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Sheridan Company Comparative Balance Sheets December 31 Assets 2019 Cash $93,000 Accounts receivable 89,800 Inventory 120,000...
Oakley Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $84,200 $47,000 Accounts receivable 91,200...
Oakley
Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$84,200
$47,000
Accounts receivable
91,200
56,800
Inventory
124,600
102,200
Investments
83,200
85,000
Equipment
256,000
204,000
Accumulated
depreciation—equipment
(50,000
)
(40,000
)
$589,200
$455,000
Liabilities and
Stockholders’ Equity
Accounts payable
$58,400
$48,700
Accrued expenses payable
12,300
18,600
Bonds payable
101,000
71,000
Common stock
249,000
201,000
Retained earnings
168,500
115,700
$589,200
$455,000
Oakley
Company
Income Statement
For the Year Ended December 31, 2020
Sales revenue
$293,400
Gain on disposal of plant...
Oakley Company Comparative Balance Sheets December 31 Assets 2020 Cash $81,800 Accounts receivable 92,400 Inventory 126,800...
Oakley Company Comparative Balance Sheets December 31 Assets 2020 Cash $81,800 Accounts receivable 92,400 Inventory 126,800 Investments 85,700 Equipment 258,000 Accumulated depreciation-equipment (49,900) $594,800 2019 $47,700 57,700 101,100 86,000 208,000 (40,000 $460,500 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings $57,000 12,000 101,000 245.000 179,800 $594,800 $49.000 18,700 71,000 201,000 120,800 $460,500 Oakley Company Income Statement For the Year Ended December 31, 2020 Sales revenue Gain on disposal of plant assets $301,800 8,700...
Problem 12-12A Condensed financial data of Swifty Corporation appear below. Swifty Corporation Comparative Balance Sheets December...
Problem 12-12A Condensed financial data of Swifty Corporation appear below. Swifty Corporation Comparative Balance Sheets December 31 Assets 2019 Cash $91,000 Accounts receivable 89,900 Inventory 121,000 Investments 84,300 Equipment 249,000 Accumulated depreciation equipment (49,200) $586,000 Liabilities and Stockholders' Equity Accounts payable $57,600 Accrued expenses payable 12,500 Bonds payable 102,000 Common stock 250,000 Retained earnings 163,900 $586,000 2018 $47,300 56,300 102,000 87,500 205,000 (39,900) $458,200 $ 48,200 18,600 69,200 191,000 131,200 $458,200 Swifty Corporation Income Statement For the Year Ended December...
Presented below are the financial statements of Sheridan Company. Sheridan Company Comparative Balance Sheets December 31...
Presented below are the financial statements of Sheridan Company. Sheridan Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 52,500 $30,000 21,000 Accounts receivable 30,000 Inventory 42,000 30,000 Property, plant, and equipment Accumulated depreciation 90,000 (48,000) $166,500 117,000 (36,000) $162,000 Total Liabilities and Stockholders' Equity Accounts payable $ 28,500 Income taxes payable 10,500 $ 22,500 12,000 49,500 21,000 Bonds payable 25,500 Common stock 27,000 Retained earnings 75,000 57,000 Total $166,500 $162,000 Sheridan Company Income Statement For the Year...
Pharoah Company Comparative Balance Sheets December 31 Assets 2022 $177,760 2021 $ 106,480 Cash Accounts receivable...
Pharoah Company Comparative Balance Sheets December 31 Assets 2022 $177,760 2021 $ 106,480 Cash Accounts receivable 193,160 83,600 Inventory 247,500 226,270 Prepaid expenses 62,480 57,200 Long-term investments 303,600 239,800 Plant assets 627,000 533,500 Accumulated depreciation (110,000) (114,400 ) Total $1,501,500 $1,132,450 Liabilities and Stockholders' Equity Accounts payable $ 224,400 $ 148,060 Accrued expenses payable 36,300 46,200 Bonds payable 242,000 300 321,200 000 Common stock 484,000 385,000 Retained earnings 514,800 231,990 Total $1,501,500 $1,132,450 Pharoah Company Income Statement Data For the...
SINJH INC. Comparative Balance Sheets December 31 Assets 2012 Cash S 90.800 Accounts receivable 92.800 Inventory...
