Problem 3-4 Balance sheet preparation [LO3-2, 3-3]
The following is the ending balances of accounts at December 31,
2018 for the Weismuller Publishing Company.
Account Title | Debits | Credits | ||||
Cash | 87,000 | |||||
Accounts receivable | 182,000 | |||||
Inventories | 296,000 | |||||
Prepaid expenses | 170,000 | |||||
Machinery and equipment | 342,000 | |||||
Accumulated depreciation—equipment | 121,000 | |||||
Investments | 162,000 | |||||
Accounts payable | 71,000 | |||||
Interest payable | 31,000 | |||||
Deferred revenue | 91,000 | |||||
Taxes payable | 41,000 | |||||
Notes payable | 255,000 | |||||
Allowance for uncollectible accounts | 27,000 | |||||
Common stock | 411,000 | |||||
Retained earnings | 191,000 | |||||
Totals | 1,239,000 | 1,239,000 | ||||
Additional information:
Required:
Prepare a classified balanced sheet for the Weismuller Publishing
Company at December 31, 2018. (Amounts to be deducted
should be indicated by a minus sign.)
Problem 3-4 Balance sheet preparation [LO3-2, 3-3]
The following is the ending balances of accounts at December 31,
2018 for the Weismuller Publishing Company.
Account Title | Debits | Credits | ||||
Cash | 87,000 | |||||
Accounts receivable | 182,000 | |||||
Inventories | 296,000 | |||||
Prepaid expenses | 170,000 | |||||
Machinery and equipment | 342,000 | |||||
Accumulated depreciation—equipment | 121,000 | |||||
Investments | 162,000 | |||||
Accounts payable | 71,000 | |||||
Interest payable | 31,000 | |||||
Deferred revenue | 91,000 | |||||
Taxes payable | 41,000 | |||||
Notes payable | 255,000 | |||||
Allowance for uncollectible accounts | 27,000 | |||||
Common stock | 411,000 | |||||
Retained earnings | 191,000 | |||||
Totals | 1,239,000 | 1,239,000 | ||||
Additional information:
Required:
Prepare a classified balanced sheet for the Weismuller Publishing
Company at December 31, 2018. (Amounts to be deducted
should be indicated by a minus sign.)
Problem 3-4 Balance sheet preparation [LO3-2, 3-3] The following is the ending balances of accounts at...
The following is the ending balances of accounts at December 31, 2021, for the Welsmuller Publishing Company Credits $ Debits 87,000 182,000 296,000 170,000 342,000 $ 121,000 162,000 Account Title Cash Accounts receivable Inventory Prepaid expenses Equipment Accumulated depreciation Investments Accounts payable Interest payable Deferred revenue Income taxes payable Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals 71,000 31,000 91,000 41,000 255,000 27,000 411,000 191.000 $1,239,000 $1,239,000 Additional information: 1. Prepaid expenses include $142.000 paid on December...
Problem 3-4 Balance sheet preparation (LO3-2, 3-3) The following is the ending balances of accounts at December 31, 2018 for the Welsmuller Publishing Company. Account Title Cash Accounts receivable Inventories Prepaid expenses Machinery and equipment Accumulated depreciation equipment Investments Accounts payable Interest payable Deferred revenue Taxes payable Notes payable Allowance for uncollectible accounts Conmon stock Retained earnings Totals Debits Credits 67,000 162,000 286,000 150,000 322,000 111,000 142,000 61,000 21,000 81,000 31,000 205,000 17,000 401,000 201,000 1,129,000 1,129,000 Additional information: 1....
The following is the ending balances of accounts at December 31, 2018 for the Weismuller Publishing Company. Account Title Debits Credits Cash 75,000 Accounts receivable 170,000 Inventories 290,000 Prepaid expenses 158,000 Machinery and equipment 330,000 Accumulated depreciation—equipment 115,000 Investments 150,000 Accounts payable 65,000 Interest payable 25,000 Deferred revenue 85,000 Taxes payable 35,000 Notes payable 225,000 Allowance for uncollectible accounts 21,000 Common stock 405,000 Retained earnings 197,000 Totals 1,173,000 1,173,000 Additional information: Prepaid expenses include $130,000 paid on December 31, 2018,...
