Homework Answers
Your spellings are the cause for incorrect answer, please correct them:
| wrong spelling | correct spelling |
| Land hell for future plant site | Land held for future plant site |
| cash restricted for plan expansion | cash restricted for plant expansion |
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Exercise 5-4 Your answer is partially correct. Try again. Assume that Denis Savard Inc. has the...
-UN- Assume that Denis Savard Inc. has the following accounts at the end of the current...
-UN- Assume that Denis Savard Inc. has the following accounts at the end of the current year. 1. Common Stock 14. Accumulated Depreciation-Buildings. 2 Discount on Bonds Payable. 15. Restricted Cash for Plant Expansion Treasury Stock (at cost). 16. Land Held for Future Plant Site. port Notes Payable (short-term). 17. Allowance for Doubtful Accounts. Raw Materials. 18. Retained Earnings. Preferred Stock Investments (long-term). 19. Paid-in Capital in Excess of Par Common Stock. Unearned Rent Revenue. 20. Unearned Subscriptions Revenue. 8....
Assume that Denis Savard Inc. has the following accounts at the end of the current year....
Assume that Denis Savard Inc. has the following accounts at the end of the current year.1. Common Stock.2. Discount on Bonds Payable.3. Treasury Stock (at cost).4. Notes Payable (short-term).5. Raw Materials.6. Preferred Stock Investments (long-term).7. Unearned Rent Revenue.8. Work in Process.9. Copyrights.10. Buildings.11. Notes Receivable (short-term).12. Cash.13. Salaries and Wages Payable.14. Accumulated Depreciation-Buildings.15. Restricted Cash for Plant Expansion.16. Land Held for Future Plant Site.17. Allowance for Doubtful Accounts.18. Retained Earnings.19. Paid-in Capital in Excess of Par-Common Stock.20. Unearned Subscriptions Revenue.21....
E5-4B (L02,3) (Preparation of a Classified Balance Sheet) Assume that Cluver Inc. has the following accounts...
E5-4B (L02,3) (Preparation of a Classified Balance Sheet) Assume that Cluver Inc. has the following accounts at the end ofthe current year. 1. Accrued Salaries Payable. 14. Common Stock 2. Cash Restricted for Plant Expansion. 15. Treasury Stock (at cost). 3. Land Held for Future Plant Site. 16. Raw Materials. 4. Accumulated Depreciation Buildings. 17. Unearned Rent Revenue. 5. Retained Earnings 18. Copyrights. 6. Unearned Subscriptions Revenue. 19. Notes Receivable (short-term). 7. Finished Goods. 20. Cash. 8. Accounts Receivable. 21....
Exercise 5-5 Your answer is partially correct. Try again. Nash Company has decided to expand its...
Exercise 5-5 Your answer is partially correct. Try again. Nash Company has decided to expand its operations. The bookkeeper recently completed the balance sheet presented below in order to obtain additional funds for expansion. $242,500 352,500 413,500 152,500 NASH COMPANY BALANCE SHEET FOR THE YEAR ENDED 2017 Current assets Cash Accounts receivable (net) Inventory (lower-of-average-cost-or-market) Equity investments (trading) at cost (fair value $132,500) Property, plant, and equipment Buildings (net) Equipment (net) Land held for future use Intangible assets Goodwill Cash...
Problem 5-2 Your answer is partially correct. Try again. Presented below are a number of balance...
Problem 5-2 Your answer is partially correct. Try again. Presented below are a number of balance sheet items for Whispering, Inc., for the current year, 2017. Goodwill Payroll Taxes Payable Bonds payable Discount on bonds payable Cash Land Notes receivable Notes payable (to banks) Accounts payable Retained earnings Income taxes receivable Notes payable (long-term) $ 126,320 Accumulated Depreciation Equipment 178,911 Inventory 301,320 Rent payable (short-term) 15,490 Income taxes payable 361,320 Rent payable (long-term) 481,320 Common stock, $1 par value 447,020...
Presented below is a list of accounts in alphabetical order. Accounts Receivable Inventory-Ending Accumulated Depreciation-Buildings Land...
Presented below is a list of accounts in alphabetical
order.
