Homework Answers
1. Total Current Assets at beginning of 20x2 = $433+101+348+218 = $1100
2. Net Book value of Property and Equipment at end of 20x2 = $5998-1300 = $4698
3. Net after Accounts Receivable means, allowance for doubtful debts has been reduced from accounts receivable
4. Treasury Stock Sold during the year = 142 - (111-50) = $81
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1-5
mount of past earnings are available for distribution The Balance Sheet 77 ble for distribution...
only need 5-10 mount of past earnings are available for distribution The Balance Sheet 77 ble...
only need 5-10
mount of past earnings are available for distribution The Balance Sheet 77 ble for distribution to The Foxtail's owners at 7. What amount of the end of 20X2? Problem 15 balance sheets for Melton Corporation for the years ended December Below are the modified balan 31, 20X1 and 20X2 Assets Cash 20X1 $ 433 20X2 $ 38 101 348 218 595 2,696 (1,000) 52 $ 3,443 50 430 283 373 5.998 (1,300) 1,355 $ 7,577 517 6LS...
4 What were the AProblem 18 5 What was the amount of becoming more balance sheets...
4 What were the AProblem 18 5 What was the amount of becoming more balance sheets and the additional information provided. Condensed Balance Sheets complex. Natalie Rae, the owner, has asked for your help in understanding the condensed The operations of the Great Rae Café, a small food service operation, are I The Great Rae Café December 31, 20X1 and 20X2 20X1 20X2 $ 15,000 15,000 25,000 110,000 240,000 $ 12,000 14,000 20,000 105,000 320,000 (50,000) $421,000 Cash Accounts Receivable...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows: Current Assets...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows: Current Assets Liabilities Cash $ 19,000 Accounts payable $ 21,000 Accounts receivable 24,000 Notes payable 29,000 Inventory 34,000 Bonds payable 59,000 Prepaid expenses 12,900 Fixed Assets Stockholders’ Equity Gross plant and equipment $ 259,000 Preferred stock $ 29,000 Less: Accumulated depreciation 51,800 Common stock 64,000 Paid in Capital 34,000 Net plant and equipment $ 207,200 Retained earnings 61,100 Total assets $ 297,100 Total liabilities and stockholders’...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows Current Assets Liabilities...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows Current Assets Liabilities Cash Accounts receivable Inventory Prepaid expenses $ 22,000 30,000 60,000 S 20,000 Accounts payable 25,000 Notes payable 35,000 Bonds payable 13,000 Fixed Assets Stockholders' Equity $ 30,000 65,000 35,000 59,000 $301,000 Gross plant and equipment Less: Accumulated depreciation $ 260,000 Preferred stock 52,000 Common stock SA Paid in Capital $ 208,000Retained earnings Net plant and equipment Total assets 301,000 Total liabilities and stockholders' equity...
Problem 18 The operations of the Great Rae Café, a small food service operation, are becoming...
Problem 18 The operations of the Great Rae Café, a small food service operation, are becoming more complex. Natalie Rae, the owner, has asked for your help in understanding the condensed balance sheets and the additional information provided. The Great Rae Café Condensed Balance Sheets December 31, 20X1 and 20X2 20X1 Cash $ 15,000 Accounts Receivable 15,000 Inventory 25,000 Investments (noncurrent) 110,000 Equipment 240,000 Accumulated Depreciation Total Assets $385,000 Current Liabilities: Accounts Payable $ 18,000 S Note Payable Dividends Payable...
For December 31, 20X1. the balance sheet of Baxter Corporation was as follows: Current Assets Cash...
For December 31, 20X1. the balance sheet of Baxter Corporation was as follows: Current Assets Cash Accounts receivable Inventory Prepaid expenses Fixed Assets Gross plant and equipment Less: Accumulated depreciation $ 25,000 33,000 63,000 Liabilities $ 23,000 Accounts payable 28,000 Notes payable 38,000 Bonds payable 13,300 Stockholders' Equity $ 263,000 Preferred stock 52,600 Common stock Paid in Capital $ 210,480 Retained earnings $ 312,700 Total liabilities and stockholders' equity Net plant and equipment Total assets $ 33,000 68,000 38,000 52,700...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows: ...
For December 31, 20X1, the balance sheet of Baxter Corporation
was as follows: Current AssetsLiabilitiesCash$13,000Accounts payable$15,000Accounts receivable18,000Notes payable23,000Inventory28,000Bonds payable53,000Prepaid expenses12,300Fixed AssetsStockholders’ EquityGross plant and equipment$253,000Preferred stock$23,000Less: Accumulated depreciation50,600Common stock58,000Paid in Capital28,000Net plant and equipment$202,400Retained earnings73,700Total assets$273,700Total liabilities and stockholders’ equity$273,700Sales for 20X2 were $235,000, and the cost of goods sold was 60
percent of sales. Selling and administrative expense was $23,500.
Depreciation expense was 11 percent of plant and equipment (gross)
at the beginning of the year. Interest expense for the...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows: Current Assets Liabilities...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows: Current Assets Liabilities Cash $ 20,000 Accounts payable $ 22,000 Accounts receivable 25,000 Notes payable 30,000 Inventory 35,000 Bonds payable 60,000 Prepaid expenses 13,000 Fixed Assets Stockholders’ Equity Gross plant and equipment $ 260,000 Preferred stock $ 30,000 Less: Accumulated depreciation 52,000 Common stock 65,000 Paid in Capital 35,000 Net plant and equipment $ 208,000 Retained earnings 59,000 Total assets $ 301,000 Total liabilities and stockholders’ equity...
i need help answering questions #7 through #11 How much treasury stock w 5. What was...
i
need help answering questions #7 through #11
How much treasury stock w 5. What was the amount of relate solely to ce per share 0. What was the amount of long 7. Assume the increas the sale of common stock during of common stock? 8. What was the networking clip stock was sold du For money raised by selling nt of long-term debt borrowed during 20x2? cretses in common stock and additional paid-in capital relate ring 20x2. What was...
