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Following are the current asset and current liability sections of the balance sheets for Freedom Inc....
Current Attempt in Progress The current sections of Scoggin Inc.'s balance sheets at December 31, 2019...
Current Attempt in Progress The current sections of Scoggin Inc.'s balance sheets at December 31, 2019 and 2020, are presented here. Scoggin's net income for 2020 was $153,000. Depreciation expense was $24,000. 2019 2018 Current assets Cash Accounts receivable $105,000 110,000 158,000 27,000 $99,000 89,000 172,000 22.000 Inventory Prepaid expenses Total current assets $400,000 $382.000 Current liabilities Accrued expenses payable $15,000 $5,000 Accounts payable 85,000 92.000 Total current liabilities $100,000 $97,000 Scoggin Inc. Partial Statement of Cash Flows Adjustments to...
The current sections of Donny Inc.'s balance sheets at December 31, 2019 and 2020, are presented...
The current sections of Donny Inc.'s balance sheets at December 31, 2019 and 2020, are presented below. Donny's net income for 2020 was $203,000 Depreciation expense was $25,000 2020 2019 Current Assets Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets $ 115,000 105,000 154,000 27 000 $ 401,000 $ 99,000 89,000 172,000 21,000 $ 381,000 Current Liabilities: Accrued Expenses Payable Accounts Payable Total Curent Liabilities $ 15,000 85,000 $ 100,000 $ 5,000 93.000 $ 98,000 Net cash inflows from...
The current sections of Bramble Corps balance sheets at December 31, 2019 and 2020, are presented...
The current sections of Bramble Corps balance sheets at December 31, 2019 and 2020, are presented here. Bramble's net income for 2020 was $152,400. Depreciation expense was $23,900. 2019 2018 Current assets Cash Accounts receivable Inventory $104,800 $96.200 111,500 79,200 159,000 172,200 26,900 25,400 $402,200 $373,000 Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable $14.500 84.400 $98,900 $9,800 95.900 $105,700 Total current liabilities Bramble Corp. Partial Statement of Cash Flows Adjustments to reconcile net income to...
Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019....
Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019. Sales for the year ended December 31, 2020, totaled $650,000. HAMES INC. Balance Sheets December 31, 2020 and 2019 2020 2019 $ 19,000 78,000 103,000 $ 200,000 50,000 125,000 (65,000) $ 310,000 $ 20,000 72,000 99,000 $191,000 40,000 110,000 (60,000) $ 281,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt Accounts...
The current sections of Sheridan Company's balance sheets at December 31, 2019 and 2020, are presented...
The current sections of Sheridan Company's balance sheets at December 31, 2019 and 2020, are presented here. Sheridan's net income for 2020 was $152,700. Depreciation expense was $24,300. 2019 2018 Current assets Cash Accounts receivable Inventory $107,100 $95,300 109,200 78,300 157,800 171,100 26,100 25,300 $400,200 $370,000 Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable $15,300 $9,900 84,700 95,300 $100,000 $105,200 Total current liabilities Prepare the net cash provided by operating activities section of the company's statement...
Chech Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and...
Chech Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019. Sales for the year ended December 31, 2020, totaled $670,000. HAMES INC. Balance Sheets December 31, 2020 and 2019 2020 2019 $ 25,000 78,000 103,000 $ 206,000 50,000 125,000 (65,000) $ 316,000 $ 20,000 72,000 99,000 $191,000 40,000 110,000 (60,000) $ 281,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt...
Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019....
Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019. Sales for the year ended December 31, 2020, totaled $690,000. HAMES INC. Balance Sheets December 31, 2020 and 2019 2020 2019 $ 19,000 78,000 103,000 $ 200,000 50,000 125,000 (65,000) $ 310,000 $ 20,000 72,000 99,000 $191,000 40,000 110,000 (60,000) $ 281,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt Accounts...
Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019....
Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019. Sales for the year ende December 31, 2020, totaled $580,000. HAMES INC. Balance Sheets December 31, 2020 and 2019 2020 2019 $ 23,000 78,000 103,000 $ 204,000 50,000 125,000 (65,000 $314,000 $ 20,000 72,000 99,000 $191,000 40,000 110,000 (60,000) $281,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt Accounts payable Other...
Exercise 12-5 The current sections of Windsor, Inc.’s balance sheets at December 31, 2018 and 2019,...
Exercise 12-5 The current sections of Windsor, Inc.’s balance sheets at December 31, 2018 and 2019, are presented here. Windsor’s net income for 2019 was $152,200. Depreciation expense was $24,500. 2019 2018 Current assets Cash $102,400 $96,100 Accounts receivable 110,900 80,000 Inventory 157,000 172,800 Prepaid expenses 26,800 25,600 Total current assets $397,100 $374,500 Current liabilities Accrued expenses payable $15,800 $8,700 Accounts payable 86,000 95,600 Total current liabilities $101,800 $104,300 Prepare the net cash provided by operating activities section of the...
