Homework Answers
Partial balance sheet
| Current asset | ||
| Cash | $102100 | |
| (-) restricted cash for plant expansion | ($58300) | $43800 |
| Trading securities at fair value (cost $39500) | $29730 | |
| Accounts receivable ( $54800 pledge as collateral on bank loan) | $161020 | |
| (-) allowance for doubtful debts | ($11290) | $149730 |
| Interest receivable ($41000×6%×8/12) | $1640 | |
|
Inventory at lower of cost or market value (Using lLIFO) |
||
| Finished goods | $53500 | |
| Working progress | $36000 | |
| Raw material | $182280 | $271780 |
| Total current assets | $496680 |
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Presented below are selected accounts of Wildhorse Company at December 31, 2020. Inventory (finished goods) Unearned...
Presented below are selected accounts of Skysong Company at December 31, 2020. Inventory (finished goods) Unearned...
Presented below are selected accounts of Skysong Company at December 31, 2020. Inventory (finished goods) Unearned Service Revenue Equipment Inventory (work in process) Cash Debt Investments (trading) Customer Advances Restricted Cash for Plant Expansion $ 60,500 Cost of Goods Sold 92,200 Notes Receivable 261,300 Accounts Receivable 34,200 Inventory (raw materials) 40,700 Supplies Expense 39,700 Allowance for Doubtful Accounts 38,100 Licenses 53,200 Additional Paid-in Capital Treasury Stock $2,120,400 40,400 152,420 193,420 55,100 11,520 17,680 85,150 22,270 The following additional information is...
Presented below are selected accounts of Waterway Company at December 31, 2020. Inventory (finished goods) $...
Presented below are selected accounts of Waterway Company at December 31, 2020. Inventory (finished goods) $ 60,000 Cost of Goods Sold $2,144,900 Unearned Service Revenue 98,600 Notes Receivable 42,800 Equipment 259,900 Accounts Receivable 148,990 Inventory (work in process) 35,700 Inventory (raw materials) 176,340 Cash 41,700 Supplies Expense 59,790 Debt Investments (trading) 31,500 Allowance for Doubtful Accounts 11,800 Customer Advances 51,100 Licenses 16,500 Restricted Cash for Plant Expansion 54,000 Additional Paid-in Capital 85,240 Treasury Stock 23,460 The following additional information is...
Prepare the current assets section of Larkspur Company's December 31, 2020, balance sheet, with appropriate disclosures....
Prepare the current assets section of Larkspur Company's December
31, 2020, balance sheet, with appropriate disclosures.
Current Attempt in Progress Presented below are selected accounts of Larkspur Company at December 31, 2020. Inventory (finished goods) Unearned Service Revenue Equipment Inventory (work in process) Cash Debt Investments (trading) Customer Advances Restricted Cash for Plant Expansion $ 53,500 95,200 257,100 36,000 43,800 39,500 53,200 58,300 Cost of Goods Sold Notes Receivable Accounts Receivable Inventory (raw materials) Supplies Expense Allowance for Doubtful Accounts...
Presented below are selected accounts of Yasunari Kawabata Company at December 31, 2020. $ Inventory (finished...
Presented below are selected accounts of Yasunari Kawabata Company at December 31, 2020. $ Inventory (finished goods) Unearned Service Revenue Equipment Inventory (work in process) Cash Debt Investments (short-term) Customer Advances Restricted Cash for Plant Expansion $ $ $ $ $ $ $ $ 52,000 90,000 253,000 34,000 37,000 31,000 36,000 50,000 Cost of Goods Sold Notes Receivable Accounts Receivable Inventory (raw materials) Supplies Expense Allow. for Doubtful Accounts Licenses Additional Paid-in Capital Treasury Stock 2,100,000 40,000 161,000 207,000 60,000...
Exercise 5-7 Presented below are selected accounts of Teal Company at December 31, 2020. Inventory (finished...
Exercise 5-7 Presented below are selected accounts of Teal Company at December 31, 2020. Inventory (finished goods) $ 60,100 Cost of Goods Sold $2,155,700 Unearned Service Revenue 90,800 Notes Receivable 39,600 Equipment 257,600 Accounts Receivable 161,840 Inventory (work in process) 34,600 Inventory (raw materials) 185,820 Cash 42,200 Supplies Expense 64,880 Debt Investments (trading) 37,000 Allowance for Doubtful Accounts 12,220 Customer Advances 52,700 Licenses 19,080 Restricted Cash for Plant Expansion 56,100 Additional Paid-in Capital 92,790 Treasury Stock 22,870 The following additional...
