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Part Three. Using the following accounts, prepare a classified balance sheet...
hello i need help with accouting need help Tnstructor Huyck You will need to use your...
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Tnstructor Huyck You will need to use your own paper, lined please. Part One. Periodic Journal Entries: (20 points) Demmler Corporation entered into the transactions listed below. Prepare Demmler's journal entries, assuming use of the periodic inventory system. Oct Purchased $1,500 of merchandise on credit, terms n/15. 3 Returned $300 of the goods purchased on October 3. 6 Paid freight charges of $150 on goods purchased on October 3. 7 Paid for...
The following information is for Qwik Auto Supplies: Qwik Auto Supplies Balance Sheet December 31, 2020...
The following information is for Qwik Auto Supplies: Qwik Auto Supplies Balance Sheet December 31, 2020 Cash $ 45,000 Accounts Payable 140,000 60,000 Prepaid Insurance 80,000 Salaries and Wages Payable Mortgage Payable 150,000 Total Liabilities 350,000 Accounts 110,000 Receivable Inventory 140,000 Land Held for 185,000 Investment Land 250,000 Building $200,000 Less Accumulated Depreciation (50,000) 150,000 Trademark 140,000 Total Assets $1,100,000 Owner's Capital 750,000 Total Liabilities and Owner's $1,100,000 Equity The total dollar amount of assets to be classified as investments...
PROBLEM 2-Classified Balance Sheet The following information is for Benton Office Supplies Benton Office Supplies Balance...
PROBLEM 2-Classified Balance Sheet The following information is for Benton Office Supplies Benton Office Supplies Balance Sheet December 31, 2014 $ 65,000 30,000 50,000 70,000 75,000 90,000 Accounts Payable Salaries Payable Bonds Payable Total Liabilities $ 60,000 10,000 90.000 $160,000 Cash Prepaid Insurance Accounts Receivable Inventory Land held for investment Land Building $100,000 Less Accumulated Depreciation (20,000) Patent Total Assets Owner's Equity R. Benton, Capital 370,000 80,000 70.000 $530,000 Total Liabilities and Owner's Equity $530,000 The total dollar amount of...
Acme Auto Supplies Balance Sheet December 31, 2007 AS Assets Cash - $60,000 S Prepaid Insurance...
Acme Auto Supplies Balance Sheet December 31, 2007 AS Assets Cash - $60,000 S Prepaid Insurance - $40,000 Accounts Receivable - $50,000 Inventory - $70,000 Land held for investment - $80,000 Land - $95,000 Building - $100,000 Less: Accumulated Depreciation - ($30,000) Trademark - $70,000 Total Assets - $535,000 Liabilities Accounts Payable - $65,000 Salaries Payable - $10,000 Mortgage Payable - $90,000 Total Liabilities - $165,000 Stockholders' Equity Common Stock - $120,000 Retained Earnings - $250,000 Total Stockholders' Equity -...
Cash Prepaid Insurance $ 25,000 40,000 Accounts Payable Salaries and Wages Payable Mortgage Payable $ 60,000...
Cash Prepaid Insurance $ 25,000 40,000 Accounts Payable Salaries and Wages Payable Mortgage Payable $ 60,000 25,000 85,000 Total Liabilities 170,000 Accounts 50,000 Receivable Inventory 80,000 Land Held for 75,000 Investment Land 120,000 Building $110,000 Less Accumulated Depreciation (20,000) 90,000 Trademark 70,000 Total Assets $550,000 Owner's Capital 380,000 Total Liabilities and Owner's $550,000 Equity The total dollar amount of liabilities to be classified as current liabilities is O a) $60,000 Ob) $85,000. Oc) $25,000 d) $170,000.
Using the following information prepare a classified balance sheet. Make sure it is in the proper...
Using the following information prepare a classified balance sheet. Make sure it is in the proper columns etc and in proper format. Accounts Payable 7,074 Accounts Receivable 72.000 Accum Depreciation-Building 1,460 Accum Depreciation-Equipt 396 Accum Depreciation Furnishings 979 Building 395,400 Cash 6,470 Equipment 62,000 Furnishings 98.000 Interest Payable 400 Land 128.000 Long Term Investments 5.700 Mortgage Payable 329,000 Mortgage Payable current portion 11.000 Notes Payable 40.000 Other Assets 11.000 Prepaid Insurance 4,400 Retained Earnings 394,841 Supplies 2.200 Vending Inventory 380...
