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Exercise 124 27,08 2017 2016 $105.315 %99 89,267 172,51 168, 504 Prepaid expenses Total current assets...
Exercise 12-4 The current sections of Shamrock, Inc.’s balance sheets at December 31, 2016 and 2017,...
Exercise 12-4 The current sections of Shamrock, Inc.’s balance sheets at December 31, 2016 and 2017, are presented here. Shamrock, Inc.’s net income for 2017 was $153,612. Depreciation expense was $27,108. 2017 2016 Current assets Cash $105,420 $ 99,396 Accounts receivable 80,320 89,356 Inventory 168,672 172,688 Prepaid expenses 27,108 22,088 Total current assets $381,520 $383,528 Current liabilities Accrued expenses payable $ 15,060 $ 5,020 Accounts payable 85,340 92,368 Total current liabilities $100,400 $ 97,388 Prepare the net cash provided (used)...
Exercise 23-11 Condensed financial data of Grouper Company for 2017 and 2016 are presented belos GROUPER...
Exercise 23-11 Condensed financial data of Grouper Company for 2017 and 2016 are presented belos GROUPER COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2017 Cash $1,830 Receivables 1,710 Inventory 1,590 Plant assets 1,890 Accumulated depreciation (1,220) Long-term investments (held-to-maturity) 1,320 $7,120 2016 $1,180 1,320 1.920 1.710 (1,190 ) 1,440 $6,380 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,190 210 1,400 1,940 2.380 57,120 $890 260 1,580 1,660 1.990 $6,380 GROUPER COMPANY INCOME STATEMENT...
The current sections of Sunn Inc.'s balance sheets at December 31, 2016 and 2017, are presented...
The current sections of Sunn Inc.'s balance sheets at December 31, 2016 and 2017, are presented here. Sunn Inc.'s net income for 2017 was $153,000. Depreciation expense was $27,000 2017 2016 Current assets Cash Accounts receivable Inventory Prepaid expenses $105,000 80,000 168,000 27,000 $380,000 $99,000 89,000 172,000 22,000 $382,000 Total current assets Current liabilities Accrued expenses payable Accounts payable $15,000 85,000 $100,000 $5,000 92,000 $97,000 Total current liabilities Prepare the net cash provided (used) by operating activitles section of the...
Condensed financial data of Blue Company for 2017 and 2016 are presented below. Additional information: During...
Condensed financial data of Blue Company for 2017 and 2016 are
presented below.
Additional information:
During the year, $70 of common stock was issued in exchange for
plant assets. No plant assets were sold in 2017.
Prepare a statement of cash flows using the indirect method.
BLUE COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2017 2016 Cash $1,780 $1,170 Receivables 1,760 1,280 Inventory 1,620 1,880 Plant assets 1,910 1,670 Accumulated depreciation (1,210) (1,160 ) Long-term investments...
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 current sections of Scoggin Inc.'s balance sheet at December 31, 2016 and 2017, are presented...
The current sections of Scoggin Inc.'s balance sheet at December 31, 2016 and 2017, are presented here. Scoggin's net income for 2017 was $153,000. Depreciation expense was $24,000 2017 2016 Current assets Cash $105,000 $99,000 Accounts Receivable 110,000 89,000 Inventory 158,000 172,000 Prepaid expenses 27,000 23,000 Total current assets $400,000 $ 382,000 Current Liabilities Accrued expense possible $15,000 $. 5,000 Accounts payable 85,000 92,000 Total current liabilities. $100,000 $ 97,000 Prepare the net cash provided by operating activities section on...
Condensed tinancial data of Coronado Company for 2017 and 2016 are presented below. 2016 $1,160 CORONADO...
Condensed tinancial data of Coronado Company for 2017 and 2016 are presented below. 2016 $1,160 CORONADO COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2017 Cash $1,770 Receivables 1,740 Inventory 1,620 Plant assets 1,930 Accumulated depreciation (1,250 ) Long-term investments (held-to-maturity) 1,290 $7,100 1,280 1,880 1,670 (1,190) 1,420 $6,220 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,220 190 1,370 1,930 2,390 $7,100 $920 240 1,570 1,730 1.760 $6,220 CORONADO COMPANY INCOME STATEMENT FOR THE...
Riverbed Corp Income Statement For the Year Ended November 30, 2017 $7,633,800 $1,898,800 4,453,200 6,352,000 1,575,300...
Riverbed Corp Income Statement For the Year Ended November 30, 2017 $7,633,800 $1,898,800 4,453,200 6,352,000 1,575,300 Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory Total cost of goods sold Gross profit Operating expenses Selling expenses Administrative expenses Net income 4,776,700 2,857,100 452,400 704,900 1,157,300 $1,699,800 Additional information 1 Accounts receivable decreased $377,800 during the year, and inventory decreased $323,500 2. Prepaid expenses increased $148, 100 during the year 3. Accounts payable to suppliers...
