Presented below are selected accounts for San Marcos Corporation for December 31 of the current year....
Presented below are selected accounts for San Marcos Corporation for December 31 of the current year.
|
Debit |
Credit |
|
| Accounts
Receivablelong dash—trade |
$ 740$740 |
|
|
Building and Equipment |
1 comma 0401,040 |
|
| Cash in
Banklong dash—operating |
6969 |
|
| Interest
Receivablelong dash— due in 1 month |
5555 |
|
| Installment
Receivableslong dash— due in 6 months |
8080 |
|
|
Merchandise Inventory |
4545 |
|
|
Land |
320320 |
|
| Notes
Receivablelong dash—long term |
545545 |
|
|
Petty Cash |
2828 |
|
| Prepaid
Expenseslong dash—current |
5252 |
|
|
Supplies |
3939 |
|
|
Patent |
8080 |
|
| Accounts
Payablelong dash—trade |
645645 |
|
|
Accumulated Depreciation |
245245 |
|
| Additional
Paidminus−in Capital |
620620 |
|
|
Allowance for Uncollectible Accounts |
7575 |
|
|
Cash Dividends Payable |
8080 |
|
| Common
Stocklong dash—$1 par value |
6565 |
|
|
Income Tax Payable |
105105 |
|
| Notes
Payablelong dash—2 years |
920920 |
|
|
Retained Earnings |
8585 |
|
| Unearned
Revenueslong dash—2 years |
105105 |
|
|
Cash Dividends Declared Service Revenue |
260260 |
608608 |
|
Operating Expenses |
200 |
|
|
TOTALS |
$3 comma 5533,553 |
$3 comma 5533,553 |
What are current assets for San Marcos Corporation?
Homework Answers
| Accounts Receivable-Trade | 740 |
| Cash in Bank-operating | 69 |
| Interest Receivable-due in 1 month | 55 |
| Installment receivables-due in 6 months | 80 |
| Merchandise Inventory | 45 |
| Petty Cash | 28 |
| Prepaid Expenses-current | 52 |
| Supplies | 39 |
| Less: Allowance for Uncollectible Accounts | -75 |
| Current assets for San Marcos Corporation | 1033 |
Add Answer to:
Presented below are selected accounts for San Marcos Corporation
for December 31 of the current year....
Presented below are selected ledger accounts of Tucker Corporation as of December 31, 2017. Cash $50,000...
Presented below are selected ledger accounts of Tucker
Corporation as of December 31, 2017.
Cash
$50,000
Administrative expenses
100,000
Selling expenses
80,000
Net sales
540,000
Cost of goods sold
210,000
Cash dividends declared (2017)
20,000
Cash dividends paid (2017)
15,000
Discontinued operations (loss before income taxes)
40,000
Depreciation expense, not recorded in 2016
30,000
Retained earnings, December 31, 2016
90,000
Effective tax rate 30%
Exercise 4-8 Presented below are selected ledger accounts of Tucker Corporation as of December 31, 2017...
Presented below are selected ledger accounts of Crane Corporation as of December 31, 2020. Cash $40,000...
Presented below are selected ledger accounts of Crane
Corporation as of December 31, 2020.
Cash
$40,000
Administrative expenses
80,000
Selling expenses
64,000
Net sales
432,000
Cost of goods sold
168,000
Cash dividends declared (2020)
16,000
Cash dividends paid (2020)
12,000
Discontinued operations (loss before income taxes)
32,000
Depreciation expense, not recorded in 2019
24,000
Retained earnings, December 31, 2019
72,000
Effective tax rate 20%
Compute net income for 2020.
Presented below are the ending balances of accounts for the Kansas Instruments Corporation at December 31,...
Presented below are the ending balances of accounts for the Kansas Instruments Corporation at December 31, 2021. Credits $ Debits 33,000 156,000 37,000 113,000 16,000 $ 18,000 45,000 63,000 1,560,000 633,000 Account Title Cash Accounts receivable Raw materials Notes receivable Interest receivable Interest payable Investment in debt securities Land Buildings Accumulated depreciation-buildings Work in process Finished goods Equipment Accumulated depreciation equipment Patent (net) Prepaid rent (for the next two years) Deferred revenue Accounts payable Notes payable Restricted cash (for payment...
Presented below are selected ledger accounts of Marigold Corporation as of December 31, 2020. Cash Administrative...
Presented below are selected ledger accounts of Marigold Corporation as of December 31, 2020. Cash Administrative expenses Selling expenses Net sales Cost of goods sold Cash dividends declared (2020) Cash dividends paid (2020) Discontinued operations (loss before income taxes) Depreciation expense, not recorded in 2019 Retained earnings, December 31, 2019 Effective tax rate 20% $43,000 86,000 68,800 464,400 180,600 17,200 12,900 34,400 25,800 Compute net income for 2020. Net income $ Prepare a partial income statement beginning with income from...
Presented below are the ending balances of accounts for the Kansas Instruments Corporation at December 31,...
