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Jobim Inc., had the following condensed balance sheet at the end of operations for 2013 CALCULATOR...
help completing balance sheet Jobim Inc., had the following condensed balance sheet at the end of...
help completing balance sheet
Jobim Inc., had the following condensed balance sheet at the end of operation Cash Current assets other than cash Investments Plant assets (net) Land ORIMINE BALANCE SHEET DECEMBER 2013 $8,010 Current liabilities 28,660 Long-term notes payable 19,840 Bonds payable 67,170 Capital stock 40,360 Retained earnings $164,040 $15,110 25,620 25,370 75,210 22,730 $164,040 During 2014, the following occurred. 1. A tract of land was purchased for $11,390. 2. Bonds payable in the amount of $20,150 were retired...
Sage Hill Inc had the following balance sheet at December 31, 2016. SAGE HILL INC. BALANCE...
Sage Hill Inc had the following balance sheet at December 31, 2016. SAGE HILL INC. BALANCE SHEET DECEMBER 31, 2016 Cash $9.300 Accounts payable Accounts receivable 12.300 Bonds payable Investments 13,500 Common stock Plant assets (net) 36,900 Retained earnings Land 16,500 $88,500 $15,200 9,500 36,300 27.500 $88.500 During 2017, the following occurred. 1. Net income was $26,600. 2. Depreciation expense was $8,400. 3. Sage Hill liquidated its investment portfolio (comprised of available-for-sale investments), realizing a $4,200 loss. 4. Sage Hill...
Bramble Inc. had the following balance sheet at December 31, 2016. BRAMBLE INC. BALANCE SHEET DECEMBER...
Bramble Inc. had the following balance sheet at December 31, 2016. BRAMBLE INC. BALANCE SHEET DECEMBER 31, 2016 Cash $22,220 Accounts payable $32,220 Accounts receivable 23,420 Notes payable (long-term) 43,220 Investments 34,220 Common stock 102,220 Plant assets (net) Retained earnings 81,000 25,420 42,220 $203,080 Land $203,080 During 2017, the following occurred. gain of $3,686 for the firm. The company classifies its investments as 1. Bramble Inc. sold part of its investment portfolio for $15,286. This transaction resulted in available-for-sale. A...
Kay Wing, Inc., prepared the following balance sheet at December 31, 2016. Balance Sheet as of...
Kay Wing, Inc., prepared the following balance sheet at December 31, 2016. Balance Sheet as of December 31, 2016 Cash Accounts receivable Inventory Long-term investments Land Plant and equipment (net) Total assets Accounts payable Taxes payable Bonds payable Capital stock Retained earnings Total liabilities and stockholders' equity $ 65,000 37,000 70,000 20,000 39,000 109,000 $340,000 $ 33,000 4,000 80,000 90,000 133,000 $340,000 The following occurred during 2017 1. $15,000 in cash and a $35,000 note payable were exchanged for land...
MICHAELS COMPANY COMPARATIVE BALANCE SHEETS AS OF DECEMBER 31, 2014 AND 2013 2014 2013 Cash $10,860...
MICHAELS COMPANY COMPARATIVE BALANCE SHEETS AS OF DECEMBER 31, 2014 AND 2013 2014 2013 Cash $10,860 $3,180 13,420 Accounts receivable 21,480 Short-term investments 21,350 31,200 Inventory 41,410 36,550 Prepaid rent Prepaid insurance Supplies 2,640 13,420 2,810 940 1,360 770 Land 124,560 172,800 Buildings Accumulated depreciation-buildings 350,170 350,170 (105,080) (88,410) Equipment 524,950 400,440 Accumulated depreciation-equipment (130,130) (113,160) 51,700 Patents 45,090 Total assets $911,470 $873,020 Accounts payable Income taxes payable Salaries and wages payable Short-term notes payable Long-term notes payable Bonds payable...
Here are comparative balance sheets for Velo Company. Velo Company Comparative Balance Sheets December 31 Assets...
Here are comparative balance sheets for Velo Company.
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends...
Velo Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $72,800 $33,200 Accounts receivable 86,500...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
Kay Wing, Inc., prepared the following balance sheet at December 31, 2016. Balance Sheet as of...
Kay Wing, Inc., prepared the following balance sheet at December 31, 2016. Balance Sheet as of December 31, 2016 Cash Accounts receivable Inventory Long-term investments Land Plant and equipment (net) Total assets Accounts payable Taxes payable Bonds payable Capital stock Retained earnings Total liabilities and stockholders' equity $ 65,000 37,000 70,000 20,000 39,000 109,000 $340,000 $ 33,000 4,000 80,000 90,000 133,000 $340,000 The following occurred during 2017 1. $15,000 in cash and a $35,000 note payable were exchanged for land...
Presented below is a condensed version of the comparative balance sheets for Bramble Corporation for the...
Presented below is a condensed version of the comparative balance sheets for Bramble Corporation for the last two years at December 31. 2017 2016 Cash $178,500 $49,000 Accounts receivable 115,900 76,800 Investments 68,900 98,300 Equipment Accumulated depreciation equipment Current liabilities 350,900 177,300 (95,100) (65,700) 135,300 91,900 142,500 62,500 333,700 173,700 Common stock Retained earnings Additional information: Investments were sold at a gain of $10,300; no investments were purchased; no equipment was sold; cash dividends paid were $43,500; and net income...
The following are Sullivan Corp.'s comparative balance sheet accounts at December 31, 2014 and 2013, with...