2016 IKIBAN INC. Comparative Balance Sheets June 30, 2017 and 2016 2017 Assets Cash $ 97,900...
2016 IKIBAN INC. Comparative Balance Sheets June 30, 2017 and 2016 2017 Assets Cash $ 97,900 Accounts receivable, net 89,000 Inventory 79, 800 Prepaid expenses 6,000 Total current assets 272,700 Equipment 140,000 Accum. depreciation-Equipment (35,000) Total assets $377,700 Liabilities and Equity Accounts payable $ 41,000 Wages payable 7,600 Income taxes payable 5,000 Total current liabilities 53,600 Notes payable (long term) 46,000 Total liabilities 99,600 Equity Common stock, $5 par value 252,000 Retained earnings 26,100 Total liabilities and equity $377, 700...
Exercise 23-12 Condensed financial data of Stellar Company for 2017 and 2016 are present STELLAR COMPANY...
Exercise 23-12 Condensed financial data of Stellar Company for 2017 and 2016 are present STELLAR COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 Cash Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) 2017 $1,780 1,750 1,590 1,940 (1,190) 1,300 $7,170 2016 $1,120 1,300 1,940 1,670 (1,140 ) 1,400 $6,290 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,220 190 1,380 1,920 2,460 $7,170 $880 250 1,570 1,730 1,860 $6,290 STELLAR COMPANY INCOME STATEMENT FOR...
Exercise 23-11 Condensed financial data of Grouper Company for 2017 and 2016 are presented belos GROUPER COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2017 Cash $1,830 Receivables 1,710 Inventory 1,590 Plant assets 1,890 Accumulated depreciation (1,220) Long-term investments (held-to-maturity) 1,320 $7,120 2016 $1,180 1,320 1.920 1.710 (1,190 ) 1,440 $6,380 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,190 210 1,400 1,940 2.380 57,120 $890 260 1,580 1,660 1.990 $6,380 GROUPER COMPANY INCOME STATEMENT...
The current sections of Sunn Inc.'s balance sheets at December 31, 2016 and 2017, are presented here. Sunn Inc.'s net income for 2017 was $153,000. Depreciation expense was $27,000 2017 2016 Current assets Cash Accounts receivable Inventory Prepaid expenses $105,000 80,000 168,000 27,000 $380,000 $99,000 89,000 172,000 22,000 $382,000 Total current assets Current liabilities Accrued expenses payable Accounts payable $15,000 85,000 $100,000 $5,000 92,000 $97,000 Total current liabilities Prepare the net cash provided (used) by operating activitles section of the...
Condensed financial data of Blue Company for 2017 and 2016 are
presented below.
Additional information:
During the year, $70 of common stock was issued in exchange for
plant assets. No plant assets were sold in 2017.
Prepare a statement of cash flows using the indirect method.
BLUE COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2017 2016 Cash $1,780 $1,170 Receivables 1,760 1,280 Inventory 1,620 1,880 Plant assets 1,910 1,670 Accumulated depreciation (1,210) (1,160 ) Long-term investments...
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,...
Condensed tinancial data of Coronado Company for 2017 and 2016 are presented below. 2016 $1,160 CORONADO COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2017 Cash $1,770 Receivables 1,740 Inventory 1,620 Plant assets 1,930 Accumulated depreciation (1,250 ) Long-term investments (held-to-maturity) 1,290 $7,100 1,280 1,880 1,670 (1,190) 1,420 $6,220 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,220 190 1,370 1,930 2,390 $7,100 $920 240 1,570 1,730 1.760 $6,220 CORONADO COMPANY INCOME STATEMENT FOR THE...
Riverbed Corp Income Statement For the Year Ended November 30, 2017 $7,633,800 $1,898,800 4,453,200 6,352,000 1,575,300 Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory Total cost of goods sold Gross profit Operating expenses Selling expenses Administrative expenses Net income 4,776,700 2,857,100 452,400 704,900 1,157,300 $1,699,800 Additional information 1 Accounts receivable decreased $377,800 during the year, and inventory decreased $323,500 2. Prepaid expenses increased $148, 100 during the year 3. Accounts payable to suppliers...
2016 IKIBAN INC. Comparative Balance Sheets June 30, 2017 and 2016 2017 Assets Cash $ 97,900 Accounts receivable, net 89,000 Inventory 79, 800 Prepaid expenses 6,000 Total current assets 272,700 Equipment 140,000 Accum. depreciation-Equipment (35,000) Total assets $377,700 Liabilities and Equity Accounts payable $ 41,000 Wages payable 7,600 Income taxes payable 5,000 Total current liabilities 53,600 Notes payable (long term) 46,000 Total liabilities 99,600 Equity Common stock, $5 par value 252,000 Retained earnings 26,100 Total liabilities and equity $377, 700...
Exercise 23-12 Condensed financial data of Stellar Company for 2017 and 2016 are present STELLAR COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 Cash Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) 2017 $1,780 1,750 1,590 1,940 (1,190) 1,300 $7,170 2016 $1,120 1,300 1,940 1,670 (1,140 ) 1,400 $6,290 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,220 190 1,380 1,920 2,460 $7,170 $880 250 1,570 1,730 1,860 $6,290 STELLAR COMPANY INCOME STATEMENT FOR...
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