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| Non current asset | Amount | ||
| Property plant and equipment | |||
| Building | 200000 | ||
| less:Accumulated depreciation -building | (50000) | 150000 | |
| Equipment | 100000 | ||
| less:Accumulated depreciation -Equipment | (25000) | 75000 | |
| Total Property plant and equipment | 225000 | ||
| Intangible asset | |||
| Patent | ` | 200000 | |
| Total non current asset | 425000 |
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The following balance sheet items, listed in alphabetical order, are available from the...
The following balance sheet items, listed in alphabetical order, are available from the records of Ruth...
The following balance sheet items, listed in alphabetical order, are available from the records of Ruth Corporation at December 31, 2017: Accounts payable $18,155 Income taxes payable $6,550 Accounts receivable 23,605 Interest payable 1,600 Accumulated depreciation - automobiles 23,490 Inventory 41,980 Accumulated depreciation - buildings 39,950 Land 246,000 Automobiles 117,450 Long-term investments 88,955 Bonds payable, due December 31, 2021 167,000 Notes payable, due June 30, 2018 9,000 Buildings 199,750 Office supplies 2,455 Capital stock, $10 par value 153,000 Paid-in capital...
eBook Calculator Classified Balance Sheet The following balance sheet items, listed in alphabetical order, are available...
eBook Calculator Classified Balance Sheet The following balance sheet items, listed in alphabetical order, are available from the records of Ruth Corporation at December 31, 2017: $17,395 $6,540 1,370 Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings Automobiles Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash 22,615 23,100 43,260 115,500 42,510 247,000 85,360 Income taxes payable Interest payable Inventory Land Long-term investments Notes payable, due June 30, 2018 office supplies Pald-in...
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...
The following information from the 12/31 balance sheet, listed in alphabetical order, regarding ANG Corporation: Accounts...
The following information from the 12/31 balance sheet, listed in alphabetical order, regarding ANG Corporation: Accounts payable $25,000 Inventory $145,000 Accounts receivable 33,000 Land 320,000 Automobiles, net 325,000 Long-term investment 450,000 Bond payable 1,000,000 Notes payable, due 11 months 125,000 Buildings, net 780,000 Patents 100,000 Common stock 500,000 Payroll taxes payable 3,500 Cash 75,000 Prepaid expenses 8,500 Income tax payable 36,000 Retained earnings 542,100 Interest payable 5,000 Supplies 100 19. $__________. How much are the current assets? 20. $__________. How...
P16-6A The following data, presented in alphabetical order, are taken from the records Nieto Corporation Accounts...
P16-6A The following data, presented in alphabetical order, are taken from the records Nieto Corporation Accounts payable $ 260,000 Accounts receivable 140,000 Accumulated depreciation buildings 180,000 Accumulated depreciation-equipment 52,000 Allowance for doubtful accounts 6,000 Bonds payable (10%, due 2025) 500,000 Buildings 950,000 Cash 62,000 Common stock ($10 par value; 500,000 shares authorized, 150,000 shares issued) 1,500,000 Dividends payable g r id 80,000 Equipment COSTA 275,000 Fair value adjustment-available-for-sale securities (Dr) A 8,000 Goodwill 200,000 Income taxes payable 120,000 Inventory 170,000...
Problem 1 Listed here are items taken from the balance sheet of Medical Electronics, Inc. for...
Problem 1 Listed here are items taken from the balance sheet of Medical Electronics, Inc. for the year ended December 31, 2018. Prepare a properly classified and labeled balance sheet statement using the items listed below. See textbook, pages 29 – 31 and 46 - 47. Accumulated depreciation............................. $155,000 Retained earnings.................................... 142,000 Cash................................................. 6,000 Bonds payable........................................ 152,000 Accounts receivable.................................. 95,000 Plant and equipment—original cost.................... 345,000 Accruals……………………………………………………. 30,000 Accounts payable..................................... 15,000 Allowance for bad debts.............................. 5,000 Common stock, $1 par, 50,000...
