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Dreamworld had $ 400 000 in 14% bonds outstanding through both years Dreamworld's capitalized interest in...
On January 1, 2016, Dreamworld Co. began construction of a new warehouse. The building was finished...
On January 1, 2016, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2017. Expenditures on the project were as follows: January 1, 2016 $316,000 September 1, 2016 $462,000 December 31, 2016 $462,000 March 31, 2017 $462,000 September 30, 2017 $316,000 Dreamworld had $5,400,000 in 14% bonds outstanding through both years. Dreamworld's capitalized interest in 2016 was: 2) -------------------------------------------------------------------------------------------- Data related to the inventories of Alpine Ski...
580 2,500 1,800 Seven Corporanion had the following items listed in its trial balance at 12/3...
580 2,500 1,800 Seven Corporanion had the following items listed in its trial balance at 12/3 1/2018: 3,100 11,000 Currency and coins Balance in checking account Customer checks waiting to be deposited Treasury bills, purchased on 11/1/2018 mature on 4/30/2019 Marketable equity securities Commercial paper, purchased on 11/1/2018 mature on 1/30/2019 4,600 What amount will Steven Corporation include in its year-end balance sheet as cash and cash equivalents? $8,190 $9,480. $12,580. $23,580. A. B. C. D. 2. Bond Company adopted...
same question had to scroll Pizza, Inc. provides the following data: 2019 2018 Assets Current Assets:...
same question had to scroll
Pizza, Inc. provides the following data: 2019 2018 Assets Current Assets: Cash and Cash Equivalents Accounts Receivable, Net Merchandise Inventory Total Current Assets Property, Plant, and Equipment, Net Total Assets $31,000 $25,000 38,000 62,000 59,000 50,000 $128,000 137,000 $120,000 120,000 $248,000 $257,000 For the year ending December 31, 2019: Net Credit Sales $540,000 A. 0.69 times B. 1.07 times C. 2.14 times OD. 4.22 times Click to select your answer. is Question: 2 pts VURUVI....
You have been provided with the following selected accounts for Monty Ltd. for the year ended...
You have been provided with the following selected accounts for
Monty Ltd. for the year ended April 30, 2018:
Inventory, May 1, 2017
$578,000
Interest expense
$28,000
Purchases
5,853,000
Interest income
20,000
Accounts receivable
757,000
Accounts payable
589,000
Sales
9,378,000
Administrative expenses
800,000
Purchase discounts
36,000
Selling expenses
141,000
Freight in
117,000
Cash
166,000
Land
919,000
Common shares
195,000
Sales returns and allowances
236,000
Monty conducted a physical inventory count on April 30, 2018.
Inventory on hand at that date...
Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 230,000 Cost...
Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 230,000 Cost of Goods Sold 93,000 Gross Profit 137,000 Operating Expenses: Salaries Expense $ 57,000 Depreciation Expense Plant Assets 28,000 Total Operating Expenses 85,000 Net Income Before Income Taxes 52,000 Income Tax Expense 8,000 $ Net Income 44,000 c. a. Acquisition of plant assets is $118,000. Of this amount, $105,000 is paid in cash and $13,000 by signing a note payable. b. Cash receipt from sale...
15. On May. . Ace Bonding Company purchased inventory costing $2,000 on account. If credit terms...
15. On May. . Ace Bonding Company purchased inventory costing $2,000 on account. If credit terms are 2/10 30 and Ace pays for this inventory on May 30 which of the following records the payment using a perpetual inventory system? A Accounts Payable 2.000 2,000 1.900 40 2.000 2,000 B Accounts Payable Inventory Cash Accounts Payable Inventory Cash D. Cash Accounts Payable 1,960 2,000 16. A company has 10 units of inventory with a recorded cost of $60. If the...
L07-2 Concept Check: Effective Interest Rates Jenks borrowed $13,000,000 from a bank at a 10% rate...
L07-2 Concept Check: Effective Interest Rates Jenks borrowed $13,000,000 from a bank at a 10% rate of interest. The bank requires Jenks to maintain a $3,000,000 compensating balance. What is Jenks' effective interest rate? a. 7.7% b. 10% c. 13% d. 23% advogo LO7-3 Concept Check: Cash Discounts Which of the following is not true about recording cash discounts? a. The gross method records sales discounts taken when payment occurs during the discount period b. The net method records sales...
Flounder Corporation was formed 5 years ago through a public subscription of common stock. Daniel Brown,...
Flounder Corporation was formed 5 years ago through a public subscription of common stock. Daniel Brown, who owns 15% of the common stock, was one of the organizers of Flounder and is its current president. The company has been successful, but it currently is experiencing a shortage of funds. On June 10, 2018, Daniel Brown approached the Topeka National Bank, asking for a 24-month extension on two $35,020 notes, which are due on June 30. 2018. and September 30, 2018....
Concord Corporation was formed 5 years ago through a public subscription of common stock. Daniel Brown,...
