Homework Answers
Ans- The balance sheet is correct there may be an analysis of the balance sheet in the form of current ratio.
Current Ratio= Current Assets/ Current Liabilities
= $77,200/$60,800
=1.27 or 1.3
Explanation -
This ratio indicates that the Cougar Plastics has relatively low liquidity, for every $1 of current liabilities, company maintains only $1.27 of current assets.
OR
It may be related transaction D
No effect was recorded for (d). The agreement in (d) involves no exchange or receipt of cash, goods or services and thus it is not a transaction.
Is both sides of balance sheet are same that there cannot be any doubt.
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s 31,900 Accounts payable Cougar Plastics Company has been operating for three years At December 31...
Where was not complete? s 31,900 Accounts payable Cougar Plastics Company has been operating for three...
Where was not complete?
s 31,900 Accounts payable Cougar Plastics Company has been operating for three years At December 31 of last year, the sccounting records refected the folowing 31,000 2,800 Accrued labäites payable Accounts receivable Equipment 31,800 Accounts payble b. Lent $5,600 to a supplier who signed a two-year note. c Purchased equipment that cost $28.000; paid $5.900 cash and signed a one 60.800 d Hired a new president at the end of the year. The contract was for...
s 31,900 Accounts payable Cougar Plastics Company has been operating for three years At December 3t...
s 31,900 Accounts payable Cougar Plastics Company has been operating for three years At December 3t of last year, the sccounting records refected the folowing 31,000 2,800 Accrued labäites payable Accounts receivable 31,000 Notes payabie long-term Equipment 31,9000 Accounts payble b. Lent $5,600 to a supplier who signed a two-year note. c Purchased equipment that cost $28.000; paid $5,900 cash and signed a one- 60 800 d Hired a new president at the end of the year. The contract was...
Cougar Plastics Company has been operating for three years. At December 31 of last year, the...
Cougar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following: Cash $ 20,000 Accounts payable $ 19,000 Investments (short-term) 3,500 Accrued liabilities payable 2,000 Accounts receivable 4,400 Notes payable (short-term) 5,200 Inventory 30,000 Notes payable (long-term) 49,000 Notes receivable (long-term) 1,400 Common stock 9,300 Equipment 43,000 Additional paid-in capital 83,700 Factory building 101,000 Retained earnings 38,600 Intangibles 3,500 Summarized activities during the year: Purchased short-term investments for $7,800 cash....
Cougar Plastic Company has been operating for three years. At December 31 of last year, the accounting record...
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Jaguar Plastics Company has been operating for three years. At December 31 of last year, the...
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Jaguar Plastics Company has been operating for three years. At December 31 of last year, the...
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Jaguar Plastics Company has been operating for three years. At December 31 of last year, the...
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Where was not complete?
s 31,900 Accounts payable Cougar Plastics Company has been operating for three years At December 31 of last year, the sccounting records refected the folowing 31,000 2,800 Accrued labäites payable Accounts receivable Equipment 31,800 Accounts payble b. Lent $5,600 to a supplier who signed a two-year note. c Purchased equipment that cost $28.000; paid $5.900 cash and signed a one 60.800 d Hired a new president at the end of the year. The contract was for...
s 31,900 Accounts payable Cougar Plastics Company has been operating for three years At December 3t of last year, the sccounting records refected the folowing 31,000 2,800 Accrued labäites payable Accounts receivable 31,000 Notes payabie long-term Equipment 31,9000 Accounts payble b. Lent $5,600 to a supplier who signed a two-year note. c Purchased equipment that cost $28.000; paid $5,900 cash and signed a one- 60 800 d Hired a new president at the end of the year. The contract was...
Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following: Cash Investments (short-term) Accounts receivable Inventory Notes receivable (long-term) Equipment Factory building Intangibles $ 26,000 Accounts payable 2,400 Accrued liabilities payable 4,100 Notes payable (current) 26,000 Notes payable (noncurrent) 1,800 Common stock 53,000 Additional paid-in capital 94,000 Retained earnings 3,700 $ 16,000 2,700 6,200 44,000 9,900 89, 100 43,100 During the current year, the company had the following summarized...
Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following: Cash Investments (short-term) Accounts receivable Inventory Notes receivable (long-term) Equipment Factory building Intangibles $22,000 Accounts payable 3,000 Accrued liabilities payable 3,000 Notes payable (current) 20,000 Notes payable (noncurrent) 1,000 Common stock 50,000 Additional paid-in capital 90,000 Retained earnings $15,000 4,000 7,000 47,000 10,000 80,000 31,000 5,000 During the current year, the company had the following summarized activities: a. Purchased...
Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following: Cash Investments (short-term) Accounts receivable Inventory Notes receivable (long-term) Equipment Factory building Intangibles $19,000 Accounts payable 3,800 Accrued liabilities payable 3,600 Notes payable (current) 24,000 Notes payable (noncurrent) 1,300 Common stock 45,000 Additional paid-in capital 97,000 Retained earnings 3,900 $21,000 3,200 6,700 47,000 9,100 81,900 28,700 During the current year, the company had the following summarized activities: a. Purchased...
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Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following: Cash Investments (short-term) Accounts receivable Inventory Notes receivable (long-term) Equipment Factory building Intangibles $ 26,000 Accounts payable 2,400 Accrued liabilities payable 4,100 Notes payable (current) 26,000 Notes payable (noncurrent) 1,800 Common stock 53,000 Additional paid-in capital 94,000 Retained earnings 3,700 $ 16,000 2,700 6,200 44,000 9,900 89,100 43, 100 During the current year, the company had the following summarized...
Injection Plastics Company has been operating for three years. At December 31, 2017, the accounting records reflected the following: $ Cash Investments (short-term) Accounts receivable Inventories Notes receivable (long-term) Equipment Factory building $ 21,000 Intangibles 2.000 Accounts payable 3,000 Accrued liabilities 24,000 Short-term borrowings 1,000 Notes payable (long-term) 48.000 Contributed capital 90,000 Retained earnings 3,000 15,000 2,000 7,000 48,000 90.000 30,000 During the year 2018, the following summarized transactions were completed: a. Purchased equipment that cost $18,000; paid $6,000 cash...
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