Presented below are selected accounts of Pina Company at December 31, 2020. Cost of Goods Sold...
Presented below are selected accounts of Pina Company at December 31, 2020. Cost of Goods Sold $ 57,100 99,000 259,100 41,700 Inventory (finished goods) Unearned Service Revenue Equipment Inventory (work in process) Cash Debt Investments (trading) Customer Advances Restricted Cash for Plant Expansion $2,105,600 37,200 164,180 195,590 64,430 11,240 17,770 Notes Receivable Accounts Receivable Inventory (raw materials) Supplies Expense Allowance for Doubtful Accounts Licenses Additional Paid-in Capital Treasury Stock 42,600 32,700 42,900 50,800 86,610 23,020 The following additional information is...
View Policies Current Attempt in Progress Presented below are selected accounts of Pearl Company at December...
View Policies Current Attempt in Progress Presented below are selected accounts of Pearl Company at December 31, 2020. Inventory (finished goods) Unearned Service Revenue Equipment Inventory (work in process) Cash Debt Investments (trading) Customer Advances Restricted Cash for Plant Expansion $ 59,000 94,300 258,100 42,700 43,400 36,900 45,400 55,600 Cost of Goods Sold Notes Receivable Accounts Receivable Inventory (raw materials) Supplies Expense Allowance for Doubtful Accounts Licenses Additional Paid-in Capital Treasury Stock $2,150,000 43,600 156,450 199,390 62,150 12,250 19.190 94,870...
Selected accounts follow of Flounder Limited at December 31, 2017: Finished Goods Inventory $154,000 Cost of...
Selected accounts follow of Flounder Limited at December 31, 2017: Finished Goods Inventory $154,000 Cost of Goods Sold $3,900,000 Unearned Revenue 106,000 Notes Receivable 43,000 Bank Overdraft 9,400 Accounts Receivable 191,000 Equipment 353,000 Raw Materials Inventory 347,000 Work-in-Process Inventory 39,000 Supplies Expense 67,000 Cash 58,000 Allowance for Doubtful Accounts 25,000 FV-NI Investments 32,000 Intangible Assets—Trade Names 38,000 Interest Payable 45,000 Contributed Surplus 18,000 Restricted Cash (for Plant Expansion) 58,000 Common Shares 286,000 The following additional information is available: 1. Inventory...
Photo doesn't come through very well. Presented below are selected accounts of Tamarisk Company at December...
Photo doesn't come through very well.
Presented below are selected accounts of Tamarisk Company at
December 31, 2020.
Inventory (finished goods)
$ 56,300
Cost of Goods Sold
$2,134,500
Unearned Service Revenue
99,900
Notes Receivable
41,000
Equipment
258,800
Accounts Receivable
171,010
Inventory (work in process)
39,400
Inventory (raw materials)
186,240
Cash
46,300
Supplies Expense
59,680
Debt Investments (trading)
38,100
Allowance for Doubtful Accounts
13,110
Customer Advances
37,900
Licenses
19,680
Restricted Cash for Plant Expansion
59,200
Additional Paid-in Capital
87,790
Treasury Stock...
< Question 8 of 10 Selected accounts follow of Blue Spruce Limited at December 31, 2020:...
< Question 8 of 10 Selected accounts follow of Blue Spruce Limited at December 31, 2020: Finished Goods Inventory Unearned Revenue Bank Overdraft Equipment Work-in-Process Inventory Cash FV-NI Investments Interest Payable Restricted Cash (for Plant Expansion) $157,000 92,000 9,800 403,000 44,000 60,000 36,000 49,000 60,000 Cost of Goods Sold Notes Receivable Accounts Receivable Raw Materials Inventory Supplies Expense Allowance for Doubtful Accounts Intangible Assets-Trade Names Contributed Surplus Common Shares $3,800,000 48,000 251,000 367,000 61,000 31,000 22,000 18,000 306,000 The following...
Presented below are selected accounts of Skysong Company at December 31, 2020. Inventory (finished goods) Unearned Service Revenue Equipment Inventory (work in process) Cash Debt Investments (trading) Customer Advances Restricted Cash for Plant Expansion $ 60,500 Cost of Goods Sold 92,200 Notes Receivable 261,300 Accounts Receivable 34,200 Inventory (raw materials) 40,700 Supplies Expense 39,700 Allowance for Doubtful Accounts 38,100 Licenses 53,200 Additional Paid-in Capital Treasury Stock $2,120,400 40,400 152,420 193,420 55,100 11,520 17,680 85,150 22,270 The following additional information is...
