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Problem 5-4 Presented below is the balance sheet of Bramble Corporation as of December 31, 2017....
Presented below is the balance sheet of Blue Corporation as of December 31, 2017. BLUE CORPORATION BALANCE SHEET DECEMBER 31, 2017 Assets Goodwill (Note 2) $ 122,580 Buildings (Note 1)...
Presented below is the balance sheet of Blue Corporation as of December 31, 2017. BLUE CORPORATION BALANCE SHEET DECEMBER 31, 2017 Assets Goodwill (Note 2) $ 122,580 Buildings (Note 1) 1,640,000 Inventory 314,680 Land 950,000 Accounts receivable 172,580 Treasury stock (50,000 shares) 89,580 Cash on hand 178,480 Assets allocated to trustee for plant expansion Cash in bank 72,580 Debt investments (held-to-maturity) 140,580 $3,681,060 Equities Notes payable (Note 3) $ 602,580 Common stock, authorized and issued, 1,000,000 shares, no par 1,152,580...
Exercise 5-12 Presented below is the trial balance of Nash Corporation at December 31, 2020. Debit...
Exercise 5-12 Presented below is the trial balance of Nash Corporation at December 31, 2020. Debit Credit Cash $ 199,800 $ 8,102,570 Sales Debt Investments (trading) (at cost, $145,000) Cost of Goods Sold Debt Investments (long-term) Equity Investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue 155,570 4,800,000 301,800 279,800 92,570 457,570 2,002,570 64,380 Land 262,570 1,042,800 Buildings Dividends Payable Accrued Liabilities 138,800 98,570 Accounts Receivable 437,570 152,000 27,570 Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest...
Presented below is the trial balance of Wildhorse Corporation at December 31, 2017. Cash Sales Debt...
Presented below is the trial balance of Wildhorse Corporation at
December 31, 2017.
Cash Sales Debt Investments (trading) (cost, $145,000) Cost of Goods Sold Debt Investments (long-term) Equity Investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory Gain (extraordinary) Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation-Equipment Franchises Common Stock ($5 par) Treasury Stock Patents Retained Earnings Paid-in Capital...
KISHWAUKEE CORPORATION BALANCE SHEET DECEMBER 31, 2012 Assets Goodwill (Note 2) Buildings (Note 1) Inventory Land...
KISHWAUKEE CORPORATION BALANCE SHEET DECEMBER 31, 2012 Assets Goodwill (Note 2) Buildings (Note 1) Inventory Land Accounts receivable Treasury stock (50,000 shares) Cash on hand Assets allocated to trustee for plant expansion Cash in bank Debt investments (held-to-maturity) $ 120,000 1,640,000 312,100 950,000 170,000 87,000 175,900 70,000 138,000 $3,663,000 Equities Notes payable (Note 3) Common stock, authorized and issued, 1,000,000 shares, no par Retained earnings Appreciation capital (Note 1) Income tax payable Reserve for depreciation recorded to date on the...
resented below is the balance sheet of Bramble Corporation for the current year, 2020. BRAMBLE CORPORATION...
resented below is the balance sheet of Bramble Corporation for the current year, 2020. BRAMBLE CORPORATION BALANCE SHEET DECEMBER 31, 2020 Current assets $ 489,050 Current liabilities $ 384,050 Investments 644,050 Long-term liabilities 1,004,050 Property, plant, and equipment 1,724,050 Stockholders’ equity 1,774,050 Intangible assets 305,000 $3,162,150 $3,162,150 The following information is presented. 1. The current assets section includes cash $154,050, accounts receivable $174,050 less $14,050 for allowance for doubtful accounts, inventories $184,050, and unearned rent revenue $9,050. Inventory is stated on the...
Preston Media Corporation Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets $ Current...
Preston Media Corporation Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets $ Current Assets: Cash Accounts Receivable Long-term Assets: Plants Assets 5,000 $ 9,600 3,900 5,100 Accumulated Depreciation—Plant Assets 105,350 84,350 (29,350) (18,350) 90,600 $ 75,000 $ Total Assets Liabilities Current Liabilities: Accounts Payable $ 8,000 $ 4,500 Long-term Liabilities: 9,000 12,000 17,000 16,500 Notes Payable Total Liabilities Stockholders' Equity Common Stock, no par Retained Earnings 27,000 46,600 73,600 90,600 $ 23,000 35,500 58,500 75,000 Total Stockholders'...
ES Question 6 Presented below is the trial balance of Carla Corporation at December 31, 2017....
ES Question 6 Presented below is the trial balance of Carla Corporation at December 31, 2017. Debit Credit $199,850 Cash Sales Debt Investments (trading) (cost, $145,000) Cost of Goods Sold $8,103,200 156,200 4,800,000 301,850 279,850 Debt Investments (Iong-term) Equity Investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory Gain (extraordinary) 93,200 458,200 2,003,200 67,270 263,200 1,042,850 138,850 99,200 438,200...
Question 6 Presented below is the trial balance of Carla Corporation at December 31, 2017. Debit...
Question 6 Presented below is the trial balance of Carla Corporation at December 31, 2017. Debit Credit Cash 199,850 Sales Debt Investments (trading) (cost, $145,000) Cost of Goods Sold Debt Investments (long-term) Equity investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory Gain (extraordinary) Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation-Equipment Franchises Common Stock ($5 par) Treasury Stock...
