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Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Income Taxes Payable Salaries and Wages Payable Total...
Problem 2-3A (Part Level Submission) You are provided with the following information for Bramble Corp., effective...
Problem 2-3A (Part Level Submission) You are provided with the following information for Bramble Corp., effective as of its April 30, 2017, year-end Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common stock Cost of goods sold Depreciation expense Dividends Equipment Income tax expense Income taxes payable Insurance expense Interest expense Inventory Land Mortgage payable Notes payable Prepaid insurance Retained earnings (beginning) Salaries and wages expense Salaries and wages payable Sales revenue $904 970 670 1,430 1,380 1,130 265 395 2,580...
(a2) Prepare a retained earnings statement for Bramble Corp. for the year ended April 30, 2017....
(a2) Prepare a retained earnings statement for Bramble Corp. for the year ended April 30, 2017. (List items that increase retained earnings first.) Bramble Corp. Retained Earnings Statement Problem 2-3A (Part Level Submission) You are provided with the following information for Bramble Corp., effective as of its April 30, 2017, year- end. Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common stock Cost of goods sold Depreciation expense Dividends Equipment Income tax expense Income taxes payable Insurance expense Interest expense Inventory...
Assets Current Assets Cash Accounts receivable Liabilities and Stockholders' Equity Current liabilities Accounts payable 640,000 Notes...
Assets Current Assets Cash Accounts receivable Liabilities and Stockholders' Equity Current liabilities Accounts payable 640,000 Notes payable to banks 120,000 150,000 ($ less Accrued wages allowance for doubtful accounts of $10,000) 1,170,000 80,000 1,190,000 Inventory Taxes Owed Total current liabilities Long-term debt 1,620,000 $ 020, TO Total current assets Land Plant and equipment ($2,330,000 less accumulated depreciation 1,400,000 4,610,000 Stockholders' equity Common stock ($1 par, 610,000 shares authorized, 580,000 outstanding) Retained earnings Total stockholders' equity $ Total liabilities and equity...
$ 866 880 730 1,300 16,600 1,020 330 350 2,540 2,000 185 135 Accounts payable Accounts...
$ 866 880 730 1,300 16,600 1,020 330 350 2,540 2,000 185 135 Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common stock Cost of goods sold Depreciation expense Dividends Equipment Goodwill Income tax expense Income taxes payable Insurance expense Interest expense Inventory Investment in land Land Mortgage payable (long-term) Notes payable (short-term) Prepaid insurance Retained earnings (beginning) Salaries and wages expense Salaries and wages payable Sales revenue Stock investments (short-term) 320 470 960 15,130 3,200 3,700 → 69 70 1,800...
Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated...
Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings $6,530 1,455 48,740 24,320 Inventory Land 240,000 Automobiles 81,525 11,000 38,190 121,600 161,000 190,950 158,000 13,000 Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash Long-term investments Notes payable, due June 30, 2018 Office supplies Paid-in capital in excess of par value 2,280 47,000 Patents 43,000 Prepaid rent 1,460 Retained earnings 295,445 Salaries and wages payable 3,945...
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.
Blossom Inc. reports the following current and non-current liabilities: accounts payable $25,000; salaries payable $3,800; interest...
Blossom Inc. reports the following current and non-current
liabilities: accounts payable $25,000; salaries payable $3,800;
interest payable $6,000; unearned revenue $900; income tax payable
$6,600; mortgage payable (due within the year) $4,400; mortgage
payable (due in more than one year) $44,000. Prepare the current
liabilities section of the statement of financial position.
Total Current Liabilities
Property, Plant, and Equipment
Total Assets
Shareholders Equity
Total Shareholders Equity
Current Liabilities
Total Current Assets
Total Liabilities & Shareholders Equity
Total Property, Plant, and...
Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated...
Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings $6,530 1,455 48,740 24,320 Inventory Land 240,000 Automobiles 81,525 11,000 38,190 121,600 161,000 190,950 158,000 13,000 Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash Long-term investments Notes payable, due June 30, 2018 Office supplies Paid-in capital in excess of par value 2,280 47,000 Patents 43,000 Prepaid rent 1,460 Retained earnings 295,445 Salaries and wages payable 3,945...
Assume current liabilities include only items from operations (e.g., accounts payable, taxes payable). Long-term liabilities include...
Assume current liabilities include only items from operations (e.g., accounts payable, taxes payable). Long-term liabilities include items from financing (e.g. bonds and other long-term liabilities). Note that the company did not sell any equipment and did not borrow any additional long-term liabilities throughout the year. Prepare the cash flow statement for 2020 using the indirect method. Assume no dividends were declared or paid in 2020. Do not enter dollar signs commas in the input boxes. Use the negative sign for...
