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Consider the following account balances of Evan McGruder, Inc., as of December 31, Year 3: Accounts...
Required information (The following information applies to the questions displayed below.) Deliberate Speed Corporation (DSC) was...
Required information (The following information applies to the questions displayed below.) Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 28,600 197,000 56,000 230,000 119,000 263,000 6,750 376,850 7,200 During the month of July, the company had the following activities: a. Issued 5,400 shares of common stock for $540,000 cash. b. Borrowed $119,000 cash from...
Consider the following account balances of Evan McGruder, Inc., as of December 31, Year 3. Accounts...
Consider the following account balances of Evan McGruder, Inc., as of December 31, Year 3. Accounts Payable $113,880 Equipment 422,800 Common Stock 226,800 Income Tax Payable 4,020 Retained Earnings 55,900 Notes Payable, due Year 5 344,400 Accounts Receivable ! 203,700 Cash 97,700 Required: Prepare a classified balance sheet at June 30, Year 3. EVAN MCGRUDER, INC. Balance Sheet Balance Sheet
Required information (The following information applies to the questions displayed below.) Deliberate Speed Corporation (DSC) was...
Required information (The following information applies to the questions displayed below.) Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 28,600 197,000 56,000 230,000 119,000 263,000 6,750 376,850 7,200 During the month of July, the company had the following activities: a. Issued 5,400 shares of common stock for $540,000 cash. b. Borrowed $119,000 cash from...
Consider the following account balances of Evan McGruder, Inc., as of December 31, Year 3: Accounts...
Consider the following account balances of Evan McGruder, Inc., as of December 31, Year 3: Accounts Payable $117,568 Equipment 422,000 Common Stock 202,000 Income Tax Payable 3,940 Retained Earnings 55,100 Notes Payable, due Year 5 343,600 Accounts Receivable 2 02,900 Cash 97,300 Required: Prepare a classified balance sheet at June 30. Year 3. EVAN MCGRUDER. INC. Balance Sheet Physio EVAN MCGRUDER, INC. Balance Sheet < Prev 5.5 ili GORA
The following is a list of account balances for Pick-A-Pet, Inc., as of June 30, Year...
The following is a list of account balances for Pick-A-Pet, Inc., as of June 30, Year 3. Accounts Payable Accounts Receivable Cash Common Stock Equipment Logo and Trademarks Long-term Notes Payable Retained Eamings Software $ 369,600 84,000 741,100 687,600 61,800 425,000 270,600 119,600 135,500 The company entered into the following transactions during July, Year 3. Stockholders contribute $470.000 cash for additional ownership shares and the company borrows $235,000 in cash from a bank to buy new equipment by signing a...
Geo Inc. had the following account balances on January 1, Year 2 Accounts Payable Accounts Receivable...
Geo Inc. had the following account balances on January 1, Year 2 Accounts Payable Accounts Receivable Cash Common Stock Equipment Note Payable Retained Earnings Salaries and Wages Expense Supplies $ 713 1,800 1,800 15,000 2,100 3.400 3,911 4,300 1,060 Required Prepare journal entries for each of the following January activities, and post results to the relevant T- accounts. Compute the ending balance of each T-account. Beginning balances have been entered. (If no entry is required for a transactionlevent, select "No...
Geo Inc. had the following account balances on January 1, Year 2. Accounts Payable Accounts Receivable...
Geo Inc. had the following account balances on January 1, Year 2. Accounts Payable Accounts Receivable Cashi Common Stock Equipment Notes Payable Retained Earnings Salaries and Wages Expense Supplies 5728 2,300 2,300 20,000 3,100 4,400 4,536 4.800 1.660 A Paid $728 on account for utilities that were used during December Year 1 B. Purchased $488 of supplies for cash. C. Signed a rental agreement for office space and paid $6,100 in advance for six months of rent beginning February 1,...
Athletic Performance Company (APC) was incorporated as a private company. The company’s accounts included the following...
Athletic Performance Company (APC) was incorporated as a private
company. The company’s accounts included the following at July
1:
Accounts Payable
$
5,950
Buildings
172,000
Cash
14,900
Common Stock
325,000
Equipment
34,500
Land
134,500
Notes Payable (long-term)
33,750
Retained Earnings
0
Supplies
8,800
During the month of July, the company had the following
activities:
Issued 4,000 shares of common stock for $400,000 cash.
Borrowed $54,750 cash from a local bank, payable in two
years.
Bought a building for $176,250; paid...
The following information is provided for JPT Welding, Inc. at December 31, 2020: Account Balances Balance...
The following information is provided for JPT Welding, Inc. at December 31, 2020: Account Balances Balance ($) Accounts Payable 5,700 Accounts Receivable 7,350 Additional Paid-in-Capital 16,680 Cash 45,000 Common Stock ($1 par value) 15,000 Deferred Revenue 3,000 Interest Payable 350 Interest Receivable 450 Investments 10,000 Land 5,000 Long-Term Notes Payable 3,430 Prepaid Expenses 600 Property and Equipment 9,600 Retained Earnings 23,560 Short-Term Notes Payable 1,820 Wages Payable 8,460 JPT entered into the following transactions during January 2020: Sold 1,200 shares...
