Homework Answers
Correct option is: d. $185,000
Amount of assets to be classified as Investment = Land held for Investment = $185,000
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Cash $ 45,000 Accounts Payable 140,000 60,000 Prepaid Insurance 80,000 Salaries and Wages Payable Mortgage Payable...
Cash Prepaid Insurance $ 25,000 40,000 Accounts Payable Salaries and Wages Payable Mortgage Payable $ 60,000...
Cash Prepaid Insurance $ 25,000 40,000 Accounts Payable Salaries and Wages Payable Mortgage Payable $ 60,000 25,000 85,000 Total Liabilities 170,000 Accounts 50,000 Receivable Inventory 80,000 Land Held for 75,000 Investment Land 120,000 Building $110,000 Less Accumulated Depreciation (20,000) 90,000 Trademark 70,000 Total Assets $550,000 Owner's Capital 380,000 Total Liabilities and Owner's $550,000 Equity The total dollar amount of liabilities to be classified as current liabilities is O a) $60,000 Ob) $85,000. Oc) $25,000 d) $170,000.
The following information is for Qwik Auto Supplies: Qwik Auto Supplies Balance Sheet December 31, 2020...
The following information is for Qwik Auto Supplies: Qwik Auto Supplies Balance Sheet December 31, 2020 Cash $ 45,000 Accounts Payable 140,000 60,000 Prepaid Insurance 80,000 Salaries and Wages Payable Mortgage Payable 150,000 Total Liabilities 350,000 Accounts 110,000 Receivable Inventory 140,000 Land Held for 185,000 Investment Land 250,000 Building $200,000 Less Accumulated Depreciation (50,000) 150,000 Trademark 140,000 Total Assets $1,100,000 Owner's Capital 750,000 Total Liabilities and Owner's $1,100,000 Equity The total dollar amount of assets to be classified as investments...
1. These financial statement item are for UPS Company at fiscal year-end, October 31, 2019. ...
1. These financial statement item are for UPS Company at fiscal year-end, October 31, 2019. Salaries and wages payable $2,980 Notes payable (long-term) $3,000 Salaries and wages expense $45,700 Cash $5,200 Utilities expense $21,100 Account Receivable %9,780 Equipment $38,000 Accumulated depreciation $6,000 Accounts payable $4,100 Owner’s Drawings $4,000 Service Revenue $57,200 Depreciation expense $4,000 Rent revenue $6,500 Owner’s capital (beginning of the year) 48,000 Instructions: Prepare a classified balance sheet at October 31,...
Acme Auto Supplies Balance Sheet December 31, 2007 AS Assets Cash - $60,000 S Prepaid Insurance...
Acme Auto Supplies Balance Sheet December 31, 2007 AS Assets Cash - $60,000 S Prepaid Insurance - $40,000 Accounts Receivable - $50,000 Inventory - $70,000 Land held for investment - $80,000 Land - $95,000 Building - $100,000 Less: Accumulated Depreciation - ($30,000) Trademark - $70,000 Total Assets - $535,000 Liabilities Accounts Payable - $65,000 Salaries Payable - $10,000 Mortgage Payable - $90,000 Total Liabilities - $165,000 Stockholders' Equity Common Stock - $120,000 Retained Earnings - $250,000 Total Stockholders' Equity -...
1. Based on the following data, what is the amount of working capital? Accounts payable....................$32,000 Accounts...
1. Based on the following data, what is the amount of working capital? Accounts payable....................$32,000 Accounts receivable....................64,000 Accrued liabilities....................7,000 Cash.........................................20,000 Intangible assets............................40,000 Inventory...............................................72,000 Long-term investments...............................100,000 Long-term liabilities.....................................75,000 Marketable securities.................................35,000 Notes payable (short-term)........................20,000 Property, plant, and equipment.................625,000 Prepaid expenses.........................................2,000 WHAT IS WORKING CAPITAL? a. $162,000 b. $134,000 c. $193,000 d. $62,000 2. Use the following data to determine the total dollar amount of assets to be classified as current assets. Cash..............................................$60,000 Prepaid insurance..........................40,000 Accounts receivable......................50,000 Inventory.........................................70,000 Land held for investment................80,000 Land................................................95,000...
710 720 730 740 750 760 770 780 790 805 810 820) 836) 3465 850 866)...
