Homework Answers
Working capital = Current assets - Current liabilities
Current assets = Cash + account receivable + Inventory + Prepaid insurance + Short term investment - allowance for doubtful account
= 16000 + 65000 + 90000 + 1200 + 28000 - 7500
= 192700
Current liabilities = Account payable + Salaries payable + Interest payable + Income tax payable
= 45000 + 5000 + 1500 + 9000
= 60500
Working capital = Current asset - Current liabilities
= 192700 - 60500 = 132200
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Preparing a Classified Balance Sheet The following balances are from the post-closing trial balance of Armour...
Preparing a Classified Balance Sheet The following balances are from the post-closing trial balance of Armour...
Preparing a Classified Balance Sheet The following balances are from the post-closing trial balance of Armour Inc. Cash. $9,600 debit Acc. rec. 39,000. debit Allowance for doubtful acc. 4,500. credit inventory 54,000 debit prepaid insurance 720 debit short term investments 16,800 debit equipment 60,000 debit accumulated depreciation - equipment 12,000 credit accumulated depreciation- buildings 4,500 credit Goodwill 18,180 debit accounts payable 27,000 credit salaries payable 3,000 credit interest payable 900 credit income tax payable 5,400 credit notes payable 8%, 5...
Preparation of Balance Sheet Ari Company's December 31 post-closing trial balance contains the following normal balances:...
Preparation of Balance Sheet Ari Company's December 31 post-closing trial balance contains the following normal balances: Cash $19,000 Accounts payable 20,000 Building 439,500 Long-term notes payable 785,000 Common stock 950,000 Retained earnings 75,000 Accumulated depreciation-Equipment 180,000 Land 877,000 Accounts receivable 22,500 Accumulated depreciation-Building 135,000 Wages payable 6,000 Patent (net of amortization) 120,000 Notes payable (short term) 131,000 Inventory 206,000 Equipment 600,000 Allowance for doubtful accounts 2,000 Required Prepare a December 31 classified balance sheet for Ari Company Do not use...
please help fill out this sheet Preparation of Balance Sheet Ari Company's December 31 post-closing trial balance contai...
please help fill out this sheet
Preparation of Balance Sheet Ari Company's December 31 post-closing trial balance contains the following normal balances: Cash $19,000 Accounts payable 20,000 Building 439,500 Long-term notes payable 785,000 Common stock 950,000 Retained earnings 75,000 Accumulated depreciation-Equipment 180,000 Land 877,000 Accounts receivable 22,500 Accumulated depreciation-Building 135,000 Wages payable 6,000 Patent (net of amortization) 120,000 Notes payable (short term) 131,000 Inventory 206,000 Equipment 600,000 Allowance for doubtful accounts 2,000 DUSITISSUUUISE Balance Sheet December 31 Assets Current Assets:...
Preparation of Balance Sheet Ari Company's December 31 post.closing trial balance contains the following normal balances:...
Preparation of Balance Sheet Ari Company's December 31 post.closing trial balance contains the following normal balances: Cash $19,000 Accounts payable 20,000 Building 439,500 Long-term notes payable 785,000 Common stock 950,000 Retained earnings 75,000 Accumulated depreciation-Equipment 180,000 Land 877,000 Accounts receivable 22,500 Accumulated depreciation- Wages payable 6,000 Patent (net of amortization) Notes payable (short term) Inventory Equipment Allowance for doubtful accounts 2,000 con-- Building 135,000 Required Prepare a December 31 classified balance sheet Do not use negative signs with any of...
Preparation of Balance Sheet Ari Company's December 31 post-closing trial balance contains the following normal balances:...
Preparation of Balance Sheet Ari Company's December 31 post-closing trial balance contains the following normal balances: Cash $19,000 Accounts payable 20,000 Building 439,500 Long-term notes payable 785,000 Common stock 950,000 Retained earnings 75,000 Accumulated depreciation Equipment 180,000 Land 877,000 Accounts receivable 22,500 Accumulated depreciation-Building 135,000 Wages payable 6,000 Patent (net of amortization) 120,000 Notes payable (short term) 131,000 Inventory 206,000 Equipment 600,000 Allowance for doubtful accounts 2,000 Required Prepare a December 31 classified balance sheet for Ari Company.
