Styles The comparative unclassified Balance Sheet for Company Q as follows: COMPANY QLTD. BALANCE SHEET December...
The comparative unclassified Balance Sheet for Company Q as follows: COMPANY Q LTD. BALANCE SHEET December 31 2019 2018 Assets Cash $ 53,000 $ 22,000 Accounts receivable 80,000 76,000 Merchandise inventory 185,000 189,000 Land 70,000 100.000 Equipment 265,000 200,000 Accumulated depreciation (66,000) (17,000) Total assets $587,000 $555,000 Liabilities and Shareholders' Equity Accounts payable $ 39,000 $ 47,000 Bank loan payable 150,000 200,000 Common shares 199,000 174,000 Retained earnings 199,000 134,000 Total liabilities and shareholders' equity S587,000 $555,000 23 Additional information:...
yies Question #2 (25 marks) The comparative unclassified Balance Sheet for Company Q as follows: COMPANY Q LTD. BALANCE SHEET December 31 2019 2018 Assets Cash $ 53,000 $ 22,000 Accounts receivable 80,000 76,000 Merchandise inventory 185,000 189,000 Land 70,000 100,000 Equipment 265,000 200,000 Accumulated depreciation (66,000) (17,000) Total assets $587,000 $555,000 Liabilities and Shareholders' Equity Accounts payable $ 39,000 $ 47,000 Bank loan payable 150.000 200.000 Common shares 199,000 174,000 Retained earnings 199,000 134,000 Total liabilities and shareholders' equity...
The comparative unclassified Balance Sheet for Company P as follows: COMPANY P LTD. BALANCE SHEET December 31 2019 2018 Assets Cash $ 53,000 $ 22,000 Accounts receivable 80,000 76,000 Merchandise inventory 185,000 189.000 Land 70,000 100,000 Equipment 265,000 200,000 Accumulated depreciation (66,000) (32,000) Total assets $587,000 $555,000 Liabilities and Shareholders' Equity Accounts payable $ 39,000 $ 47,000 Bank loan payable 150,000 200,000 Common shares 199,000 174,000 Retained earnings 199,000 134,000 Total liabilities and shareholders' equity $587,000 $555,000 Additional information: 1....
lif TE = BALANCE SHEET December 31 2019 2018 Assets Cash $ 53,000 $ 22,000 Accounts receivable 80,000 76,000 Merchandise inventory 185,000 189,000 Land 70,000 100,000 Equipment 265,000 200,000 Accumulated depreciation (66,000) (32,000) Total assets $587,000 $555,000 Liabilities and Shareholders' Equity Accounts payable $ 39,000 $ 47,000 Bank loan payable 150,000 200,000 Common shares 199,000 174,000 Retained carnings 199,000 134,000 Total liabilities and shareholders' equity $587,000 $555,000 Additional information: 1. Profit was $115,000. 2. Sales were $978,000. 3. Cost of...
* Question 6 The comparative unclassified statement of financial position for Sunland Ltd. follows: SUNLAND LTD. Statement of Financial Position December 31 Assets 2018 Cash $54,000 Accounts receivable 85,000 Inventory 182,000 Long-term investments 79,000 Equipment 265,000 Accumulated depreciation (65,000) Total assets $600,000 2017 $29,000 74,500 195,500 110,000 156,000 (33,000) 5532,000 Liabilities and Shareholders' Equity Accounts payable $36,000 Bank loan payable 126,000 Common shares 219,000 Retained eamings 219,000 Total liabilities and shareholders' equity $600,000 $ 45,000 184,000 171,000 132,000 $532,000 Additional...
* Question 6 The comparative unclassified statement of financial position for Sunland Ltd. follows: SUNLAND LTD. Statement of Financial Position December 31 Assets 2018 Cash $54,000 Accounts receivable 85,000 Inventory 182,000 Long-term investments 79,000 Equipment 265,000 Accumulated depreciation (65,000) Total assets $600,000 2017 $29,000 74,500 195,500 110,000 156,000 (33,000) $532,000 Liabilities and Shareholders' Equity Accounts payable $36,000 Bank loan payable 126,000 Common shares 219,000 Retained earnings 219,000 Total liabilities and shareholders' equity $600,000 $ 45,000 184,000 171,000 132,000 $532,000 Additional...
The comparative unclassified statement of financial position for Puffy Ltd. follows: PUFFY LTD. Statement of Financal Position Assets Cash Accounts receivable Merchandise inventory Land Equipment Accumulated depreciation Total assets 2015 2014 $58,910 $21,540 70,440 182,130 187,670 70,500 100,110 263,300 201,530 66,620) _(31.650) $584,280 $549,640 76,060 Liabilities and Shareholders' Equity Accounts payable Bank loan payable Common shares Retained earnings Total liabilities and shareholders' equity $584,280$549,640 $38,080 46,610 140,420 196,240 201,430 174,390 204,350 132,400 Additional information: 1. 2. 3. 4. 5. 6....
*Question 5 The comparative unclassified statement of financial position for Sunland Ltd. follows: SUNLAND LTD. Statement of Financial Position December 31 Assets 2018 2017 Cash $54,000 $29,000 Accounts receivable 85,000 74,500 Inventory 182,000 195,500 Long-term investments 79,000 110,000 Equipment 265,000 156,000 (65,000) $600,000 $532,000 Accumulated depreciation (33,000) Total assets Liabilities and Shareholders' Equity Accounts payable Bank loan payable S36,000 $45,000 126,000 184,000 219,000 171,000 Common shares Retained eamings 132,000 219,000 $532,000 Total liabilities and shareholders' equity $600,000 Additional information: Net...
MARZANO COMPANY Comparative Balance Sheets December 31 Assets 2017 Cash $ 63,000 Accounts receivable 88,000 Inventory 167,000 Land 80,000 Equipment 265,000 Accumulated depreciation-equipment (66,000) Total $597,000 Change 40,000 12.000 O, I or F Step #3 0 2016 $22,000 76,000 189,000 100,000 200,000 (32,000) $555,000 122,000) o (20, 000) I 65.000 I 34,000 0 0 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total $34,000 150,000 221,000 192,000 $597,000 $43,000 (9000) 200,000 (50,000) 174,000 (47,...
The comparative, unclassified statement of financial position for Ivanhoe Ltd. shows the following balances at December 31: Ivanhoe Ltd. Statement of Financial Position December 31 Assets 2018 2017 Cash $ 16,000 $ 38,000 Term deposits (maturing in 60 days) 0 46,000 Accounts receivable 77,000 40,000 Inventory 104,000 68,000 Land 187,000 234,000 Buildings 908,000 529,000 Accumulated depreciation—buildings (134,000 ) (188,000 ) Equipment 96,000 67,000 Accumulated depreciation—equipment (39,000 ) (21,000 ) Total assets $1,215,000 $813,000 Liabilities and Shareholders’ Equity Accounts payable $...