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The following account balances appear in the 2021 adjusted trial balance of Blue Devils Corporation: Cash, $3,000; Accounts Receivable, $7,000; Supplies, $17,000; Equipment, $100,000; Accumulated Depreciation, $35,000; Accounts Payable, $24,000; Salaries Payable, $14,000; Common Stock, $40,000; and Retained Earnings, LVVILUVVIVI VINTIVI Balance Sheet December 31, 2021 Assets Liabilities Current assets: Current liabilities: Cash $ $ 24,000 3,000 7,000 17,000 Accounts Payable Salaries Payable Accounts Receivable 14,000 Supplies Total current assets 27,000 Total current liabilities 38,000 Stockholders' Equity Long-term assets: Equipment...
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ne valdnice sheet (L03-5) The following account balances appear in the 2021 adjusted trial balance of Blue Devils Corporation: Cash, $3,900; Accounts Receivable, $7,900; Supplies, $17,900; Equipment, $109,000; Accumulated Depreciation, $39,500; Accounts Payable, $24,900, Salaries Payable, $14,900; Common Stock, $49,000; and Retained Earnings, Prepare the December 31, 2021, classified balance sheet including the correct balance for retained earnings. (Amounts to be deducted should be entered with minus sign.) Assets Current assets: Cash Accounts Receivable Supplies BLUE DEVILS CORPORATION Balance Sheet...
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The following incomplete balance sheet for the Sanderson Manufacturing Company was prepared by the company's controller. As accounting manager for Sanderson, you are attempting to reconstruct and revise the balance sheet. $ 2,750 6,500 (1,900) 7,500 2,700 17,550 SANDERSON MANUFACTURING COMPANY Balance Sheet At December 31, 2021 ($ in 000s) Assets Current assets: Cash Accounts receivable Allowance for uncollectible accounts Finished goods inventory Prepaid expenses Total current assets Long-term assets: Investments Raw materials and work in process inventory Equipment Accumulated...
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Your answer is partially correct. The following items were taken from the financial statements of Concord Company. (All amounts are in thousands.) $5,600 1,900 500 Long-term debt Prepaid insurance Equipment Stock investments (long-term) Debt investments (short-term) Notes payable (due in 2023) Cash $900 850 11,400 400 3,800 500 2,900 Accumulated depreciation-equipment Accounts payable Notes payable (due after 2023) Common stock Retained earnings Accounts receivable Inventory 9,750 3,600 2,100 1,300 Prepare a classified balance sheet in good form as of December...
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Classified Balance Sheet The George Company collected the following information for the preparation of its December 31, classified balance sheet: Property Plant and Accounts Receivable $22,000 Equipment $200,000 Cash 17,000 Inventory 57,000 Other Long-Term Other Current Assets 25,000 Assets 40,000 Common Accounts Payable 25,000 stock 92,000 Retained Long-Term Liabilities 60,000 Earnings ? Other Current Liabilities 19.000 Prepare a classified balance sheet for George Company. GEORGE COMPANY Balance Sheet December 31 Assets Liabilities & Stockholders' Equity Current Assets: Current Liabilities: $...
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The following accounts were taken from the financial statements of Lee Company. Match each of the accounts to its proper balance sheet classification. If the item would not appear on a balance sheet, use "Not Applicable." Accounts Balance Sheet Classification Interest revenue Utilities payable Accounts payable Current Assets Long-term Investments Supplies Bonds payable Goodwill Property, Plant, and Equipment Intangible Assets Current Liabilities Common stock Accumulated depreciation-equipmer Equipment Long-term Liabilities Stockholders' Equity Salaries and wages expense Debt investments (long-term) Not Applicable...
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please complete balance sheet
Additional information ($ in 000s): 1. Certain records that included the account balances for the patent and shareholders' equity items were lost. However, the controller told you that a complete, preliminary balance sheet prepared before the records were lost showed a debt to equity ratio of 12. That Is, total liabilities are 120% of total shareholders' equity, Retained earnings at the beginning of the year was $5,600. Net Income for 2021 was $1,950 and $500 in...
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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 $ 10,500 135,800 4,589 22,500 250,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Sto Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $120,000 10,500 9,500 3,500 25,000 150,000 45,000 350,000 250,000...
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The following items are taken from the financial statements of Crane Company at December 31, 2022. Land Accounts receivable Supplies Cash Equipment Buildings Land improvements Notes receivable (due in 2023) Accumulated depreciation-land improvements Common stock Retained earnings (December 31, 2022) Accumulated depreciation-buildings Accounts payable Mortgage payable Accumulated depreciation-equipment Interest payable Income taxes payable Patents Investments in stock (long-term) Debt investments (short-term) $195,800 21,400 10,400 11,850 83,800 262,000 45,900 5,400 13,200 80,000 500,000 33,600 9,600 86,450 18,900 3,100 15,100 47,100 71,600...
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Problem 2 Page 2 Chapter 05 Group work - STU.xlsx Presented below is the adjusted trial balance of Kelly Corporation at December 31, 2020. Kelly Corporation Trial Balance December 31, 2020 Debit Credit $ $ $ 1.200 1.000 48,000 $ 4.000 $ 950 Cash Supplies Prepaid Insurance Equipment Accumulated Depreciation - Equipment Trademarks Accounts Payable Salaries and Wages Payable Unearned Service Revenue Bonds Payable (due 2027) Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Rent Expense...
