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| Halford Wholesalers | |||||
| Balance Sheet | |||||
| Dec-31 | |||||
| Assets | Liabilities and Stockholders Equity | ||||
| Current Assets: | Current Liabilities: | ||||
| Cash | $ 40,000 | Accounts Payable | $ 55,000 | ||
| Accounts Receivables | $ 61,000 | Salaries payable | $ 8,000 | ||
| Inventory | $ 1,42,000 | Total Current Liabilities | $ 63,000 | ||
| Office supplies | $ 2,000 | ||||
| Total Current Assets | $ 2,45,000 | Long - term Liabilities | |||
| Mortgage payable (long term) | $ 82,000 | ||||
| Noncurrent Assets: | Total Long - term Liabilities | $ 82,000 | |||
| Building and Equipment | $ 87,000 | ||||
| Land | $ 58,000 | Total Liabilities | $ 1,45,000 | ||
| Total Noncurrent Assets | $ 1,45,000 | ||||
| Stockholders Equity | |||||
| Common stock | $ 1,25,000 | ||||
| Retained earnings (Balancing figure) | $ 1,20,000 | ||||
| Total Stockholders Equity | $ 2,45,000 | ||||
| Total assets | $ 3,90,000 | Total Liabilities and Stockholders Equity | $ 3,90,000 | ||
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Accounts Payable $55,000 Inventory $142,000 Accounts Receivable 61,000 Land 58,000 Building and Equipment 87,000 Mortgage Payable...
From the following accounts, listed in alphabetical order, prepare a classified balance sheet for Halford Wholesalers...
From the following accounts, listed in alphabetical order, prepare a classified balance sheet for Halford Wholesalers as of December 31. All accounts have normal balances. Accounts Payable $55,000 Inventory $142,000 Accounts Receivable 61,000 Land 58,000 Building and Equipment 87,000 Mortgage Payable (long term) 82,000 Cash 40,000 Office Supplies 2,000 Common Stock 125,000 Retained Earnings Salaries Payable 8,000 Assets Current Assets: Accounts Receivable - X Cash Inventory Office Supplies Total Current Assets HALFORD WHOLESALERS Balance Sheet December 31 Liabilities & Stockholders'...
mba 5180 Preparing a Classified Balance Sheet From the following accounts, listed in alphabetical order, prepare...
mba
5180
Preparing a Classified Balance Sheet From the following accounts, listed in alphabetical order, prepare a classified balance sheet for Berkly Wholesalers as of December 31. $117,000 45,000 78,000 2,000 2 7,000 Accounts payable $43,000 Inventory Accounts receivable 40,000 Land Building 67,000 Mortgage payable (long term) Cash 26,000 Office supplies Common stock 111,000 Retained earnings Salaries payable Berkly Wholesalers Balance Sheet December 31, 2018 Assets Current Assets Cash 26,000 Accounts receivable 40,000 Inventory 117.000 Office supplies 2,000 Total Current...
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...
Cash Investments (short-term) Accounts receivable Inventory Notes receivable (long-term) Equipment Factory building Intangibles $20,000 Accounts payable...
Cash Investments (short-term) Accounts receivable Inventory Notes receivable (long-term) Equipment Factory building Intangibles $20,000 Accounts payable 3,200 Accrued liabilities payable 3,600 Notes payable (current) 26,000 Notes payable (noncurrent) 2,600 Common stock 50,000 Additional paid-in capital 97,000 Retained earnings 4,400 $21,000 2,600 7,300 41,000 9,500 85,500 39,900 During the current year, the company had the following summarized activities: a. Purchased short-term investments for $8,400 cash. b. Lent $5,700 to a supplier who signed a two-year note. c. Purchased equipment that cost...
E4-01A.Stat eBook Print Question 1 Not complete Marked out of 29.00 P Flag question $117.000 Preparing...