THE ANSWER IS NOT COMPLETE I DONT KNOW WHY (I DARE TO KNOW THE REASON ;) Problem 3-3 Balance sheet preparation [LO3-2, 3...
THE ANSWER IS NOT COMPLETE I DONT KNOW WHY (I DARE TO KNOW THE
REASON ;)
Problem 3-3 Balance sheet preparation [LO3-2, 3-3]
The following is a December 31, 2018, post-closing trial balance
for Almway Corporation.
Account Title
Debits
Credits
Cash
$
45,000
Investments
110,000
Accounts receivable
60,000
Inventories
200,000
Prepaid insurance (for the next 9 months)
9,000
Land
90,000
Buildings
420,000
Accumulated depreciation—buildings
$
100,000
Equipment
110,000
Accumulated depreciation—equipment
60,000
Patents (net of amortization)
10,000
Accounts payable
75,000
Notes...
The following items, listed in alphabetical order, are taken from the records of Grizzly Inc., a...
The following items, listed in alphabetical order, are taken from the records of Grizzly Inc., a chain of outdoor recreational stores in the Northwest. Use the items to prepare two statements. First, prepare an income statement for the year ended December 31, 2016. The income statement should be in multiple-step form. Second, prepare a classified balance sheet at December 31, 2016. All amounts are in thousands of dollars. Accounts payable $ 6,500 Income tax expense $ 9,000 Accounts receivable 8,200 Insurance expense...
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...
I need to create a statement of cash flow from the following information. The balance sheet...
I need to create a statement of cash flow from the following information. The balance sheet accounts of Rockwall Corporation at the beginning and end of 2016 are: 31-Dec-16 1-Jan-16 Cash $99,435 $110,700 Accounts Receivable $424,600 $380,900 Inventory $635,740 $576,475 Prepaid Expenses $20,000 $12,000 Investment in subsidiary $200,000 $0 Held to Maturity Debt Securities $16,460 $14,850 Land $100,000 $100,000 Buildings $525,000 $400,000 Equipment $381,000 $290,000 Patents $86,000 $70,000 Trademarks $25,000 $35,000 Bond Discount and issue costs $1,165 $6,075 Total Debits...
eBook Calculator Classified Balance Sheet The following balance sheet items, listed in alphabetical order, are available from the records of Ruth Corporation at December 31, 2017: $17,395 $6,540 1,370 Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings Automobiles Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash 22,615 23,100 43,260 115,500 42,510 247,000 85,360 Income taxes payable Interest payable Inventory Land Long-term investments Notes payable, due June 30, 2018 office supplies Pald-in...
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...
P16-6A The following data, presented in alphabetical order, are taken from the records Nieto Corporation Accounts payable $ 260,000 Accounts receivable 140,000 Accumulated depreciation buildings 180,000 Accumulated depreciation-equipment 52,000 Allowance for doubtful accounts 6,000 Bonds payable (10%, due 2025) 500,000 Buildings 950,000 Cash 62,000 Common stock ($10 par value; 500,000 shares authorized, 150,000 shares issued) 1,500,000 Dividends payable g r id 80,000 Equipment COSTA 275,000 Fair value adjustment-available-for-sale securities (Dr) A 8,000 Goodwill 200,000 Income taxes payable 120,000 Inventory 170,000...
THE ANSWER IS NOT COMPLETE I DONT KNOW WHY (I DARE TO KNOW THE
REASON ;)
Problem 3-3 Balance sheet preparation [LO3-2, 3-3]
The following is a December 31, 2018, post-closing trial balance
for Almway Corporation.
Account Title
Debits
Credits
Cash
$
45,000
Investments
110,000
Accounts receivable
60,000
Inventories
200,000
Prepaid insurance (for the next 9 months)
9,000
Land
90,000
Buildings
420,000
Accumulated depreciation—buildings
$
100,000
Equipment
110,000
Accumulated depreciation—equipment
60,000
Patents (net of amortization)
10,000
Accounts payable
75,000
Notes...
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...
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