SINJH INC. Comparative Balance Sheets December 31 Assets 2012 Cash S 90.800 Accounts receivable 92.800 Inventory 112.500 Prepaid expenses 28.400 Investments 138.000 Plant assets 270.000 Accumulated depreciation (50.000) Total $682.500 2011 $ 48.400 33.000 102.850 26.000 114.000) 242.500 (52.000) $514.750 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total S112.000 16.500 110,000 220.000 224.000 S682.500 S 67.300 17.000 150.000 175.000 105.450 S514.750 SINJH INC. Income Statement For the Year Ended December 31, 2012...
GRANGER INC. Comparative Balance Sheets December 31 Assets 2016 Cash Accounts receivable Inventory Prepaid expenses Long-term...
GRANGER INC. Comparative Balance Sheets December 31 Assets 2016 Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable 2017 $ 80,800 87,800 112,500 28,400 138,000 285,000 (50,000) $682,500 $ 48,400 38,000 102,850 26,000 109,000 242,500 (52,000) $514,750 $102,000 16,500 110,000 az $ 67,300 21,000 146,000 ense 4.730 4,730 Less: Cost of goods sold $135,460 Operating expenses, excluding depreciation 12,410 Depreciation expense 46,500 Income tax expense...
The current sections of Sheridan Company's balance sheets at December 31, 2019 and 2020, are presented...
The current sections of Sheridan Company's balance sheets at December 31, 2019 and 2020, are presented here. Sheridan's net income for 2020 was $152,700. Depreciation expense was $24,300. 2019 2018 Current assets Cash Accounts receivable Inventory $107,100 $95,300 109,200 78,300 157,800 171,100 26,100 25,300 $400,200 $370,000 Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable $15,300 $9,900 84,700 95,300 $100,000 $105,200 Total current liabilities Prepare the net cash provided by operating activities section of the company's statement...
Comparative balance sheets for Sunland Company are presented as follows. Sunland Company Comparative Balance Sheets December...
Comparative balance sheets for Sunland Company are presented as follows. Sunland Company Comparative Balance Sheets December 31 Assets 2019 Cash $72,750 Accounts receivable 84,650 Inventory 180,300 Land 75,150 Equipment 249.800 Accumulated depreciation equipment (66,300) Total $596,350 Liabilities and Stockholders' Equity Accounts payable $33.800 Bonds payable 150,100 Common stock ($1 par) 214,300 Retained earnings 198,150 Total $596,350 2018 $21,600 76,600 188.900 101.100 199.700 (42,500) $545,400 $47,850 200,300 164.800 132,450 $545,400 Additional information: 1. Net income for 2019 was $135,300. 2. Cash...
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...
Oakley
Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$84,200
$47,000
Accounts receivable
91,200
56,800
Inventory
124,600
102,200
Investments
83,200
85,000
Equipment
256,000
204,000
Accumulated
depreciation—equipment
(50,000
)
(40,000
)
$589,200
$455,000
Liabilities and
Stockholders’ Equity
Accounts payable
$58,400
$48,700
Accrued expenses payable
12,300
18,600
Bonds payable
101,000
71,000
Common stock
249,000
201,000
Retained earnings
168,500
115,700
$589,200
$455,000
Oakley
Company
Income Statement
For the Year Ended December 31, 2020
Sales revenue
$293,400
Gain on disposal of plant...
Oakley Company Comparative Balance Sheets December 31 Assets 2020 Cash $81,800 Accounts receivable 92,400 Inventory 126,800 Investments 85,700 Equipment 258,000 Accumulated depreciation-equipment (49,900) $594,800 2019 $47,700 57,700 101,100 86,000 208,000 (40,000 $460,500 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings $57,000 12,000 101,000 245.000 179,800 $594,800 $49.000 18,700 71,000 201,000 120,800 $460,500 Oakley Company Income Statement For the Year Ended December 31, 2020 Sales revenue Gain on disposal of plant assets $301,800 8,700...