E4-01A.Stat eBook Print Question 1 Not complete Marked out of 29.00 P Flag question $117.000 Preparing a Classified Balance Sheet From the following accounts, listed in alphabetical order, prepare classified balance sheet for Berkly Wholesalers as of December 31. Accounts payable 543.000 Inventory Accounts receivable 40,000 Land 45,000 Building 67,000 Mortgage payable long term 78,000 Cash 26,000 ke Supplies 2.000 Common stock 111,000 Retained earnings 2 Salaries payable 7.000 Note: Balance sheet accounts are disclosed in a certain order Refer...
eBook ер Question 2 Not complete Marked out of 29.00 P Flag question Preparing a Classified...
eBook ер Question 2 Not complete Marked out of 29.00 P Flag question Preparing a Classified Balance Sheet From the following accounts, listed in alphabetical order, prepare a classified balance sheet for Blaford Wholesalers as of December 31. Accounts payable 352.000 Inventory 5142,000 Accounts receivable 54,000 Land 58,000 Building 91.000 Mortgage payable long term 100.000 Cash 40.000 Office supplies 2.000 Common stock 136,000 Retained earnings 2 Salaries payable 8.000 Note: Balance sheet accounts are disclosed in a certain order, Refer...
Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated...
Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings $6,530 1,455 48,740 24,320 Inventory Land 240,000 Automobiles 81,525 11,000 38,190 121,600 161,000 190,950 158,000 13,000 Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash Long-term investments Notes payable, due June 30, 2018 Office supplies Paid-in capital in excess of par value 2,280 47,000 Patents 43,000 Prepaid rent 1,460 Retained earnings 295,445 Salaries and wages payable 3,945...
Presented below is a list of accounts in alphabetical order. Accounts Receivable Inventory-Ending Accumulated Depreciation-Buildings Land...
Presented below is a list of accounts in alphabetical
order.
Accounts Receivable
Inventory-Ending
Accumulated
Depreciation-Buildings
Land
Accumulated
Depreciation-Equipment
Land for Future Plant
Site
Accumulated Other
Comprehensive Income
Loss from Flood
Advances to Employees
Noncontrolling Interest
Advertising Expense
Notes Payable (due next
year)
Allowance for Doubtful
Accounts
Paid-in Capital in Excess of
Par-Preferred Stock
Bond Sinking Fund
Patents
Bonds Payable
Payroll Taxes Payable
Buildings
Pension Liability
Cash (in bank)
Petty Cash
Cash (on hand)
Preferred Stock
Cash Surrender Value of Life...
E BUSINESSCOLIS Return to course Profitability, Liquidity, and Solvency Ratios Shannon Corporation gathered the following information...
E BUSINESSCOLIS Return to course Profitability, Liquidity, and Solvency Ratios Shannon Corporation gathered the following information from its financial statements: Net sales Net Income Current assets Current liabilities Total assets Total liabilities $180,000 25,200 40,500 27,000 130,000 97,500 Using the above data, calculate the following: (1) profit margin, (2) current ratio, (3) debt-to-total assets ratio, and (4) return on assets ratio. Note: Round answers to one decimal place. Profit margin Current ratio Debt-to-total assets ratio Return on assets ratio 0%...
Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated...
Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings $6,530 1,455 48,740 24,320 Inventory Land 240,000 Automobiles 81,525 11,000 38,190 121,600 161,000 190,950 158,000 13,000 Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash Long-term investments Notes payable, due June 30, 2018 Office supplies Paid-in capital in excess of par value 2,280 47,000 Patents 43,000 Prepaid rent 1,460 Retained earnings 295,445 Salaries and wages payable 3,945...
From the following accounts, listed in alphabetical order, prepare a classified balance sheet for Halford Wholesalers as of December 31. All accounts have normal balances. Accounts Payable $55,000 Inventory $142,000 Accounts Receivable 61,000 Land 58,000 Building and Equipment 87,000 Mortgage Payable (long term) 82,000 Cash 40,000 Office Supplies 2,000 Common Stock 125,000 Retained Earnings Salaries Payable 8,000 Assets Current Assets: Accounts Receivable - X Cash Inventory Office Supplies Total Current Assets HALFORD WHOLESALERS Balance Sheet December 31 Liabilities & Stockholders'...
mba
5180
Preparing a Classified Balance Sheet From the following accounts, listed in alphabetical order, prepare a classified balance sheet for Berkly Wholesalers as of December 31. $117,000 45,000 78,000 2,000 2 7,000 Accounts payable $43,000 Inventory Accounts receivable 40,000 Land Building 67,000 Mortgage payable (long term) Cash 26,000 Office supplies Common stock 111,000 Retained earnings Salaries payable Berkly Wholesalers Balance Sheet December 31, 2018 Assets Current Assets Cash 26,000 Accounts receivable 40,000 Inventory 117.000 Office supplies 2,000 Total Current...
