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These items are taken from the financial statements of Pina Colada Corp. at December 31, 2018....
Prepare a classified statement of financial position. Assume that $19,720 of the bank loan payable will...
Prepare a classified statement of financial position. Assume that $19,720 of the bank loan payable will be paid in 2019. (List Property, plant and equipment in order of land, buildings and equipment. List Current Assets in order of liquidity.) 'PINA COLADA CORP. Statement of Financial Position Assets These items are taken from the financial statements of Pina Colada Corp. at December 31, 2018. Buildings $153,410 Accounts receivable 18,270 Prepaid insurance 6,786 Cash 17,168 Equipment 119,480 Land 88,740 Office expense 841...
The following balances were taken from the books of Pina Colada Limited on December 31, 2020:...
The following balances were taken from the books of Pina Colada Limited on December 31, 2020: Interest income Cash Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts Land Equipment Building Cost of goods sold $87,000 52,000 1,390,000 130,000 17,000 126,000 6,000 44,000 100,000 200,000 150,000 626,000 Accumulated depreciation-equipment Accumulated depreciation-buildings Notes receivable Selling expenses Accounts payable Bonds payable Administrative expenses Unearned revenue Interest expense Notes payable Loss from storm damage Depreciation expense...
These items are taken from the financial statements of Concord Corp. at December 31, 2018. $100,510...
These items are taken from the financial statements of Concord Corp. at December 31, 2018. $100,510 11,970 4,446 11,248 78,280 58,140 551 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings (January 1, 2018) Accumulated depreciation-building Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) Accumulated depreciation-equipment Interest payable Sales 190 5,035 2,470 58,900 38,000 43,320 7,980 1,045 88,920 17,784 3,420 13,471 Calculate the net...
These items are taken from the financial statements of Swifty Corp. at December 31, 2018. Buildings...
These items are taken from the financial statements of Swifty Corp. at December 31, 2018. Buildings $179,860 Accounts receivable 21,420 Prepaid insurance 7,956 Cash 20,128 Equipment 140,080 Land 104,040 Office expense 986 Income tax expense 340 Depreciation expense 9,010 Interest expense 4,420 Common shares 105,400 Retained earnings (January 1, 2018) 68,000 Accumulated depreciation-building 77,520 Accounts payable 14,280 Income taxes payable 1,870 Bank loan payable (due July 1, 2020) 159,120 Accumulated depreciation-equipment 31,824 Interest payable 6,120 Sales 24,106 (a) Calculate the...
These items are taken from the financial statements of Novak Corp. at December 31, 2018 Buildings...
These items are taken from the financial statements of Novak Corp. at December 31, 2018 Buildings Accounts receivable Prepaid insurance Cash Equipment $148,120 17,640 6,552 16,576 115,360 85,680 812 280 7.420 3,640 86,800 Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings Uanuary 1,2018) 56,000 Accumulated depreciation-building Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) 131040 63840 11,760 Income taxes payable Bank loan payable (due July 1,2020) 131040 Accumulated depreciation-equipment 26,208 Interest...
Problem 12-07A a-b (Video) The following are the financial statements of Pina Colada Corp Pina Colada...
Problem 12-07A a-b (Video) The following are the financial statements of Pina Colada Corp Pina Colada Corp. Comparative Balance Sheets December 31 Asset Cash Accounts receivable Inventory Equipment Accumulated depreciation-equipment (29,600) (23,200) 2020 2019 $36,900 $19,500 18,600 20,300 78,000 32,100 30,000 59,600 Total $129,000 $113,200 Liabilities and Stockholders Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $28,200 $16,500 8,500 32,400 13,800 42,000 $129,000 $113,200 7,100 26,700 17,500 49,500 Total
Pina Colada Corp.’s balance sheet at December 31, 2018, is presented below. Pina Colada Corp. Balance...
Pina Colada Corp.’s balance sheet at December 31, 2018, is
presented below.
Pina Colada Corp.
Balance Sheet
December 31, 2018
Cash
$14,300
Accounts payable
$8,900
Accounts receivable
20,600
Common stock
19,500
Allowance for doubtful accounts
(700
)
Retained earnings
14,900
Inventory
9,100
$43,300
$43,300
During January 2019, the following transactions occurred. Pina
Colada uses the perpetual inventory method.