Presented below is the balance sheet of Sargent Corporation for the current year, 2017. WILDHORSE CORPORATION...
Presented below is the balance sheet of Sargent Corporation for the current year, 2017. WILDHORSE CORPORATION BALANCE SHEET DECEMBER 31, 2017 Current assets $ 486,290 Current liabilities $ 381,290 Investments 641,290 Long-term liabilities 1,001,290 Property, plant, and equipment 1,721,290 Stockholders’ equity 1,771,290 Intangible assets 305,000 $3,153,870 $3,153,870 The following information is presented. 1. The current assets section includes cash $151,290, accounts receivable $171,290 less $11,290 for allowance for doubtful accounts, inventories $181,290, and unearned rent revenue $6,290. Inventory is stated on the...
The December 31, 2021, past-closing trial balance for Strong Corporation is presented below: Credit Debit $...
The December 31, 2021, past-closing trial balance for Strong Corporation is presented below: Credit Debit $ 22,500 22,700 4,600 180,000 56,000 42,000 277,000 8 00:37:07 Accounts Cash Accounts receivable Prepaid insurance Supplies Long-Term Investments Land Buildings Accumulated depreciation Accounts payable Notes payable, due 2022 Interest payable Notes payable, due 2031 Common stock Retained earnings Totals 88,000 37,700 69,000 15,000 128,000 200.000 67,100 $604,800 $604,800 Prepare a classified balance sheet for Strong Corporation at December 31, 2021. (Amounts to be deducted...
Exercise 5-12 Presented below is the trial balance of Nash Corporation at December 31, 2020. Debit Credit Cash $ 199,800 $ 8,102,570 Sales Debt Investments (trading) (at cost, $145,000) Cost of Goods Sold Debt Investments (long-term) Equity Investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue 155,570 4,800,000 301,800 279,800 92,570 457,570 2,002,570 64,380 Land 262,570 1,042,800 Buildings Dividends Payable Accrued Liabilities 138,800 98,570 Accounts Receivable 437,570 152,000 27,570 Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest...
Presented below is the trial balance of Wildhorse Corporation at
December 31, 2017.
Cash Sales Debt Investments (trading) (cost, $145,000) Cost of Goods Sold Debt Investments (long-term) Equity Investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory Gain (extraordinary) Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation-Equipment Franchises Common Stock ($5 par) Treasury Stock Patents Retained Earnings Paid-in Capital...
KISHWAUKEE CORPORATION BALANCE SHEET DECEMBER 31, 2012 Assets Goodwill (Note 2) Buildings (Note 1) Inventory Land Accounts receivable Treasury stock (50,000 shares) Cash on hand Assets allocated to trustee for plant expansion Cash in bank Debt investments (held-to-maturity) $ 120,000 1,640,000 312,100 950,000 170,000 87,000 175,900 70,000 138,000 $3,663,000 Equities Notes payable (Note 3) Common stock, authorized and issued, 1,000,000 shares, no par Retained earnings Appreciation capital (Note 1) Income tax payable Reserve for depreciation recorded to date on the...
Preston Media Corporation Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets $ Current Assets: Cash Accounts Receivable Long-term Assets: Plants Assets 5,000 $ 9,600 3,900 5,100 Accumulated Depreciation—Plant Assets 105,350 84,350 (29,350) (18,350) 90,600 $ 75,000 $ Total Assets Liabilities Current Liabilities: Accounts Payable $ 8,000 $ 4,500 Long-term Liabilities: 9,000 12,000 17,000 16,500 Notes Payable Total Liabilities Stockholders' Equity Common Stock, no par Retained Earnings 27,000 46,600 73,600 90,600 $ 23,000 35,500 58,500 75,000 Total Stockholders'...
ES Question 6 Presented below is the trial balance of Carla Corporation at December 31, 2017. Debit Credit $199,850 Cash Sales Debt Investments (trading) (cost, $145,000) Cost of Goods Sold $8,103,200 156,200 4,800,000 301,850 279,850 Debt Investments (Iong-term) Equity Investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory Gain (extraordinary) 93,200 458,200 2,003,200 67,270 263,200 1,042,850 138,850 99,200 438,200...
Question 6 Presented below is the trial balance of Carla Corporation at December 31, 2017. Debit Credit Cash 199,850 Sales Debt Investments (trading) (cost, $145,000) Cost of Goods Sold Debt Investments (long-term) Equity investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory Gain (extraordinary) Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation-Equipment Franchises Common Stock ($5 par) Treasury Stock...
The December 31, 2021, past-closing trial balance for Strong Corporation is presented below: Credit Debit $ 22,500 22,700 4,600 180,000 56,000 42,000 277,000 8 00:37:07 Accounts Cash Accounts receivable Prepaid insurance Supplies Long-Term Investments Land Buildings Accumulated depreciation Accounts payable Notes payable, due 2022 Interest payable Notes payable, due 2031 Common stock Retained earnings Totals 88,000 37,700 69,000 15,000 128,000 200.000 67,100 $604,800 $604,800 Prepare a classified balance sheet for Strong Corporation at December 31, 2021. (Amounts to be deducted...
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