1. Based on the following data, what is the amount of working capital? Accounts payable....................$32,000 Accounts...
1. Based on the following data, what is the amount of working capital? Accounts payable....................$32,000 Accounts receivable....................64,000 Accrued liabilities....................7,000 Cash.........................................20,000 Intangible assets............................40,000 Inventory...............................................72,000 Long-term investments...............................100,000 Long-term liabilities.....................................75,000 Marketable securities.................................35,000 Notes payable (short-term)........................20,000 Property, plant, and equipment.................625,000 Prepaid expenses.........................................2,000 WHAT IS WORKING CAPITAL? a. $162,000 b. $134,000 c. $193,000 d. $62,000 2. Use the following data to determine the total dollar amount of assets to be classified as current assets. Cash..............................................$60,000 Prepaid insurance..........................40,000 Accounts receivable......................50,000 Inventory.........................................70,000 Land held for investment................80,000 Land................................................95,000...
Create a classified balance sheet Problem 2 The following is a list of accounts in alphabetical...
Create a classified balance sheet
Problem 2 The following is a list of accounts in alphabetical order from the general ledger of Tara Corporation: Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation Equipment Allowance for Doubtful Accounts Bond Sinking Fund Bonds Payable, due in 2025 Building Cash Common Stock $1 par value Copyright Current Portion of Long-term Debt Deferred Rent Revenue Dividends Payable Equipment Goodwill Income Taxes Payable Inventory Land Land Held for a Future Plant Site Notes Payable, due...
ON 1 The Role of Accounting as an Information System Required: Prepare a classified balance sheet...
ON 1 The Role of Accounting as an Information System Required: Prepare a classified balance sheet for Jackson Corporation at December 31, 2021, by properly classifying each of the accounts The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation. Account Title Debits Credits Cash $ 25,000 Accounts receivable 56,000 Inventory 81,000 Interest payable $ 10,000 Investment in equity securities 44,000 Land 120,000 Buildings 300,000 Accumulated depreciation-buildings 100,000 Equipment 75,000 Accumulated depreciation-equipment 25,000...
QUESTION 28 Not yet answered Marked out of 1.00 The following information is for SQU Company:...
QUESTION 28 Not yet answered Marked out of 1.00 The following information is for SQU Company: Trademark 70,000, Share Capital 120,000, Land 90,000; Retained Earnings 250,000, Building 100,000, Accumulated Depreciation 20,000; Land held for investment 75,000; Accounts Payable 60,000; Prepaid Insurance 30,000; Loan Payable 10,000; Inventory 70.000; Mortgage Payable 90,000; Accounts Receivable 50,000; Cash 65,000 The total dollar amount of liabilities to be classified as non-current liabilities is P Flag question Select one: O a R0.60,000 b.R.O.100,000 o c.R.0.70,000 d....
hello
i
need help with accouting
need help
Tnstructor Huyck You will need to use your own paper, lined please. Part One. Periodic Journal Entries: (20 points) Demmler Corporation entered into the transactions listed below. Prepare Demmler's journal entries, assuming use of the periodic inventory system. Oct Purchased $1,500 of merchandise on credit, terms n/15. 3 Returned $300 of the goods purchased on October 3. 6 Paid freight charges of $150 on goods purchased on October 3. 7 Paid for...
The following information is for Qwik Auto Supplies: Qwik Auto Supplies Balance Sheet December 31, 2020 Cash $ 45,000 Accounts Payable 140,000 60,000 Prepaid Insurance 80,000 Salaries and Wages Payable Mortgage Payable 150,000 Total Liabilities 350,000 Accounts 110,000 Receivable Inventory 140,000 Land Held for 185,000 Investment Land 250,000 Building $200,000 Less Accumulated Depreciation (50,000) 150,000 Trademark 140,000 Total Assets $1,100,000 Owner's Capital 750,000 Total Liabilities and Owner's $1,100,000 Equity The total dollar amount of assets to be classified as investments...
