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Selected accounts from Westeros Co.'s adjusted trial balance for the year ended December 31 follow. Sales...
Selected accounts from Lue Co.'s adjusted trial balance for the year ended December 31 follow.
Selected accounts from Lue Co.'s adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet.
Selected accounts from GermX Co.'s adjusted trial balance for the year ended December 31 follow. Prepare...
Selected accounts from GermX Co.'s adjusted trial balance for the year ended December 31 follow. Prepare the assets section of a classified balance sheet. Hint: Fair Value Adjustment Trading increases trading securities; Fair Value Adjustment-Stock decreases stock investments. Exercise 15-14 Prepare assets section of balance sheet C1 P1 P2 P3 P4 P5 Trading securities (at cost).................. Short-term stock investments (at cost)........ Equity method investments................. Held-to-maturity securities (long-term)........ $ 5,000 23,000 70,000 13.000 Cash ................................... Fair value adjustment-Stock ............ Accounts receivable....
Save-the-Earth Co. reports the following income statement accounts for the year ended December 31. $ Sales...
Save-the-Earth Co. reports the following income statement accounts for the year ended December 31. $ Sales discounts Office salaries expense Rent expense-Office space Advertising expense Sales returns and allowances Office supplies expense Cost of goods sold Sales Insurance expense Sales staff salaries 860 3,100 2,600 720 360 720 11,200 42,000 2,100 3,600 Required: Prepare a multiple-step income statement for the year ended December 31. Save-the-Earth Co. Income Statement For Year Ended December 31 Expenses Selling expenses Total selling expenses General...
The following is Sunlight Co. year-end adjusted trial balance dated December 31, 2018. Sunlight Co. Adjusted Trial...
The following is Sunlight Co. year-end adjusted trial balance dated December 31, 2018. Sunlight Co. Adjusted Trial Balance at 31 December 2018 Debit Credit Cash $ 5,700 Accounts Receivable 4,500 Prepaid Insurance 2,100 Office Equipment 18,300 Accumulated Depreciation: Office Equipment $ 600 Accounts Payable 3,600 Capital Stock 15,300 Retained Earnings 2,700 Dividends 1,100 Revenue 21,750 Salaries Expense Utilities Expense Rent Expense Depreciation Expense 6,600 1,800 2,700 600 552 $43.950 $43.950 Income Taxes Expense Instructions: Using Adjusted Trial Balance above: (1)...
The adjusted trial balance for Chiara Company as of December 31 follows. Debit Credit Cash $...
The adjusted trial balance for Chiara Company as of December 31 follows. Debit Credit Cash $ 204,700 Accounts receivable 52,000 Interest receivable 21,400 Notes receivable (due in 90 days) 171,000 Office supplies 17,000 Automobiles 167,000 Accumulated depreciation—Automobiles $ 85,000 Equipment 140,000 Accumulated depreciation—Equipment 18,000 Land 77,000 Accounts payable 106,000 Interest payable 25,000 Salaries payable 25,000 Unearned fees 34,000 Long-term notes payable 154,000 Common stock 30,580 Retained earnings 275,220 Dividends 52,000 Fees earned 554,000 Interest earned 34,000 Depreciation expense—Automobiles 24,500 Depreciation...
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit...
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 9,000 Accounts receivable 16,500 Office supplies 2,000 Trucks 189,000 Accumulated depreciation—Trucks $ 38,934 Land 75,000 Accounts payable 13,000 Interest payable 3,000 Long-term notes payable 52,000 Common stock 35,880 Retained earnings 137,500 Dividends 19,000 Trucking fees earned 135,500 Depreciation expense—Trucks 25,112 Salaries expense 63,549 Office supplies expense 5,000 Repairs expense—Trucks 11,653 Totals $ 415,814 $ 415,814 The Retained Earnings account balance...
Exercise 4-11 Preparing financial statements LO C3 The following adjusted year-end trial balance at December 31...
Exercise 4-11 Preparing financial statements LO C3 The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 6,300 Accounts receivable 16,500 office supplies 2,000 Trucks 174,000 Accumulated depreciation-Trucks $ 35,844 Land 75,000 Accounts payable 10,300 Interest payable 3,000 Long-term notes payable 52,000 x. Wilson, Capital 154, 193 x. Wilson, withdrawals 19,000 Trucking fees earned 148,500 Depreciation expense 23,119 Trucks Salaries expense 69,647 Office supplies expense 5,500 Repairs expense Trucks 12,771 Totals...
The adjusted trial balance of McCoy Company included the following selected accounts: Debit Credit Sales Revenue...
The adjusted trial balance of McCoy Company included the following selected accounts: Debit Credit Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Freight-Out Advertising Expense Interest Expense Salaries and Wages Expense Utilities Expense Depreciation Expense Interest Revenue $645,000 $50,000 9,500 396,000 2,000 15,000 19,000 84,000 23,000 3,500 25,000 Use the above information to prepare a multiple-step income statement for the year ended December 31, 2017. (List other revenues before other expenses.) MCCOY COMPANY Income Statement For...
