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Construct a balance sheet from the following information. Accrued interest payable Accumulated depreciation Trade accounts payable...
Partial Information Accounts Payable Accounts Receivable Accrued Liabilities Accumulated Depreciation Before Tax #s 255,000 650,000 750,000...
Partial Information Accounts Payable Accounts Receivable Accrued Liabilities Accumulated Depreciation Before Tax #s 255,000 650,000 750,000 252,000 10,000 Add. PIC - CIS Add. PIC-PIS Allowance for Doubtful Accounts 15,000 25,000 Amortization Expense - Patent Office Supplies Expense Bonds Payable 100,000 1.200,000 350,000 Cash Common Stock Customer Deposits 3,500,000 3,583,000 600,000 Cost of Goods Sold Depreciation Expense Discontinued Operations (Loss) 700,000 450,000 400,000 Discounts on Notes Payable Dividend Revenue 5.000 65.000 Loss on Sale of Equipment interest Expense 800,000 88.000 Interest...
QUESTION: Complete a final balance sheet. With information from the following information below. There is the...
QUESTION: Complete a final balance sheet. With information from
the following information below. There is the t-account following
trial balance information for the final balance sheet.
Thank you
8:08 Done COMPREHNSIVE PROBLEM PART... The Part 1 Part 2 - T-accounts 3. Adiusted Trial Balance Cash SI 067.000 $206,700 Accounts Receivable S10.000 Prepaid Insurance $24,000 Inventory $10,000 ABC, Inc. Adjusted Trial Balance As of June 30 20XX S25.6081 $320,100 $24,000 S10,000 $22.000 $20,000 1.500 $2.000 Building $320,100 Equipment S106,700 Debit 914,692...
Retained earnings and balance sheet data: Accounts payable $194,300 Accounts receivable 545,000 Accumulated depreciation—office buildings and equipment...
Retained earnings and balance sheet data: Accounts payable $194,300 Accounts receivable 545,000 Accumulated depreciation—office buildings and equipment 1,580,000 Accumulated depreciation—store buildings and equipment 4,126,000 Allowance for doubtful accounts 8,450 Bonds payable, 5%, due in 10 years 500,000 Cash 282,850 Common stock, $20 par (400,000 shares authorized; 85,000 shares issued, 94,600 outstanding), January 1, 20Y8 1,700,000 Dividends: Cash dividends for common stock 155,120 Cash dividends for preferred stock 100,000 Goodwill 700,000 Income tax payable 44,000 Interest receivable 1,200 Inventory (December 31, 20Y8), at lower...
Chapter 5-Balance Sheet Using the following information, prepare a Classified Balance Sheet Accounts Payable Accounts Receivable...
Chapter 5-Balance Sheet Using the following information, prepare a Classified Balance Sheet Accounts Payable Accounts Receivable $19,4 82460Office Equipment 7.900 Office Supplies 23,00 18,75 Accumulated Depreciation Office Equipment Accumulated Depreciation Store Administrative Expenses Allowance for Doubtful Accounts 32,000 Revenue 68,19 28,980 36,000Sales ed Earnings Payable Ex Cost of Merchandise Sold Common Stock 9,09 42,780 nterest Expense 800 Equipment 25,100 nearned Rent Merchandise Inventory Notes Payable (due in two years) 20 Total Current Assets Net Property, Plant, & Equipment I Assets...
Presented are selected accounts from the adjusted trial balance of Uhura Company at December 31, 2020....
Presented are selected accounts from the adjusted trial balance of Uhura Company at December 31, 2020. All balances are normal. Cash $230,000 Accounts receivable 357,000 Allowance for doubtful accounts 17,000 Inventory (market value $408,000) 401,000 Equity investments - marketable, short-term (fair value $120,000) 140,000 Fair value adjustment – equity investments (20,000) Buildings 730,000 Equipment 265,000 Accumulated depreciation – buildings 160,000 Accumulated depreciation – equipment 125,000 Land held for future use 175,000 Goodwill 80,000 Cash surrender value of life insurance 90,000...
Credits Account Title Debits 30,000 15,000 Cash Accounts receivable Equipment Accumulated depreciation Salaries payable 20,000 6,000...
Credits Account Title Debits 30,000 15,000 Cash Accounts receivable Equipment Accumulated depreciation Salaries payable 20,000 6,000 9,000 40,500 9,500 65,000 Common stock Retained earnings Total 65,000 The following is a summary of the transactions for the year: a. Service revenue, $100,000, of which $30,000 was on account and the balance was received in cash. b. Collected on accounts receivable, $27,300. c. Issued shares of common stock in exchange for $10,000 in cash. d. Paid salaries, $50,000 (of which $9,000 was...
Credits Debits 30,000 15,000 20,000 Account Title Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common...
Credits Debits 30,000 15,000 20,000 Account Title Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 6,000 9,000 40,500 9,500 65,000 65,000 The following is a summary of the transactions for the year: a. Service revenue, $100,000, of which $30,000 was on account and the balance was received in cash. b. Collected on accounts receivable, $27,300. c. Issued shares of common stock in exchange for $10,000 in cash. d. Paid salaries, $50,000 (of which $9,000 was...
The accounts receivable balance on the balance sheet should be ‘net of allowance for doubtful accounts’....
The accounts receivable balance on the balance sheet should be
‘net of allowance for doubtful accounts’. Resulting in a net
balance of $100,000. Total assists and total liabilities plus
equity balances should equal $810,000.
Problem 1 (Textbook Reference: Pl-4A)-Financial Accounting Review Problem The Homer Company uses the perpetual inventory procedure. The 2013 balance sheet of the Homer Company is as follows Homer Company Balance Sheet December 31, 2013 Assets Current Assets: Cash Accounts receivable, net Inventory Prepaid Expenses S 60,000...
