Homework Answers
Grant Co
Balance Sheet
December 31
| Current liabilities | ||
| Account payable | 56000 | |
| Salaries payable | 12200 | |
| Unearned fees | 8900 | |
| Taxes payable | 3200 | |
| Notes payable | 30000 | |
| Total Current liabilities | 110300 | |
| Long term liabilities | ||
| Notes payable | 210000 | |
| Total liabilities | 320300 | |
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Grant Co. had the following liabilities at December 31, the end of its fiscal year: Accounts...
Clear Water Co. reports the following balance sheet accounts as of December 31. Buildings Accounts receivable...
Clear Water Co. reports the following balance sheet accounts as of December 31. Buildings Accounts receivable Land Merchandise inventory Accounts payable Cash Notes payable (due in 7 years) Office supplies 0.Water, Capital Wages payable $ 30,000 2,200 13,000 7,400 5,200 8,400 34,000 1,400 20,000 3,200 Required: Prepare a classified balance sheet. Clear Water Co. Balance Sheet December 31 Assets Current assets Total current assets Plant assets Total plant assets Total assets Liabilities Current liabilities Total current liabilities Long-term liabilities Total...
Brar Maintenance Company showed the following adjusted trial balance information for its December 31, 2020, year-end....
Brar Maintenance Company showed the following adjusted trial balance information for its December 31, 2020, year-end. Account Accounts payable Accounts receivable Accum. deprec., building Accum. deprec., machinery Allowance for doubtful accounts Building Cash Estimated warranty liabilities Income taxes payable Income tax expense Interest payable Balance1 Account $ 43,500 Interest receivable 37,800 Jake Brar, capital 364,000 Land 137,000 Machinery 2,900 Merchandise inventory 538,000 Notes payable? 20,100 Notes receivable, due 2021 12,100 Operating expenses 8,900 Prepaid rent 120,400 Revenue 710 Unearned revenue...
E10-15 Sanchez, Inc. reports the following liabilities (in thousands) on its December 31, 2017, balance sheet...
E10-15 Sanchez, Inc. reports the following liabilities (in thousands) on its December 31, 2017, balance sheet and notes to the financial statements. Prepare liabilities section of balance sheet. Accounts payable Accrued pension liability Unearned rent revenue Bonds payable Current portion of $4,263.9 Mortgage payable $6,746.7 (LO 4), AP 1,115.2 1,058.1 1,961.2 Operating leases Notes payable (due in 2020) Salaries and wages payable Notes payable (due in 2018)2,563.6 1,641.7 335.6 858.1 mortgage payable Income taxes payable 1,992.2 Unused operating line of...
Sage Hill Inc. reports the following liabilities (in thousands) on its December 31, 2020, balance sheet...
Sage Hill Inc. reports the following liabilities (in thousands) on its December 31, 2020, balance sheet and notes to the financial statements. Accounts payable $5,235.0 Mortgage payable $7,407.0 Unearned rent revenue 1,458.0 Notes payable (due in 2023) 382.0 Bonds payable 2,146.0 Salaries and wages payable 561.0 Current portion of mortgage payable 2,303.0 Notes payable (due in 2021) 3,325.0 Prepare the liabilities section of Sage Hill's balance sheet as at December 31, 2020. SAGE HILL INC. Balance Sheet (Partial (in thousands)
Exercise 10-19 (Part Level Submission) Marin, Inc. reports the following liabilities (in thousands) on its December...
Exercise 10-19 (Part Level Submission)
Marin, Inc. reports the following liabilities (in thousands) on its
December 31, 2022, balance sheet and notes to the financial
statements.
Accounts payable
$4,263.0
Mortgage payable
$6,746.0
Unearned rent revenue
1,058.0
Notes payable (due in 2025)
335.0
Bonds payable
1,953.0
Salaries and wages payable
858.0
Current portion of mortgage payable
1,992.0
Notes payable (due in 2023)
2,563.0
Income taxes payable
265.0
Warranty liability—current
1,417.0
*(b) Prepare the liabilities section of Marin's balance sheet as at...
list of accounts Blossom Company ended its fiscal year on July 31, 2020. The company's adjusted...
list of accounts
Blossom Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows. Blossom Company Adjusted Trial Balance July 31, 2020 Account Titles No. Debit Credit $8,000 9,000 16,200 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 301 Owner's Capital 306 Owner's Drawings 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense Salaries and Wages...
