $40,000 Asset Retirement Obligation,12/31/2026……………………………………………………$2,450,000 If current assets are $10,000,000 and total assets are $20,000,000, what is the (1) current ratio and (2) debt ratio
Instructions the account balances using the additional information. Prepare a corrected classified balance sheet as of...
Instructions the account balances using the additional information. Prepare a corrected classified balance sheet as of July 31, 2020, from the available information, adjusting ES7 (LO2) Excel (Current Assets Section of the Balance Sheet) Presented below are selected accounts of Yasunari Kawabata Company at December 31, 2020. $ 52,000 Cost of Goods Sold Inventory (finished goods) 90,000 Notes Receivable Uneared Service Revenue Equipment 253,000 Accounts Receivable Inventory (work in process) 34,000 Inventory (raw materials) Cash 37,000 Supplies Expense Debt Investments...
Prepare an adjusted trial balance from the following adjusted account balances (assume accounts have normal balances)....
Prepare an adjusted trial balance from the following adjusted account balances (assume accounts have normal balances). Accounts payable $ 6,600 Accounts receivable 12,750 Administrative expense 49,150 Cash 28,900 Common stock 15,000 Prepaid insurance 8,800 Service revenue 78,000
The following account balances appear in the 2018 adjusted trial balance of Blue Devils Corporation: Cash,...
The following account balances appear in the 2018 adjusted trial balance of Blue Devils Corporation: Cash, $5,000: Accounts Receivable, $9,000, Supples, $19,000;, Equipment, $120,000 Accumulated Depreciation, $45,000; Accounts Payable, $26,000: Salaries Payable, $16,000, Common Stock, $60.000; and Retained Eamings, Prepare the December 31, 2018, classified balance sheet including the corect balance for retained earnings. (Amounts to be deducted should be entered with minus sign.) BLUE DEVILS CORPORATION Balance Sheet December 31, 2018 Assets Liabilities Current liabilities: Current assets Total current...
Below are the alphabetized list of adjusted account balances. Account Accounts receivable Accumulated depreciation, building Allowance for doubtful accounts Bad debt expense Building Cash Merchandise inventory Notes receivable, due May 1, 2022 Notes receivable, due Nov. 30, 2020 Supplies Balance $117,000 31,100 2,490 2,240 402,000 20, 350 89,000 68,000 15,700 5,750 *Assume all balances are normal. Prepare the current asset section of LisTel's March 31, 2020, balance sheet. (List assets in the order of liquidity.)
QS 8-4 Balance sheet presentation L02 From the following alphabetized list of adjusted account balances, prepare the current asset section of Biotech's De Account Accounts receivable.. Allowance for doubtful accounts... Bad debt expense.. Cash..... Machinery.... Office supplies... Prepaid insurance... Debit Credit 29,000 1,300 800 10,000 52.000 400 950
a) Determine which accounts are current assets and prepare the
current assets section of the balance sheet as of December 31,
2021, with the accounts in order of decreasing liquidity.
b) for each account that is not classified as a current asset,
indicate how it would be classified on the balance sheet.
Question 5 The December 31, 2021, adjusted trial balance of Cullumber Company includes the following accounts: Accounts receivable $13,000 Patents $3,900 Prepaid insurance 1,700 Unearned revenue 3,000 Goodwill...
The following alphabetized list of selected adjusted account balances is from the records of Jasper Company on December 31, 2020 ped Accounts Payable Accumulated Depreciation Equipment Estimated Warranty Liability GST Payable Mortgage Payable, $44,000 due Dec 31, 2021 Notes Payable, due April 1, 2021 Notes Payable, due April 1, 2024 PST Payable Warranty Expense $ 80,00 55.000 17,400 10,70 379, eee 16,700 12 8.580 20.20 renons Required: Prepare the current liability section of Jasper Company's 2020 balance sheet.
The adjusted trial balance of Lawrence Corporation showed the following selected account balances (all debits) at December 31, 2020, the end of the annual reporting period. 6.000 Cash..............................$ 44,000 Trademark ............. ......... $ 19,000 Patent, net ......................... 14,000 Prepaid insurance (two-thirds is long-term) ..... Accounts receivable (net of allowance) ... 90,000 Copyright, net...... 12,000 Prepaid rent expense (current). ..... 1,000 Equipment (net of accumulated depreciation) ... 300,000 Marketable equity securities (current) ..... 50,000 Notes receivable, trade (short-term). .......... 10,000 Franchise,...
Instructions the account balances using the additional information. Prepare a corrected classified balance sheet as of July 31, 2020, from the available information, adjusting ES7 (LO2) Excel (Current Assets Section of the Balance Sheet) Presented below are selected accounts of Yasunari Kawabata Company at December 31, 2020. $ 52,000 Cost of Goods Sold Inventory (finished goods) 90,000 Notes Receivable Uneared Service Revenue Equipment 253,000 Accounts Receivable Inventory (work in process) 34,000 Inventory (raw materials) Cash 37,000 Supplies Expense Debt Investments...
Prepare an adjusted trial balance from the following adjusted account balances (assume accounts have normal balances). Accounts payable $ 6,600 Accounts receivable 12,750 Administrative expense 49,150 Cash 28,900 Common stock 15,000 Prepaid insurance 8,800 Service revenue 78,000
The following account balances appear in the 2018 adjusted trial balance of Blue Devils Corporation: Cash, $5,000: Accounts Receivable, $9,000, Supples, $19,000;, Equipment, $120,000 Accumulated Depreciation, $45,000; Accounts Payable, $26,000: Salaries Payable, $16,000, Common Stock, $60.000; and Retained Eamings, Prepare the December 31, 2018, classified balance sheet including the corect balance for retained earnings. (Amounts to be deducted should be entered with minus sign.) BLUE DEVILS CORPORATION Balance Sheet December 31, 2018 Assets Liabilities Current liabilities: Current assets Total current...
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