Jan. 1
Pina Colada accepted a 4-month, 8% note from Merando Company in
payment of Merando’s $5,100 account.
3
Pina Colada wrote...
These items are taken from the financial statements of Marigold Corp. at December 31, 2018. Buildings...
These items are taken from the financial statements of Marigold Corp. at December 31, 2018. Buildings $132,250 Accounts receivable 15,750 Prepaid insurance 5,850 Cash 14,800 Equipment 103,000 Land 76,500 Office expense 725 Income tax expense 250 Depreciation expense 6,625 Interest expense 3,250 Common shares 77,500 Retained earnings (January 1, 2018) 50,000 Accumulated depreciation-building 57,000 Accounts payable 10,500 Income taxes payable 1,375 Bank loan payable (due July 1, 2020) 117,000 Accumulated depreciation-equipment 23,400 Interest payable 4,500 Sales 17,725 Liabilities and Shareholders'...
These items are taken from the financial statements of Carla Vista Ltd. at December 31, 2018:...
These items are taken from the financial statements of Carla Vista Ltd. at December 31, 2018: Accounts payable $22,050 Interest expense $5,300 Accounts receivable 18,780 Interest payable 3,800 Accumulated depreciation-buildings 53,600 Land 185,970 Accumulated depreciation equipment 20,470 Long-term investments 30,970 Service revenue 187,040 Mortgage payable 102,000 Buildings 137,800 Operating expenses 159,680 Cash 28,040 Prepaid insurance 1,400 Common shares 138,000 Retained earnings, January 1 118,520 Equipment 70,100 Supplies 1,840 Income tax expense 5,600 Calculate net income and the ending balance of...
Comprehensive Problem 8 (Part Level Submission) Pina Colada Corp.’s balance sheet at December 31, 2018, is...
Comprehensive Problem 8 (Part Level
Submission)
Pina Colada Corp.’s balance sheet at December 31, 2018, is
presented below.
Pina Colada Corp.
Balance Sheet
December 31, 2018
Cash
$14,300
Accounts payable
$8,900
Accounts receivable
20,600
Common stock
19,500
Allowance for doubtful accounts
(700
)
Retained earnings
14,900
Inventory
9,100
$43,300
$43,300
During January 2019, the following transactions occurred. Pina
Colada uses the perpetual inventory method.
Jan. 1
Pina Colada accepted a 4-month, 8% note from Merando Company in
payment of Merando’s...
Prepare a classified statement of financial position. Assume that $19,720 of the bank loan payable will be paid in 2019. (List Property, plant and equipment in order of land, buildings and equipment. List Current Assets in order of liquidity.) 'PINA COLADA CORP. Statement of Financial Position Assets These items are taken from the financial statements of Pina Colada Corp. at December 31, 2018. Buildings $153,410 Accounts receivable 18,270 Prepaid insurance 6,786 Cash 17,168 Equipment 119,480 Land 88,740 Office expense 841...
The following balances were taken from the books of Pina Colada Limited on December 31, 2020: Interest income Cash Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts Land Equipment Building Cost of goods sold $87,000 52,000 1,390,000 130,000 17,000 126,000 6,000 44,000 100,000 200,000 150,000 626,000 Accumulated depreciation-equipment Accumulated depreciation-buildings Notes receivable Selling expenses Accounts payable Bonds payable Administrative expenses Unearned revenue Interest expense Notes payable Loss from storm damage Depreciation expense...
These items are taken from the financial statements of Concord Corp. at December 31, 2018. $100,510 11,970 4,446 11,248 78,280 58,140 551 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings (January 1, 2018) Accumulated depreciation-building Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) Accumulated depreciation-equipment Interest payable Sales 190 5,035 2,470 58,900 38,000 43,320 7,980 1,045 88,920 17,784 3,420 13,471 Calculate the net...
