Homework Answers
Answer = no-par common stock
Note:
1. deferred lease revenue is classified as a liability.
2. retained earnings is classified as stockholder's equity
3. no par common stock is recorded under the paid in capital account.
4. accumulated depreciation is a contra account that sets off in asset account.
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Please I need help. Thanks.
Which of the following accounts should be classified as a paid-in-capital...
Create a classified balance sheet Problem 2 The following is a list of accounts in alphabetical...
Create a classified balance sheet
Problem 2 The following is a list of accounts in alphabetical order from the general ledger of Tara Corporation: Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation Equipment Allowance for Doubtful Accounts Bond Sinking Fund Bonds Payable, due in 2025 Building Cash Common Stock $1 par value Copyright Current Portion of Long-term Debt Deferred Rent Revenue Dividends Payable Equipment Goodwill Income Taxes Payable Inventory Land Land Held for a Future Plant Site Notes Payable, due...
I only need help with the transaction on January 29, thanks. On January 1, 2021, the...
I only need help with the transaction on January 29, thanks.
On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances: Credit Debit $ 43,100 45,300 7,900 68,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid-in Capital Retained Earnings Totals $ 9,400 15,000 14,000 84,000 41,900 $164,300 $164,300 During January 2021, the following transactions occur: January 2 Issue an additional 2,100 shares of $1 par...
Fechter Corporation had the following stockholders' equity accounts on January 1, 2015: Common Stock ($4 par) $421,200, Paid-in Capital in Excess of Par-Common Stock $177,810, and Retained Earnin...
Fechter Corporation had the following stockholders' equity accounts on January 1, 2015: Common Stock ($4 par) $421,200, Paid-in Capital in Excess of Par-Common Stock $177,810, and Retained Earnings $105,810. In 2015, the company had the following treasury stock transactions Mar. 1 Purchased 6,690 shares at $8 per share. June 1 Sold 1,240 shares at $12 per share. Sept.1 Sold 1,870 shares at $10 per share Dec. 1 Sold 1,060 shares at $6 per share Fechter Corporation uses the cost method...
TEN- Following is a list of balance sheet accounts. Part One contains asset accounts and Part...
TEN- Following is a list of balance sheet accounts. Part One contains asset accounts and Part Two contains liabilities and stockholdersequity accounts. (20 points) PART ONE: Following is a list of ten (10) balance sheet accounts. Use the numerals 1 through 10 to indicate the order in which these accounts should appear on a classified balance sheet. ( ) ( ) () ( ) ( ) ( ) ( ) () Accounts receivable Accumulated depreciation - building Allowance for doubtful...
i need to create the worksheet 3. The following accounts at 12/31/2020 are listed in alphabetical...
i
need to create the worksheet
3. The following accounts at 12/31/2020 are listed in alphabetical order. Create a worksheet. Record the adjusting entries (info below) on the worksheet and complete the worksheet. Prepare a multiple step income statement, Statement of Retained Earnings and a Classified Balance Sheet for 2020. Debit Credit 6,400 5,700 19,000 11,000 15,000 6,500 600 42,000 4,000 5,000 27,400 4,035 Account Payable Accounts Receivable Accumulated Depreciation - Building Accumulated Depreciation Equipment Additional Pald in Capital Administrative...
I need help with 34-39 Use the following to answer questions 34 - 36 The year-end...
I need help with 34-39
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings Service revenue Salaries expense Rent expense Interest expense Dividends $300,000 450,000 250,000 20,000 5,000 75,000 Prepare the closing entries. 34. $_ In preparing the closing entries for the temporary accounts, how much should Retained earnings be credited? 35. $ In preparing the closing entries for the temporary accounts, how much should...
The following is the ending balances of accounts at December 31, 2021, for the Weismuller Publishing...
The following is the ending balances of accounts at December 31, 2021, for the Weismuller Publishing Company. Account Title Debits Credits Cash $ 95,000 Accounts receivable 190,000 Inventory 300,000 Prepaid expenses 178,000 Equipment 350,000 Accumulated depreciation $ 125,000 Investments 170,000 Accounts payable 75,000 Interest payable 35,000 Deferred revenue 95,000 Income taxes payable 45,000 Notes payable 275,000 Allowance for uncollectible accounts 31,000 Common stock 415,000 Retained earnings 187,000 Totals $ 1,283,000 $ 1,283,000 Additional information: Prepaid expenses include $150,000 paid on...
Hello, I need help with the boxes in red please: Carla Vista Corporation's trial balance at...
Hello, I need help with the boxes in red please:
Carla Vista Corporation's trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the items described below. Debit Credit Cash Accounts Receivable Inventory Land Buildings Equipment Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment $27,300 59,000 23,100 62,800 104,400 43,000 Accounts Payable Interest Payable Dividends Payable Unearned Rent Revenue Bonds Payable (10%) Common Stock ($10 par) Paid-in Capital in Excess of Par-Common Stock...