6. At December 31, MediStat Precision Instruments owes $52.000 on Accounts Payable, Salaries Payable of $12,000,...
6. At December 31, MediStat Precision Instruments owes $52.000 on Accounts Payable, Salaries Payable of $12,000, and Income Tax Payable of $10,000. MediStat also has $300.000 of Bonds Payable that were issued at face value that require payment of a $35,000 Installment next year and the remainder in later years. The bonds payable require an annual interest payment of $4,000, and MediStat still owes this interest for the current year. Report MediStat's liabilities on its classified balance sheet on December...
Problem 2-3A (Part Level Submission) You are provided with the following information for Bramble Corp., effective as of its April 30, 2017, year-end Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common stock Cost of goods sold Depreciation expense Dividends Equipment Income tax expense Income taxes payable Insurance expense Interest expense Inventory Land Mortgage payable Notes payable Prepaid insurance Retained earnings (beginning) Salaries and wages expense Salaries and wages payable Sales revenue $904 970 670 1,430 1,380 1,130 265 395 2,580...
(a2) Prepare a retained earnings statement for Bramble Corp. for the year ended April 30, 2017. (List items that increase retained earnings first.) Bramble Corp. Retained Earnings Statement Problem 2-3A (Part Level Submission) You are provided with the following information for Bramble Corp., effective as of its April 30, 2017, year- end. Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common stock Cost of goods sold Depreciation expense Dividends Equipment Income tax expense Income taxes payable Insurance expense Interest expense Inventory...
Assets Current Assets Cash Accounts receivable Liabilities and Stockholders' Equity Current liabilities Accounts payable 640,000 Notes payable to banks 120,000 150,000 ($ less Accrued wages allowance for doubtful accounts of $10,000) 1,170,000 80,000 1,190,000 Inventory Taxes Owed Total current liabilities Long-term debt 1,620,000 $ 020, TO Total current assets Land Plant and equipment ($2,330,000 less accumulated depreciation 1,400,000 4,610,000 Stockholders' equity Common stock ($1 par, 610,000 shares authorized, 580,000 outstanding) Retained earnings Total stockholders' equity $ Total liabilities and equity...
$ 866 880 730 1,300 16,600 1,020 330 350 2,540 2,000 185 135 Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common stock Cost of goods sold Depreciation expense Dividends Equipment Goodwill Income tax expense Income taxes payable Insurance expense Interest expense Inventory Investment in land Land Mortgage payable (long-term) Notes payable (short-term) Prepaid insurance Retained earnings (beginning) Salaries and wages expense Salaries and wages payable Sales revenue Stock investments (short-term) 320 470 960 15,130 3,200 3,700 → 69 70 1,800...
Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings $6,530 1,455 48,740 24,320 Inventory Land 240,000 Automobiles 81,525 11,000 38,190 121,600 161,000 190,950 158,000 13,000 Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash Long-term investments Notes payable, due June 30, 2018 Office supplies Paid-in capital in excess of par value 2,280 47,000 Patents 43,000 Prepaid rent 1,460 Retained earnings 295,445 Salaries and wages payable 3,945...
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.
Blossom Inc. reports the following current and non-current
liabilities: accounts payable $25,000; salaries payable $3,800;
interest payable $6,000; unearned revenue $900; income tax payable
$6,600; mortgage payable (due within the year) $4,400; mortgage
payable (due in more than one year) $44,000. Prepare the current
liabilities section of the statement of financial position.
Total Current Liabilities
Property, Plant, and Equipment
Total Assets
Shareholders Equity
Total Shareholders Equity
Current Liabilities
Total Current Assets
Total Liabilities & Shareholders Equity
Total Property, Plant, and...
Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings $6,530 1,455 48,740 24,320 Inventory Land 240,000 Automobiles 81,525 11,000 38,190 121,600 161,000 190,950 158,000 13,000 Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash Long-term investments Notes payable, due June 30, 2018 Office supplies Paid-in capital in excess of par value 2,280 47,000 Patents 43,000 Prepaid rent 1,460 Retained earnings 295,445 Salaries and wages payable 3,945...
Assume current liabilities include only items from operations (e.g., accounts payable, taxes payable). Long-term liabilities include items from financing (e.g. bonds and other long-term liabilities). Note that the company did not sell any equipment and did not borrow any additional long-term liabilities throughout the year. Prepare the cash flow statement for 2020 using the indirect method. Assume no dividends were declared or paid in 2020. Do not enter dollar signs commas in the input boxes. Use the negative sign for...
6. At December 31, MediStat Precision Instruments owes $52.000 on Accounts Payable, Salaries Payable of $12,000, and Income Tax Payable of $10,000. MediStat also has $300.000 of Bonds Payable that were issued at face value that require payment of a $35,000 Installment next year and the remainder in later years. The bonds payable require an annual interest payment of $4,000, and MediStat still owes this interest for the current year. Report MediStat's liabilities on its classified balance sheet on December...
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