Presented below are the ending balances of accounts for the Kansas Instruments Corporation at December 31, 2021. Account Title Debits Credits Cash $ 40,000 Accounts receivable 170,000 Raw materials 44,000 Notes receivable 120,000 Interest receivable 23,000 Interest payable $ 25,000 Investment in debt securities 52,000 Land 70,000 Buildings 1,700,000 Accumulated depreciation—buildings 640,000 Work in process 62,000 Finished goods 109,000 Equipment 340,000 Accumulated depreciation—equipment 150,000 Patent (net) 140,000 Prepaid rent (for the next two years) 80,000 Deferred revenue 56,000 Accounts payable...
Presented below is selected information related to Swifty Corporation at December 31, 2019. Swifty Corporation reports...
Presented below is selected information related to Swifty Corporation at December 31, 2019. Swifty Corporation reports financial information monthly Accounts Payable $3,120 Salaries and Wages Expense Cash 9,360 Notes Payable Advertising Expense 6,240 Rent Expense $17.160 26,000 10,192 14.040 7,800 Service Revenue 56,160 Accounts Receivable Dividends Equipment 30,160 Determine the total assets of Swifty Corporation at December 31, 2019. Total assets of Swifty Corporation $ eTextbook and Media Determine the net income that Swifty Corporation reported for December 2014 Net...
Presented below are selected ledger accounts of Oriole Corporation as of December 31, 2020. Cash Administrative...
Presented below are selected ledger accounts of Oriole Corporation as of December 31, 2020. Cash Administrative expenses Selling expenses Net sales Cost of goods sold Cash dividends declared (2020) Cash dividends paid (2020) Discontinued operations (loss before income taxes) Depreciation expense, not recorded in 2019 Retained earnings, December 31, 2019 Effective tax rate 20% $59,000 118,000 94,400 637,200 247,800 23,600 17,700 47,200 35,400 106,200 Compute net income for 2020. Net income $ e Textbook and Media Prepare a partial income...
Presented below are selected ledger accounts of Sunland Corporation as of December 31, 2020. Cash $52,000...
Presented below are selected ledger accounts of Sunland Corporation as of December 31, 2020. Cash $52,000 Administrative expenses 104,000 Selling expenses 83,200 Net sales 561,600 Cost of goods sold 218,400 Cash dividends declared (2020) 20,800 Cash dividends paid (2020) 15,600 Discontinued operations (loss before income taxes) 41,600 Depreciation expense, not recorded in 2019 31,200 Retained earnings, December 31, 2019 93,600 Effective tax rate 20% Compute net income for 2020. Net income $ Prepare a partial income statement beginning with income...
10,000 shares Presented below are selected ledger accounts of Bramble Corporation as of December 31, 2020....
10,000 shares
Presented below are selected ledger accounts of Bramble Corporation as of December 31, 2020. Cash Administrative expenses Selling expenses Net sales Cost of goods sold Cash dividends declared (2020) Cash dividends paid (2020) Discontinued operations (loss before income taxes) Depreciation expense, not recorded in 2019 Retained earnings, December 31, 2019 Effective tax rate 20% $53,000 106,000 84,800 572,400 222,600 21,200 15,900 42,400 31,800 95,400 Compute net income for 2020. Net income Prepare a partial income statement beginning with...
Presented below are selected ledger accounts of Oriole Corporation as of December 31, 2020. Cash Administrative...
Presented below are selected ledger accounts of Oriole Corporation as of December 31, 2020. Cash Administrative expenses Selling expenses Net sales Cost of goods sold Cash dividends declared (2020) Cash dividends paid (2020) Discontinued operations (loss before income taxes) Depreciation expense, not recorded in 2019 Retained earnings, December 31, 2019 Effective tax rate 20% $59,000 118,000 94,400 637,200 247,800 23,600 17,700 47,200 35,400 106,200 Compute net income for 2020. Net income $ Prepare a partial income statement beginning with income...
Presented below are selected ledger accounts of Tucker
Corporation as of December 31, 2017.
Cash
$50,000
Administrative expenses
100,000
Selling expenses
80,000
Net sales
540,000
Cost of goods sold
210,000
Cash dividends declared (2017)
20,000
Cash dividends paid (2017)
15,000
Discontinued operations (loss before income taxes)
40,000
Depreciation expense, not recorded in 2016
30,000
Retained earnings, December 31, 2016
90,000
Effective tax rate 30%
Exercise 4-8 Presented below are selected ledger accounts of Tucker Corporation as of December 31, 2017...
Presented below are selected ledger accounts of Crane
Corporation as of December 31, 2020.
Cash
$40,000
Administrative expenses
80,000
Selling expenses
64,000
Net sales
432,000
Cost of goods sold
168,000
Cash dividends declared (2020)
16,000
Cash dividends paid (2020)
12,000
Discontinued operations (loss before income taxes)
32,000
Depreciation expense, not recorded in 2019
24,000
Retained earnings, December 31, 2019
72,000
Effective tax rate 20%
Compute net income for 2020.
