Homework Answers
Current Assets means cash and other current assets that can be converted into cash within a year. They usually contains of following items cash & cash equivalents, short term investments, Net receivables, Inventory and other current Assets.
Therefore the amount of current Assets is $64,040
Accounts Receivable = 9350
Cash = 23490
Inventory = 31200
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Required information Equipment Soltware Logo and Tradersarka Total Aueh Llabitles and Stockholdern" Equlty Iilled $10.200 10,200...
Willette Company reported the following information at December 31, Year 1: What is the amount of...
Willette Company reported the following information at December
31, Year 1:
What is the amount of current assets on the classified balance
sheet?
Knowledge Check 01 Willette Company reported the following information at December 31, Year 1: Accounts Payable Accounts Receivable Cash Common Stock Equipment Inventory Notes Payable due December 31, Year 3 Retained Earnings, December 31, Year 1 Salaries and Wages Payable $ 4,500 9,350 23,490 90,000 49,500 31,200 2,500 14,090 2,450 What is the amount of current assets...
Accounts payable $ 4,500 Accounts receivable 9.350 Cash 23,490 Common stock 90,000 Equipment 49,500 Inventory 31,...
Accounts payable $ 4,500 Accounts receivable 9.350 Cash 23,490 Common stock 90,000 Equipment 49,500 Inventory 31, 200 Notes payable, due June, 2021 2500 Retained earnings, Jun 30, 2018 14,090 Wages payable 2.450 What is the amount of current assets on the classified balance sheet? Multiple Choice $64,040. o $13,540. o $82170. c S32,840
Assets Cash Accounts receivable Inventory Prepaid expensers Total current assets Equipment Accum. depreciation-Equipment Total assets 67,900...
Assets Cash Accounts receivable Inventory Prepaid expensers Total current assets Equipment Accum. depreciation-Equipment Total assets 67,900 85,500 62, 625 293,656 263,800 2,135 446,776414, 060 120,000 83,890 1,330 145,500 (42,625) (52,000) $549,651 $482,060 Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term notes payable Total liabilities Equity Common stock, $5 par value Paid-in capital in excess of par, common stock Retained earnings Total liabilities and equity 65,141 $132, 675 8,400 141,075 59,000 60,750 13, 600 78,741 7.741 201,...
The trial balance of Larkspur Wholesale Company contained the following accounts shown at December 31, the...
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Required information [The following information applies to the questions displayed below.] The adjusted trial balance...
Required information [The following information applies to the questions displayed below.] The adjusted trial balance for Chiara Company as of December 31, 2017, follows. Debit Credit Cash $ 176,900 Accounts receivable 51,000 Interest receivable 22,600 Notes receivable (due in 90 days) 172,000 Office supplies 16,000 Automobiles 172,000 Accumulated depreciation—Automobiles $ 95,000 Equipment 136,000 Accumulated depreciation—Equipment 21,000 Land 78,000 Accounts payable 92,000 Interest payable 20,000 Salaries payable 17,000 Unearned fees 40,000 Long-term notes payable 156,000 Common stock 29,580 Retained earnings...
Show calculations if applicable: 12 Required information (The following information applies to the questions displayed below.]...
Show calculations if applicable:
12 Required information (The following information applies to the questions displayed below.] 0.83 points eBook Forten Company's current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) Other Expenses are paid in advance and...
Brar Maintenance Company showed the following adjusted trial balance information for its December 31, 2020, year-end....
Brar Maintenance Company showed the following adjusted trial balance information for its December 31, 2020, year-end. Account Accounts payable Accounts receivable Accum. deprec., building Accum. deprec., machinery Allowance for doubtful accounts Building Cash Estimated warranty liabilities Income taxes payable Income tax expense Interest payable Balance1 Account $ 43,500 Interest receivable 37,800 Jake Brar, capital 364,000 Land 137,000 Machinery 2,900 Merchandise inventory 538,000 Notes payable? 20,100 Notes receivable, due 2021 12,100 Operating expenses 8,900 Prepaid rent 120,400 Revenue 710 Unearned revenue...
Required information (The following information applies to the questions displayed below. The December 31, 2021, adjusted...
Required information (The following information applies to the questions displayed below. The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 10,200 132,000 4,200 21,000 220,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense $117,000 10,200 9, 200 3,200 22,000 120,000 42,000 320,000 220,000...
ezto.mheducation.com/hm.tpx The items making up the statement of financial position of Rankin Truck Rental at December...