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...
Cash Investments (short-term) Accounts receivable Inventory Notes receivable (long-term) Equipment Factory building Intangibles $20,000 Accounts payable 3,200 Accrued liabilities payable 3,600 Notes payable (current) 26,000 Notes payable (noncurrent) 2,600 Common stock 50,000 Additional paid-in capital 97,000 Retained earnings 4,400 $21,000 2,600 7,300 41,000 9,500 85,500 39,900 During the current year, the company had the following summarized activities: a. Purchased short-term investments for $8,400 cash. b. Lent $5,700 to a supplier who signed a two-year note. c. Purchased equipment that cost...
E4-01A.Stat eBook Print Question 1 Not complete Marked out of 29.00 P Flag question $117.000 Preparing a Classified Balance Sheet From the following accounts, listed in alphabetical order, prepare classified balance sheet for Berkly Wholesalers as of December 31. Accounts payable 543.000 Inventory Accounts receivable 40,000 Land 45,000 Building 67,000 Mortgage payable long term 78,000 Cash 26,000 ke Supplies 2.000 Common stock 111,000 Retained earnings 2 Salaries payable 7.000 Note: Balance sheet accounts are disclosed in a certain order Refer...
eBook ер Question 2 Not complete Marked out of 29.00 P Flag question Preparing a Classified Balance Sheet From the following accounts, listed in alphabetical order, prepare a classified balance sheet for Blaford Wholesalers as of December 31. Accounts payable 352.000 Inventory 5142,000 Accounts receivable 54,000 Land 58,000 Building 91.000 Mortgage payable long term 100.000 Cash 40.000 Office supplies 2.000 Common stock 136,000 Retained earnings 2 Salaries payable 8.000 Note: Balance sheet accounts are disclosed in a certain order, Refer...
Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings $6,530 1,455 48,740 24,320 Inventory Land 240,000 Automobiles 81,525 11,000 38,190 121,600 161,000 190,950 158,000 13,000 Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash Long-term investments Notes payable, due June 30, 2018 Office supplies Paid-in capital in excess of par value 2,280 47,000 Patents 43,000 Prepaid rent 1,460 Retained earnings 295,445 Salaries and wages payable 3,945...
Presented below is a list of accounts in alphabetical
order.
Accounts Receivable
Inventory-Ending
Accumulated
Depreciation-Buildings
Land
Accumulated
Depreciation-Equipment
Land for Future Plant
Site
Accumulated Other
Comprehensive Income
Loss from Flood
Advances to Employees
Noncontrolling Interest
Advertising Expense
Notes Payable (due next
year)
Allowance for Doubtful
Accounts
Paid-in Capital in Excess of
Par-Preferred Stock
Bond Sinking Fund
Patents
Bonds Payable
Payroll Taxes Payable
Buildings
Pension Liability
Cash (in bank)
Petty Cash
Cash (on hand)
Preferred Stock
Cash Surrender Value of Life...
E BUSINESSCOLIS Return to course Profitability, Liquidity, and Solvency Ratios Shannon Corporation gathered the following information from its financial statements: Net sales Net Income Current assets Current liabilities Total assets Total liabilities $180,000 25,200 40,500 27,000 130,000 97,500 Using the above data, calculate the following: (1) profit margin, (2) current ratio, (3) debt-to-total assets ratio, and (4) return on assets ratio. Note: Round answers to one decimal place. Profit margin Current ratio Debt-to-total assets ratio Return on assets ratio 0%...
Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings $6,530 1,455 48,740 24,320 Inventory Land 240,000 Automobiles 81,525 11,000 38,190 121,600 161,000 190,950 158,000 13,000 Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash Long-term investments Notes payable, due June 30, 2018 Office supplies Paid-in capital in excess of par value 2,280 47,000 Patents 43,000 Prepaid rent 1,460 Retained earnings 295,445 Salaries and wages payable 3,945...
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