27. Construction of income statement and balance sheet (L02-1 & (2-3 ) For December 31, 20X1....
27. Construction of income statement and balance sheet (L02-1 & (2-3 ) For December 31, 20X1. the balance sheet of Baxter Corporation was as follows: Current Assets Liabilities Cash $ 15,000 Accounts payable $ 17,000 Accounts receivable 20,000 Notes payable 25,000 Inventory 30,000 Bonds payable 55,000 Prepaid expenses 12,500 Fixed Assets Stockholders' Equity Plant and equipment (gross) $255,000 Preferred stock $ 25,000 Less: Accumulated Common stock 60,000 depreciation 51.000 Paid-in capital 30,000 Net plant and equipment $204,000 Retained earnings 69.500...
only need 5-10
mount of past earnings are available for distribution The Balance Sheet 77 ble for distribution to The Foxtail's owners at 7. What amount of the end of 20X2? Problem 15 balance sheets for Melton Corporation for the years ended December Below are the modified balan 31, 20X1 and 20X2 Assets Cash 20X1 $ 433 20X2 $ 38 101 348 218 595 2,696 (1,000) 52 $ 3,443 50 430 283 373 5.998 (1,300) 1,355 $ 7,577 517 6LS...
4 What were the AProblem 18 5 What was the amount of becoming more balance sheets and the additional information provided. Condensed Balance Sheets complex. Natalie Rae, the owner, has asked for your help in understanding the condensed The operations of the Great Rae Café, a small food service operation, are I The Great Rae Café December 31, 20X1 and 20X2 20X1 20X2 $ 15,000 15,000 25,000 110,000 240,000 $ 12,000 14,000 20,000 105,000 320,000 (50,000) $421,000 Cash Accounts Receivable...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows Current Assets Liabilities Cash Accounts receivable Inventory Prepaid expenses $ 22,000 30,000 60,000 S 20,000 Accounts payable 25,000 Notes payable 35,000 Bonds payable 13,000 Fixed Assets Stockholders' Equity $ 30,000 65,000 35,000 59,000 $301,000 Gross plant and equipment Less: Accumulated depreciation $ 260,000 Preferred stock 52,000 Common stock SA Paid in Capital $ 208,000Retained earnings Net plant and equipment Total assets 301,000 Total liabilities and stockholders' equity...
Problem 18 The operations of the Great Rae Café, a small food service operation, are becoming more complex. Natalie Rae, the owner, has asked for your help in understanding the condensed balance sheets and the additional information provided. The Great Rae Café Condensed Balance Sheets December 31, 20X1 and 20X2 20X1 Cash $ 15,000 Accounts Receivable 15,000 Inventory 25,000 Investments (noncurrent) 110,000 Equipment 240,000 Accumulated Depreciation Total Assets $385,000 Current Liabilities: Accounts Payable $ 18,000 S Note Payable Dividends Payable...
For December 31, 20X1. the balance sheet of Baxter Corporation was as follows: Current Assets Cash Accounts receivable Inventory Prepaid expenses Fixed Assets Gross plant and equipment Less: Accumulated depreciation $ 25,000 33,000 63,000 Liabilities $ 23,000 Accounts payable 28,000 Notes payable 38,000 Bonds payable 13,300 Stockholders' Equity $ 263,000 Preferred stock 52,600 Common stock Paid in Capital $ 210,480 Retained earnings $ 312,700 Total liabilities and stockholders' equity Net plant and equipment Total assets $ 33,000 68,000 38,000 52,700...
For December 31, 20X1, the balance sheet of Baxter Corporation
was as follows: Current AssetsLiabilitiesCash$13,000Accounts payable$15,000Accounts receivable18,000Notes payable23,000Inventory28,000Bonds payable53,000Prepaid expenses12,300Fixed AssetsStockholders’ EquityGross plant and equipment$253,000Preferred stock$23,000Less: Accumulated depreciation50,600Common stock58,000Paid in Capital28,000Net plant and equipment$202,400Retained earnings73,700Total assets$273,700Total liabilities and stockholders’ equity$273,700Sales for 20X2 were $235,000, and the cost of goods sold was 60
percent of sales. Selling and administrative expense was $23,500.
Depreciation expense was 11 percent of plant and equipment (gross)
at the beginning of the year. Interest expense for the...
i
need help answering questions #7 through #11
How much treasury stock w 5. What was the amount of relate solely to ce per share 0. What was the amount of long 7. Assume the increas the sale of common stock during of common stock? 8. What was the networking clip stock was sold du For money raised by selling nt of long-term debt borrowed during 20x2? cretses in common stock and additional paid-in capital relate ring 20x2. What was...
27. Construction of income statement and balance sheet (L02-1 & (2-3 ) For December 31, 20X1. the balance sheet of Baxter Corporation was as follows: Current Assets Liabilities Cash $ 15,000 Accounts payable $ 17,000 Accounts receivable 20,000 Notes payable 25,000 Inventory 30,000 Bonds payable 55,000 Prepaid expenses 12,500 Fixed Assets Stockholders' Equity Plant and equipment (gross) $255,000 Preferred stock $ 25,000 Less: Accumulated Common stock 60,000 depreciation 51.000 Paid-in capital 30,000 Net plant and equipment $204,000 Retained earnings 69.500...
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