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Required information (The following information applies to the questions displayed below.] Part 1 of 4 Ken...
Required information (The following information applies to the questions displayed below.] Part 1 of 4 Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $41,000 cash to start the business and received 4,000 shares of stock. The store completed its first year of operations on December 31, 2017. On that date, the following financial items for the year were determined: cash on hand and in the bank, $36,500; amounts due from customers from sales of books,...
Willette Company reported the following information at December
31, Year 1:
What is the amount of current assets on the classified balance
sheet?
Knowledge Check 01 Willette Company reported the following information at December 31, Year 1: Accounts Payable Accounts Receivable Cash Common Stock Equipment Inventory Notes Payable due December 31, Year 3 Retained Earnings, December 31, Year 1 Salaries and Wages Payable $ 4,500 9,350 23,490 90,000 49,500 31,200 2,500 14,090 2,450 What is the amount of current assets...
Accounts payable $ 4,500 Accounts receivable 9.350 Cash 23,490 Common stock 90,000 Equipment 49,500 Inventory 31, 200 Notes payable, due June, 2021 2500 Retained earnings, Jun 30, 2018 14,090 Wages payable 2.450 What is the amount of current assets on the classified balance sheet? Multiple Choice $64,040. o $13,540. o $82170. c S32,840
Assets Cash Accounts receivable Inventory Prepaid expensers Total current assets Equipment Accum. depreciation-Equipment Total assets 67,900 85,500 62, 625 293,656 263,800 2,135 446,776414, 060 120,000 83,890 1,330 145,500 (42,625) (52,000) $549,651 $482,060 Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term notes payable Total liabilities Equity Common stock, $5 par value Paid-in capital in excess of par, common stock Retained earnings Total liabilities and equity 65,141 $132, 675 8,400 141,075 59,000 60,750 13, 600 78,741 7.741 201,...
The trial balance of Larkspur Wholesale Company contained the following accounts shown at December 31, the end of the company's fiscal year. LARKSPUR WHOLESALE COMPANY Trial Balance December 31,2022 Cash Accounts Receivable Inventory Land Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Debit Credit $33,400 39,600 70,800 90,800 198,800 $ 58,800 82,300 39,300 53,500 16,300 158,800 66,000 8,800 920,900 4,800 708,700 50,100 10.200 7,700 4,000 3,600 $1,313,600 $1,313,600 Retained Earnings Dividends Sales Revenue Sales Discounts Cost...
Show calculations if applicable:
12 Required information (The following information applies to the questions displayed below.] 0.83 points eBook Forten Company's current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) Other Expenses are paid in advance and...
Brar Maintenance Company showed the following adjusted trial balance information for its December 31, 2020, year-end. Account Accounts payable Accounts receivable Accum. deprec., building Accum. deprec., machinery Allowance for doubtful accounts Building Cash Estimated warranty liabilities Income taxes payable Income tax expense Interest payable Balance1 Account $ 43,500 Interest receivable 37,800 Jake Brar, capital 364,000 Land 137,000 Machinery 2,900 Merchandise inventory 538,000 Notes payable? 20,100 Notes receivable, due 2021 12,100 Operating expenses 8,900 Prepaid rent 120,400 Revenue 710 Unearned revenue...
Required information (The following information applies to the questions displayed below. The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 10,200 132,000 4,200 21,000 220,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense $117,000 10,200 9, 200 3,200 22,000 120,000 42,000 320,000 220,000...
ezto.mheducation.com/hm.tpx The items making up the statement of financial position of Rankin Truck Rental at December 31 are listed below in tabular form similar to the illustration of the accounting equation in Exhibit 2-11 Assets Liabilities + Equity Accounts Office Notes Accounts Share Cash + Receivable + Trucks + Equipment = Payable + Payable + Capital Balances $9,500 $13,900 $68,000 $3,800 $20,000 $10.200 $65,000 During a short period after December 31, Rankin Truck Rental had the following transactions: 1. Bought...
Required information (The following information applies to the questions displayed below.] Part 1 of 4 Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $41,000 cash to start the business and received 4,000 shares of stock. The store completed its first year of operations on December 31, 2017. On that date, the following financial items for the year were determined: cash on hand and in the bank, $36,500; amounts due from customers from sales of books,...
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