HELP! The trial balance for K and J Nursery, Inc., listed the following account balances at...
HELP! The trial balance for K and J Nursery, Inc., listed the
following account balances at December 31, 2021, the end of its
fiscal year: cash, $22,000; accounts receivable, $17,000;
inventory, $31,000; equipment (net), $86,000; accounts payable,
$20,000; salaries payable, $8,000; interest payable, $4,000; notes
payable (due in 18 months), $36,000; common stock, $62,000.
Calculate total current assets and total current liabilities that
would appear in the company's year-end balance sheet.
Homework Answers
Current assets:
= Cash + Accounts receivable + Inventory
= $22,000 + $17,000 + $31,000
= $70,000
Current liabilities:
= Accounts payable + Salaries payable + Interest payable
= $20,000 + $8,000 + $4,000
= $32,000
Add Answer to:
HELP! The trial balance for K and J Nursery, Inc., listed the
following account balances at...
HELP! The trial balance for K and J Nursery, Inc., listed the following account balances at...
HELP! The trial balance for K and J Nursery, Inc., listed the
following account balances at December 31, 2021, the end of its
fiscal year: cash, $27,000; accounts receivable, $22,000;
inventory, $36,000; equipment (net), $91,000; accounts payable,
$25,000; salaries payable, $10,500; interest payable, $6,500; notes
payable (due in 18 months), $41,000; common stock, $72,000. Prepare
a classified balance sheet for K and J Nursery, Inc. The equipment
originally cost $170,000. (Amounts to be deducted should be
indicated by a minus...
The trial balance for K and J Nursery, Inc., listed the following account balances at December...
The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2021, the end of its fiscal year, cash, $25,000; accounts receivable, $20,000; inventory, $34,000, equipment (net). $89,000; accounts payable, $23,000, salaries payable, $9,500; interest payable, $5,500; notes payable (due in 18 months), $39.000, common stock, $68,000. Determine the year-end balance in retained earnings for K and J Nursery, Inc. Retained earnings
The trial balance for K and J Nursery, Inc., listed the following account balances at December...
The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2021, the end of its fiscal year: cash, $26,000; accounts receivable, $21,000; inventory, $35,000; equipment (net). $90,000; accounts payable, $24,000; salaries payable, $10,000; interest payable, $6,000; notes payable (due in 18 months), $40,000; common stock, $70,000. Determine the year-end balance in retained earnings for K and J Nursery, Inc. Retained earnings
please complete balance sheet The trial balance for K and J Nursery, Inc., listed the following...
please complete balance sheet
The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2021, the end of its fiscal year: cash, $20,000; accounts receivable, $15,000; inventory, $29,000; equipment (net). $84,000; accounts payable, $18,000: salaries payable. $7,000; interest payable, $3,000; notes payable (due in 18 months). $34,000; common stock, $58,000. Prepare a classified balance sheet for K and J Nursery, Inc. The equipment originally cost $135,000. (Amounts to be deducted should be indicated...
The trial balance for K and J Nursery, Inc., listed the following account balances at December...
The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2018, the end of its fiscal year: cash, $16,000, accounts receivable. $11,000. Inventories, $25.000, equipment (net) $80,000, accounts payable, $14,000wages payable. $9.000, interest payable, $1,000, note payable (due in 18 months). $30,000, common stock, $50,000. Prepare a classified balance sheet for K and J Nursery, Inc. The equipment originally cost $140,000. (Amounts to be deducted should be indicated by a minus sign.) K...
TER 3 ASSIGNMENT J Nursery, Inc, listed the following account balances at December 31 2018, the...
TER 3 ASSIGNMENT J Nursery, Inc, listed the following account balances at December 31 2018, the end of ts fiscal year cash, The trial balance for K and $16,000, accounts receivable, $11000, inventories, $25,000 equipment (net), $80000, accounts payable. $14.000: wages payable $9,000, nterest payable, $1,000, note payable (due in 18 months), $30000, common stock $50,000 Prepare a classified balance sheet for K and J Nursery, Inc The equipment originaly cost $140,000 (Amounts to be deducted should be indicated by...
The following account balances were taken from DJR Company’s accounting records at December 31, 2021: Accounts...
The following account balances were taken from DJR Company’s
accounting records at December 31, 2021:
Accounts Payable ............ $69,000
Accounts Receivable ......... $56,000
Advertising Expense ......... $33,000
Building .................... $94,000
Cash ........................ $31,000
Common Stock ................ $82,000
Cost of Goods Sold .......... $30,000
Dividends ................... $19,000
Equipment ................... $86,000
Income Tax Expense .......... $17,000
Interest Expense ............ $11,000
Inventory ................... $54,000
Notes Payable ............... $96,000
Rental Revenue .............. $62,000
Retained Earnings ........... $60,000 (at January 1, 2021)
Salaries Expense ...............
The following account balances appear in the 2021 adjusted trial balance of Blue Devils Corporation: Cash,...
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...
The following account balances were taken from DJR Company’s accounting records at December 31, 2021: Accounts...
The following account balances were taken from DJR Company’s
accounting records at December 31, 2021:
Accounts Payable ............ $69,000
Accounts Receivable ......... $56,000
Advertising Expense ......... $33,000
Building .................... $94,000
Cash ........................ $31,000
Common Stock ................ $82,000
Cost of Goods Sold .......... $30,000
Dividends ................... $19,000
Equipment ................... $86,000
Income Tax Expense .......... $17,000
Interest Expense ............ $11,000
Inventory ................... $54,000
Notes Payable ............... $96,000
Rental Revenue .............. $62,000
Retained Earnings ........... $60,000 (at January 1, 2021)
Salaries Expense ...............
