Homework Answers
| Balance sheet | ||
| Assets | ||
| Current Assets | ||
| Cash | 22500 | |
| Accounts receivable | 22500 | |
| Prepaid insurance | 4500 | |
| Supplies | 100000 | |
| total current assets | 149500 | |
| Long term investments | ||
| Investments | 55000 | |
| Plant, Property and Euipment | ||
| Land | 45000 | |
| Building | 277500 | |
| Less:Accumulated depreciation | -80000 | 242500 |
| total assets | 447000 | |
| Current Liabilties | ||
| Accounts payable | 37500 | |
| Notes payable,due 2013 | 65000 | |
| Interest payable | 10000 | |
| total current liabilities | 112500 | |
| Long term liabilties | ||
| Notes payable,due 2025 | 120000 | |
| total liabilties | 232500 | |
| Stockholders equity | ||
| common stock | 150000 | |
| retained earnings | 64500 | |
| total Stockholders equity | 214500 | |
| total liabilites & equity | 447000 | |
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The December 31, 2012, post-closing trial balance for Strong Corporation is presented below: Credits Debits $...
WCC Financial Accounting Mid-Term FM: NO (10) 1. Prepare a classified balance sheet for MARK Corporation...
WCC Financial Accounting Mid-Term FM: NO (10) 1. Prepare a classified balance sheet for MARK Corporation at December 31, 2019. Credits Debits 22.500 55.000 22.500 4.500 100.000 45.000 277.500 Cash Investments Accounts Receivable Prepaid Insurance Supplies Land Buildings Accumulated Depreciation Accounts Payable Notes Payable, due 2013 Interest Payable Notes Payable, due 2025 Common Stock Retained Earnings Totals 80.000 37,500 65.000 10.000 120.000 150,000 64.500 $527,000 $527,000
Wolod bo92919 i SIOSTE todmsos 16 Yaequo fobrio Y Toilortalidah bteu bodo 164. The December 31,...
Wolod bo92919 i SIOSTE todmsos 16 Yaequo fobrio Y Toilortalidah bteu bodo 164. The December 31, 2012, post-closing trial balance for Strong Corporation is presented below: Tids 000.8 000. Debits Credits Cash 000 $ 22,500 Investments 000.00 55,000 oldisn' Accounts Receivable 00011 22,500 Prepaid Insurance 000025 4,500 olomo Supplies 100,000 agnum bols Land borvid Buildings 000,02 277,500 unos Accumulated Depreciation 000.00 80,000 Accounts Payable 000.15 37,500 basqa Notes Payable, due 2013 65,000 an Interest Payable 000 10,000 indot Notes Payable,...
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 $604,800 Prepare a classified balance sheet for Strong Corporation at December 31, 2021. (Amounts to be deducted...
The December 31, 2021, post-closing trial balance ($ in thousands) for Libby Corporation is presented below:...
The December 31, 2021, post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Credits Debits 27,500 65,000 40,000 8,500 4,000 150,000 55,000 190,000 60,000 Cash Investments (long-term) Accounts receivable Allowance for uncollectible accounts Prepaid insurance Inventory Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Patents (unamortized balance) ccounts payable Notes payable, due 2022 Interest payable Bonds payable, due 2031 Common stock (no par), 33,000 shares authorized, issued, and outstanding Retained earnings Totals 147,500 40,000 4,500 42,500 75,000...
The following is a December 31, 2021, post-closing trial balance for the Jackson Corporation. Credits Debits...
The following is a December 31, 2021, post-closing trial balance for the Jackson Corporation. Credits Debits $ 44,000 38,000 79,000 20,000 14,000 165,000 $ 15,000 Account Title Cash Accounts receivable Inventory Prepaid rent (for the next 8 months) Investment in equity securities (short term) Machinery Accumulated depreciation Patent (net) Accounts payable Salaries payable Income taxes payable Bonds payable (due in 10 years) Common stock Retained earnings Totals 83,000 10,000 6,000 36,000 180,000 140,000 56,000 $443,000 3,000 Required: Prepare a classified...