Merican Laser, Inc.,reported the following account balances on January 1. Accounts Receivable Acc...
merican Laser, Inc.,reported the following account balances on January 1. Accounts Receivable Accumulated Depreciation 5,000 30,000 106,000 2,000 Additional Paid-in Capital Allowance for Doubtful Accounts Bonds Payable Buildings Cash Common Stock, 10,000 shares of $1 par Notes Payable (long-term) 263,000 14,000 10,000 14,000 120,000 Retained Earnings Treasury Stock TOTALS $282,000 $282,0e0 The company entered into the following transactions during the year Jan. 15 Issued 13,000 shares of $1 par common stock for $66,000 cash Jan. 31 Collected $3,000 from customers...
Required information (The following information applies to the questions displayed below.) Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 28,600 197,000 56,000 230,000 119,000 263,000 6,750 376,850 7,200 During the month of July, the company had the following activities: a. Issued 5,400 shares of common stock for $540,000 cash. b. Borrowed $119,000 cash from...
Consider the following account balances of Evan McGruder, Inc., as of December 31, Year 3. Accounts Payable $113,880 Equipment 422,800 Common Stock 226,800 Income Tax Payable 4,020 Retained Earnings 55,900 Notes Payable, due Year 5 344,400 Accounts Receivable ! 203,700 Cash 97,700 Required: Prepare a classified balance sheet at June 30, Year 3. EVAN MCGRUDER, INC. Balance Sheet Balance Sheet
Required information (The following information applies to the questions displayed below.) Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 28,600 197,000 56,000 230,000 119,000 263,000 6,750 376,850 7,200 During the month of July, the company had the following activities: a. Issued 5,400 shares of common stock for $540,000 cash. b. Borrowed $119,000 cash from...
Consider the following account balances of Evan McGruder, Inc., as of December 31, Year 3: Accounts Payable $117,568 Equipment 422,000 Common Stock 202,000 Income Tax Payable 3,940 Retained Earnings 55,100 Notes Payable, due Year 5 343,600 Accounts Receivable 2 02,900 Cash 97,300 Required: Prepare a classified balance sheet at June 30. Year 3. EVAN MCGRUDER. INC. Balance Sheet Physio EVAN MCGRUDER, INC. Balance Sheet < Prev 5.5 ili GORA
The following is a list of account balances for Pick-A-Pet, Inc., as of June 30, Year 3. Accounts Payable Accounts Receivable Cash Common Stock Equipment Logo and Trademarks Long-term Notes Payable Retained Eamings Software $ 369,600 84,000 741,100 687,600 61,800 425,000 270,600 119,600 135,500 The company entered into the following transactions during July, Year 3. Stockholders contribute $470.000 cash for additional ownership shares and the company borrows $235,000 in cash from a bank to buy new equipment by signing a...
Geo Inc. had the following account balances on January 1, Year 2 Accounts Payable Accounts Receivable Cash Common Stock Equipment Note Payable Retained Earnings Salaries and Wages Expense Supplies $ 713 1,800 1,800 15,000 2,100 3.400 3,911 4,300 1,060 Required Prepare journal entries for each of the following January activities, and post results to the relevant T- accounts. Compute the ending balance of each T-account. Beginning balances have been entered. (If no entry is required for a transactionlevent, select "No...
Geo Inc. had the following account balances on January 1, Year 2. Accounts Payable Accounts Receivable Cashi Common Stock Equipment Notes Payable Retained Earnings Salaries and Wages Expense Supplies 5728 2,300 2,300 20,000 3,100 4,400 4,536 4.800 1.660 A Paid $728 on account for utilities that were used during December Year 1 B. Purchased $488 of supplies for cash. C. Signed a rental agreement for office space and paid $6,100 in advance for six months of rent beginning February 1,...
Athletic Performance Company (APC) was incorporated as a private
company. The company’s accounts included the following at July
1:
Accounts Payable
$
5,950
Buildings
172,000
Cash
14,900
Common Stock
325,000
Equipment
34,500
Land
134,500
Notes Payable (long-term)
33,750
Retained Earnings
0
Supplies
8,800
During the month of July, the company had the following
activities:
Issued 4,000 shares of common stock for $400,000 cash.
Borrowed $54,750 cash from a local bank, payable in two
years.
Bought a building for $176,250; paid...
merican Laser, Inc.,reported the following account balances on January 1. Accounts Receivable Accumulated Depreciation 5,000 30,000 106,000 2,000 Additional Paid-in Capital Allowance for Doubtful Accounts Bonds Payable Buildings Cash Common Stock, 10,000 shares of $1 par Notes Payable (long-term) 263,000 14,000 10,000 14,000 120,000 Retained Earnings Treasury Stock TOTALS $282,000 $282,0e0 The company entered into the following transactions during the year Jan. 15 Issued 13,000 shares of $1 par common stock for $66,000 cash Jan. 31 Collected $3,000 from customers...
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