Problem 12-12A Condensed financial data of Swifty Corporation appear below. Swifty Corporation Comparative Balance Sheets December 31 Assets 2019 Cash $91,000 Accounts receivable 89,900 Inventory 121,000 Investments 84,300 Equipment 249,000 Accumulated depreciation equipment (49,200) $586,000 Liabilities and Stockholders' Equity Accounts payable $57,600 Accrued expenses payable 12,500 Bonds payable 102,000 Common stock 250,000 Retained earnings 163,900 $586,000 2018 $47,300 56,300 102,000 87,500 205,000 (39,900) $458,200 $ 48,200 18,600 69,200 191,000 131,200 $458,200 Swifty Corporation Income Statement For the Year Ended December...
Presented below are the financial statements of Sheridan Company. Sheridan Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 52,500 $30,000 21,000 Accounts receivable 30,000 Inventory 42,000 30,000 Property, plant, and equipment Accumulated depreciation 90,000 (48,000) $166,500 117,000 (36,000) $162,000 Total Liabilities and Stockholders' Equity Accounts payable $ 28,500 Income taxes payable 10,500 $ 22,500 12,000 49,500 21,000 Bonds payable 25,500 Common stock 27,000 Retained earnings 75,000 57,000 Total $166,500 $162,000 Sheridan Company Income Statement For the Year...
Pharoah Company Comparative Balance Sheets December 31 Assets 2022 $177,760 2021 $ 106,480 Cash Accounts receivable 193,160 83,600 Inventory 247,500 226,270 Prepaid expenses 62,480 57,200 Long-term investments 303,600 239,800 Plant assets 627,000 533,500 Accumulated depreciation (110,000) (114,400 ) Total $1,501,500 $1,132,450 Liabilities and Stockholders' Equity Accounts payable $ 224,400 $ 148,060 Accrued expenses payable 36,300 46,200 Bonds payable 242,000 300 321,200 000 Common stock 484,000 385,000 Retained earnings 514,800 231,990 Total $1,501,500 $1,132,450 Pharoah Company Income Statement Data For the...
SINJH INC. Comparative Balance Sheets December 31 Assets 2012 Cash S 90.800 Accounts receivable 92.800 Inventory 112.500 Prepaid expenses 28.400 Investments 138.000 Plant assets 270.000 Accumulated depreciation (50.000) Total $682.500 2011 $ 48.400 33.000 102.850 26.000 114.000) 242.500 (52.000) $514.750 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total S112.000 16.500 110,000 220.000 224.000 S682.500 S 67.300 17.000 150.000 175.000 105.450 S514.750 SINJH INC. Income Statement For the Year Ended December 31, 2012...
GRANGER INC. Comparative Balance Sheets December 31 Assets 2016 Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable 2017 $ 80,800 87,800 112,500 28,400 138,000 285,000 (50,000) $682,500 $ 48,400 38,000 102,850 26,000 109,000 242,500 (52,000) $514,750 $102,000 16,500 110,000 az $ 67,300 21,000 146,000 ense 4.730 4,730 Less: Cost of goods sold $135,460 Operating expenses, excluding depreciation 12,410 Depreciation expense 46,500 Income tax expense...
The current sections of Sheridan Company's balance sheets at December 31, 2019 and 2020, are presented here. Sheridan's net income for 2020 was $152,700. Depreciation expense was $24,300. 2019 2018 Current assets Cash Accounts receivable Inventory $107,100 $95,300 109,200 78,300 157,800 171,100 26,100 25,300 $400,200 $370,000 Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable $15,300 $9,900 84,700 95,300 $100,000 $105,200 Total current liabilities Prepare the net cash provided by operating activities section of the company's statement...
Comparative balance sheets for Sunland Company are presented as follows. Sunland Company Comparative Balance Sheets December 31 Assets 2019 Cash $72,750 Accounts receivable 84,650 Inventory 180,300 Land 75,150 Equipment 249.800 Accumulated depreciation equipment (66,300) Total $596,350 Liabilities and Stockholders' Equity Accounts payable $33.800 Bonds payable 150,100 Common stock ($1 par) 214,300 Retained earnings 198,150 Total $596,350 2018 $21,600 76,600 188.900 101.100 199.700 (42,500) $545,400 $47,850 200,300 164.800 132,450 $545,400 Additional information: 1. Net income for 2019 was $135,300. 2. Cash...
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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