710 720 730 740 750 760 770 780 790 805 810 820) 836) 3465 850 866) 370 380 390 904 QUESTION 4 The following information is for Bright Eyes Auto Supplies: Bright Eyes Auto Supplies Balance Sheet December 31, 2015 $ 130,000 50,000 150,000 330,000 Cash $ 40,000 Accounts Payable Prepaid Insurance 80,000 Salaries and Wages Payable Accounts Receivable 100,000 Mortgage Payable Inventory 140,000 Total Liabilities Land Held for Investment 180,000 Land 250,000 Buildings $200,000 Common Sock $400,000 Less Accumulated...
710 720 730 740 750 760 770780796) 305 816 826 830 840 850 860 870 880...
710 720 730 740 750 760 770780796) 305 816 826 830 840 850 860 870 880 890 900 910 920 930 QUESTION 2 The following information is for Bright Eyes Auto Supplies: Bright Eyes Auto Supplies Balance Sheet December 31, 2015 $ 130,000 50,000 150.000 330,000 740.000 Cash $ 40,000 Accounts Payable Prepaid Insurance 80,000 Salaries and Wages Payable Accounts Receivable 100,000 Mortgage Payable Inventory 140,000 Total Liabilities Land Held for Investment 180,000 Land 250,000 Buildings $200,000 Common Sock $400,000...
mba 5180 Preparing a Classified Balance Sheet From the following accounts, listed in alphabetical order, prepare...
mba
5180
Preparing a Classified Balance Sheet From the following accounts, listed in alphabetical order, prepare a classified balance sheet for Berkly Wholesalers as of December 31. $117,000 45,000 78,000 2,000 2 7,000 Accounts payable $43,000 Inventory Accounts receivable 40,000 Land Building 67,000 Mortgage payable (long term) Cash 26,000 Office supplies Common stock 111,000 Retained earnings Salaries payable Berkly Wholesalers Balance Sheet December 31, 2018 Assets Current Assets Cash 26,000 Accounts receivable 40,000 Inventory 117.000 Office supplies 2,000 Total Current...
Total dollar amount for PP&E? X Your answer is incorrect. The following information is for Skysong...
Total dollar amount for PP&E?
X Your answer is incorrect. The following information is for Skysong Auto Supplies: Skysong Auto Supplies Balance Sheet December 31, 2020 $ 41000 Accounts Payable 78000 Salaries and Wages Payable 98000 Mortgage Payable 142000 Total Liabilities 179000 250000 $ 132000 52000 155000 Cash Prepaid Insurance Accounts Receivable Inventory Land Held for Investment Land Buildings $197000 Less Accumulated Depreciation (64000) Trademark Total Assets 339000 Owner's Capital 719000 133000 137000 $1058000 Total Liabilities and Owner's Equity $1058000...
no exam wtf 17. The following information is for Central Avenue Real Estate: Central Avenue Real...
no exam wtf
17. The following information is for Central Avenue Real Estate: Central Avenue Real Estate Balance Sheet December 31, 2020 Accounts Payable Salaries and Wages Payable Mortgage Payable Total Liabilities $ 60,000 25,000 85,000 170,000 Cash $ 25,000 Prepaid Insurance 40,000 Accounts Receivable 50,000 Inventory 80,000 Land Held for Investment 75,000 Land 120,000 Building $110,000 Less Accumulated Depreciation (20,000) 90,000 Trademark Total Assets $550.000 Owner's Capital 380,000 70,000 Total Liabilities and Owner's Equity $550.000 The total dollar amount...
Cash Prepaid Insurance $ 25,000 40,000 Accounts Payable Salaries and Wages Payable Mortgage Payable $ 60,000 25,000 85,000 Total Liabilities 170,000 Accounts 50,000 Receivable Inventory 80,000 Land Held for 75,000 Investment Land 120,000 Building $110,000 Less Accumulated Depreciation (20,000) 90,000 Trademark 70,000 Total Assets $550,000 Owner's Capital 380,000 Total Liabilities and Owner's $550,000 Equity The total dollar amount of liabilities to be classified as current liabilities is O a) $60,000 Ob) $85,000. Oc) $25,000 d) $170,000.
