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-/8 Question 6 of 9 View Policies Current Attempt in Progress The balance sheet data of Whispering Company at the end of 2020 and 2019 are shown below. Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land 2020 $29.900 55,400 64,800 15,100 89,600 (17.920) 70.100 $306,980 2019 $35.100 45,100 44,700 24,700 74,700 (8,000) 40,400 $256,700 Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings $64.400 15,200 -0 29.900 189.300 8,180 $306,980 $52.400...
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Question 1 View Policies Current Attempt in Progress Shown below are comparative balance sheets for Buffalo Industries. Buffalo Industries Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 183,600 Accounts receivable 237,600 Inventory 450,900 $59.400 205,200 510,300 270,000 540,000 (86,400) Land Equipment 216,000 702,000 (178,200) Accumulated depreciation-equipment Total $1,611,900 $1.498,500 Liabilities and Stockholders' Equity Accounts payable $ 105,300 $ 116,100 405,000 540,000 583,200 469,800 Bonds payable Common stock ($1 par) Retained earnings Total 518,400 $1,611,900 372,600 $1498.500 Additional Information...
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Question 8 View Policies Current Attempt in Progress Swifty Corporation had the following accounts and balances: Accounts payable Accounts receivable Buildings en el Cash $29900 Equipment 5400 Land ? Unearned service revenue 15100 Total stockholders' $35400 34400 9600 Cash equity If the balance of the Bulldings account was $73100 and $4600 of Accounts Payable were paid in cash, what would be the balance of the total stockholders' equity? $174400 $139000 $133500 $123900 A Ad VIS
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--/4 Question 3 View Policies Current Attempt in Progress The current sections of Buffalo Corp's balance sheets at December 31, 2021 and 2022, are presented here. Buffalo Corp's net income for 2022 was $114,750. Depreciation expense was $20,250. ort 2022 2021 I Current assets Cash $78,750 $74,250 60,000 66,750 126,000 129,000 20,250 16,500 Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable $285,000 $286,500 $ 11.250 $3,750 63.750 69.000 Total current liabilities $75,000 $72.750...
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Question 2 --/3 View Policies Current Attempt in Progress The comparative statement of financial position for Sandhill Corporation shows the following noncash current asset and liability accounts at March 31: 2018 2017 Accounts receivable $66,000 $46,500 Inventory 77,000 64,500 Accounts payable 32,500 49,000 Dividends payable 1,500 2,000 Sandhill's income statement reported the following selected information for the year ended March 31, 2018: net income was $270,000, depreciation expense was $63,000, and a loss on the disposal of land was $14,000....
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Question 8 View Policies Current Attempt in Progress These items are taken from the financial statements of Sheridan Company at December 31, 2022. $120.612 14,364 3,648 13,498 93,936 69,768 889 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2022) Accumulated depreciation-buildings Accounts payable Notes payable Accumulated depreciation equipment Interest payable Service revenue 6,042 2.964 68,400 45,600 51,984 10,830 106,704 21,341 4,104 16,758 Prepare a classified balance sheet. Assume...
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-/8 Question 18 of 50 View Policies Current Attempt in Progress Pancho Company reported net income of $240,000 for 2020. Pancho sold equipment that cost $108,000 and had a book value of $64,800 for $54,800. The comparative balance sheet shows a decrease in accounts receivable of $21,000 for the year, a $14,000 increase in accounts payable, a $3,000 increase in prepaid expenses, and a $19,000 increase in accumulated depreciation. Prepare the operating activities section of the statement of cash flows...
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Question 5 of 6 < - /5 E View Policies Current Attempt in Progress Selected transactions from the journal of Kingbird, Inc. during its first month of operations are presented here. Account Titles Debit Credit Date Aug 1 Cash 7,800 7,800 10 1,750 1.750 12 6,600 Common Stock Cash Service Revenue Equipment Cash Notes Payable Accounts Receivable Service Revenue Cash Accounts Receivable 1,700 4,900 25 2,810 2,810 31 730 730 (a) Post the transactions to T-accounts. (Post entries in the...
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Question 3 View Policies Current Attempt in Progress The following information is available for Shamrock, Inc. for the year ended December 31, 2022. Beginning cash balance Accounts payable increase Depreciation expense Accounts receivable decrease Inventory decrease Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable decrease Cash used to purchase land Cash used to redeem bonds Cash received from issuing stock $ 43,200 10,260 73.800 8,640 5,580 102,960 187,200 68,400 7,020 145,800...
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Question 6 0.5 View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. The current sections of Pronghorn Corp's balance sheets at December 31, 2021 and 2022, are presented here. Pronghorn Corp's net income for 2022 was $304,800. Depreciation expense was $50,400. 2022 2021 Current assets $74,400 $ 106,800 Cash Accounts receivable 102.000 82,800 Inventory 93,600 74,400 Prepaid expenses 20,400 22,800 $290,400 $286,800 Total current assets Current liabilities $ 19,200 $7,200 Accrued expenses payable 105,600 86,400...