The following is a December 31, 2021, post-closing trial balance for Almway Corporation. Account Title Debits...
The following is a December 31, 2021, post-closing trial balance for Almway Corporation. Account Title Debits Credits Cash $ 45,000 Investment in equity securities 110,000 Accounts receivable 60,000 Inventory 200,000 Prepaid insurance (for the next 9 months) 9,000 Land 90,000 Buildings 420,000 Accumulated depreciation—buildings $ 100,000 Equipment 110,000 Accumulated depreciation—equipment 60,000 Patent (net) 10,000 Accounts payable 75,000 Notes payable 130,000 Interest payable 20,000 Bonds Payable 240,000 Common stock 300,000 Retained earnings 129,000 Totals $ 1,054,000 $ 1,054,000 Additional information: The...
The following is a December 31, 2018, post-closing trial balance for Almway Corporation. Account Title Debits...
The following is a December 31, 2018, post-closing trial balance for Almway Corporation. Account Title Debits Credits Cash 45,000 Investments 110,000 Accounts receivable 60,000 Inventories 200,000 Prepaid insurance (for the next 9 months) 9,000 Land 90,000 Buildings 420,000 Accumulated depreciation—buildings 100,000 Equipment 110,000 Accumulated depreciation—equipment 60,000 Patents (net of amortization) 10,000 Accounts payable 75,000 Notes payable 130,000 Interest payable 20,000 Bonds Payable 240,000 Common stock 300,000 Retained earnings 129,000 Totals 1,054,000 1,054,000 Additional information: The investment account includes an investment...
The following is a December 31, 2021, post-closing trial balance for Almway Corporation. Account Title Debits...
The following is a December 31, 2021, post-closing trial balance for Almway Corporation. Account Title Debits Credits Cash $ 45,000 Investment in equity securities 110,000 Accounts receivable 60,000 Inventory 200,000 Prepaid insurance (for the next 9 months) 9,000 Land 90,000 420,000 Buildings Accumulated depreciation-buildings $ 100,000 110,000 Equipment Accumulated depreciation-equipment 60,000 Patent (net) 10,000 Accounts payable 75,000 Notes payable 130,000 Interest payable 20,000 Bonds payable 240,000 Common stock 300,000 Retained earnings 129,000 Totals $1,054,000 $1,054,000 Required: Prepare a classified balance...
The December 31, 2021. post-closing trial balance ($ in thousands) for Libby Corporation is presented below:...
The December 31, 2021. post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Credits Debits 25,000 60,000 35,eee 6,888 7,eee 125,000 50,000 165,000 55,880 140, eee Cash Investments (long-term) Accounts receivable Allowance for uncollectible accounts Prepaid insurance Inventory Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Patents (unamortized balance) Accounts payable Notes payable, due 2022 Interest payable Bonds payable, due 2031 Common stock (no par), 26, Bee shares authorized, issued, and outstanding Retained earnings Totals 35,000 7,500 40,000...
The December 31, 2021, post-closing trial balance ($ In thousands) for Libby Corporation is presented below:...
The December 31, 2021, post-closing trial balance ($ In thousands) for Libby Corporation is presented below: Credits Debits 29, eee 68, eee 43,00 7,600 3.34 points 5,500 165, eee 58, 205, eee (8 01:04:33 63, eee 152,eee Cash Investments (long-term) Accounts receivable Allowance for uncollectible accounts Prepaid insurance Inventory Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Patents (unamortized balance) Accounts payable Notes payable, due 2022 Interest payable Bonds payable, due 2031 Common stock (no par), 32, eee shares authorized,...
