Sweet Inc., a greeting card company, had the following statements prepared as of December 31, 2017....
Metlock Inc., a greeting card company, had the following statements prepared as of December 31, 2017. METLOCK INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 12/31/17 12/31/16 Cash $5,900 $7,100 Accounts receivable 62,000 51,000 Short-term debt investments (available-for-sale) 35,000 18,100 Inventory 40,400 59,900 Prepaid rent 5,000 4,000 Equipment 153,300 129,100 Accumulated depreciation—equipment (35,000 ) (24,800 ) Copyrights 46,300 50,300 Total assets $312,900 $294,700 Accounts payable $46,500 $40,200 Income taxes payable 4,100 6,100 Salaries and wages payable 8,100...
Flint Inc., a greeting card company, had the following statements prepared as of December 31, 2017. FLINT INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 12/31/17 12/31/16 Cash $6,100 $6,900 Accounts receivable 61,900 50,500 Short-term debt investments (available-for-sale) 34,800 18,200 Inventory 39,900 59,800 Prepaid rent 4,900 4,000 Equipment 155,500 131,200 Accumulated depreciation equipment (34,800) (25,300 ) Copyrights 45,700 50,200 Total assets $314,000 $295,500 Accounts payable Income taxes payable Salaries and wages payable Short-term loans payable Long-term loans...
Nash Inc., a greeting card company, had the following statements prepared as of December 31, 2017. NASH INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 12/31/17 12/31/16 Cash $6,000 $7,000 Accounts receivable 62,600 50,600 Short-term debt investments (available-for-sale) 35,200 18,100 Inventory 39,600 59,700 Prepaid rent 5,000 4,000 Equipment 152,800 128,900 Accumulated depreciation—equipment (34,900 ) (24,800 ) Copyrights 45,900 49,800 Total assets $312,200 $293,300 Accounts payable $45,900 $39,900 Income taxes payable 4,000 6,000 Salaries and wages payable 8,100...
Brecker Inc., a greeting card company, had the following statements prepared as of December 31, 2017. BRECKER INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 12/31/17 12/31/16 Cash $6,000 $7,000 Accounts receivable 62,000 51,000 Short-term debt investments (available-for-sale) 35,000 18,000 Inventory 40,000 60,000 Prepaid rent 5,000 4,000 Equipment 154,000 130,000 Accumulated depreciation—equipment (35,000 ) (25,000 ) Copyrights 46,000 50,000 Total assets $313,000 $295,000 Accounts payable $46,000 $40,000 Income taxes payable 4,000 6,000 Salaries and wages payable 8,000...
Marin Inc., a greeting card company, had the following statements prepared as of December 31, 2017 MARIN INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 12/31/17 12/31/16 Cash $5,900 $7,000 Accounts receivable 61,500 51,400 Short-term debt investments (available-for-sale) 35,400 17,800 Inventory 39,900 60,400 Prepaid rent 4,900 3,900 Equipment 155,300 131,000 Accumulated depreciation-equipment (34,700 ) (25,200) Copyrights 45,900 49,900 Total assets $314,100 $296,200 Accounts payable Income taxes payable Salaries and wages payable Short-term loans payable Long-term loans payable...
Stellar Inc., a greeting card company, had the following statements prepared as of December 31, 2020. STELLAR INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 12/31/20 12/31/19 Cash $7,100 51,000 Accounts receivable $6,100 61,500 34,800 39,800 Short-term debt investments (available-for-sale) 17,900 Inventory 59,900 Prepaid rent 5,000 4,000 Equipment 155,200 129,900 Accumulated depreciation-e (35,200) (24,800) Copyrights 45,800 49,800 Total assets $313,000 $294,800 Accounts payable $45,800 $39,800 Income taxes payable 4,100 6,000 Salaries and wages payable 7,900 3,900 Short-term...
Exercise 23-13
Indigo Inc., a greeting card company, had the following statements
prepared as of December 31, 2017.
INDIGO INC.
COMPARATIVE BALANCE SHEET
AS OF DECEMBER 31, 2017 AND 2016
12/31/17
12/31/16
Cash
$6,100
$7,100
Accounts receivable
62,400
51,000
Short-term debt investments (available-for-sale)
34,700
18,100
Inventory
40,400
60,300
Prepaid rent
4,900
4,000
Equipment
154,100
130,600
Accumulated depreciation—equipment
(34,900
)
(24,800
)
Copyrights
46,400
49,800
Total assets
$314,100
$296,100
Accounts payable
$46,500
$40,200
Income taxes payable
4,000
6,000
Salaries and wages...
Martinez Inc., a greeting card company that follows ASPE, had the following statements prepared as at December 31, 2020: MARTINEZ INC. Comparative Statement of Financial Position December 31 2020 2019 Cash $45,745 $25,080 Accounts receivable 58,150 51,170 Inventory 39,950 60,100 Prepaid rent 5,030 4,020 Equipment 164,730 130,100 Accumulated depreciation–equipment (35,030 ) (25,020 ) Goodwill 34,000 70,000 Total assets $312,575 $315,450 Accounts payable $46,130 $40,100 Income tax payable 3,950 6,100 Salaries and wages payable 8,080 4,080 Short–term loans payable 8,150 10,170...
Sarasota Inc., a greeting card company that follows ASPE, had the following statements prepared as at December 31, 2020: SARASOTA INC. Comparative Statement of Financial Position December 31 2020 2019 Cash $46,780 $25,140 Accounts receivable 57,860 51,040 Inventory 40,080 60,160 Prepaid rent 5,260 4,130 Equipment 162,550 130,040 Accumulated depreciation–equipment (35,260 ) (25,130 ) Goodwill 22,000 58,000 Total assets $299,270 $303,380 Accounts payable $46,050 $40,040 Income tax payable 4,080 6,160 Salaries and wages payable 8,140 4,140 Short–term loans payable 7,860 10,040...
Sweet Inc., a greeting card company, had the following statements. SWEET INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 12/31/2020 12/31/2019 Cash and cash equivalents 43,500 63,700 Accounts receivable 47,800 51,000 Inventory 40,400 3,700 Prepaid expenses 4,000 13,000 Long-term available-for-sale investments 34,700 84,000 Land 50,100 25,600 Machinery 123,000 67,000 Accumulated depreciation - machinery (10,000) (13,000) Total assets 333,500 295,000 Accounts payable 26,500 40,200 Accrued liabilities 4,000 7,500 Bonds payable 40,000 80,000 Common stock 175,000 100,000 Additional paid-in...