Adams Co. reports the following balance sheet accounts as of December 31. $ Salaries payable Buildings...
Adams Co. reports the following balance sheet accounts as of December 31. $ Salaries payable Buildings Prepaid rent Merchandise inventory Accounts payable Prepaid insurance Accounts receivable Common stock 6,000 Retained earnings 55,000 Notes payable (due in 9 years) 7,000 office supplies 14,000 Land 10,000 Accumulated depreciation-Building 3,000 Mortgages payable (due in 5 years) 4,000 Cash 10,000 $ 50,000 30,000 2,000 22,000 5,000 12,000 16,000 Required: Prepare a classified balance sheet. (Amounts to be deducted should be indicated by a minus...
Exercise 10-15 Marin Inc. reports the following liabilities (in thousands) on its January 31, 2017, balance sheet an...
Exercise 10-15 Marin Inc. reports the following liabilities (in thousands) on its January 31, 2017, balance sheet and notes to the financial statements. $4,445.0 Mortgage payable 1,618.0 Operating leases 1,366.0 Notes payable (due in 2020) 2,102.0 Salaries and wages payable Accounts payable $6,750.0 2,493.0 Accrued pension liability Unearned rent revenue 360.0 590.0 Bonds payable Current portion of mortgage payable Income taxes payable 2,212.0 Notes payable (due in 2018) 278.0 Unused operating line of credit Warranty liability-current 2,985.0 3,500.0 1,911.0 Identify...
Included in Adams Company’s December 31, 2020, trial balance are the following accounts: Accounts Payable $220,000,...
Included in Adams Company’s December 31, 2020, trial balance are the following accounts: Accounts Payable $220,000, Pension Liability $375,000, Discount on Bonds Payable $29,000, Unearned Rent Revenue $41,000, Bonds Payable $400,000, Salaries and Wages Payable $27,000, Interest Payable $12,000, and Income Taxes Payable $29,000. Prepare the current liabilities section of the balance sheet.
Presented here are the accounts of Jesse Daniel Lawn Service for the year ended December 31,...
Presented here are the accounts of Jesse Daniel Lawn Service for the year ended December 31, 2018. The retained earnings account shows the $56,000 balance as of the end of 2017, which is the beginning balance for 2018. Land $6,000 Salaries Expense 63,000 Common Stock 30,000 Cash 3,200 Notes Payable 36,000 Salaries Payable 1,500 Accounts Payable 9,000 Equipment 12,000 Property Tax Expense 3,100 Service Revenue 185,000 Accounts Receivable 1,300 Insurance Expense 2,000 Dividends 30,000 Office Supplies 14,000 Advertising Expense 20,000...
Clear Water Co. reports the following balance sheet accounts as of December 31. Buildings Accounts receivable Land Merchandise inventory Accounts payable Cash Notes payable (due in 7 years) Office supplies 0.Water, Capital Wages payable $ 30,000 2,200 13,000 7,400 5,200 8,400 34,000 1,400 20,000 3,200 Required: Prepare a classified balance sheet. Clear Water Co. Balance Sheet December 31 Assets Current assets Total current assets Plant assets Total plant assets Total assets Liabilities Current liabilities Total current liabilities Long-term liabilities Total...
Brar Maintenance Company showed the following adjusted trial balance information for its December 31, 2020, year-end. Account Accounts payable Accounts receivable Accum. deprec., building Accum. deprec., machinery Allowance for doubtful accounts Building Cash Estimated warranty liabilities Income taxes payable Income tax expense Interest payable Balance1 Account $ 43,500 Interest receivable 37,800 Jake Brar, capital 364,000 Land 137,000 Machinery 2,900 Merchandise inventory 538,000 Notes payable? 20,100 Notes receivable, due 2021 12,100 Operating expenses 8,900 Prepaid rent 120,400 Revenue 710 Unearned revenue...
