Homework Answers
| a | Sales | $21,059 | Income Statement(I) |
| Accumulated depreciation | $4,375 | Balance sheet (B) | |
| Depreciation expense | $388 | Income Statement(I) | |
| Retained Earnings | $6,900 | Balance sheet (B) | |
| Net Income | $379 | Income Statement(I) | |
| Property plant and equipment | $1,586 | Balance sheet (B) | |
| Selling, general and admin. Expense | $4,600 | Income Statement(I) | |
| Account receivable | $1,899 | Balance sheet (B) | |
| Total liabilities | $4,788 | Balance sheet (B) | |
| Total Stockholders' EQUITY | $5,384 | Balance sheet (B) | |
| b | Total Assets | $10,172 | (Total Assets = Total liabilities + Total stockholders' equity) |
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E2-31. Identifying and Classifying Balance Sheet and Income Statement Accounts Following are selected accounts for Staples...
Using the data, compute total assets and total expenses. Staples, Inc. ($ millions) Amount Classification Sales ...
Using the data, compute total assets and total expenses. Staples, Inc. ($ millions) Amount Classification Sales $21,059 Accumulated depreciation 4,375 Depreciation expense 388 Retained earnings 6,900 Net income 379 Property, plant & equipment, net 1,586 Selling, general and admin expense 4,600 Accounts receivable 1,899 Total liabilities 4,788 Stockholders' equity 5,384
Identifying and Classifying Balance Sheet and Income Statement Accounts Following are selected accounts for Proctor &...
Identifying and Classifying Balance Sheet and Income Statement Accounts Following are selected accounts for Proctor & Gamble. (a) Indicate whether each account appears on the balance sheet (B) or income statement (1). ($ millions) Amount Classification Sales $83,503 Net income 12,075 Accumulated depreciation 17,446 Depreciation expense 3,166 Retained earnings 48,986 Property, plant & equipment, net 20,640 Selling, general & administrative expense 25,725 Accounts receivable 6,761 Total liabilities 74,498 Stockholders' equity 69,494 (b) Using the data, compute total assets and total...
Classifying Balance Sheet and Income Statement Accounts and Computing Current Ratio Shoprite Holdings Ltd is an...
Classifying Balance Sheet and Income Statement Accounts and Computing Current Ratio Shoprite Holdings Ltd is an African food retailer listed on the Johannesburg Stock Exchange. The following accounts are selected from its annual report for the fiscal year ended June 30, 2014. The amounts below are in millions of South African Rand. a. Indicate the appropriate classification of each account as appearing in either its balance sheet (B) or its income statement (I). (Rand millions) Amount Classification Sales of merchandise...
Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in...
Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 20Y7: Cash $109,100 Retained Earnings $480,800 Accounts Receivable 290,900 Dividends 65,300 Inventory 331,600 Sales 3,995,800 Estimated Returns Inventory 5,000 Cost of Goods Sold 2,311,300 Office Supplies 10,300 Sales Salaries Expense 649,900 Prepaid Insurance 8,000 Advertising Expense 178,700 Office Equipment 240,100 Depreciation Expense— Store Equipment 34,800 Accumulated Depreciation— Office Equipment 163,100 Miscellaneous Selling...
Multiple-Step Income Statement and Report Form of Balance Sheet The following selected accounts and their current...
Multiple-Step Income Statement and Report Form of Balance Sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2018 Cash Accounts Receivable Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Office Equipment Accumulated Depreciation-Office Equipment 58,000 Miscellaneous Selling Expense Store Equipment Accumulated Depreciation-Store Equipment 87,500 Rent Expense Accounts Payable Customers Refunds Payable $92,000 Retained Earnings 450,000 Dividends 370,000 Sales $381,000 300,000 8,925,000 5,000 Cost of Goods Sold...
Multiple-Step Income Statement and Report Form of Balance Sheet The following selected accounts and their current...
Multiple-Step Income Statement and Report Form of Balance
Sheet
The following selected accounts and their current balances
appear in the ledger of Clairemont Co. for the fiscal year ended
May 31, 2018:
Cash
$114,700
Retained Earnings
505,500
Accounts Receivable
305,800
Dividends
68,700
Inventory
348,600
Sales
$4,200,600
Estimated Returns Inventory
22,500
Cost of Goods Sold
2,429,700
Office Supplies
10,800
Sales Salaries Expense
683,300
Prepaid Insurance
8,400
Advertising Expense
187,900
Office Equipment
252,400
Depreciation Expense—
Store Equipment
36,600
Accumulated Depreciation—
Office Equipment...
(Working with an income statement and balance sheet) Prepare a balance sheet and income statement for...
(Working with an income statement and balance sheet)
Prepare a balance sheet and income statement for Belmond, Inc. from
the following information.
