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Blossom Company has these comparative balance sheet data: BLOSSOM COMPANY Balance Sheets December 31 2022 2021...
Blossom Company has these comparative balance sheet data: BLOSSOM COMPANY Balance Sheets December 31 2022 2021...
Blossom Company has these comparative balance sheet data: BLOSSOM COMPANY Balance Sheets December 31 2022 2021 Cash $ 21,630 $43,260 Accounts receivable (net) 100,940 86,520 Inventory 86,520 72,100 Plant assets (net) 288,400 259,560 $497,490 $461,440 $ 72,100 $ 86,520 Accounts payable Mortgage payable (15%) 144,200 144,200 Common stock, $10 par 201,880 173,040 Retained earnings 79,310 57,680 $497,490 $461,440 Additional information for 2022: 1. Net income was $32,400. 2. Sales on account were $376,500. Sales returns and allowances amounted to $26,700....
Current Attempt in Progress Blossom Company has these comparative balance sheet data: BLOSSOM COMPANY Balance Sheets...
Current Attempt in Progress Blossom Company has these comparative balance sheet data: BLOSSOM COMPANY Balance Sheets December 31 2022 2021 Cash Accounts receivable (net) Inventory Plant assets (net) $ 21,630 $43.260 100,940 86,520 86,520 72,100 288.400 259,560 $497.490 $461,440 $ 72,100 $86.520 144,200 144,200 201,880 173,040 Accounts payable Mortgage payable (15%) Common stock, $10 par Retained earnings 79,310 57680 57.00 $461.440 $497,490 Additional information for 2022: 1. Net income was $32,400. 2. Sales on account were $376,500. Sales returns and...
Sheridan Company has these comparative balance sheet data: SHERIDAN COMPANY Balance Sheets December 31 2022 2021...
Sheridan Company has these comparative balance sheet data: SHERIDAN COMPANY Balance Sheets December 31 2022 2021 Cash $ 24,510 $ 49,020 Accounts receivable (net) 114,380 98,040 Inventory 98,040 81,700 Plant assets (net) 326,800 294,120 $563,730 $522,880 $81,700 $98,040 Accounts payable Mortgage payable (15%) 163,400 163,400 Common stock, $10 par Retained earnings 228,760 196,080 89,870 65,360 $563,730 $522,880 Additional information for 2022: Additional information for 2022: 1. Net income was $34,200. 2. Sales on account were $384,100. Sales returns and allowances...
Blossom Company reported the following information for 2022. Blossom Company Comparative Balance Sheets December 31 Change...
Blossom Company reported the following information for 2022. Blossom Company Comparative Balance Sheets December 31 Change Increase/Decrease Assets 2022 2021 Cash $165,200 173,600 123,200 $100,800 61,600 $64,400 Increase 112,000 Increase Accounts receivable Inventory -0- 123,200 Increase Prepaid expenses 16,800 11,200 5,600 Increase Land 154,000 196,000 42,000 Decrease Buildings 560,000 560,000 -0- Accumulated depreciation-buildings (58,800) (39,200) 19,600 Increase Equipment 512,400 (78,400) 190,400 (28,000) 322,000 Increase 50,400 Increase Accumulated depreciation-equipment Totals $1,568,000 $1,052,800 Liabilities and Stockholders' Equity Accounts payable $120,400 $112,000 $8,400...
Shown below are comparative balance sheets for Blossom Company. Blossom Company Comparative Balance Sheets December 31...
Shown below are comparative balance sheets for Blossom Company. Blossom Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 102,000 $ 33,000 Accounts receivable 132,000 114,000 Inventory 250,500 283,500 Land 120,000 150,000 Equipment 390,000 300,000 Accumulated depreciation—equipment (99,000 ) (48,000 ) Total $895,500 $832,500 Liabilities and Stockholders’ Equity Accounts payable $ 58,500 $ 64,500 Bonds payable 225,000 300,000 Common stock ($1 par) 324,000 261,000 Retained earnings 288,000 207,000 Total $895,500 $832,500 Additional information: 1. Net income for 2022...
Lendell Company has these comparative balance sheet data: Lendell Company Balance Sheets December 31 2020 2019...
Lendell Company has these comparative balance sheet data: Lendell Company Balance Sheets December 31 2020 2019 Cash $ 15,000 $ 30,000 Accounts receivable (net) 71,000 60,000 Inventory 61,000 50,000 Plant assets (net) 197,000 175,000 View Policies $344,000 Accounts payable $50,000 $59,200 Mortgage payable (15%) 108,000 108,000 Common stock, $10 par 138,500 124,500 Retained earnings 47,500 23,300 $344,000 $315,000 Additional information for 2020: 1. Net income was $25,700. 2. Sales on account were $412,500. Sales returns and allowances amounted to $19,500....