Problem 12 Using the following information, prepare a balance sheet on December 31, 20X7, for the...
Problem 12 Using the following information, prepare a balance sheet on December 31, 20X7, for the Summer Resort, a proprietorship owned by Stan Robins. The statement of owner's equity prepared for the year ended December 31, 20X7, shows a total of $97,000. The asset and liability bookkeeping accounts show the following balances on December 31, 20X7: Accumulated Depreciation on Equipment $ 5,000 Accounts Receivable 9,000 Cost of Furniture 40,000 Cost of Equipment 10,000 Accumulated Depreciation on Building 20,000 Accumulated Depreciation...
P2-3 Recording Transactions in T-Accounts, Preparing the Balance Sheet from a Trial Balance, and Evaluating the...
P2-3 Recording Transactions in T-Accounts, Preparing the Balance Sheet from a Trial Balance, and Evaluating the Current Ratio LO2-2, 2-4, 2-5 The following information applies to the questions displayed below.] Cougar 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 $15,000 4,000 7,000 47,000 10,000 80,000 31,000 3,000 3,000 Accrued liabilities payable Notes...
Partial Information Accounts Payable Accounts Receivable Accrued Liabilities Accumulated Depreciation Before Tax #s 255,000 650,000 750,000 252,000 10,000 Add. PIC - CIS Add. PIC-PIS Allowance for Doubtful Accounts 15,000 25,000 Amortization Expense - Patent Office Supplies Expense Bonds Payable 100,000 1.200,000 350,000 Cash Common Stock Customer Deposits 3,500,000 3,583,000 600,000 Cost of Goods Sold Depreciation Expense Discontinued Operations (Loss) 700,000 450,000 400,000 Discounts on Notes Payable Dividend Revenue 5.000 65.000 Loss on Sale of Equipment interest Expense 800,000 88.000 Interest...
QUESTION: Complete a final balance sheet. With information from
the following information below. There is the t-account following
trial balance information for the final balance sheet.
Thank you
8:08 Done COMPREHNSIVE PROBLEM PART... The Part 1 Part 2 - T-accounts 3. Adiusted Trial Balance Cash SI 067.000 $206,700 Accounts Receivable S10.000 Prepaid Insurance $24,000 Inventory $10,000 ABC, Inc. Adjusted Trial Balance As of June 30 20XX S25.6081 $320,100 $24,000 S10,000 $22.000 $20,000 1.500 $2.000 Building $320,100 Equipment S106,700 Debit 914,692...
Chapter 5-Balance Sheet Using the following information, prepare a Classified Balance Sheet Accounts Payable Accounts Receivable $19,4 82460Office Equipment 7.900 Office Supplies 23,00 18,75 Accumulated Depreciation Office Equipment Accumulated Depreciation Store Administrative Expenses Allowance for Doubtful Accounts 32,000 Revenue 68,19 28,980 36,000Sales ed Earnings Payable Ex Cost of Merchandise Sold Common Stock 9,09 42,780 nterest Expense 800 Equipment 25,100 nearned Rent Merchandise Inventory Notes Payable (due in two years) 20 Total Current Assets Net Property, Plant, & Equipment I Assets...
Credits Account Title Debits 30,000 15,000 Cash Accounts receivable Equipment Accumulated depreciation Salaries payable 20,000 6,000 9,000 40,500 9,500 65,000 Common stock Retained earnings Total 65,000 The following is a summary of the transactions for the year: a. Service revenue, $100,000, of which $30,000 was on account and the balance was received in cash. b. Collected on accounts receivable, $27,300. c. Issued shares of common stock in exchange for $10,000 in cash. d. Paid salaries, $50,000 (of which $9,000 was...
Credits Debits 30,000 15,000 20,000 Account Title Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 6,000 9,000 40,500 9,500 65,000 65,000 The following is a summary of the transactions for the year: a. Service revenue, $100,000, of which $30,000 was on account and the balance was received in cash. b. Collected on accounts receivable, $27,300. c. Issued shares of common stock in exchange for $10,000 in cash. d. Paid salaries, $50,000 (of which $9,000 was...
The accounts receivable balance on the balance sheet should be
‘net of allowance for doubtful accounts’. Resulting in a net
balance of $100,000. Total assists and total liabilities plus
equity balances should equal $810,000.
Problem 1 (Textbook Reference: Pl-4A)-Financial Accounting Review Problem The Homer Company uses the perpetual inventory procedure. The 2013 balance sheet of the Homer Company is as follows Homer Company Balance Sheet December 31, 2013 Assets Current Assets: Cash Accounts receivable, net Inventory Prepaid Expenses S 60,000...
Problem 12 Using the following information, prepare a balance sheet on December 31, 20X7, for the Summer Resort, a proprietorship owned by Stan Robins. The statement of owner's equity prepared for the year ended December 31, 20X7, shows a total of $97,000. The asset and liability bookkeeping accounts show the following balances on December 31, 20X7: Accumulated Depreciation on Equipment $ 5,000 Accounts Receivable 9,000 Cost of Furniture 40,000 Cost of Equipment 10,000 Accumulated Depreciation on Building 20,000 Accumulated Depreciation...
P2-3 Recording Transactions in T-Accounts, Preparing the Balance Sheet from a Trial Balance, and Evaluating the Current Ratio LO2-2, 2-4, 2-5 The following information applies to the questions displayed below.] Cougar 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 $15,000 4,000 7,000 47,000 10,000 80,000 31,000 3,000 3,000 Accrued liabilities payable Notes...
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