Please answer with explanations. Presented here are the comparative balance sheets of Hames Inc. at December...
Please answer with explanations.
Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019. Sales for the year ended December 31, 2020, totaled $500,000. HAMES INC. Balance Sheets December 31, 2020 and 2019 2020 2019 Assets Cash Accounts receivable Merchandise inventory $ 20,000 72,000 99,000 $ 21,000 78,000 103,000 $202,000 50,000 125,000 (65,000) $312,000 $191,000 40,000 110,000 (60,000) $281,000 Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt...
Current Attempt in Progress The current sections of Scoggin Inc.'s balance sheets at December 31, 2019 and 2020, are presented here. Scoggin's net income for 2020 was $153,000. Depreciation expense was $24,000. 2019 2018 Current assets Cash Accounts receivable $105,000 110,000 158,000 27,000 $99,000 89,000 172,000 22.000 Inventory Prepaid expenses Total current assets $400,000 $382.000 Current liabilities Accrued expenses payable $15,000 $5,000 Accounts payable 85,000 92.000 Total current liabilities $100,000 $97,000 Scoggin Inc. Partial Statement of Cash Flows Adjustments to...
The current sections of Donny Inc.'s balance sheets at December 31, 2019 and 2020, are presented below. Donny's net income for 2020 was $203,000 Depreciation expense was $25,000 2020 2019 Current Assets Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets $ 115,000 105,000 154,000 27 000 $ 401,000 $ 99,000 89,000 172,000 21,000 $ 381,000 Current Liabilities: Accrued Expenses Payable Accounts Payable Total Curent Liabilities $ 15,000 85,000 $ 100,000 $ 5,000 93.000 $ 98,000 Net cash inflows from...
The current sections of Bramble Corps balance sheets at December 31, 2019 and 2020, are presented here. Bramble's net income for 2020 was $152,400. Depreciation expense was $23,900. 2019 2018 Current assets Cash Accounts receivable Inventory $104,800 $96.200 111,500 79,200 159,000 172,200 26,900 25,400 $402,200 $373,000 Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable $14.500 84.400 $98,900 $9,800 95.900 $105,700 Total current liabilities Bramble Corp. Partial Statement of Cash Flows Adjustments to reconcile net income to...
Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019. Sales for the year ended December 31, 2020, totaled $650,000. HAMES INC. Balance Sheets December 31, 2020 and 2019 2020 2019 $ 19,000 78,000 103,000 $ 200,000 50,000 125,000 (65,000) $ 310,000 $ 20,000 72,000 99,000 $191,000 40,000 110,000 (60,000) $ 281,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt Accounts...
The current sections of Sheridan Company's balance sheets at December 31, 2019 and 2020, are presented here. Sheridan's net income for 2020 was $152,700. Depreciation expense was $24,300. 2019 2018 Current assets Cash Accounts receivable Inventory $107,100 $95,300 109,200 78,300 157,800 171,100 26,100 25,300 $400,200 $370,000 Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable $15,300 $9,900 84,700 95,300 $100,000 $105,200 Total current liabilities Prepare the net cash provided by operating activities section of the company's statement...
Chech Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019. Sales for the year ended December 31, 2020, totaled $670,000. HAMES INC. Balance Sheets December 31, 2020 and 2019 2020 2019 $ 25,000 78,000 103,000 $ 206,000 50,000 125,000 (65,000) $ 316,000 $ 20,000 72,000 99,000 $191,000 40,000 110,000 (60,000) $ 281,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt...
Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019. Sales for the year ended December 31, 2020, totaled $690,000. HAMES INC. Balance Sheets December 31, 2020 and 2019 2020 2019 $ 19,000 78,000 103,000 $ 200,000 50,000 125,000 (65,000) $ 310,000 $ 20,000 72,000 99,000 $191,000 40,000 110,000 (60,000) $ 281,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt Accounts...
Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019. Sales for the year ende December 31, 2020, totaled $580,000. HAMES INC. Balance Sheets December 31, 2020 and 2019 2020 2019 $ 23,000 78,000 103,000 $ 204,000 50,000 125,000 (65,000 $314,000 $ 20,000 72,000 99,000 $191,000 40,000 110,000 (60,000) $281,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt Accounts payable Other...
Please answer with explanations.
Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019. Sales for the year ended December 31, 2020, totaled $500,000. HAMES INC. Balance Sheets December 31, 2020 and 2019 2020 2019 Assets Cash Accounts receivable Merchandise inventory $ 20,000 72,000 99,000 $ 21,000 78,000 103,000 $202,000 50,000 125,000 (65,000) $312,000 $191,000 40,000 110,000 (60,000) $281,000 Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt...
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