Homework Answers
1)
C) Order of their liquidity
2)
D) Reduction of stockholers’ equity
3)
Current assets are those assets which can be converted into cash with in 12 months.
A) Inventory back into cash, or 12 months, which ever is shorter
Option A,B and C are not correct because it is given as Longer.
4)
A) 1. Trading securities at market value.
Option 2 abd 3 are not correct due to,
Accounts receivables are valued at carrying amount less any doubtful debts.
Inventories are valued at lower of cost and net realizable value
5)
C) Capital stock, additional paid-in capital, retained earnings.
Option A and B are not correct because of preferred stock and common stock are part of Capital stock.
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1. Current assets are presented in the balance sheet in A) ascending order of their balances....
The correct order to present current assets is اختر أحد الخيارات .a. C. Cash, inventories, accounts...
The correct order to present current assets is اختر أحد الخيارات .a. C. Cash, inventories, accounts receivable, prepaid items O .b. A. Cash, accounts receivable, prepaid items, inventories o .c. B. Cash, accounts receivable, inventories, prepaid items O .d. D. Cash, inventories, prepaid items, accounts receivable O Craig Rusch Corporation reports the following information Net income $500,000 Dividends on common stock 140,000 Dividends on preferred stock 60,000 Weighted average common shares outstanding 100,000 Rusch should report earnings per share of...
Respondus LockDown Browser Question 4 4 pts Select the option that reflects the three parts that...
Respondus LockDown Browser Question 4 4 pts Select the option that reflects the three parts that the stockholders' equity section is typically divided into O b. Preferred stock, common stock, retained earnings O d. Capital stock, appropriated retained earnings, unappropriated retained earnings O c. Capital stock, additional paid-in capital, retained earnings O a. Preferred stock, common stock, treasury stock
Niew Policies Current Attempt in Progress The following accounts appeared on the trail balance of Sunland...
Niew Policies Current Attempt in Progress The following accounts appeared on the trail balance of Sunland Company at December 31, 2020, $195,000 670,000 38,000 29.000 300.000 Notes Payable (short-term) Accumulated Depreciation - Bldg. Supplies Salaries and Wages Payable Debt Investments (long-term) Cash Bonds Payable Due 1/1/2028 Allowance for Doubtful Accts. Copyrights Notes Receivable (due in 6 months) Income Taxes Payable Preferred Stock Appropriated Retained Earnings 170,000 1,300,000 Accounts Receivable Prepaid Insurance Common Stock Unappropriated Retained Earnings Inventory Land Trading Securities...
Problem 1 - Balance sheet computations. The following accounts appeared on the trail balance of Elbert...
Problem 1 - Balance sheet computations. The following accounts appeared on the trail balance of Elbert Company at December 31, 2017 Salaries and Wages Payable Debt Investments (long-term) Cash Bonds Payable Due 1/1/2025 Allowance for Doubtful Accts. Copyrights Notes Receivable (due in 6 months) Income Taxes Payable Preferred Stock Appropriated Retained Earnings Accounts Receivable Prepaid Insurance 34,200 Common Stock 281,400 Unappropriated Retained Earnings 170,250 Inventory 1,200,000 Land 17.800 Trading Securities 192,900 Interest Payable 138,000 Buildings 156,000 Accounts Payable Additional Paid-in...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows: Current Assets...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows: Current Assets Liabilities Cash $ 19,000 Accounts payable $ 21,000 Accounts receivable 24,000 Notes payable 29,000 Inventory 34,000 Bonds payable 59,000 Prepaid expenses 12,900 Fixed Assets Stockholders’ Equity Gross plant and equipment $ 259,000 Preferred stock $ 29,000 Less: Accumulated depreciation 51,800 Common stock 64,000 Paid in Capital 34,000 Net plant and equipment $ 207,200 Retained earnings 61,100 Total assets $ 297,100 Total liabilities and stockholders’...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows Current Assets Liabilities...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows Current Assets Liabilities Cash Accounts receivable Inventory Prepaid expenses $ 22,000 30,000 60,000 S 20,000 Accounts payable 25,000 Notes payable 35,000 Bonds payable 13,000 Fixed Assets Stockholders' Equity $ 30,000 65,000 35,000 59,000 $301,000 Gross plant and equipment Less: Accumulated depreciation $ 260,000 Preferred stock 52,000 Common stock SA Paid in Capital $ 208,000Retained earnings Net plant and equipment Total assets 301,000 Total liabilities and stockholders' equity...
please , are these answers correct ? 3. Current assets are presented in the balance sheet...
please , are these answers correct ?
3. Current assets are presented in the balance sheet in ascending order of their balances. Tal [bJ descending order of their balances. order of their liquidity. [c] [d] reverse order of their liquidity. 4. The statement of cash flows reports all of the following EXCEPT [a] the net change in cash for the period. [b] the cash effects of operations during the period. [c] the free cash flows generated during the period. [d]...
The Stockholders' Equity section of the balance sheets for Klee Corporation on December 31, 2018, and...
The Stockholders' Equity section of the balance sheets for Klee Corporation on December 31, 2018, and December 31, 2019. along with other selected account balances on the two dates is provided below. (Certain information is missing from the statements.) In 2019, the following transactions affecting equity occurred: a. Additional shares of common stock were issued in April. No other common stock was issued during the year. b. A cash dividend of $1 per share was declared and paid on common...
For December 31, 20X1. the balance sheet of Baxter Corporation was as follows: Current Assets Cash...