Blossom Company's balance sheet at December 31, 2021, is presented below. Blossom Company Balance Sheet December...
Blossom Company's balance sheet at December 31, 2021, is presented below. Blossom Company Balance Sheet December 31, 2021 Cash $13,270 Accounts payable $9,520 Accounts receivable 20,200 Common stock 22.000 Allowance for doubtful accounts (790) Retained earnings 10,770 Inventory 9,610 $42,290 $42,290 During January 2022, the following transactions occurred. Blossom uses the perpetual inventory method. Jan. 1 Blossom accepted a 4-month, 8% note from Betheny Company in payment of Betheny's $6,000 account. 3 Blossom wrote off as uncollectible the accounts of...
Exercise 18-09 Lendell Company has these comparative balance sheet data: Lendell Company Balance Sheets December 31...
Exercise 18-09 Lendell Company has these comparative balance sheet data: Lendell Company Balance Sheets December 31 2020 2019 Cash $ 15,000 $30,000 Accounts receivable (net) 71,000 60,000 Inventory 60,000 50,000 Plant assets (net) 196,000 178,000 $342,000 $318,000 Accounts payable $50,000 $59,500 Mortgage payable (15%) 107,500 107,500 Common stock, $10 par 144,000 124,500 Retained earnings 40,500 26,500 $342,000 $318,000 Additional information for 2020: 1. 2. 3. 4. 5. Net income was $25,100. Sales on account were $407,350. Sales returns and allowances...
Blossom Company's balance sheet at December 31, 2021, is presented below. Blossom Company Balance Sheet December...
Blossom Company's balance sheet at December 31, 2021, is presented below. Blossom Company Balance Sheet December 31, 2021 Cash $13,270 Accounts payable $9,520 Accounts receivable 20,200 Common stock 22.000 Allowance for doubtful accounts (790) Retained earnings 10,770 Inventory 9,610 $42,290 $42,290 During January 2022, the following transactions occurred. Blossom uses the perpetual inventory method. Jan. 1 Blossom accepted a 4-month, 8% note from Betheny Company in payment of Betheny's $6,000 account. 3 Blossom wrote off as uncollectible the accounts of...
Presented below are the financial statements of Blossom Company. Blossom Company Comparative Balance Sheets December 31...
Presented below are the financial statements of Blossom
Company.
Blossom Company
Comparative Balance Sheets
December 31
Assets
2022
2021
Cash
$ 98,000
$ 56,000
Accounts receivable
56,000
39,200
Inventory
78,400
56,000
Property, plant, and equipment
168,000
218,400
Accumulated depreciation
(89,600
)
(67,200
)
Total
$310,800
$302,400
Liabilities and Stockholders’ Equity
Accounts payable
$ 53,200
$ 42,000
Income taxes payable
19,600
22,400
Bonds payable
47,600
92,400
Common stock
50,400
39,200
Retained earnings
140,000
106,400
Total
$310,800
$302,400
Blossom Company
Income Statement...
Blossom Company has these comparative balance sheet data: BLOSSOM COMPANY Balance Sheets December 31 2022 2021 Cash $ 21,630 $43,260 Accounts receivable (net) 100,940 86,520 Inventory 86,520 72,100 Plant assets (net) 288,400 259,560 $497,490 $461,440 $ 72,100 $ 86,520 Accounts payable Mortgage payable (15%) 144,200 144,200 Common stock, $10 par 201,880 173,040 Retained earnings 79,310 57,680 $497,490 $461,440 Additional information for 2022: 1. Net income was $32,400. 2. Sales on account were $376,500. Sales returns and allowances amounted to $26,700....
Current Attempt in Progress Blossom Company has these comparative balance sheet data: BLOSSOM COMPANY Balance Sheets December 31 2022 2021 Cash Accounts receivable (net) Inventory Plant assets (net) $ 21,630 $43.260 100,940 86,520 86,520 72,100 288.400 259,560 $497.490 $461,440 $ 72,100 $86.520 144,200 144,200 201,880 173,040 Accounts payable Mortgage payable (15%) Common stock, $10 par Retained earnings 79,310 57680 57.00 $461.440 $497,490 Additional information for 2022: 1. Net income was $32,400. 2. Sales on account were $376,500. Sales returns and...