The following are Sullivan Corp.'s comparative balance sheet accounts at December 31, 2014 and 2013, with a column showing the increase (decrease) from 2013 to 2014. COMPARATIVE BALANCE SHEETS 2014 Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Investment in Myers Co. Loan receivable Total assets $814,580 1,127,500 1,850,200 3,306,400 (1,164,300 ) 309,670 249,820 $6,493,870 2013 $700,730 1,168,300 1,715,100 2,966,000 (1,039,400 ) 275,980 Increase (Decrease) $113,850 (40,800 ) 135,100 340,400 (124,900 ) 33,690 249,820 $707,160 $5,786,710 $954,400 49,750...
help completing balance sheet
Jobim Inc., had the following condensed balance sheet at the end of operation Cash Current assets other than cash Investments Plant assets (net) Land ORIMINE BALANCE SHEET DECEMBER 2013 $8,010 Current liabilities 28,660 Long-term notes payable 19,840 Bonds payable 67,170 Capital stock 40,360 Retained earnings $164,040 $15,110 25,620 25,370 75,210 22,730 $164,040 During 2014, the following occurred. 1. A tract of land was purchased for $11,390. 2. Bonds payable in the amount of $20,150 were retired...
Sage Hill Inc had the following balance sheet at December 31, 2016. SAGE HILL INC. BALANCE SHEET DECEMBER 31, 2016 Cash $9.300 Accounts payable Accounts receivable 12.300 Bonds payable Investments 13,500 Common stock Plant assets (net) 36,900 Retained earnings Land 16,500 $88,500 $15,200 9,500 36,300 27.500 $88.500 During 2017, the following occurred. 1. Net income was $26,600. 2. Depreciation expense was $8,400. 3. Sage Hill liquidated its investment portfolio (comprised of available-for-sale investments), realizing a $4,200 loss. 4. Sage Hill...
Bramble Inc. had the following balance sheet at December 31, 2016. BRAMBLE INC. BALANCE SHEET DECEMBER 31, 2016 Cash $22,220 Accounts payable $32,220 Accounts receivable 23,420 Notes payable (long-term) 43,220 Investments 34,220 Common stock 102,220 Plant assets (net) Retained earnings 81,000 25,420 42,220 $203,080 Land $203,080 During 2017, the following occurred. gain of $3,686 for the firm. The company classifies its investments as 1. Bramble Inc. sold part of its investment portfolio for $15,286. This transaction resulted in available-for-sale. A...
Kay Wing, Inc., prepared the following balance sheet at December 31, 2016. Balance Sheet as of December 31, 2016 Cash Accounts receivable Inventory Long-term investments Land Plant and equipment (net) Total assets Accounts payable Taxes payable Bonds payable Capital stock Retained earnings Total liabilities and stockholders' equity $ 65,000 37,000 70,000 20,000 39,000 109,000 $340,000 $ 33,000 4,000 80,000 90,000 133,000 $340,000 The following occurred during 2017 1. $15,000 in cash and a $35,000 note payable were exchanged for land...
MICHAELS COMPANY COMPARATIVE BALANCE SHEETS AS OF DECEMBER 31, 2014 AND 2013 2014 2013 Cash $10,860 $3,180 13,420 Accounts receivable 21,480 Short-term investments 21,350 31,200 Inventory 41,410 36,550 Prepaid rent Prepaid insurance Supplies 2,640 13,420 2,810 940 1,360 770 Land 124,560 172,800 Buildings Accumulated depreciation-buildings 350,170 350,170 (105,080) (88,410) Equipment 524,950 400,440 Accumulated depreciation-equipment (130,130) (113,160) 51,700 Patents 45,090 Total assets $911,470 $873,020 Accounts payable Income taxes payable Salaries and wages payable Short-term notes payable Long-term notes payable Bonds payable...
Here are comparative balance sheets for Velo Company.
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
Kay Wing, Inc., prepared the following balance sheet at December 31, 2016. Balance Sheet as of December 31, 2016 Cash Accounts receivable Inventory Long-term investments Land Plant and equipment (net) Total assets Accounts payable Taxes payable Bonds payable Capital stock Retained earnings Total liabilities and stockholders' equity $ 65,000 37,000 70,000 20,000 39,000 109,000 $340,000 $ 33,000 4,000 80,000 90,000 133,000 $340,000 The following occurred during 2017 1. $15,000 in cash and a $35,000 note payable were exchanged for land...
Presented below is a condensed version of the comparative balance sheets for Bramble Corporation for the last two years at December 31. 2017 2016 Cash $178,500 $49,000 Accounts receivable 115,900 76,800 Investments 68,900 98,300 Equipment Accumulated depreciation equipment Current liabilities 350,900 177,300 (95,100) (65,700) 135,300 91,900 142,500 62,500 333,700 173,700 Common stock Retained earnings Additional information: Investments were sold at a gain of $10,300; no investments were purchased; no equipment was sold; cash dividends paid were $43,500; and net income...
The following are Sullivan Corp.'s comparative balance sheet accounts at December 31, 2014 and 2013, with a column showing the increase (decrease) from 2013 to 2014. COMPARATIVE BALANCE SHEETS 2014 Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Investment in Myers Co. Loan receivable Total assets $814,580 1,127,500 1,850,200 3,306,400 (1,164,300 ) 309,670 249,820 $6,493,870 2013 $700,730 1,168,300 1,715,100 2,966,000 (1,039,400 ) 275,980 Increase (Decrease) $113,850 (40,800 ) 135,100 340,400 (124,900 ) 33,690 249,820 $707,160 $5,786,710 $954,400 49,750...
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