Preparing a Classified Balance Sheet Prepare a classified balance sheet given the following account balances on...
Preparing a Classified Balance Sheet Prepare a classified balance sheet given the following account balances on December 31, 2020. Next, compute working capital on that same date. Note: Other than cash, list items in each balance sheet category in the order of the largest dollar amount to the smallest dollar amount. cash 1,000 accounts receivable 30,000 inventory 1,250 franchise 17,500 prepaid insurance 600 common stock (no par, 10,000 shares issued and outstanding) 25,000 accounts payable 31,000 notes payable (long-term) 35,000...
Prepare a classified balance sheet for Oxmoor at December 31, 2019. Preparing a Balance Sheet Oxmoor...
Prepare a classified balance sheet for Oxmoor at December 31,
2019.
Preparing a Balance Sheet Oxmoor Corporation prepared the following adjusted trial balance. Oxmoor Corporation Adjusted Trial Balance December 31, 2019 Debit Credit Account Cash $13,300 Accounts Receivable 6,700 Prepaid Rent 54,000 Inventory 481,400 Long-Term Investment 110,900 Equipment 88,000 Accumulated Depreciation $23,700 Accounts Payable 111,700 Interest Payable 4,400 Note Payable (short-term) 50,000 Bonds Payable 180,000 Common Stock 300,000 Retained Earnings, 1/1/2019 45,635 Dividends 50,000 Sales Revenue 583,900 Cost of Goods...
Inventories Investment in real estate (long-term) 10.000 16,000 61.200 Prepare a classified Balance Sheet Accounts payable...
Inventories Investment in real estate (long-term) 10.000 16,000 61.200 Prepare a classified Balance Sheet Accounts payable 19.500 Accounts receivable Accumulated depreciation 1,500 Bonds payable 62,000 Building 95,800 16.800 Common stock 82,400 Interest payable 3,600 Mortgage payable Patents Prepaid insurance Retained earnings (ending) Short-term notes payable Supplies 4,500 40.000 20,500 7.000 Veronika's Flower Shop Balance Sheet December 31, 2020 Assets: Current Assets: Total Current Assets Long-term Investments WHATHIRT Property Plant and Equipment Less: Accumulated depreciation Property, plant, Equipment, net Intangible Assets:...
Exercise 5-12 Presented below is the trial balance of Nash Corporation at December 31, 2020. Debit...
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Suppose the following items are taken from the 2022 balance sheet of Yahoo! Inc. (All dollars...
Suppose the following items are taken from the 2022 balance sheet of Yahoo! Inc. (All dollars are in millions.) Goodwill Common stock Equipment Accounts payable Patents Stock investments (long-term) Accounts receivable Prepaid rent Debt investments (short-term) Retained earnings Cash Notes payable (long-term) Unearned sales revenue Accumulated depreciation-equipment $4,170 6,480 2,490 100 230 3,050 1,180 210 1,110 6,580 2,110 740 420 230 Prepare a classified balance sheet for Yahoo! Inc. as of December 31, 2022. (List Current Assets in order of...
Preparation of Balance Sheet Ari Company's December 31 post-closing trial balance contains the following normal balances: Cash $19,000 Accounts payable 20,000 Building 439,500 Long-term notes payable 785,000 Common stock 950,000 Retained earnings 75,000 Accumulated depreciation-Equipment 180,000 Land 877,000 Accounts receivable 22,500 Accumulated depreciation-Building 135,000 Wages payable 6,000 Patent (net of amortization) 120,000 Notes payable (short term) 131,000 Inventory 206,000 Equipment 600,000 Allowance for doubtful accounts 2,000 Required Prepare a December 31 classified balance sheet for Ari Company Do not use...