-/8 Question 6 of 9 View Policies Current Attempt in Progress The balance sheet data of Whispering Company at the end of 2020 and 2019 are shown below. Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land 2020 $29.900 55,400 64,800 15,100 89,600 (17.920) 70.100 $306,980 2019 $35.100 45,100 44,700 24,700 74,700 (8,000) 40,400 $256,700 Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings $64.400 15,200 -0 29.900 189.300 8,180 $306,980 $52.400...
Question 1 View Policies Current Attempt in Progress Shown below are comparative balance sheets for Buffalo Industries. Buffalo Industries Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 183,600 Accounts receivable 237,600 Inventory 450,900 $59.400 205,200 510,300 270,000 540,000 (86,400) Land Equipment 216,000 702,000 (178,200) Accumulated depreciation-equipment Total $1,611,900 $1.498,500 Liabilities and Stockholders' Equity Accounts payable $ 105,300 $ 116,100 405,000 540,000 583,200 469,800 Bonds payable Common stock ($1 par) Retained earnings Total 518,400 $1,611,900 372,600 $1498.500 Additional Information...
Question 8 View Policies Current Attempt in Progress Swifty Corporation had the following accounts and balances: Accounts payable Accounts receivable Buildings en el Cash $29900 Equipment 5400 Land ? Unearned service revenue 15100 Total stockholders' $35400 34400 9600 Cash equity If the balance of the Bulldings account was $73100 and $4600 of Accounts Payable were paid in cash, what would be the balance of the total stockholders' equity? $174400 $139000 $133500 $123900 A Ad VIS
--/4 Question 3 View Policies Current Attempt in Progress The current sections of Buffalo Corp's balance sheets at December 31, 2021 and 2022, are presented here. Buffalo Corp's net income for 2022 was $114,750. Depreciation expense was $20,250. ort 2022 2021 I Current assets Cash $78,750 $74,250 60,000 66,750 126,000 129,000 20,250 16,500 Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable $285,000 $286,500 $ 11.250 $3,750 63.750 69.000 Total current liabilities $75,000 $72.750...
Question 2 --/3 View Policies Current Attempt in Progress The comparative statement of financial position for Sandhill Corporation shows the following noncash current asset and liability accounts at March 31: 2018 2017 Accounts receivable $66,000 $46,500 Inventory 77,000 64,500 Accounts payable 32,500 49,000 Dividends payable 1,500 2,000 Sandhill's income statement reported the following selected information for the year ended March 31, 2018: net income was $270,000, depreciation expense was $63,000, and a loss on the disposal of land was $14,000....
Question 8 View Policies Current Attempt in Progress These items are taken from the financial statements of Sheridan Company at December 31, 2022. $120.612 14,364 3,648 13,498 93,936 69,768 889 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2022) Accumulated depreciation-buildings Accounts payable Notes payable Accumulated depreciation equipment Interest payable Service revenue 6,042 2.964 68,400 45,600 51,984 10,830 106,704 21,341 4,104 16,758 Prepare a classified balance sheet. Assume...
-/8 Question 18 of 50 View Policies Current Attempt in Progress Pancho Company reported net income of $240,000 for 2020. Pancho sold equipment that cost $108,000 and had a book value of $64,800 for $54,800. The comparative balance sheet shows a decrease in accounts receivable of $21,000 for the year, a $14,000 increase in accounts payable, a $3,000 increase in prepaid expenses, and a $19,000 increase in accumulated depreciation. Prepare the operating activities section of the statement of cash flows...
Question 5 of 6 < - /5 E View Policies Current Attempt in Progress Selected transactions from the journal of Kingbird, Inc. during its first month of operations are presented here. Account Titles Debit Credit Date Aug 1 Cash 7,800 7,800 10 1,750 1.750 12 6,600 Common Stock Cash Service Revenue Equipment Cash Notes Payable Accounts Receivable Service Revenue Cash Accounts Receivable 1,700 4,900 25 2,810 2,810 31 730 730 (a) Post the transactions to T-accounts. (Post entries in the...
Question 3 View Policies Current Attempt in Progress The following information is available for Shamrock, Inc. for the year ended December 31, 2022. Beginning cash balance Accounts payable increase Depreciation expense Accounts receivable decrease Inventory decrease Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable decrease Cash used to purchase land Cash used to redeem bonds Cash received from issuing stock $ 43,200 10,260 73.800 8,640 5,580 102,960 187,200 68,400 7,020 145,800...
Question 6 0.5 View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. The current sections of Pronghorn Corp's balance sheets at December 31, 2021 and 2022, are presented here. Pronghorn Corp's net income for 2022 was $304,800. Depreciation expense was $50,400. 2022 2021 Current assets $74,400 $ 106,800 Cash Accounts receivable 102.000 82,800 Inventory 93,600 74,400 Prepaid expenses 20,400 22,800 $290,400 $286,800 Total current assets Current liabilities $ 19,200 $7,200 Accrued expenses payable 105,600 86,400...