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Acme Auto Supplies Balance Sheet December 31, 2007 AS Assets Cash - $60,000 S Prepaid Insurance...
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...
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.
Cash $ 45,000 Accounts Payable 140,000 60,000 Prepaid Insurance 80,000 Salaries and Wages Payable Mortgage Payable...
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 is a) $0. b) $585,000. c) $725,000. d) $185.000
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...
Cash $ 3,600 3,400 Accounts receivable Sandhill Co. Balance Sheet December 31, 2022 $ 29,000 Accounts...
Cash $ 3,600 3,400 Accounts receivable Sandhill Co. Balance Sheet December 31, 2022 $ 29,000 Accounts payable 23,100 Salaries and wages payable 10,600 Note payable (due 2025) 1,300 Total liabilities 3,000 25,900 Inventory 166,000 Supplies 173,000 Prepaid insurance Land Buildings Less: Accumulated depreciation 35,000 $248,000 Common stock (105,000) 143,000 Retained earnings 2,100 Total stockholders' equity $238,000 Total liabilities and stockholders' equity 30,000 Trademark Total assets 65,000 $238,000 Compute (a) total current assets and (b) total property, plant and equipment. (a)...
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...
Veesperna Company Balance Sheet As at December 31 2018 2017 Assets Current Assets Cash Accounts R...
need to find the sale of equipment
Veesperna Company Balance Sheet As at December 31 2018 2017 Assets Current Assets Cash Accounts Receivable Merchandise Inventory Total Current Assets Land Equipment Less: Accumulated Depreciation $-55,000 $-69,000 Total Assets $109,915 $75,100 $47,600 $29,900 $78,600 $46,500 $236,115 $151,500 $96,000 $103,000 $106,000 $139,000 $383,115 $324,500 Liabilities and Equity Liabilities Current Liabilities Accounts Payable Taxes Payable Total Current Liabilities Bonds Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and...
Use the following data to determine the total dollar amount of assets to be classified as...
Use the following data to determine the total dollar amount of assets to be classified as current assets. Eddy Auto Supplies Balance Sheet December 31, 2017 Accounts payable Salaries and wages payable Mortgage payable Total liabilities $ 165,000 30,000 270.000 $465,000 Cash $ 126,000 Accounts receivable 120.000 Inventory 210,000 Prepaid insurance 90,000 Stock investments 255,000 Land 285,000 Buildings $339,000 Less: Accumulated depreciation (60,000 279,000 Trademarks 210.000 Total assets $1.575.000 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders'...
Use the following data to determine the total dollar amount of assets to be classified as...
Use the following data to determine the total dollar amount of assets to be classified as current assets. Eddy Auto Supplies Balance Sheet December 31, 2017 Accounts payable Salaries and wages payable Mortgage payable Total liabilities $ 165,000 30,000 270.000 $465,000 Cash $ 126,000 Accounts receivable 120.000 Inventory 210,000 Prepaid insurance 90,000 Stock investments 255,000 Land 285,000 Buildings $339,000 Less: Accumulated depreciation (60,000 279,000 Trademarks 210.000 Total assets $1.575.000 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders'...
Use the following data to calculate the current ratio. Koonce Office Supplies Balance Sheet December 31,...
Use the following data to calculate the current ratio. Koonce Office Supplies Balance Sheet December 31, 2014 Cash Accounts receivable Inventory Prepaid insurance Stock investments Land Buildings $140,000 $20,000 $160,000 $320,000 $130,000 Accounts payable $100,000 Salaries and wages payable $110,000 Mortgage payable $60,000 Total liabilities $170,000 $180,000 $210,000 Common stock $240,000 Less: Accumulated depreciation ($40,000) $170,000 Retained earnings $500,000 Trademarks $740,000 arks $140,000 Total stockholders' equity Total liabilities and stockholders' $1.060.000 equity Total assets $1.060,000 2.50:1 2.13:1 1.44:1 2.86:1
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...
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.
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 is a) $0. b) $585,000. c) $725,000. d) $185.000
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...
Cash $ 3,600 3,400 Accounts receivable Sandhill Co. Balance Sheet December 31, 2022 $ 29,000 Accounts payable 23,100 Salaries and wages payable 10,600 Note payable (due 2025) 1,300 Total liabilities 3,000 25,900 Inventory 166,000 Supplies 173,000 Prepaid insurance Land Buildings Less: Accumulated depreciation 35,000 $248,000 Common stock (105,000) 143,000 Retained earnings 2,100 Total stockholders' equity $238,000 Total liabilities and stockholders' equity 30,000 Trademark Total assets 65,000 $238,000 Compute (a) total current assets and (b) total property, plant and equipment. (a)...
need to find the sale of equipment
Veesperna Company Balance Sheet As at December 31 2018 2017 Assets Current Assets Cash Accounts Receivable Merchandise Inventory Total Current Assets Land Equipment Less: Accumulated Depreciation $-55,000 $-69,000 Total Assets $109,915 $75,100 $47,600 $29,900 $78,600 $46,500 $236,115 $151,500 $96,000 $103,000 $106,000 $139,000 $383,115 $324,500 Liabilities and Equity Liabilities Current Liabilities Accounts Payable Taxes Payable Total Current Liabilities Bonds Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and...
Use the following data to determine the total dollar amount of assets to be classified as current assets. Eddy Auto Supplies Balance Sheet December 31, 2017 Accounts payable Salaries and wages payable Mortgage payable Total liabilities $ 165,000 30,000 270.000 $465,000 Cash $ 126,000 Accounts receivable 120.000 Inventory 210,000 Prepaid insurance 90,000 Stock investments 255,000 Land 285,000 Buildings $339,000 Less: Accumulated depreciation (60,000 279,000 Trademarks 210.000 Total assets $1.575.000 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders'...
Use the following data to determine the total dollar amount of assets to be classified as current assets. Eddy Auto Supplies Balance Sheet December 31, 2017 Accounts payable Salaries and wages payable Mortgage payable Total liabilities $ 165,000 30,000 270.000 $465,000 Cash $ 126,000 Accounts receivable 120.000 Inventory 210,000 Prepaid insurance 90,000 Stock investments 255,000 Land 285,000 Buildings $339,000 Less: Accumulated depreciation (60,000 279,000 Trademarks 210.000 Total assets $1.575.000 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders'...
Use the following data to calculate the current ratio. Koonce Office Supplies Balance Sheet December 31, 2014 Cash Accounts receivable Inventory Prepaid insurance Stock investments Land Buildings $140,000 $20,000 $160,000 $320,000 $130,000 Accounts payable $100,000 Salaries and wages payable $110,000 Mortgage payable $60,000 Total liabilities $170,000 $180,000 $210,000 Common stock $240,000 Less: Accumulated depreciation ($40,000) $170,000 Retained earnings $500,000 Trademarks $740,000 arks $140,000 Total stockholders' equity Total liabilities and stockholders' $1.060.000 equity Total assets $1.060,000 2.50:1 2.13:1 1.44:1 2.86:1
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