The following information is for Qwik Auto Supplies: Qwik Auto Supplies Balance Sheet December 31, 2020 Cash $ 45,000 Accounts Payable 140,000 60,000 Prepaid Insurance 80,000 Salaries and Wages Payable Mortgage Payable 150,000 Total Liabilities 350,000 Accounts 110,000 Receivable Inventory 140,000 Land Held for 185,000 Investment Land 250,000 Building $200,000 Less Accumulated Depreciation (50,000) 150,000 Trademark 140,000 Total Assets $1,100,000 Owner's Capital 750,000 Total Liabilities and Owner's $1,100,000 Equity The total dollar amount of assets to be classified as investments...
Acme Auto Supplies Balance Sheet December 31, 2007 AS Assets Cash - $60,000 S Prepaid Insurance - $40,000 Accounts Receivable - $50,000 Inventory - $70,000 Land held for investment - $80,000 Land - $95,000 Building - $100,000 Less: Accumulated Depreciation - ($30,000) Trademark - $70,000 Total Assets - $535,000 Liabilities Accounts Payable - $65,000 Salaries Payable - $10,000 Mortgage Payable - $90,000 Total Liabilities - $165,000 Stockholders' Equity Common Stock - $120,000 Retained Earnings - $250,000 Total Stockholders' Equity -...
710 720 730 740 750 760 770 780 790 805 810 820) 836) 3465 850 866) 370 380 390 904 QUESTION 4 The following information is for Bright Eyes Auto Supplies: Bright Eyes Auto Supplies Balance Sheet December 31, 2015 $ 130,000 50,000 150,000 330,000 Cash $ 40,000 Accounts Payable Prepaid Insurance 80,000 Salaries and Wages Payable Accounts Receivable 100,000 Mortgage Payable Inventory 140,000 Total Liabilities Land Held for Investment 180,000 Land 250,000 Buildings $200,000 Common Sock $400,000 Less Accumulated...
710 720 730 740 750 760 770780796) 305 816 826 830 840 850 860 870 880 890 900 910 920 930 QUESTION 2 The following information is for Bright Eyes Auto Supplies: Bright Eyes Auto Supplies Balance Sheet December 31, 2015 $ 130,000 50,000 150.000 330,000 740.000 Cash $ 40,000 Accounts Payable Prepaid Insurance 80,000 Salaries and Wages Payable Accounts Receivable 100,000 Mortgage Payable Inventory 140,000 Total Liabilities Land Held for Investment 180,000 Land 250,000 Buildings $200,000 Common Sock $400,000...
mba
5180
Preparing a Classified Balance Sheet From the following accounts, listed in alphabetical order, prepare a classified balance sheet for Berkly Wholesalers as of December 31. $117,000 45,000 78,000 2,000 2 7,000 Accounts payable $43,000 Inventory Accounts receivable 40,000 Land Building 67,000 Mortgage payable (long term) Cash 26,000 Office supplies Common stock 111,000 Retained earnings Salaries payable Berkly Wholesalers Balance Sheet December 31, 2018 Assets Current Assets Cash 26,000 Accounts receivable 40,000 Inventory 117.000 Office supplies 2,000 Total Current...
Total dollar amount for PP&E?
X Your answer is incorrect. The following information is for Skysong Auto Supplies: Skysong Auto Supplies Balance Sheet December 31, 2020 $ 41000 Accounts Payable 78000 Salaries and Wages Payable 98000 Mortgage Payable 142000 Total Liabilities 179000 250000 $ 132000 52000 155000 Cash Prepaid Insurance Accounts Receivable Inventory Land Held for Investment Land Buildings $197000 Less Accumulated Depreciation (64000) Trademark Total Assets 339000 Owner's Capital 719000 133000 137000 $1058000 Total Liabilities and Owner's Equity $1058000...
no exam wtf
17. The following information is for Central Avenue Real Estate: Central Avenue Real Estate Balance Sheet December 31, 2020 Accounts Payable Salaries and Wages Payable Mortgage Payable Total Liabilities $ 60,000 25,000 85,000 170,000 Cash $ 25,000 Prepaid Insurance 40,000 Accounts Receivable 50,000 Inventory 80,000 Land Held for Investment 75,000 Land 120,000 Building $110,000 Less Accumulated Depreciation (20,000) 90,000 Trademark Total Assets $550.000 Owner's Capital 380,000 70,000 Total Liabilities and Owner's Equity $550.000 The total dollar amount...
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