PROBLEM 2-Classified Balance Sheet The following information is for Benton Office Supplies Benton Office Supplies Balance Sheet December 31, 2014 $ 65,000 30,000 50,000 70,000 75,000 90,000 Accounts Payable Salaries Payable Bonds Payable Total Liabilities $ 60,000 10,000 90.000 $160,000 Cash Prepaid Insurance Accounts Receivable Inventory Land held for investment Land Building $100,000 Less Accumulated Depreciation (20,000) Patent Total Assets Owner's Equity R. Benton, Capital 370,000 80,000 70.000 $530,000 Total Liabilities and Owner's Equity $530,000 The total dollar amount of...
Acme Auto Supplies Balance Sheet December 31, 2007 AS Assets Cash - $60,000 S Prepaid Insurance - $40,000 Accounts Receivable - $50,000 Inventory - $70,000 Land held for investment - $80,000 Land - $95,000 Building - $100,000 Less: Accumulated Depreciation - ($30,000) Trademark - $70,000 Total Assets - $535,000 Liabilities Accounts Payable - $65,000 Salaries Payable - $10,000 Mortgage Payable - $90,000 Total Liabilities - $165,000 Stockholders' Equity Common Stock - $120,000 Retained Earnings - $250,000 Total Stockholders' Equity -...
Cash Prepaid Insurance $ 25,000 40,000 Accounts Payable Salaries and Wages Payable Mortgage Payable $ 60,000 25,000 85,000 Total Liabilities 170,000 Accounts 50,000 Receivable Inventory 80,000 Land Held for 75,000 Investment Land 120,000 Building $110,000 Less Accumulated Depreciation (20,000) 90,000 Trademark 70,000 Total Assets $550,000 Owner's Capital 380,000 Total Liabilities and Owner's $550,000 Equity The total dollar amount of liabilities to be classified as current liabilities is O a) $60,000 Ob) $85,000. Oc) $25,000 d) $170,000.
Using the following information prepare a classified balance sheet. Make sure it is in the proper columns etc and in proper format. Accounts Payable 7,074 Accounts Receivable 72.000 Accum Depreciation-Building 1,460 Accum Depreciation-Equipt 396 Accum Depreciation Furnishings 979 Building 395,400 Cash 6,470 Equipment 62,000 Furnishings 98.000 Interest Payable 400 Land 128.000 Long Term Investments 5.700 Mortgage Payable 329,000 Mortgage Payable current portion 11.000 Notes Payable 40.000 Other Assets 11.000 Prepaid Insurance 4,400 Retained Earnings 394,841 Supplies 2.200 Vending Inventory 380...
Create a classified balance sheet
Problem 2 The following is a list of accounts in alphabetical order from the general ledger of Tara Corporation: Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation Equipment Allowance for Doubtful Accounts Bond Sinking Fund Bonds Payable, due in 2025 Building Cash Common Stock $1 par value Copyright Current Portion of Long-term Debt Deferred Rent Revenue Dividends Payable Equipment Goodwill Income Taxes Payable Inventory Land Land Held for a Future Plant Site Notes Payable, due...
ON 1 The Role of Accounting as an Information System Required: Prepare a classified balance sheet for Jackson Corporation at December 31, 2021, by properly classifying each of the accounts The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation. Account Title Debits Credits Cash $ 25,000 Accounts receivable 56,000 Inventory 81,000 Interest payable $ 10,000 Investment in equity securities 44,000 Land 120,000 Buildings 300,000 Accumulated depreciation-buildings 100,000 Equipment 75,000 Accumulated depreciation-equipment 25,000...
QUESTION 28 Not yet answered Marked out of 1.00 The following information is for SQU Company: Trademark 70,000, Share Capital 120,000, Land 90,000; Retained Earnings 250,000, Building 100,000, Accumulated Depreciation 20,000; Land held for investment 75,000; Accounts Payable 60,000; Prepaid Insurance 30,000; Loan Payable 10,000; Inventory 70.000; Mortgage Payable 90,000; Accounts Receivable 50,000; Cash 65,000 The total dollar amount of liabilities to be classified as non-current liabilities is P Flag question Select one: O a R0.60,000 b.R.O.100,000 o c.R.0.70,000 d....
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