These items are taken from the financial statements of Swifty Corp. at December 31, 2018. Buildings $179,860 Accounts receivable 21,420 Prepaid insurance 7,956 Cash 20,128 Equipment 140,080 Land 104,040 Office expense 986 Income tax expense 340 Depreciation expense 9,010 Interest expense 4,420 Common shares 105,400 Retained earnings (January 1, 2018) 68,000 Accumulated depreciation-building 77,520 Accounts payable 14,280 Income taxes payable 1,870 Bank loan payable (due July 1, 2020) 159,120 Accumulated depreciation-equipment 31,824 Interest payable 6,120 Sales 24,106 (a) Calculate the...
These items are taken from the financial statements of Novak Corp. at December 31, 2018 Buildings Accounts receivable Prepaid insurance Cash Equipment $148,120 17,640 6,552 16,576 115,360 85,680 812 280 7.420 3,640 86,800 Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings Uanuary 1,2018) 56,000 Accumulated depreciation-building Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) 131040 63840 11,760 Income taxes payable Bank loan payable (due July 1,2020) 131040 Accumulated depreciation-equipment 26,208 Interest...
Problem 12-07A a-b (Video) The following are the financial statements of Pina Colada Corp Pina Colada Corp. Comparative Balance Sheets December 31 Asset Cash Accounts receivable Inventory Equipment Accumulated depreciation-equipment (29,600) (23,200) 2020 2019 $36,900 $19,500 18,600 20,300 78,000 32,100 30,000 59,600 Total $129,000 $113,200 Liabilities and Stockholders Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $28,200 $16,500 8,500 32,400 13,800 42,000 $129,000 $113,200 7,100 26,700 17,500 49,500 Total
Pina Colada Corp.’s balance sheet at December 31, 2018, is
presented below.
Pina Colada Corp.
Balance Sheet
December 31, 2018
Cash
$14,300
Accounts payable
$8,900
Accounts receivable
20,600
Common stock
19,500
Allowance for doubtful accounts
(700
)
Retained earnings
14,900
Inventory
9,100
$43,300
$43,300
During January 2019, the following transactions occurred. Pina
Colada uses the perpetual inventory method.
Jan. 1
Pina Colada accepted a 4-month, 8% note from Merando Company in
payment of Merando’s $5,100 account.
3
Pina Colada wrote...
These items are taken from the financial statements of Marigold Corp. at December 31, 2018. Buildings $132,250 Accounts receivable 15,750 Prepaid insurance 5,850 Cash 14,800 Equipment 103,000 Land 76,500 Office expense 725 Income tax expense 250 Depreciation expense 6,625 Interest expense 3,250 Common shares 77,500 Retained earnings (January 1, 2018) 50,000 Accumulated depreciation-building 57,000 Accounts payable 10,500 Income taxes payable 1,375 Bank loan payable (due July 1, 2020) 117,000 Accumulated depreciation-equipment 23,400 Interest payable 4,500 Sales 17,725 Liabilities and Shareholders'...
These items are taken from the financial statements of Carla Vista Ltd. at December 31, 2018: Accounts payable $22,050 Interest expense $5,300 Accounts receivable 18,780 Interest payable 3,800 Accumulated depreciation-buildings 53,600 Land 185,970 Accumulated depreciation equipment 20,470 Long-term investments 30,970 Service revenue 187,040 Mortgage payable 102,000 Buildings 137,800 Operating expenses 159,680 Cash 28,040 Prepaid insurance 1,400 Common shares 138,000 Retained earnings, January 1 118,520 Equipment 70,100 Supplies 1,840 Income tax expense 5,600 Calculate net income and the ending balance of...
Comprehensive Problem 8 (Part Level
Submission)
Pina Colada Corp.’s balance sheet at December 31, 2018, is
presented below.
Pina Colada Corp.
Balance Sheet
December 31, 2018
Cash
$14,300
Accounts payable
$8,900
Accounts receivable
20,600
Common stock
19,500
Allowance for doubtful accounts
(700
)
Retained earnings
14,900
Inventory
9,100
$43,300
$43,300
During January 2019, the following transactions occurred. Pina
Colada uses the perpetual inventory method.
Jan. 1
Pina Colada accepted a 4-month, 8% note from Merando Company in
payment of Merando’s...
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