please help fill out this sheet
Preparation of Balance Sheet Ari Company's December 31 post-closing trial balance contains the following normal balances: Cash $19,000 Accounts payable 20,000 Building 439,500 Long-term notes payable 785,000 Common stock 950,000 Retained earnings 75,000 Accumulated depreciation-Equipment 180,000 Land 877,000 Accounts receivable 22,500 Accumulated depreciation-Building 135,000 Wages payable 6,000 Patent (net of amortization) 120,000 Notes payable (short term) 131,000 Inventory 206,000 Equipment 600,000 Allowance for doubtful accounts 2,000 DUSITISSUUUISE Balance Sheet December 31 Assets Current Assets:...
Preparation of Balance Sheet Ari Company's December 31 post.closing trial balance contains the following normal balances: Cash $19,000 Accounts payable 20,000 Building 439,500 Long-term notes payable 785,000 Common stock 950,000 Retained earnings 75,000 Accumulated depreciation-Equipment 180,000 Land 877,000 Accounts receivable 22,500 Accumulated depreciation- Wages payable 6,000 Patent (net of amortization) Notes payable (short term) Inventory Equipment Allowance for doubtful accounts 2,000 con-- Building 135,000 Required Prepare a December 31 classified balance sheet Do not use negative signs with any of...
Preparation of Balance Sheet Ari Company's December 31 post-closing trial balance contains the following normal balances: Cash $19,000 Accounts payable 20,000 Building 439,500 Long-term notes payable 785,000 Common stock 950,000 Retained earnings 75,000 Accumulated depreciation Equipment 180,000 Land 877,000 Accounts receivable 22,500 Accumulated depreciation-Building 135,000 Wages payable 6,000 Patent (net of amortization) 120,000 Notes payable (short term) 131,000 Inventory 206,000 Equipment 600,000 Allowance for doubtful accounts 2,000 Required Prepare a December 31 classified balance sheet for Ari Company.
Prepare a classified balance sheet for Oxmoor at December 31,
2019.
Preparing a Balance Sheet Oxmoor Corporation prepared the following adjusted trial balance. Oxmoor Corporation Adjusted Trial Balance December 31, 2019 Debit Credit Account Cash $13,300 Accounts Receivable 6,700 Prepaid Rent 54,000 Inventory 481,400 Long-Term Investment 110,900 Equipment 88,000 Accumulated Depreciation $23,700 Accounts Payable 111,700 Interest Payable 4,400 Note Payable (short-term) 50,000 Bonds Payable 180,000 Common Stock 300,000 Retained Earnings, 1/1/2019 45,635 Dividends 50,000 Sales Revenue 583,900 Cost of Goods...
Inventories Investment in real estate (long-term) 10.000 16,000 61.200 Prepare a classified Balance Sheet Accounts payable 19.500 Accounts receivable Accumulated depreciation 1,500 Bonds payable 62,000 Building 95,800 16.800 Common stock 82,400 Interest payable 3,600 Mortgage payable Patents Prepaid insurance Retained earnings (ending) Short-term notes payable Supplies 4,500 40.000 20,500 7.000 Veronika's Flower Shop Balance Sheet December 31, 2020 Assets: Current Assets: Total Current Assets Long-term Investments WHATHIRT Property Plant and Equipment Less: Accumulated depreciation Property, plant, Equipment, net Intangible Assets:...
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Suppose the following items are taken from the 2022 balance sheet of Yahoo! Inc. (All dollars are in millions.) Goodwill Common stock Equipment Accounts payable Patents Stock investments (long-term) Accounts receivable Prepaid rent Debt investments (short-term) Retained earnings Cash Notes payable (long-term) Unearned sales revenue Accumulated depreciation-equipment $4,170 6,480 2,490 100 230 3,050 1,180 210 1,110 6,580 2,110 740 420 230 Prepare a classified balance sheet for Yahoo! Inc. as of December 31, 2022. (List Current Assets in order of...
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