For December 31, 20X1. the balance sheet of Baxter Corporation was as follows: Current Assets Cash Accounts receivable Inventory Prepaid expenses Fixed Assets Gross plant and equipment Less: Accumulated depreciation $ 25,000 33,000 63,000 Liabilities $ 23,000 Accounts payable 28,000 Notes payable 38,000 Bonds payable 13,300 Stockholders' Equity $ 263,000 Preferred stock 52,600 Common stock Paid in Capital $ 210,480 Retained earnings $ 312,700 Total liabilities and stockholders' equity Net plant and equipment Total assets $ 33,000 68,000 38,000 52,700...
4 The Stockholders' Equity section of the balance sheets for Klee Corporation on December 31, 2018,...
4 The Stockholders' Equity section of the balance sheets for Klee Corporation on December 31, 2018, and December 31, 2019, along with other selected account balances on the two dates is provided below. Certain information is missing from the statements.) In 2019, the following transactions affecting equity occurred: 10 points 0. Additional shares of common stock were issued in April. No other common stock was issued during the year. b. A cash dividend of $1 per share was declared and...
The correct order to present current assets is اختر أحد الخيارات .a. C. Cash, inventories, accounts receivable, prepaid items O .b. A. Cash, accounts receivable, prepaid items, inventories o .c. B. Cash, accounts receivable, inventories, prepaid items O .d. D. Cash, inventories, prepaid items, accounts receivable O Craig Rusch Corporation reports the following information Net income $500,000 Dividends on common stock 140,000 Dividends on preferred stock 60,000 Weighted average common shares outstanding 100,000 Rusch should report earnings per share of...
Respondus LockDown Browser Question 4 4 pts Select the option that reflects the three parts that the stockholders' equity section is typically divided into O b. Preferred stock, common stock, retained earnings O d. Capital stock, appropriated retained earnings, unappropriated retained earnings O c. Capital stock, additional paid-in capital, retained earnings O a. Preferred stock, common stock, treasury stock
Niew Policies Current Attempt in Progress The following accounts appeared on the trail balance of Sunland Company at December 31, 2020, $195,000 670,000 38,000 29.000 300.000 Notes Payable (short-term) Accumulated Depreciation - Bldg. Supplies Salaries and Wages Payable Debt Investments (long-term) Cash Bonds Payable Due 1/1/2028 Allowance for Doubtful Accts. Copyrights Notes Receivable (due in 6 months) Income Taxes Payable Preferred Stock Appropriated Retained Earnings 170,000 1,300,000 Accounts Receivable Prepaid Insurance Common Stock Unappropriated Retained Earnings Inventory Land Trading Securities...
Problem 1 - Balance sheet computations. The following accounts appeared on the trail balance of Elbert Company at December 31, 2017 Salaries and Wages Payable Debt Investments (long-term) Cash Bonds Payable Due 1/1/2025 Allowance for Doubtful Accts. Copyrights Notes Receivable (due in 6 months) Income Taxes Payable Preferred Stock Appropriated Retained Earnings Accounts Receivable Prepaid Insurance 34,200 Common Stock 281,400 Unappropriated Retained Earnings 170,250 Inventory 1,200,000 Land 17.800 Trading Securities 192,900 Interest Payable 138,000 Buildings 156,000 Accounts Payable Additional Paid-in...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows Current Assets Liabilities Cash Accounts receivable Inventory Prepaid expenses $ 22,000 30,000 60,000 S 20,000 Accounts payable 25,000 Notes payable 35,000 Bonds payable 13,000 Fixed Assets Stockholders' Equity $ 30,000 65,000 35,000 59,000 $301,000 Gross plant and equipment Less: Accumulated depreciation $ 260,000 Preferred stock 52,000 Common stock SA Paid in Capital $ 208,000Retained earnings Net plant and equipment Total assets 301,000 Total liabilities and stockholders' equity...
please , are these answers correct ?
3. Current assets are presented in the balance sheet in ascending order of their balances. Tal [bJ descending order of their balances. order of their liquidity. [c] [d] reverse order of their liquidity. 4. The statement of cash flows reports all of the following EXCEPT [a] the net change in cash for the period. [b] the cash effects of operations during the period. [c] the free cash flows generated during the period. [d]...
The Stockholders' Equity section of the balance sheets for Klee Corporation on December 31, 2018, and December 31, 2019. along with other selected account balances on the two dates is provided below. (Certain information is missing from the statements.) In 2019, the following transactions affecting equity occurred: a. Additional shares of common stock were issued in April. No other common stock was issued during the year. b. A cash dividend of $1 per share was declared and paid on common...
For December 31, 20X1. the balance sheet of Baxter Corporation was as follows: Current Assets Cash Accounts receivable Inventory Prepaid expenses Fixed Assets Gross plant and equipment Less: Accumulated depreciation $ 25,000 33,000 63,000 Liabilities $ 23,000 Accounts payable 28,000 Notes payable 38,000 Bonds payable 13,300 Stockholders' Equity $ 263,000 Preferred stock 52,600 Common stock Paid in Capital $ 210,480 Retained earnings $ 312,700 Total liabilities and stockholders' equity Net plant and equipment Total assets $ 33,000 68,000 38,000 52,700...
4 The Stockholders' Equity section of the balance sheets for Klee Corporation on December 31, 2018, and December 31, 2019, along with other selected account balances on the two dates is provided below. Certain information is missing from the statements.) In 2019, the following transactions affecting equity occurred: 10 points 0. Additional shares of common stock were issued in April. No other common stock was issued during the year. b. A cash dividend of $1 per share was declared and...
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