Balance sheer preparation LOJ-2, LO3-3 The following is the ending balances of accounts at December 31, 2021, for the Weisruller Publishing Company Account Title Debits . Credits Cash $ 55,000 Accounts receivable 160,000 Inventory 285,000 Prepaid expenses 148.000 Equipment 320,000 Accumulated depreciation $ 110,000 Investments 140,000 Accounts payable 60.000 Interest payable 20,000 Deferred revenue 80,000 Income taxes payable 30,000 Notes payable 200.000 Allowance for uncollectible accounts 16,000 Common stock 400,000 Retained earnings 202,000 Totals $1,118,000 $1,118,000 Additional Information: 1. Prepaid...
Problem 3-4 (AGO) Dalance sheet preparauon [LUS-2, S- The following is the ending balances of accounts at December 31, 2021, for the Weismuller Publishin Credits $ Debits 83,000 178,000 294,000 166,000 338,000 $ 119,000 158,000 Account Title Cash Accounts receivable Inventory Prepaid expenses Equipment Accumulated depreciation Investments Accounts payable Interest payable Deferred revenue Income taxes payable Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals 69,000 29,000 89,000 39,000 245,000 25, eee 409,000 193,000 $1,217,000 $1,217,600 Additional information:...
The following is the ending balances of accounts at December 31, 2021, for the Weismuller Publishing Company. Account Title Debits Credits Cash $ 95,000 Accounts receivable 190,000 Inventory 300,000 Prepaid expenses 178,000 Equipment 350,000 Accumulated depreciation $ 125,000 Investments 170,000 Accounts payable 75,000 Interest payable 35,000 Deferred revenue 95,000 Income taxes payable 45,000 Notes payable 275,000 Allowance for uncollectible accounts 31,000 Common stock 415,000 Retained earnings 187,000 Totals $ 1,283,000 $ 1,283,000 Additional information: Prepaid expenses include $150,000 paid on...
The following is the ending balances of accounts at December 31, 2021, for the Weismuller Publishing Company. Account Title Debits Credits Cash $ 79,000 Accounts receivable 174,000 Inventory 292,000 Prepaid expenses 162,000 Equipment 334,000 Accumulated depreciation $ 117,000 Investments 154,000 Accounts payable 67,000 Interest payable 27,000 Deferred revenue 87,000 Income taxes payable 37,000 Notes payable 235,000 Allowance for uncollectible accounts 23,000 Common stock 407,000 Retained earnings 195,000 Totals $ 1,195,000 $ 1,195,000 Additional information: Prepaid expenses include $134,000 paid on...
Exercise 3-5 (Algo) Balance sheet preparation (LO3-2, 3-3) The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation Credits Debits $ 31,000 68,000 93,000 $ 16,000 56,000 132.000 330.000 106,000 87.000 Account Title Cash Accounts receivable Inventory Interest payable Investment in equity securities Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Copyright (net) Prepaid expenses (next 12 months) Accounts payable Deferred revenue (next 12 months) Notes payable Allowance for uncollectible accounts Common stock...
The following is the ending balances of accounts at December 31, 2021, for the Welsmuller Publishing Company. Credits $ Debits 95, eee 190,eee 380,eee 178,000 350, eee $ 125,eee 178, eee Account Title Cash Accounts receivable Inventory Prepaid expenses Equipment Accumulated depreciation Investments Accounts payable Interest payable Deferred revenue Income taxes payable Notes payable Allowance for uncollectible accounts Connon stock Retained earnings Totals 75,000 35, eee 95, eee 45, eee 275, eee 31, eee 415,000 187,eee $1,283,000 $1,283,00 Additional information:...
Exercise 3-5 (Algo) Balance sheet preparation (LO3-2, 3-3) The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation 53 Account Title Cash Accounts receivable Inventory Interest payable Investment in equity securities Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Copyright (net) Prepaid expenses (next 12 months) Accounts payable Deferred revenue (next 12 months) Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Debits Credits $ 26,000 58,000 83,000 $ 11,000 46,000...