Homework Answers
| Balance Sheet | ||
| December 31,2022 | ||
| Assets | ||
| Current Assets | ||
| Cash | 14980 | |
| Accounts Receivable | 13600 | |
| Supplies | 3400 | |
| Prepaid Insurance | 6130 | |
| Total Current Assets | 38110 | |
| Long-term investments | ||
| Debt investment | 5200 | |
| Property Plant and Equipment | ||
| Equipment | 65300 | |
| Less: Accumulation Depreciation - Equipment | 22480 | 42820 |
| Intangible Assets | ||
| Trademarks | 1800 | |
| Total Assets | 87930 | |
| Liabilities and Stockholder's Equity | ||
| Current Liabilities / Liabilities | ||
| Accounts Payable | 17650 | |
| Salaries and wages payable | 5600 | |
| Total Current Liabilities / Liabilities | 23250 | |
| Stockholder's Equity | ||
| Common Stock | 22400 | |
| Retained Earnings | 42280 | |
| Total Stockholder's Equity | 64680 | |
| Total Liabilities and Stockholder's Equity | 87930 | |
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CULLUMBER COMPANY Balance Sheet December 31, 2022 Assets Current Assets Cash $ Accounts Receivable Total Current...
Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase...
Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase retained earnings first.) CULLUMBER COMPANY Retained Earnings Statement $ < $ These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages...
These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning...
These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $32,850 2,180 65,300 17,650 14,980 5,600 22,400 12,000 3,400 5,200 1,800 72,680 6,130 1,600 3,200 13,600 2,600 41,670 22,480 CULLUMBER COMPANY Income Statement For...
Solve for the rest please. These items are taken from the financial statements of Cullumber Company...
Solve for the rest please.
These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $32,850 2,180 65,300 17,650 14,980 5,600 22,400 12,000 3,400 5,200 1,800 72,680 6,130 1,600 3,200 13,600 2,600 41,670 22,480...
CULLUMBER COMPANY Income Statement $ $ $ These items are taken from the financial statements of...
CULLUMBER COMPANY Income Statement $ $ $ These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation equipment $32,850 2,180 65,300 17,650 14,980 5,600 22,400 12,000 3,400 5,200 1,800 72,680 6,130 1,600 3,200 13,600...
What's retained earnings. total stockholders' equity, and total liabilities and stockholders' equity? Accounts receivable $3,400 Cash...
What's retained earnings.
total stockholders' equity, and total liabilities and stockholders'
equity?
Accounts receivable $3,400 Cash $6.240 Accounts payable 3,700 Supplies 3,780 Interest payable 530 Unearned service revenue 940 Salaries and wages expense 5,400 Service revenue 41,850 Notes payable 32,500 Salaries and wages payable 770 Common stock 55,000 Depreciation expense 740 Inventory 2,810 Equipment (net) 110,600 Using the information above, prepare a balance sheet as of December 31, 2022. (List assets in order of liquidity.) Cullumber Company Balance Sheet December...
Cash $ 3,600 3,400 Accounts receivable Sandhill Co. Balance Sheet December 31, 2022 $ 29,000 Accounts...
Cash $ 3,600 3,400 Accounts receivable Sandhill Co. Balance Sheet December 31, 2022 $ 29,000 Accounts payable 23,100 Salaries and wages payable 10,600 Note payable (due 2025) 1,300 Total liabilities 3,000 25,900 Inventory 166,000 Supplies 173,000 Prepaid insurance Land Buildings Less: Accumulated depreciation 35,000 $248,000 Common stock (105,000) 143,000 Retained earnings 2,100 Total stockholders' equity $238,000 Total liabilities and stockholders' equity 30,000 Trademark Total assets 65,000 $238,000 Compute (a) total current assets and (b) total property, plant and equipment. (a)...
These financial statement items are for Cullumber Company at year-end, July 31, 2022. Salaries and wages...
These financial statement items are for Cullumber Company at year-end, July 31, 2022. Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue Notes payable (due in 2025) Common stock Cash Accounts receivable Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year) $3,600 59,100 17,100 16,360 4,600 67,700 10,000 3,300 16,000 35,440 11,300 7,100 4,000 4,000 35,000 Prepare an income statement for the year. Cullumber Company did not issue any new...
Cullumber Enterprises Balance Sheet and Income Statement Data December 31, 2020 December 31, 2019 Current Assets:...
Cullumber Enterprises Balance Sheet and Income Statement Data December 31, 2020 December 31, 2019 Current Assets: Cash Accounts Receivable Inventory Total Current Assets $162,180 252,280 414,460 828,920 $126,140 324,360 360,400 810,900 Property, Plant, and Equipment Less: Accumulated Depreciation 1,315,460 (504,560) 810,900 $1,639,820 1,189,320 (468,520) 720,800 $1,531,700 Total Assets Current Liabilities: Accounts Payable Notes Payable Income Taxes Payable Total Current Liabilities $198,220 54,060 90,100 342,380 $108,120 72,080 81,090 261,290 Bonds Payable Total Liabilities 360,400 702,780 414,460 675,750 Stockholders' Equity: Common Stock...
Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase...
Prepare a retained earnings statement for
the year ended December 31, 2022. (List items that
increase retained earnings first.)
Prepare a classified balance sheet as of December 31, 2022.
(List Current Assets in order of
liquidity.)
These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense...
Question 9 View Policies Current Attempt in Progress On June 1, 2022, Cullumber Company was started...
Question 9 View Policies Current Attempt in Progress On June 1, 2022, Cullumber Company was started with an initial investment in the company of $19,750 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2022, and the revenues and expenses for the month of June, its first month of operations: Cash $4,730 Notes payable $12,260 Accounts receivable 4,330 Accounts payable 830 Service revenue 7,900 Supplies expense 955 Supplies 2,387 Maintenance and repairs expense 670...
Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase retained earnings first.) CULLUMBER COMPANY Retained Earnings Statement $ < $ These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages...
These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $32,850 2,180 65,300 17,650 14,980 5,600 22,400 12,000 3,400 5,200 1,800 72,680 6,130 1,600 3,200 13,600 2,600 41,670 22,480 CULLUMBER COMPANY Income Statement For...
Solve for the rest please.
These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $32,850 2,180 65,300 17,650 14,980 5,600 22,400 12,000 3,400 5,200 1,800 72,680 6,130 1,600 3,200 13,600 2,600 41,670 22,480...
CULLUMBER COMPANY Income Statement $ $ $ These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation equipment $32,850 2,180 65,300 17,650 14,980 5,600 22,400 12,000 3,400 5,200 1,800 72,680 6,130 1,600 3,200 13,600...
What's retained earnings.
total stockholders' equity, and total liabilities and stockholders'
equity?
Accounts receivable $3,400 Cash $6.240 Accounts payable 3,700 Supplies 3,780 Interest payable 530 Unearned service revenue 940 Salaries and wages expense 5,400 Service revenue 41,850 Notes payable 32,500 Salaries and wages payable 770 Common stock 55,000 Depreciation expense 740 Inventory 2,810 Equipment (net) 110,600 Using the information above, prepare a balance sheet as of December 31, 2022. (List assets in order of liquidity.) Cullumber Company Balance Sheet December...
Cash $ 3,600 3,400 Accounts receivable Sandhill Co. Balance Sheet December 31, 2022 $ 29,000 Accounts payable 23,100 Salaries and wages payable 10,600 Note payable (due 2025) 1,300 Total liabilities 3,000 25,900 Inventory 166,000 Supplies 173,000 Prepaid insurance Land Buildings Less: Accumulated depreciation 35,000 $248,000 Common stock (105,000) 143,000 Retained earnings 2,100 Total stockholders' equity $238,000 Total liabilities and stockholders' equity 30,000 Trademark Total assets 65,000 $238,000 Compute (a) total current assets and (b) total property, plant and equipment. (a)...
These financial statement items are for Cullumber Company at year-end, July 31, 2022. Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue Notes payable (due in 2025) Common stock Cash Accounts receivable Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year) $3,600 59,100 17,100 16,360 4,600 67,700 10,000 3,300 16,000 35,440 11,300 7,100 4,000 4,000 35,000 Prepare an income statement for the year. Cullumber Company did not issue any new...
Cullumber Enterprises Balance Sheet and Income Statement Data December 31, 2020 December 31, 2019 Current Assets: Cash Accounts Receivable Inventory Total Current Assets $162,180 252,280 414,460 828,920 $126,140 324,360 360,400 810,900 Property, Plant, and Equipment Less: Accumulated Depreciation 1,315,460 (504,560) 810,900 $1,639,820 1,189,320 (468,520) 720,800 $1,531,700 Total Assets Current Liabilities: Accounts Payable Notes Payable Income Taxes Payable Total Current Liabilities $198,220 54,060 90,100 342,380 $108,120 72,080 81,090 261,290 Bonds Payable Total Liabilities 360,400 702,780 414,460 675,750 Stockholders' Equity: Common Stock...
Prepare a retained earnings statement for
the year ended December 31, 2022. (List items that
increase retained earnings first.)
Prepare a classified balance sheet as of December 31, 2022.
(List Current Assets in order of
liquidity.)
These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense...
Question 9 View Policies Current Attempt in Progress On June 1, 2022, Cullumber Company was started with an initial investment in the company of $19,750 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2022, and the revenues and expenses for the month of June, its first month of operations: Cash $4,730 Notes payable $12,260 Accounts receivable 4,330 Accounts payable 830 Service revenue 7,900 Supplies expense 955 Supplies 2,387 Maintenance and repairs expense 670...
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