Presented below are the ending balances of accounts for the Kansas Instruments Corporation at December 31, 2021. Credits $ Debits 33,000 156,000 37,000 113,000 16,000 $ 18,000 45,000 63,000 1,560,000 633,000 Account Title Cash Accounts receivable Raw materials Notes receivable Interest receivable Interest payable Investment in debt securities Land Buildings Accumulated depreciation-buildings Work in process Finished goods Equipment Accumulated depreciation equipment Patent (net) Prepaid rent (for the next two years) Deferred revenue Accounts payable Notes payable Restricted cash (for payment...
Presented below are selected ledger accounts of Marigold Corporation as of December 31, 2020. Cash Administrative expenses Selling expenses Net sales Cost of goods sold Cash dividends declared (2020) Cash dividends paid (2020) Discontinued operations (loss before income taxes) Depreciation expense, not recorded in 2019 Retained earnings, December 31, 2019 Effective tax rate 20% $43,000 86,000 68,800 464,400 180,600 17,200 12,900 34,400 25,800 Compute net income for 2020. Net income $ Prepare a partial income statement beginning with income from...
Presented below is selected information related to Swifty Corporation at December 31, 2019. Swifty Corporation reports financial information monthly Accounts Payable $3,120 Salaries and Wages Expense Cash 9,360 Notes Payable Advertising Expense 6,240 Rent Expense $17.160 26,000 10,192 14.040 7,800 Service Revenue 56,160 Accounts Receivable Dividends Equipment 30,160 Determine the total assets of Swifty Corporation at December 31, 2019. Total assets of Swifty Corporation $ eTextbook and Media Determine the net income that Swifty Corporation reported for December 2014 Net...
Presented below are selected ledger accounts of Oriole Corporation as of December 31, 2020. Cash Administrative expenses Selling expenses Net sales Cost of goods sold Cash dividends declared (2020) Cash dividends paid (2020) Discontinued operations (loss before income taxes) Depreciation expense, not recorded in 2019 Retained earnings, December 31, 2019 Effective tax rate 20% $59,000 118,000 94,400 637,200 247,800 23,600 17,700 47,200 35,400 106,200 Compute net income for 2020. Net income $ e Textbook and Media Prepare a partial income...
10,000 shares
Presented below are selected ledger accounts of Bramble Corporation as of December 31, 2020. Cash Administrative expenses Selling expenses Net sales Cost of goods sold Cash dividends declared (2020) Cash dividends paid (2020) Discontinued operations (loss before income taxes) Depreciation expense, not recorded in 2019 Retained earnings, December 31, 2019 Effective tax rate 20% $53,000 106,000 84,800 572,400 222,600 21,200 15,900 42,400 31,800 95,400 Compute net income for 2020. Net income Prepare a partial income statement beginning with...
Presented below are selected ledger accounts of Oriole Corporation as of December 31, 2020. Cash Administrative expenses Selling expenses Net sales Cost of goods sold Cash dividends declared (2020) Cash dividends paid (2020) Discontinued operations (loss before income taxes) Depreciation expense, not recorded in 2019 Retained earnings, December 31, 2019 Effective tax rate 20% $59,000 118,000 94,400 637,200 247,800 23,600 17,700 47,200 35,400 106,200 Compute net income for 2020. Net income $ Prepare a partial income statement beginning with income...
Most questions answered within 3 hours.
-
For each of the Z-scores below, determine two probabilities
(show four three decimal places): (1) the...
asked 12 minutes ago -
Oxidative phosphorylation is achieved through chemiosmotic
coupling, which turns chemical energy into osmotic potential energy
that...
asked 2 hours ago -
Hollywood Shoes would like to maintain their cash account at a
minimum level of $64,000, but...
asked 2 hours ago -
Proteins CtrA-P, DnaA, and GcrA behave similarly to what
molecule in the Eukaryotic Cell Cycle?
asked 2 hours ago -
TRUE OR FALSE
In case of a competitive tender procedure, in the request for
quotation, the...
asked 3 hours ago -
I am a little behind please provide some explanation, will
provide thumbs up.
This question considers...
asked 3 hours ago -
Let say the utility function as U(X,Y) = lnX + Y. Show that the
marginal rate...
asked 3 hours ago -
A current of I=8.0A is flowing in a typical extension cord of
length L=3.00m. The cord...
asked 3 hours ago -
1. When balancing the equation H2SO4 (aq) + NaOH (aq) →
Na2SO4(aq) + H2O(aq), would you...
asked 3 hours ago -
Provide a definition of “classification hierarchy” and
illustrate your definition with an example of how and...
asked 3 hours ago -
1. Describe the four main green solvents. Provide one example of
the use of each solvent....
asked 3 hours ago -
International ethics focus on:
1) exploitation of labor
2)corruption
3) environmental impact
4) none of the...
asked 3 hours ago