Complete the general ledger accounts to calculate cash received from the sale of furniture.
Homework Answers
| Furniture | ||
| Beg. Bal. | $ 85,000 | |
| Purchase | $ 47,900 | |
| Sale of Furniture | $ 58,300 | |
| End. Bal. | $ 74,600 | |
| Accumulated Depreciation | ||
| Beg. Bal. | $ 6,400 | |
| Depreciation | $ 26,300 | |
| Sale of Furniture | $ 21,100 | |
| End. Bal. | $ 11,600 | |
| Cost | $ 58,300 | |
| Accumulated Depreciation | $ 21,100 | |
| Book Value (Cash received) | $ 37,200 | |
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Complete the general ledger accounts to calculate cash received
from the sale of furniture.
2018 CRUZ,...
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sale of assests under depreciation. I am having trouble figuring it out. Furniture costing $73,700 is...
sale of assests under
depreciation. I am having trouble figuring it out. Furniture
costing $73,700 is sold at its book value in 2019. Acquisitions of
furniture total $60,000 cash, on which no depreciation is necessary
because it is acquired at year-end. Complete the general ledger
accounts to calculate cash received from the sale of furniture.
Plepalu wapenbeb VU 2/3V Total current assets 232,100 177,600 Furniture 111,000 124,700 Accum. depreciation- (17,200) Furniture (9,400) Total assets $325, 900 $292,900 Liabilities and Equity...
December 31, 2019 2019 2018 Assets Cash Accounts receivable, net Inventory Prepaid expenses $ 94,800 41,000...
December 31, 2019 2019 2018 Assets Cash Accounts receivable, net Inventory Prepaid expenses $ 94,800 41,000 85,800 5,400 227,000 109,e00 (17,000) $319,000 $ 24,000 51,000 95,800 4,200 175,000 119,000 (9,000) $285,000 Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings $ 15,000 9,000 1,400 25,400 29,000 54,400 $ 21,000 5,000 2,600 28,600 69,000 97,600 229,000...
6 - Homework CRUZ, INC. Comparative Balance Sheets December 31, 2017 2016 66,100 28,500 59,700 3,700...
6 - Homework CRUZ, INC. Comparative Balance Sheets December 31, 2017 2016 66,100 28,500 59,700 3,700 158,000 74,600 (11,600) $221,000 $ 16,600 35,200 66,100 13,000 120,900 85,000 6,400) $199,500 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 10,400 6,300 1,000 17,700...
Required information A comparative balance sheet and income statement is shown for Cruz, Inc. 2016 CRUZ,...
Required information A comparative balance sheet and income statement is shown for Cruz, Inc. 2016 CRUZ, INC. Comparative Balance Sheets December 31, 2017 2017 Assets Cash $ 69,200 Accounts receivable, net 29,700 Inventory 62,200 Prepaid expenses 3,800 Total current assets 164,900 Furniture 76,600 Accum. depreciation-Furniture (11,900) Total assets $229,600 Liabilities and Equity Accounts payable $ 10,800 Wages payable 6,400 Income taxes payable 1,100 Total current liabilities 18,300 Notes payable (long-term) 22,780 Total liabilities 41,000 Equity Common stock, $5 par value...
CRUZ, INC Comparative Balance Sheets December 31, 2017 2017 2016 Assets Cash Accounts receivable, net Inventory...
CRUZ, INC Comparative Balance Sheets December 31, 2017 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equitv Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 89,000 22,100 46,900 88,000 4,000 161,000 113,300 38,200 80,000 4,900 212,100 98,800 (15,300) (8,600) $295,600 $265,700 $ 13,900 19,600 4,600 2,600 26,800 69,000...
2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 62,800 Accounts receivable,...
2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 62,800 Accounts receivable, net 27.000 Inventory 56,600 Prepaid expenses 3,500 Total current assets 149,900 Furniture 70,500 Accum. depreciation-Furniture (10,900) Total assets $209,500 Liabilities and Equity Accounts payable $ 9,900 Wages payable 5,900 Income taxes payable 1.000 Total current liabilities 16,800 Notes payable (long-term) 20,700 Total liabilities 37,500 Equity Common stock, $5 par value 150,000 Retained earnings 22.000 Total liabilities and equity $209,500 $ 15,700 33.300 62,500 2,900...
2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 99,300 Accounts receivable, net 42,600 Inventory 89, 100 Prepaid expenses 5,600 Total current assets 236,600 Furniture 113,000 Accum. depreciation-Furniture (17,500) Total assets $332,100 Liabilities and Equity Accounts payable $ 15,700 Wages payable 9,400 Income taxes payable 1,500 Total current liabilities 26,600 Notes payable (long-term) 30,900 Total liabilities 57,500 Equity Common stock, $5 par value 241,200 Retained earnings 33,400 Total liabilities and equity $332,100 $ 24,900 52,800 99,200...