Colleen’s Cookie Company Trial Balance (Selected Accounts) For the Current Year Ended December 31 Account Debit...
Colleen’s Cookie Company
Trial Balance (Selected Accounts)
For the Current Year Ended December 31
Account
Debit
Credit
Retained Earnings, Beginning Balance
$1,403,000
Accumulated Other Comprehensive Income, Beginning Balance
$60,275
Dividends
62,000
Sales
1,520,000
Interest Income
3,900
Dividend Income
3,050
Gain on Sale of Property
6,800
Gain on Disposal of Plant Assets
70,000
Unrealized Gain on Trading Investments
27,850
Unrealized Gain on Available-for-Sale Bonds Before Tax
3,700
Gain on Sale of Discontinued Operations Before Tax
54,300
Cost of Goods Sold
400,000...
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Credit Debit $...
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Credit Debit $ 6,100 16,500 2,000 158,000 $ 32,548 75,000 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals 10, 100 3,000 52,000 29,995 135,500 19,000 110,000 20,993 51,590 14,500 9,460 $373,143 $373, 143 The Retained Earnings account balance...
Selected accounts from Lue Co.'s adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet.
Selected accounts from GermX Co.'s adjusted trial balance for the year ended December 31 follow. Prepare the assets section of a classified balance sheet. Hint: Fair Value Adjustment Trading increases trading securities; Fair Value Adjustment-Stock decreases stock investments. Exercise 15-14 Prepare assets section of balance sheet C1 P1 P2 P3 P4 P5 Trading securities (at cost).................. Short-term stock investments (at cost)........ Equity method investments................. Held-to-maturity securities (long-term)........ $ 5,000 23,000 70,000 13.000 Cash ................................... Fair value adjustment-Stock ............ Accounts receivable....
Save-the-Earth Co. reports the following income statement accounts for the year ended December 31. $ Sales discounts Office salaries expense Rent expense-Office space Advertising expense Sales returns and allowances Office supplies expense Cost of goods sold Sales Insurance expense Sales staff salaries 860 3,100 2,600 720 360 720 11,200 42,000 2,100 3,600 Required: Prepare a multiple-step income statement for the year ended December 31. Save-the-Earth Co. Income Statement For Year Ended December 31 Expenses Selling expenses Total selling expenses General...
The following is Sunlight Co. year-end adjusted trial balance dated December 31, 2018. Sunlight Co. Adjusted Trial Balance at 31 December 2018 Debit Credit Cash $ 5,700 Accounts Receivable 4,500 Prepaid Insurance 2,100 Office Equipment 18,300 Accumulated Depreciation: Office Equipment $ 600 Accounts Payable 3,600 Capital Stock 15,300 Retained Earnings 2,700 Dividends 1,100 Revenue 21,750 Salaries Expense Utilities Expense Rent Expense Depreciation Expense 6,600 1,800 2,700 600 552 $43.950 $43.950 Income Taxes Expense Instructions: Using Adjusted Trial Balance above: (1)...
Exercise 4-11 Preparing financial statements LO C3 The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 6,300 Accounts receivable 16,500 office supplies 2,000 Trucks 174,000 Accumulated depreciation-Trucks $ 35,844 Land 75,000 Accounts payable 10,300 Interest payable 3,000 Long-term notes payable 52,000 x. Wilson, Capital 154, 193 x. Wilson, withdrawals 19,000 Trucking fees earned 148,500 Depreciation expense 23,119 Trucks Salaries expense 69,647 Office supplies expense 5,500 Repairs expense Trucks 12,771 Totals...
The adjusted trial balance of McCoy Company included the following selected accounts: Debit Credit Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Freight-Out Advertising Expense Interest Expense Salaries and Wages Expense Utilities Expense Depreciation Expense Interest Revenue $645,000 $50,000 9,500 396,000 2,000 15,000 19,000 84,000 23,000 3,500 25,000 Use the above information to prepare a multiple-step income statement for the year ended December 31, 2017. (List other revenues before other expenses.) MCCOY COMPANY Income Statement For...
Colleen’s Cookie Company
Trial Balance (Selected Accounts)
For the Current Year Ended December 31
Account
Debit
Credit
Retained Earnings, Beginning Balance
$1,403,000
Accumulated Other Comprehensive Income, Beginning Balance
$60,275
Dividends
62,000
Sales
1,520,000
Interest Income
3,900
Dividend Income
3,050
Gain on Sale of Property
6,800
Gain on Disposal of Plant Assets
70,000
Unrealized Gain on Trading Investments
27,850
Unrealized Gain on Available-for-Sale Bonds Before Tax
3,700
Gain on Sale of Discontinued Operations Before Tax
54,300
Cost of Goods Sold
400,000...
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Credit Debit $ 6,100 16,500 2,000 158,000 $ 32,548 75,000 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals 10, 100 3,000 52,000 29,995 135,500 19,000 110,000 20,993 51,590 14,500 9,460 $373,143 $373, 143 The Retained Earnings account balance...
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