Ivanhoe Company Comparative Balance Sheets December 31 Assets 2017 2016 Cash Accounts receivable Inventory Land Equipment...
Velo Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $72,800 $33,200 Accounts receivable 86,500 70,700 Inventory 170,200 187,000 Land 72,700 100,700 Equipment 260,700 200,600 Accumulated depreciation—equipment (65,700 ) (33,500 ) Total $597,200 $558,700 Liabilities and Stockholders’ Equity Accounts payable $35,400 $46,500 Bonds payable 149,800 203,300 Common stock ($1 par) 218,000 173,000 Retained earnings 194,000 135,900 Total $597,200 $558,700 Additional information: 1. Net income for 2020 was $103,600. 2. Cash dividends of $45,500 were declared and paid. 3. Bonds...
Here are comparative balance sheets for Velo Company. Velo Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $72,800 $33,200 Accounts receivable 86,500 70,700 Inventory 170,200 187,000 Land 72,700 100,700 Equipment 260,700 200,600 Accumulated depreciation—equipment (65,700 ) (33,500 ) Total $597,200 $558,700 Liabilities and Stockholders’ Equity Accounts payable $35,400 $46,500 Bonds payable 149,800 203,300 Common stock ($1 par) 218,000 173,000 Retained earnings 194,000 135,900 Total $597,200 $558,700 Additional information: 1. Net income for 2020 was $103,600. 2. Cash dividends...
Velo Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $72,800 $33,200 Accounts receivable 86,500 70,700 Inventory 170,200 187,000 Land 72,700 100,700 Equipment 260,700 200,600 Accumulated depreciation—equipment (65,700 ) (33,500 ) Total $597,200 $558,700 Liabilities and Stockholders’ Equity Accounts payable $35,400 $46,500 Bonds payable 149,800 203,300 Common stock ($1 par) 218,000 173,000 Retained earnings 194,000 135,900 Total $597,200 $558,700 Additional information: 1. Net income for 2020 was $103,600. 2. Cash dividends of $45,500 were declared and paid. 3. Bonds...
Spicer Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Total 2017 2016 $ 45,000 58,000 142,000 21,000 130,000 200,000 68,000 50,000 151,450 15,280 145,000 200,000 (60,000) (40,000) 225,000 (45,000) (35,000) 155,000 $749,730 $676,000 Liabilities and Stockholders Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings Total $44,730 300,000 200,000 205,000 749,730 $676,000 $ 36,000 300,000 160,000 180,000 Additional information: 1. Operating expenses include depreciation expense of...
Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2020 2019 $ 72,730 $ 22,000 84,480 68,750 182,480 191,750 73,480 112,750 262,480 202,750 (71,480) (44,750) $604,170 $553,250 $36,480 150,000 214,000 203,690 $604,170 $ 49,750 200,000 164,000 139,500 $553,250 Additional information: 1. Net income for 2020 was $129,960. No gains or losses were recorded in 2020. Cash dividends of $65,770 were declared and...
Exercise 17-8 Here are comparative balance sheets for Velo Company. VELO COMPANY Comparative Balance Sheets December 31 Assets 2017 2016 Cash $73,400 $33,100 Accounts receivable 85,800 71,200 Inventory 170,200 187,000 Land 72,800 101,000 Equipment 260,600 200,800 Accumulated depreciation -equipment (66,100) (33,900) Total $596,700 $559,200 Liabilities and Stockholders' Equity Accounts payable $35,000 $47,500 Bonds payable 151,400 203,400 Common stock ($1 par) 217,600 174,100 Retained earnings 192,700 134,200 Total $596,700 $559,200 Additional information: 1. Net income for 2017 was $103,600. 2. Cash...
MARZANO COMPANY Comparative Balance Sheets December 31 Assets 2017 Cash $ 63,000 Accounts receivable 88,000 Inventory 167,000 Land 80,000 Equipment 265,000 Accumulated depreciation-equipment (66,000) Total $597,000 Change 40,000 12.000 O, I or F Step #3 0 2016 $22,000 76,000 189,000 100,000 200,000 (32,000) $555,000 122,000) o (20, 000) I 65.000 I 34,000 0 0 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total $34,000 150,000 221,000 192,000 $597,000 $43,000 (9000) 200,000 (50,000) 174,000 (47,...
A comparative balance sheet for Talkington Corporation is presented below. December 31 Assets 2017 2016 Cash Accounts receivable $ 68,100 $ 21,600 Inventory 82,800 33,000 Land 170,200 83,800 Equipment 71,400 74,000 Accumulated depreciation–equipment 280,500 212,400 Total (74,000) (42,000) $597,000 $545,000 Liabilities and Stockholders’ Equity Accounts payable $ 34,000 $ 47,000 Bonds payable 150,000 200,000 Common stock ($1 par) 164,000 164,000 Retained earnings 249,000 134,000 Total $597,000 $545,000 Additional information: 1. Net income for 2017 was $155,000; there were no gains...
*Exercise 17-9 Rodriquez Corporation's comparative balance sheets are presented below. RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 2017 2016 $16,600 24,900 Cash Accounts receivable Investments Equipment Accumulated depreciation-equipment Total 20,250 59,750 $17,700 22,500 16,150 70,150 (10,100) $116,400 (13,750 ) $107,750 Accounts payable Bonds payable Common stock Retained earnings Total $14,650 10.800 50,500 31,800 $107,750 $11,050 30,100 44,600 30,650 $116,400 Additional information: 1. Net income was $18,650. Dividends declared and paid were $17,500. 2. Equipment which cost $10,400 and had accumulated...
Pharoah Company Comparative Balance Sheets December 31 Assets 2022 $177,760 2021 $ 106,480 Cash Accounts receivable 193,160 83,600 Inventory 247,500 226,270 Prepaid expenses 62,480 57,200 Long-term investments 303,600 239,800 Plant assets 627,000 533,500 Accumulated depreciation (110,000) (114,400 ) Total $1,501,500 $1,132,450 Liabilities and Stockholders' Equity Accounts payable $ 224,400 $ 148,060 Accrued expenses payable 36,300 46,200 Bonds payable 242,000 300 321,200 000 Common stock 484,000 385,000 Retained earnings 514,800 231,990 Total $1,501,500 $1,132,450 Pharoah Company Income Statement Data For the...