Sheridan Company has these comparative balance sheet data: SHERIDAN COMPANY Balance Sheets December 31 2022 2021 Cash $ 24,510 $ 49,020 Accounts receivable (net) 114,380 98,040 Inventory 98,040 81,700 Plant assets (net) 326,800 294,120 $563,730 $522,880 $81,700 $98,040 Accounts payable Mortgage payable (15%) 163,400 163,400 Common stock, $10 par Retained earnings 228,760 196,080 89,870 65,360 $563,730 $522,880 Additional information for 2022: Additional information for 2022: 1. Net income was $34,200. 2. Sales on account were $384,100. Sales returns and allowances...
Blossom Company reported the following information for 2022. Blossom Company Comparative Balance Sheets December 31 Change Increase/Decrease Assets 2022 2021 Cash $165,200 173,600 123,200 $100,800 61,600 $64,400 Increase 112,000 Increase Accounts receivable Inventory -0- 123,200 Increase Prepaid expenses 16,800 11,200 5,600 Increase Land 154,000 196,000 42,000 Decrease Buildings 560,000 560,000 -0- Accumulated depreciation-buildings (58,800) (39,200) 19,600 Increase Equipment 512,400 (78,400) 190,400 (28,000) 322,000 Increase 50,400 Increase Accumulated depreciation-equipment Totals $1,568,000 $1,052,800 Liabilities and Stockholders' Equity Accounts payable $120,400 $112,000 $8,400...
Lendell Company has these comparative balance sheet data: Lendell Company Balance Sheets December 31 2020 2019 Cash $ 15,000 $ 30,000 Accounts receivable (net) 71,000 60,000 Inventory 61,000 50,000 Plant assets (net) 197,000 175,000 View Policies $344,000 Accounts payable $50,000 $59,200 Mortgage payable (15%) 108,000 108,000 Common stock, $10 par 138,500 124,500 Retained earnings 47,500 23,300 $344,000 $315,000 Additional information for 2020: 1. Net income was $25,700. 2. Sales on account were $412,500. Sales returns and allowances amounted to $19,500....
Blossom Company's balance sheet at December 31, 2021, is presented below. Blossom Company Balance Sheet December 31, 2021 Cash $13,270 Accounts payable $9,520 Accounts receivable 20,200 Common stock 22.000 Allowance for doubtful accounts (790) Retained earnings 10,770 Inventory 9,610 $42,290 $42,290 During January 2022, the following transactions occurred. Blossom uses the perpetual inventory method. Jan. 1 Blossom accepted a 4-month, 8% note from Betheny Company in payment of Betheny's $6,000 account. 3 Blossom wrote off as uncollectible the accounts of...
Exercise 18-09 Lendell Company has these comparative balance sheet data: Lendell Company Balance Sheets December 31 2020 2019 Cash $ 15,000 $30,000 Accounts receivable (net) 71,000 60,000 Inventory 60,000 50,000 Plant assets (net) 196,000 178,000 $342,000 $318,000 Accounts payable $50,000 $59,500 Mortgage payable (15%) 107,500 107,500 Common stock, $10 par 144,000 124,500 Retained earnings 40,500 26,500 $342,000 $318,000 Additional information for 2020: 1. 2. 3. 4. 5. Net income was $25,100. Sales on account were $407,350. Sales returns and allowances...
Blossom Company's balance sheet at December 31, 2021, is presented below. Blossom Company Balance Sheet December 31, 2021 Cash $13,270 Accounts payable $9,520 Accounts receivable 20,200 Common stock 22.000 Allowance for doubtful accounts (790) Retained earnings 10,770 Inventory 9,610 $42,290 $42,290 During January 2022, the following transactions occurred. Blossom uses the perpetual inventory method. Jan. 1 Blossom accepted a 4-month, 8% note from Betheny Company in payment of Betheny's $6,000 account. 3 Blossom wrote off as uncollectible the accounts of...
Presented below are the financial statements of Blossom
Company.
Blossom Company
Comparative Balance Sheets
December 31
Assets
2022
2021
Cash
$ 98,000
$ 56,000
Accounts receivable
56,000
39,200
Inventory
78,400
56,000
Property, plant, and equipment
168,000
218,400
Accumulated depreciation
(89,600
)
(67,200
)
Total
$310,800
$302,400
Liabilities and Stockholders’ Equity
Accounts payable
$ 53,200
$ 42,000
Income taxes payable
19,600
22,400
Bonds payable
47,600
92,400
Common stock
50,400
39,200
Retained earnings
140,000
106,400
Total
$310,800
$302,400
Blossom Company
Income Statement...
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