Prepare the current assets section of Larkspur Company's December
31, 2020, balance sheet, with appropriate disclosures.
Current Attempt in Progress Presented below are selected accounts of Larkspur Company at December 31, 2020. Inventory (finished goods) Unearned Service Revenue Equipment Inventory (work in process) Cash Debt Investments (trading) Customer Advances Restricted Cash for Plant Expansion $ 53,500 95,200 257,100 36,000 43,800 39,500 53,200 58,300 Cost of Goods Sold Notes Receivable Accounts Receivable Inventory (raw materials) Supplies Expense Allowance for Doubtful Accounts...
Presented below are selected accounts of Yasunari Kawabata Company at December 31, 2020. $ Inventory (finished goods) Unearned Service Revenue Equipment Inventory (work in process) Cash Debt Investments (short-term) Customer Advances Restricted Cash for Plant Expansion $ $ $ $ $ $ $ $ 52,000 90,000 253,000 34,000 37,000 31,000 36,000 50,000 Cost of Goods Sold Notes Receivable Accounts Receivable Inventory (raw materials) Supplies Expense Allow. for Doubtful Accounts Licenses Additional Paid-in Capital Treasury Stock 2,100,000 40,000 161,000 207,000 60,000...
Exercise 5-7 Presented below are selected accounts of Teal Company at December 31, 2020. Inventory (finished goods) $ 60,100 Cost of Goods Sold $2,155,700 Unearned Service Revenue 90,800 Notes Receivable 39,600 Equipment 257,600 Accounts Receivable 161,840 Inventory (work in process) 34,600 Inventory (raw materials) 185,820 Cash 42,200 Supplies Expense 64,880 Debt Investments (trading) 37,000 Allowance for Doubtful Accounts 12,220 Customer Advances 52,700 Licenses 19,080 Restricted Cash for Plant Expansion 56,100 Additional Paid-in Capital 92,790 Treasury Stock 22,870 The following additional...
Presented below are selected accounts of Pina Company at December 31, 2020. Cost of Goods Sold $ 57,100 99,000 259,100 41,700 Inventory (finished goods) Unearned Service Revenue Equipment Inventory (work in process) Cash Debt Investments (trading) Customer Advances Restricted Cash for Plant Expansion $2,105,600 37,200 164,180 195,590 64,430 11,240 17,770 Notes Receivable Accounts Receivable Inventory (raw materials) Supplies Expense Allowance for Doubtful Accounts Licenses Additional Paid-in Capital Treasury Stock 42,600 32,700 42,900 50,800 86,610 23,020 The following additional information is...
View Policies Current Attempt in Progress Presented below are selected accounts of Pearl Company at December 31, 2020. Inventory (finished goods) Unearned Service Revenue Equipment Inventory (work in process) Cash Debt Investments (trading) Customer Advances Restricted Cash for Plant Expansion $ 59,000 94,300 258,100 42,700 43,400 36,900 45,400 55,600 Cost of Goods Sold Notes Receivable Accounts Receivable Inventory (raw materials) Supplies Expense Allowance for Doubtful Accounts Licenses Additional Paid-in Capital Treasury Stock $2,150,000 43,600 156,450 199,390 62,150 12,250 19.190 94,870...
Photo doesn't come through very well.
Presented below are selected accounts of Tamarisk Company at
December 31, 2020.
Inventory (finished goods)
$ 56,300
Cost of Goods Sold
$2,134,500
Unearned Service Revenue
99,900
Notes Receivable
41,000
Equipment
258,800
Accounts Receivable
171,010
Inventory (work in process)
39,400
Inventory (raw materials)
186,240
Cash
46,300
Supplies Expense
59,680
Debt Investments (trading)
38,100
Allowance for Doubtful Accounts
13,110
Customer Advances
37,900
Licenses
19,680
Restricted Cash for Plant Expansion
59,200
Additional Paid-in Capital
87,790
Treasury Stock...
< Question 8 of 10 Selected accounts follow of Blue Spruce Limited at December 31, 2020: Finished Goods Inventory Unearned Revenue Bank Overdraft Equipment Work-in-Process Inventory Cash FV-NI Investments Interest Payable Restricted Cash (for Plant Expansion) $157,000 92,000 9,800 403,000 44,000 60,000 36,000 49,000 60,000 Cost of Goods Sold Notes Receivable Accounts Receivable Raw Materials Inventory Supplies Expense Allowance for Doubtful Accounts Intangible Assets-Trade Names Contributed Surplus Common Shares $3,800,000 48,000 251,000 367,000 61,000 31,000 22,000 18,000 306,000 The following...
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