Question No. (5) (15 minutes): The following account balances were obtained from the trial balance of...
Question No. (5) (15 minutes): The following account balances were obtained from the trial balance of Alfa Corporation at 31 December 2016. Supplies 1,000 Cash 32,000 Wages Expense 14,000 Dividends 16,000 Accounts Payable 22,000 Notes Payable 4,000 Retained Earnings, 1 Jan, 2016 8,000 Accounts Receivable ??? Rent Expense 6,000 Share Capital 20,000 Commissions Revenue 30,000 Required: Calculate at, or for the year ended, December 31, 2016 (a) Net income or Loss. (b) Retained Earnings. (c) Total Liabilities and Equity. (d)...
HELP! The trial balance for K and J Nursery, Inc., listed the
following account balances at December 31, 2021, the end of its
fiscal year: cash, $27,000; accounts receivable, $22,000;
inventory, $36,000; equipment (net), $91,000; accounts payable,
$25,000; salaries payable, $10,500; interest payable, $6,500; notes
payable (due in 18 months), $41,000; common stock, $72,000. Prepare
a classified balance sheet for K and J Nursery, Inc. The equipment
originally cost $170,000. (Amounts to be deducted should be
indicated by a minus...
The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2021, the end of its fiscal year, cash, $25,000; accounts receivable, $20,000; inventory, $34,000, equipment (net). $89,000; accounts payable, $23,000, salaries payable, $9,500; interest payable, $5,500; notes payable (due in 18 months), $39.000, common stock, $68,000. Determine the year-end balance in retained earnings for K and J Nursery, Inc. Retained earnings
The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2021, the end of its fiscal year: cash, $26,000; accounts receivable, $21,000; inventory, $35,000; equipment (net). $90,000; accounts payable, $24,000; salaries payable, $10,000; interest payable, $6,000; notes payable (due in 18 months), $40,000; common stock, $70,000. Determine the year-end balance in retained earnings for K and J Nursery, Inc. Retained earnings
please complete balance sheet
The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2021, the end of its fiscal year: cash, $20,000; accounts receivable, $15,000; inventory, $29,000; equipment (net). $84,000; accounts payable, $18,000: salaries payable. $7,000; interest payable, $3,000; notes payable (due in 18 months). $34,000; common stock, $58,000. Prepare a classified balance sheet for K and J Nursery, Inc. The equipment originally cost $135,000. (Amounts to be deducted should be indicated...
The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2018, the end of its fiscal year: cash, $16,000, accounts receivable. $11,000. Inventories, $25.000, equipment (net) $80,000, accounts payable, $14,000wages payable. $9.000, interest payable, $1,000, note payable (due in 18 months). $30,000, common stock, $50,000. Prepare a classified balance sheet for K and J Nursery, Inc. The equipment originally cost $140,000. (Amounts to be deducted should be indicated by a minus sign.) K...
TER 3 ASSIGNMENT J Nursery, Inc, listed the following account balances at December 31 2018, the end of ts fiscal year cash, The trial balance for K and $16,000, accounts receivable, $11000, inventories, $25,000 equipment (net), $80000, accounts payable. $14.000: wages payable $9,000, nterest payable, $1,000, note payable (due in 18 months), $30000, common stock $50,000 Prepare a classified balance sheet for K and J Nursery, Inc The equipment originaly cost $140,000 (Amounts to be deducted should be indicated by...
The following account balances were taken from DJR Company’s
accounting records at December 31, 2021:
Accounts Payable ............ $69,000
Accounts Receivable ......... $56,000
Advertising Expense ......... $33,000
Building .................... $94,000
Cash ........................ $31,000
Common Stock ................ $82,000
Cost of Goods Sold .......... $30,000
Dividends ................... $19,000
Equipment ................... $86,000
Income Tax Expense .......... $17,000
Interest Expense ............ $11,000
Inventory ................... $54,000
Notes Payable ............... $96,000
Rental Revenue .............. $62,000
Retained Earnings ........... $60,000 (at January 1, 2021)
Salaries 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...
The following account balances were taken from DJR Company’s
accounting records at December 31, 2021:
Accounts Payable ............ $69,000
Accounts Receivable ......... $56,000
Advertising Expense ......... $33,000
Building .................... $94,000
Cash ........................ $31,000
Common Stock ................ $82,000
Cost of Goods Sold .......... $30,000
Dividends ................... $19,000
Equipment ................... $86,000
Income Tax Expense .......... $17,000
Interest Expense ............ $11,000
Inventory ................... $54,000
Notes Payable ............... $96,000
Rental Revenue .............. $62,000
Retained Earnings ........... $60,000 (at January 1, 2021)
Salaries Expense ...............
Question No. (5) (15 minutes): The following account balances were obtained from the trial balance of Alfa Corporation at 31 December 2016. Supplies 1,000 Cash 32,000 Wages Expense 14,000 Dividends 16,000 Accounts Payable 22,000 Notes Payable 4,000 Retained Earnings, 1 Jan, 2016 8,000 Accounts Receivable ??? Rent Expense 6,000 Share Capital 20,000 Commissions Revenue 30,000 Required: Calculate at, or for the year ended, December 31, 2016 (a) Net income or Loss. (b) Retained Earnings. (c) Total Liabilities and Equity. (d)...
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