E10-15 Sanchez, Inc. reports the following liabilities (in thousands) on its December 31, 2017, balance sheet and notes to the financial statements. Prepare liabilities section of balance sheet. Accounts payable Accrued pension liability Unearned rent revenue Bonds payable Current portion of $4,263.9 Mortgage payable $6,746.7 (LO 4), AP 1,115.2 1,058.1 1,961.2 Operating leases Notes payable (due in 2020) Salaries and wages payable Notes payable (due in 2018)2,563.6 1,641.7 335.6 858.1 mortgage payable Income taxes payable 1,992.2 Unused operating line of...
Sage Hill Inc. reports the following liabilities (in thousands) on its December 31, 2020, balance sheet and notes to the financial statements. Accounts payable $5,235.0 Mortgage payable $7,407.0 Unearned rent revenue 1,458.0 Notes payable (due in 2023) 382.0 Bonds payable 2,146.0 Salaries and wages payable 561.0 Current portion of mortgage payable 2,303.0 Notes payable (due in 2021) 3,325.0 Prepare the liabilities section of Sage Hill's balance sheet as at December 31, 2020. SAGE HILL INC. Balance Sheet (Partial (in thousands)
Exercise 10-19 (Part Level Submission)
Marin, Inc. reports the following liabilities (in thousands) on its
December 31, 2022, balance sheet and notes to the financial
statements.
Accounts payable
$4,263.0
Mortgage payable
$6,746.0
Unearned rent revenue
1,058.0
Notes payable (due in 2025)
335.0
Bonds payable
1,953.0
Salaries and wages payable
858.0
Current portion of mortgage payable
1,992.0
Notes payable (due in 2023)
2,563.0
Income taxes payable
265.0
Warranty liability—current
1,417.0
*(b) Prepare the liabilities section of Marin's balance sheet as at...
list of accounts
Blossom Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows. Blossom Company Adjusted Trial Balance July 31, 2020 Account Titles No. Debit Credit $8,000 9,000 16,200 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 301 Owner's Capital 306 Owner's Drawings 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense Salaries and Wages...
Adams Co. reports the following balance sheet accounts as of December 31. $ Salaries payable Buildings Prepaid rent Merchandise inventory Accounts payable Prepaid insurance Accounts receivable Common stock 6,000 Retained earnings 55,000 Notes payable (due in 9 years) 7,000 office supplies 14,000 Land 10,000 Accumulated depreciation-Building 3,000 Mortgages payable (due in 5 years) 4,000 Cash 10,000 $ 50,000 30,000 2,000 22,000 5,000 12,000 16,000 Required: Prepare a classified balance sheet. (Amounts to be deducted should be indicated by a minus...
Exercise 10-15 Marin Inc. reports the following liabilities (in thousands) on its January 31, 2017, balance sheet and notes to the financial statements. $4,445.0 Mortgage payable 1,618.0 Operating leases 1,366.0 Notes payable (due in 2020) 2,102.0 Salaries and wages payable Accounts payable $6,750.0 2,493.0 Accrued pension liability Unearned rent revenue 360.0 590.0 Bonds payable Current portion of mortgage payable Income taxes payable 2,212.0 Notes payable (due in 2018) 278.0 Unused operating line of credit Warranty liability-current 2,985.0 3,500.0 1,911.0 Identify...
Presented here are the accounts of Jesse Daniel Lawn Service for the year ended December 31, 2018. The retained earnings account shows the $56,000 balance as of the end of 2017, which is the beginning balance for 2018. Land $6,000 Salaries Expense 63,000 Common Stock 30,000 Cash 3,200 Notes Payable 36,000 Salaries Payable 1,500 Accounts Payable 9,000 Equipment 12,000 Property Tax Expense 3,100 Service Revenue 185,000 Accounts Receivable 1,300 Insurance Expense 2,000 Dividends 30,000 Office Supplies 14,000 Advertising Expense 20,000...
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