QS 12-27B Direct: Computing cash from operations LO P5 2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 66,100 Accounts receivable, net 28,500 Inventory 59,700 Prepaid expenses 3,700 Total current assets 158,000 Furniture 74,600 Accum. depreciation Furniture (11,600) Total assets $221,000 Liabilities and Equity Accounts payable $ 10,400 Wages payable 6,300 Income taxes payable 1,000 Total current liabilities 17,700 Notes payable (long-term) 20,700 Total liabilities 38,400 Equity Common stock, $5 par value 159,500 Retained earnings 23,100...
CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 2018 Assets $ 72,900 $18,100 38,400 Cash Accounts receivable, net 31,300 65,600 Inventory 72,100 3,300 Prepaid expenses 4,000 131,900 Total current assets 173,800 Furniture 80,600 93,500 (7,100) $218,300 Accum. depreciation-Furniture (12,500) $241,900 Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities $ 11,400 6,800 $16,100 3,800 1,200 19,400 24,800 44,200 2,100 22,000 55,800 77,800 Notes payable (long-term) Total liabilities Equity Common stock, $5 par value...
CRUZ, INC Comparative Balance Sheets December 31, 2019 2019 2018 $ 94,800 41.000 85,800 5,400 227,000 109,000 (17,000) $319,000 $ 24,000 51.000 95,800 4,200 175,000 119,000 (9.000) $285,000 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 15,000 $ 21.000 9,000 5,000...
sale of assests under
depreciation. I am having trouble figuring it out. Furniture
costing $73,700 is sold at its book value in 2019. Acquisitions of
furniture total $60,000 cash, on which no depreciation is necessary
because it is acquired at year-end. Complete the general ledger
accounts to calculate cash received from the sale of furniture.
Plepalu wapenbeb VU 2/3V Total current assets 232,100 177,600 Furniture 111,000 124,700 Accum. depreciation- (17,200) Furniture (9,400) Total assets $325, 900 $292,900 Liabilities and Equity...
December 31, 2019 2019 2018 Assets Cash Accounts receivable, net Inventory Prepaid expenses $ 94,800 41,000 85,800 5,400 227,000 109,e00 (17,000) $319,000 $ 24,000 51,000 95,800 4,200 175,000 119,000 (9,000) $285,000 Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings $ 15,000 9,000 1,400 25,400 29,000 54,400 $ 21,000 5,000 2,600 28,600 69,000 97,600 229,000...
6 - Homework CRUZ, INC. Comparative Balance Sheets December 31, 2017 2016 66,100 28,500 59,700 3,700 158,000 74,600 (11,600) $221,000 $ 16,600 35,200 66,100 13,000 120,900 85,000 6,400) $199,500 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 10,400 6,300 1,000 17,700...
Required information A comparative balance sheet and income statement is shown for Cruz, Inc. 2016 CRUZ, INC. Comparative Balance Sheets December 31, 2017 2017 Assets Cash $ 69,200 Accounts receivable, net 29,700 Inventory 62,200 Prepaid expenses 3,800 Total current assets 164,900 Furniture 76,600 Accum. depreciation-Furniture (11,900) Total assets $229,600 Liabilities and Equity Accounts payable $ 10,800 Wages payable 6,400 Income taxes payable 1,100 Total current liabilities 18,300 Notes payable (long-term) 22,780 Total liabilities 41,000 Equity Common stock, $5 par value...
CRUZ, INC Comparative Balance Sheets December 31, 2017 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equitv Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 89,000 22,100 46,900 88,000 4,000 161,000 113,300 38,200 80,000 4,900 212,100 98,800 (15,300) (8,600) $295,600 $265,700 $ 13,900 19,600 4,600 2,600 26,800 69,000...
2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 62,800 Accounts receivable, net 27.000 Inventory 56,600 Prepaid expenses 3,500 Total current assets 149,900 Furniture 70,500 Accum. depreciation-Furniture (10,900) Total assets $209,500 Liabilities and Equity Accounts payable $ 9,900 Wages payable 5,900 Income taxes payable 1.000 Total current liabilities 16,800 Notes payable (long-term) 20,700 Total liabilities 37,500 Equity Common stock, $5 par value 150,000 Retained earnings 22.000 Total liabilities and equity $209,500 $ 15,700 33.300 62,500 2,900...
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