The following account balances appear in the 2021 adjusted trial balance of Blue Devils Corporation: Cash, $3,000; Accounts Receivable, $7,000; Supplies, $17,000; Equipment, $100,000; Accumulated Depreciation, $35,000; Accounts Payable, $24,000; Salaries Payable, $14,000; Common Stock, $40,000; and Retained Earnings, LVVILUVVIVI VINTIVI Balance Sheet December 31, 2021 Assets Liabilities Current assets: Current liabilities: Cash $ $ 24,000 3,000 7,000 17,000 Accounts Payable Salaries Payable Accounts Receivable 14,000 Supplies Total current assets 27,000 Total current liabilities 38,000 Stockholders' Equity Long-term assets: Equipment...
ne valdnice sheet (L03-5) The following account balances appear in the 2021 adjusted trial balance of Blue Devils Corporation: Cash, $3,900; Accounts Receivable, $7,900; Supplies, $17,900; Equipment, $109,000; Accumulated Depreciation, $39,500; Accounts Payable, $24,900, Salaries Payable, $14,900; Common Stock, $49,000; and Retained Earnings, Prepare the December 31, 2021, classified balance sheet including the correct balance for retained earnings. (Amounts to be deducted should be entered with minus sign.) Assets Current assets: Cash Accounts Receivable Supplies BLUE DEVILS CORPORATION Balance Sheet...
The following incomplete balance sheet for the Sanderson Manufacturing Company was prepared by the company's controller. As accounting manager for Sanderson, you are attempting to reconstruct and revise the balance sheet. $ 2,750 6,500 (1,900) 7,500 2,700 17,550 SANDERSON MANUFACTURING COMPANY Balance Sheet At December 31, 2021 ($ in 000s) Assets Current assets: Cash Accounts receivable Allowance for uncollectible accounts Finished goods inventory Prepaid expenses Total current assets Long-term assets: Investments Raw materials and work in process inventory Equipment Accumulated...
Your answer is partially correct. The following items were taken from the financial statements of Concord Company. (All amounts are in thousands.) $5,600 1,900 500 Long-term debt Prepaid insurance Equipment Stock investments (long-term) Debt investments (short-term) Notes payable (due in 2023) Cash $900 850 11,400 400 3,800 500 2,900 Accumulated depreciation-equipment Accounts payable Notes payable (due after 2023) Common stock Retained earnings Accounts receivable Inventory 9,750 3,600 2,100 1,300 Prepare a classified balance sheet in good form as of December...
Classified Balance Sheet The George Company collected the following information for the preparation of its December 31, classified balance sheet: Property Plant and Accounts Receivable $22,000 Equipment $200,000 Cash 17,000 Inventory 57,000 Other Long-Term Other Current Assets 25,000 Assets 40,000 Common Accounts Payable 25,000 stock 92,000 Retained Long-Term Liabilities 60,000 Earnings ? Other Current Liabilities 19.000 Prepare a classified balance sheet for George Company. GEORGE COMPANY Balance Sheet December 31 Assets Liabilities & Stockholders' Equity Current Assets: Current Liabilities: $...
The following accounts were taken from the financial statements of Lee Company. Match each of the accounts to its proper balance sheet classification. If the item would not appear on a balance sheet, use "Not Applicable." Accounts Balance Sheet Classification Interest revenue Utilities payable Accounts payable Current Assets Long-term Investments Supplies Bonds payable Goodwill Property, Plant, and Equipment Intangible Assets Current Liabilities Common stock Accumulated depreciation-equipmer Equipment Long-term Liabilities Stockholders' Equity Salaries and wages expense Debt investments (long-term) Not Applicable...
please complete balance sheet
Additional information ($ in 000s): 1. Certain records that included the account balances for the patent and shareholders' equity items were lost. However, the controller told you that a complete, preliminary balance sheet prepared before the records were lost showed a debt to equity ratio of 12. That Is, total liabilities are 120% of total shareholders' equity, Retained earnings at the beginning of the year was $5,600. Net Income for 2021 was $1,950 and $500 in...
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 $ 10,500 135,800 4,589 22,500 250,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Sto Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $120,000 10,500 9,500 3,500 25,000 150,000 45,000 350,000 250,000...
The following items are taken from the financial statements of Crane Company at December 31, 2022. Land Accounts receivable Supplies Cash Equipment Buildings Land improvements Notes receivable (due in 2023) Accumulated depreciation-land improvements Common stock Retained earnings (December 31, 2022) Accumulated depreciation-buildings Accounts payable Mortgage payable Accumulated depreciation-equipment Interest payable Income taxes payable Patents Investments in stock (long-term) Debt investments (short-term) $195,800 21,400 10,400 11,850 83,800 262,000 45,900 5,400 13,200 80,000 500,000 33,600 9,600 86,450 18,900 3,100 15,100 47,100 71,600...
Problem 2 Page 2 Chapter 05 Group work - STU.xlsx Presented below is the adjusted trial balance of Kelly Corporation at December 31, 2020. Kelly Corporation Trial Balance December 31, 2020 Debit Credit $ $ $ 1.200 1.000 48,000 $ 4.000 $ 950 Cash Supplies Prepaid Insurance Equipment Accumulated Depreciation - Equipment Trademarks Accounts Payable Salaries and Wages Payable Unearned Service Revenue Bonds Payable (due 2027) Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Rent Expense...