Accounts Receivable
Inventory-Ending
Accumulated
Depreciation-Buildings
Land
Accumulated
Depreciation-Equipment
Land for Future Plant
Site
Accumulated Other
Comprehensive Income
Loss from Flood
Advances to Employees
Noncontrolling Interest
Advertising Expense
Notes Payable (due next
year)
Allowance for Doubtful
Accounts
Paid-in Capital in Excess of
Par-Preferred Stock
Bond Sinking Fund
Patents
Bonds Payable
Payroll Taxes Payable
Buildings
Pension Liability
Cash (in bank)
Petty Cash
Cash (on hand)
Preferred Stock
Cash Surrender Value of Life...
Your answer is partially correct. Presented below is the balance sheet of Grouper Corporation for the...
Your answer is partially correct. Presented below is the balance sheet of Grouper Corporation for the current year, 2020. GROUPER CORPORATION BALANCE SHEET DECEMBER 31, 2020 Current assets $ 489,990 Current liabilities Investments 644,990 Long-term liabilities Property, plant, and equipment 1,724,990 Stockholders' equity Intangible assets 305,000 $3,164,970 $ 384,990 1,004,990 1,774,990 $3,164,970 2. The following information is presented. 1. The current assets section includes cash $154,990, accounts receivable $174,990 less $14,990 for allowance for doubtful accounts, inventories $184,990, and unearned...
Instructions: 1.Discuss individual elemnts and prepare the proper statement of classified balance sheet. 2.what would the...
Instructions: 1.Discuss individual elemnts and prepare the
proper statement of classified balance sheet. 2.what would the
difference beif the company was using perpetual inventory
accounting system ?
D CASH FLOW STATEMENT BALANCE SHES XOX Total PPE Intangible assets Tocal intangible assets Total assets Land Land for future plant site Loss from flood Notes payable (due next year) Patent Payroll taxes payable Pension obligations Petty cash Preferred stock Premium on bonds payable Premium on preferred stock Prepaid rent Purchases Purchase returns...
*Exercise 12-07 Your answer is partially correct. Try again. Terry, Nick, and Frank are forming The...
*Exercise 12-07 Your answer is partially correct. Try again. Terry, Nick, and Frank are forming The Cullumber Partnership. Terry is transferring $30,000 of personal cash and equipment worth $24,500 to the partnership. Nick owns land worth $18,300 and a small building worth $75,700, which he transfers to the partnership. There is a long-term mortgage of $20,500 on the land and building, which the partnership assumes. Frank transfers cash of $7,300, accounts receivable of $36,600, supplies worth $4,000, and equipment worth...
Your answer is partially correct. The following items were taken from the financial statements of Concord...
Your answer is partially correct. The following items were taken from the financial statements of Concord Company. (All amounts are in thousands.) $5,600 1,900 500 Long-term debt Prepaid insurance Equipment Stock investments (long-term) Debt investments (short-term) Notes payable (due in 2023) Cash $900 850 11,400 400 3,800 500 2,900 Accumulated depreciation-equipment Accounts payable Notes payable (due after 2023) Common stock Retained earnings Accounts receivable Inventory 9,750 3,600 2,100 1,300 Prepare a classified balance sheet in good form as of December...
-UN- Assume that Denis Savard Inc. has the following accounts at the end of the current year. 1. Common Stock 14. Accumulated Depreciation-Buildings. 2 Discount on Bonds Payable. 15. Restricted Cash for Plant Expansion Treasury Stock (at cost). 16. Land Held for Future Plant Site. port Notes Payable (short-term). 17. Allowance for Doubtful Accounts. Raw Materials. 18. Retained Earnings. Preferred Stock Investments (long-term). 19. Paid-in Capital in Excess of Par Common Stock. Unearned Rent Revenue. 20. Unearned Subscriptions Revenue. 8....
Assume that Denis Savard Inc. has the following accounts at the end of the current year.1. Common Stock.2. Discount on Bonds Payable.3. Treasury Stock (at cost).4. Notes Payable (short-term).5. Raw Materials.6. Preferred Stock Investments (long-term).7. Unearned Rent Revenue.8. Work in Process.9. Copyrights.10. Buildings.11. Notes Receivable (short-term).12. Cash.13. Salaries and Wages Payable.14. Accumulated Depreciation-Buildings.15. Restricted Cash for Plant Expansion.16. Land Held for Future Plant Site.17. Allowance for Doubtful Accounts.18. Retained Earnings.19. Paid-in Capital in Excess of Par-Common Stock.20. Unearned Subscriptions Revenue.21....