WCC Financial Accounting Mid-Term FM: NO (10) 1. Prepare a classified balance sheet for MARK Corporation at December 31, 2019. Credits Debits 22.500 55.000 22.500 4.500 100.000 45.000 277.500 Cash Investments Accounts Receivable Prepaid Insurance Supplies Land Buildings Accumulated Depreciation Accounts Payable Notes Payable, due 2013 Interest Payable Notes Payable, due 2025 Common Stock Retained Earnings Totals 80.000 37,500 65.000 10.000 120.000 150,000 64.500 $527,000 $527,000
Wolod bo92919 i SIOSTE todmsos 16 Yaequo fobrio Y Toilortalidah bteu bodo 164. The December 31, 2012, post-closing trial balance for Strong Corporation is presented below: Tids 000.8 000. Debits Credits Cash 000 $ 22,500 Investments 000.00 55,000 oldisn' Accounts Receivable 00011 22,500 Prepaid Insurance 000025 4,500 olomo Supplies 100,000 agnum bols Land borvid Buildings 000,02 277,500 unos Accumulated Depreciation 000.00 80,000 Accounts Payable 000.15 37,500 basqa Notes Payable, due 2013 65,000 an Interest Payable 000 10,000 indot Notes Payable,...
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 $604,800 Prepare a classified balance sheet for Strong Corporation at December 31, 2021. (Amounts to be deducted...
The December 31, 2021, post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Credits Debits 27,500 65,000 40,000 8,500 4,000 150,000 55,000 190,000 60,000 Cash Investments (long-term) Accounts receivable Allowance for uncollectible accounts Prepaid insurance Inventory Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Patents (unamortized balance) ccounts payable Notes payable, due 2022 Interest payable Bonds payable, due 2031 Common stock (no par), 33,000 shares authorized, issued, and outstanding Retained earnings Totals 147,500 40,000 4,500 42,500 75,000...
The following is a December 31, 2021, post-closing trial balance for the Jackson Corporation. Credits Debits $ 44,000 38,000 79,000 20,000 14,000 165,000 $ 15,000 Account Title Cash Accounts receivable Inventory Prepaid rent (for the next 8 months) Investment in equity securities (short term) Machinery Accumulated depreciation Patent (net) Accounts payable Salaries payable Income taxes payable Bonds payable (due in 10 years) Common stock Retained earnings Totals 83,000 10,000 6,000 36,000 180,000 140,000 56,000 $443,000 3,000 Required: Prepare a classified...
The following is a December 31, 2021, post-closing trial balance for Almway Corporation. Account Title Debits Credits Cash $ 45,000 Investment in equity securities 110,000 Accounts receivable 60,000 Inventory 200,000 Prepaid insurance (for the next 9 months) 9,000 Land 90,000 420,000 Buildings Accumulated depreciation-buildings $ 100,000 110,000 Equipment Accumulated depreciation-equipment 60,000 Patent (net) 10,000 Accounts payable 75,000 Notes payable 130,000 Interest payable 20,000 Bonds payable 240,000 Common stock 300,000 Retained earnings 129,000 Totals $1,054,000 $1,054,000 Required: Prepare a classified balance...
The December 31, 2021. post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Credits Debits 25,000 60,000 35,eee 6,888 7,eee 125,000 50,000 165,000 55,880 140, eee Cash Investments (long-term) Accounts receivable Allowance for uncollectible accounts Prepaid insurance Inventory Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Patents (unamortized balance) Accounts payable Notes payable, due 2022 Interest payable Bonds payable, due 2031 Common stock (no par), 26, Bee shares authorized, issued, and outstanding Retained earnings Totals 35,000 7,500 40,000...
The December 31, 2021, post-closing trial balance ($ In thousands) for Libby Corporation is presented below: Credits Debits 29, eee 68, eee 43,00 7,600 3.34 points 5,500 165, eee 58, 205, eee (8 01:04:33 63, eee 152,eee Cash Investments (long-term) Accounts receivable Allowance for uncollectible accounts Prepaid insurance Inventory Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Patents (unamortized balance) Accounts payable Notes payable, due 2022 Interest payable Bonds payable, due 2031 Common stock (no par), 32, eee shares authorized,...
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