3-5. (Working with an income statement and balance sheet) Prepare a balance sheet and income statement for Belmond, Inc. from the following information. Inventory $6,500 Common stock 45,000 Cash 16,550 Operating expenses 1,350 Short-term notes payable 600 Interest expense 900 Depreciation expense 500 Net sales 12,800 Accounts receivable 9,600 Accounts payable 4,800 Long-term debt 55,000 Cost of goods...
Below is an income statement and balance sheet with selected accounts. I need help creating the operating...
Below is an income statement and balance sheet with selected accounts. I need help creating the operating section of the statement of cash flows (using the indirect method). Thank you. Income Statement Selected Balance Sheet Accounts 2018 2018 2017 Sales revenue 75,500 Accounts receivable 879 650 Cost of sales 30,809 Inventory 89,600 83,750 Gross profit 44,691 Accounts payable 4,120 5,230 Depreciation expense 7,008 Salaries payable 250 775 Rent expense 15,230 Rent payable 2,100 1,100 Salaries expense 18,000 Interest payable 500 575 Interest...
Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in...
Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 20Y7: Cash $112,800 Retained Earnings $497,100 Accounts Receivable 300,700 Dividends 67,500 Inventory 342,800 Sales 4,130,700 Estimated Returns Inventory 5,000 Cost of Goods Sold 2,389,300 Office Supplies 10,600 Sales Salaries Expense 671,900 Prepaid Insurance 8,200 Advertising Expense 184,800 Office Equipment 248,200 Depreciation Expense— Store Equipment 36,000 Accumulated Depreciation— Office Equipment 168,700 Miscellaneous Selling...
The following income statement and selected balance sheet account de ment and selected balance sheet account...
The following income statement and selected balance sheet account de ment and selected balance sheet account data are available for Trecce. Inc., at December 31, 2015: 1.3.2013.8 OLEN 13.44 ing Operating Cash by the Direct Method TREECE, INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2015 Revenue: Net sales .......... Dividend Income .. Interest income ......... Gain on sales of marketable securities ... Total revenue and gains Costs and expenses: Cost of goods sold ... $1,550,000 Operating expenses... 980,000...
Identifying and Classifying Balance Sheet and Income Statement Accounts Following are selected accounts for Proctor & Gamble. (a) Indicate whether each account appears on the balance sheet (B) or income statement (1). ($ millions) Amount Classification Sales $83,503 Net income 12,075 Accumulated depreciation 17,446 Depreciation expense 3,166 Retained earnings 48,986 Property, plant & equipment, net 20,640 Selling, general & administrative expense 25,725 Accounts receivable 6,761 Total liabilities 74,498 Stockholders' equity 69,494 (b) Using the data, compute total assets and total...
Multiple-Step Income Statement and Report Form of Balance Sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2018 Cash Accounts Receivable Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Office Equipment Accumulated Depreciation-Office Equipment 58,000 Miscellaneous Selling Expense Store Equipment Accumulated Depreciation-Store Equipment 87,500 Rent Expense Accounts Payable Customers Refunds Payable $92,000 Retained Earnings 450,000 Dividends 370,000 Sales $381,000 300,000 8,925,000 5,000 Cost of Goods Sold...
Multiple-Step Income Statement and Report Form of Balance
Sheet
The following selected accounts and their current balances
appear in the ledger of Clairemont Co. for the fiscal year ended
May 31, 2018:
Cash
$114,700
Retained Earnings
505,500
Accounts Receivable
305,800
Dividends
68,700
Inventory
348,600
Sales
$4,200,600
Estimated Returns Inventory
22,500
Cost of Goods Sold
2,429,700
Office Supplies
10,800
Sales Salaries Expense
683,300
Prepaid Insurance
8,400
Advertising Expense
187,900
Office Equipment
252,400
Depreciation Expense—
Store Equipment
36,600
Accumulated Depreciation—
Office Equipment...
(Working with an income statement and balance sheet)
Prepare a balance sheet and income statement for Belmond, Inc. from
the following information.
3-5. (Working with an income statement and balance sheet) Prepare a balance sheet and income statement for Belmond, Inc. from the following information. Inventory $6,500 Common stock 45,000 Cash 16,550 Operating expenses 1,350 Short-term notes payable 600 Interest expense 900 Depreciation expense 500 Net sales 12,800 Accounts receivable 9,600 Accounts payable 4,800 Long-term debt 55,000 Cost of goods...
The following income statement and selected balance sheet account de ment and selected balance sheet account data are available for Trecce. Inc., at December 31, 2015: 1.3.2013.8 OLEN 13.44 ing Operating Cash by the Direct Method TREECE, INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2015 Revenue: Net sales .......... Dividend Income .. Interest income ......... Gain on sales of marketable securities ... Total revenue and gains Costs and expenses: Cost of goods sold ... $1,550,000 Operating expenses... 980,000...
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