E5-4B (L02,3) (Preparation of a Classified Balance Sheet) Assume that Cluver Inc. has the following accounts at the end ofthe current year. 1. Accrued Salaries Payable. 14. Common Stock 2. Cash Restricted for Plant Expansion. 15. Treasury Stock (at cost). 3. Land Held for Future Plant Site. 16. Raw Materials. 4. Accumulated Depreciation Buildings. 17. Unearned Rent Revenue. 5. Retained Earnings 18. Copyrights. 6. Unearned Subscriptions Revenue. 19. Notes Receivable (short-term). 7. Finished Goods. 20. Cash. 8. Accounts Receivable. 21....
Exercise 5-5 Your answer is partially correct. Try again. Nash Company has decided to expand its operations. The bookkeeper recently completed the balance sheet presented below in order to obtain additional funds for expansion. $242,500 352,500 413,500 152,500 NASH COMPANY BALANCE SHEET FOR THE YEAR ENDED 2017 Current assets Cash Accounts receivable (net) Inventory (lower-of-average-cost-or-market) Equity investments (trading) at cost (fair value $132,500) Property, plant, and equipment Buildings (net) Equipment (net) Land held for future use Intangible assets Goodwill Cash...
Problem 5-2 Your answer is partially correct. Try again. Presented below are a number of balance sheet items for Whispering, Inc., for the current year, 2017. Goodwill Payroll Taxes Payable Bonds payable Discount on bonds payable Cash Land Notes receivable Notes payable (to banks) Accounts payable Retained earnings Income taxes receivable Notes payable (long-term) $ 126,320 Accumulated Depreciation Equipment 178,911 Inventory 301,320 Rent payable (short-term) 15,490 Income taxes payable 361,320 Rent payable (long-term) 481,320 Common stock, $1 par value 447,020...
Presented below is a list of accounts in alphabetical
order.
Accounts Receivable
Inventory-Ending
Accumulated
Depreciation-Buildings
Land
Accumulated
Depreciation-Equipment
Land for Future Plant
Site
Accumulated Other
Comprehensive Income
Loss from Flood
Advances to Employees
Noncontrolling Interest
Advertising Expense
Notes Payable (due next
year)
Allowance for Doubtful
Accounts
Paid-in Capital in Excess of
Par-Preferred Stock
Bond Sinking Fund
Patents
Bonds Payable
Payroll Taxes Payable
Buildings
Pension Liability
Cash (in bank)
Petty Cash
Cash (on hand)
Preferred Stock
Cash Surrender Value of Life...
Your answer is partially correct. Presented below is the balance sheet of Grouper Corporation for the current year, 2020. GROUPER CORPORATION BALANCE SHEET DECEMBER 31, 2020 Current assets $ 489,990 Current liabilities Investments 644,990 Long-term liabilities Property, plant, and equipment 1,724,990 Stockholders' equity Intangible assets 305,000 $3,164,970 $ 384,990 1,004,990 1,774,990 $3,164,970 2. The following information is presented. 1. The current assets section includes cash $154,990, accounts receivable $174,990 less $14,990 for allowance for doubtful accounts, inventories $184,990, and unearned...
Instructions: 1.Discuss individual elemnts and prepare the
proper statement of classified balance sheet. 2.what would the
difference beif the company was using perpetual inventory
accounting system ?
D CASH FLOW STATEMENT BALANCE SHES XOX Total PPE Intangible assets Tocal intangible assets Total assets Land Land for future plant site Loss from flood Notes payable (due next year) Patent Payroll taxes payable Pension obligations Petty cash Preferred stock Premium on bonds payable Premium on preferred stock Prepaid rent Purchases Purchase returns...
*Exercise 12-07 Your answer is partially correct. Try again. Terry, Nick, and Frank are forming The Cullumber Partnership. Terry is transferring $30,000 of personal cash and equipment worth $24,500 to the partnership. Nick owns land worth $18,300 and a small building worth $75,700, which he transfers to the partnership. There is a long-term mortgage of $20,500 on the land and building, which the partnership assumes. Frank transfers cash of $7,300, accounts receivable of $36,600, supplies worth $4,000, and equipment worth...
Your answer is partially correct. The following items were taken from the financial statements of Concord Company. (All amounts are in thousands.) $5,600 1,900 500 Long-term debt Prepaid insurance Equipment Stock investments (long-term) Debt investments (short-term) Notes payable (due in 2023) Cash $900 850 11,400 400 3,800 500 2,900 Accumulated depreciation-equipment Accounts payable Notes payable (due after 2023) Common stock Retained earnings Accounts receivable Inventory 9,750 3,600 2,100 1,300 Prepare a classified balance sheet in good form as of December...
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