I will thumbs up your answer! Thanks Prepare a classified balance sheet. Assume that $13,328 of...
I will thumbs up your answer! Thanks
Prepare a classified balance sheet. Assume that $13,328 of the
note payable will be paid in 2023. (List Current Assets
in order of liquidity and Property, Plant and Equipment in order of
Land, Buildings and Equipment.)
Exercise 2-05 These items are taken from the financial statements of Sandhill Co. at December 31, 2022. Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1,...
ok, need a lot of help please The stockholders' equity accounts of Novak Corp. on January...
ok, need a lot of help please
The stockholders' equity accounts of Novak Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 12,500 shares authorized) Common Stock $4 stated value, 750,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (12,500 common shares) $750,000 2,500,000 37,500 1,200,000 1,720,000 100,000 During 2022, the corporation had the following transactions and events pertaining to its...
Create a classified balance sheet
Problem 2 The following is a list of accounts in alphabetical order from the general ledger of Tara Corporation: Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation Equipment Allowance for Doubtful Accounts Bond Sinking Fund Bonds Payable, due in 2025 Building Cash Common Stock $1 par value Copyright Current Portion of Long-term Debt Deferred Rent Revenue Dividends Payable Equipment Goodwill Income Taxes Payable Inventory Land Land Held for a Future Plant Site Notes Payable, due...
I only need help with the transaction on January 29, thanks.
On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances: Credit Debit $ 43,100 45,300 7,900 68,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid-in Capital Retained Earnings Totals $ 9,400 15,000 14,000 84,000 41,900 $164,300 $164,300 During January 2021, the following transactions occur: January 2 Issue an additional 2,100 shares of $1 par...
Fechter Corporation had the following stockholders' equity accounts on January 1, 2015: Common Stock ($4 par) $421,200, Paid-in Capital in Excess of Par-Common Stock $177,810, and Retained Earnings $105,810. In 2015, the company had the following treasury stock transactions Mar. 1 Purchased 6,690 shares at $8 per share. June 1 Sold 1,240 shares at $12 per share. Sept.1 Sold 1,870 shares at $10 per share Dec. 1 Sold 1,060 shares at $6 per share Fechter Corporation uses the cost method...
TEN- Following is a list of balance sheet accounts. Part One contains asset accounts and Part Two contains liabilities and stockholdersequity accounts. (20 points) PART ONE: Following is a list of ten (10) balance sheet accounts. Use the numerals 1 through 10 to indicate the order in which these accounts should appear on a classified balance sheet. ( ) ( ) () ( ) ( ) ( ) ( ) () Accounts receivable Accumulated depreciation - building Allowance for doubtful...
i
need to create the worksheet
3. The following accounts at 12/31/2020 are listed in alphabetical order. Create a worksheet. Record the adjusting entries (info below) on the worksheet and complete the worksheet. Prepare a multiple step income statement, Statement of Retained Earnings and a Classified Balance Sheet for 2020. Debit Credit 6,400 5,700 19,000 11,000 15,000 6,500 600 42,000 4,000 5,000 27,400 4,035 Account Payable Accounts Receivable Accumulated Depreciation - Building Accumulated Depreciation Equipment Additional Pald in Capital Administrative...
I need help with 34-39
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings Service revenue Salaries expense Rent expense Interest expense Dividends $300,000 450,000 250,000 20,000 5,000 75,000 Prepare the closing entries. 34. $_ In preparing the closing entries for the temporary accounts, how much should Retained earnings be credited? 35. $ In preparing the closing entries for the temporary accounts, how much should...
Hello, I need help with the boxes in red please:
Carla Vista Corporation's trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the items described below. Debit Credit Cash Accounts Receivable Inventory Land Buildings Equipment Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment $27,300 59,000 23,100 62,800 104,400 43,000 Accounts Payable Interest Payable Dividends Payable Unearned Rent Revenue Bonds Payable (10%) Common Stock ($10 par) Paid-in Capital in Excess of Par-Common Stock...
I will thumbs up your answer! Thanks
Prepare a classified balance sheet. Assume that $13,328 of the
note payable will be paid in 2023. (List Current Assets
in order of liquidity and Property, Plant and Equipment in order of
Land, Buildings and Equipment.)
Exercise 2-05 These items are taken from the financial statements of Sandhill Co. at December 31, 2022. Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1,...
ok, need a lot of help please
The stockholders' equity accounts of Novak Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 12,500 shares authorized) Common Stock $4 stated value, 750,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (12,500 common shares) $750,000 2,500,000 37,500 1,200,000 1,720,000 100,000 During 2022, the corporation had the following transactions and events pertaining to its...
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