Concord Corporation was formed 5 years ago through a public subscription of common stock. Daniel Brown, who owns 15% of the common stock, was one of the organizers of Concord and is its current president. The company has been successful, but it currently is experiencing a shortage of funds. On June 10, 2018, Daniel Brown approached the Topeka National Bank, asking for a 24-month extension on two $35,150 notes, which are due on June 30, 2018, and September 30, 2018....
Culver Corporation was formed 5 years ago through a public subscription of common stock. Daniel Brown,...
Culver Corporation was formed 5 years ago through a public subscription of common stock. Daniel Brown, who owns 15% of the common stock, was one of the organizers of Culver and is its current president. The company has been successful, but it currently is experiencing a shortage of funds. On June 10, 2018, Daniel Brown approached the Topeka National Bank, asking for a 24-month extension on two $35,320 notes, which are due on June 30, 2018, and September 30, 2018....
580 2,500 1,800 Seven Corporanion had the following items listed in its trial balance at 12/3 1/2018: 3,100 11,000 Currency and coins Balance in checking account Customer checks waiting to be deposited Treasury bills, purchased on 11/1/2018 mature on 4/30/2019 Marketable equity securities Commercial paper, purchased on 11/1/2018 mature on 1/30/2019 4,600 What amount will Steven Corporation include in its year-end balance sheet as cash and cash equivalents? $8,190 $9,480. $12,580. $23,580. A. B. C. D. 2. Bond Company adopted...
same question had to scroll
Pizza, Inc. provides the following data: 2019 2018 Assets Current Assets: Cash and Cash Equivalents Accounts Receivable, Net Merchandise Inventory Total Current Assets Property, Plant, and Equipment, Net Total Assets $31,000 $25,000 38,000 62,000 59,000 50,000 $128,000 137,000 $120,000 120,000 $248,000 $257,000 For the year ending December 31, 2019: Net Credit Sales $540,000 A. 0.69 times B. 1.07 times C. 2.14 times OD. 4.22 times Click to select your answer. is Question: 2 pts VURUVI....
You have been provided with the following selected accounts for
Monty Ltd. for the year ended April 30, 2018:
Inventory, May 1, 2017
$578,000
Interest expense
$28,000
Purchases
5,853,000
Interest income
20,000
Accounts receivable
757,000
Accounts payable
589,000
Sales
9,378,000
Administrative expenses
800,000
Purchase discounts
36,000
Selling expenses
141,000
Freight in
117,000
Cash
166,000
Land
919,000
Common shares
195,000
Sales returns and allowances
236,000
Monty conducted a physical inventory count on April 30, 2018.
Inventory on hand at that date...
Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 230,000 Cost of Goods Sold 93,000 Gross Profit 137,000 Operating Expenses: Salaries Expense $ 57,000 Depreciation Expense Plant Assets 28,000 Total Operating Expenses 85,000 Net Income Before Income Taxes 52,000 Income Tax Expense 8,000 $ Net Income 44,000 c. a. Acquisition of plant assets is $118,000. Of this amount, $105,000 is paid in cash and $13,000 by signing a note payable. b. Cash receipt from sale...
15. On May. . Ace Bonding Company purchased inventory costing $2,000 on account. If credit terms are 2/10 30 and Ace pays for this inventory on May 30 which of the following records the payment using a perpetual inventory system? A Accounts Payable 2.000 2,000 1.900 40 2.000 2,000 B Accounts Payable Inventory Cash Accounts Payable Inventory Cash D. Cash Accounts Payable 1,960 2,000 16. A company has 10 units of inventory with a recorded cost of $60. If the...
L07-2 Concept Check: Effective Interest Rates Jenks borrowed $13,000,000 from a bank at a 10% rate of interest. The bank requires Jenks to maintain a $3,000,000 compensating balance. What is Jenks' effective interest rate? a. 7.7% b. 10% c. 13% d. 23% advogo LO7-3 Concept Check: Cash Discounts Which of the following is not true about recording cash discounts? a. The gross method records sales discounts taken when payment occurs during the discount period b. The net method records sales...
Flounder Corporation was formed 5 years ago through a public subscription of common stock. Daniel Brown, who owns 15% of the common stock, was one of the organizers of Flounder and is its current president. The company has been successful, but it currently is experiencing a shortage of funds. On June 10, 2018, Daniel Brown approached the Topeka National Bank, asking for a 24-month extension on two $35,020 notes, which are due on June 30. 2018. and September 30, 2018....
Concord Corporation was formed 5 years ago through a public subscription of common stock. Daniel Brown, who owns 15% of the common stock, was one of the organizers of Concord and is its current president. The company has been successful, but it currently is experiencing a shortage of funds. On June 10, 2018, Daniel Brown approached the Topeka National Bank, asking for a 24-month extension on two $35,150 notes, which are due on June 30, 2018, and September 30, 2018....
Culver Corporation was formed 5 years ago through a public subscription of common stock. Daniel Brown, who owns 15% of the common stock, was one of the organizers of Culver and is its current president. The company has been successful, but it currently is experiencing a shortage of funds. On June 10, 2018, Daniel Brown approached the Topeka National Bank, asking for a 24-month extension on two $35,320 notes, which are due on June 30, 2018, and September 30, 2018....
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