Homework Answers
| Balance Sheet | |
| December 31 | |
| Assets | |
| Current Asset | |
| Cash | $ 26,000.00 |
| Prepaid Expenses | $ 10,800.00 |
| Supplies | $ 10,200.00 |
| Inventory | $ 55,000.00 |
| Account Receivables | $ 24,000.00 |
| Total Current Assets | $ 1,26,000.00 |
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The CEO of Jisko requests our help in preparing year-end financial reports. The CEO explains that...
Land (used in operations): $114,000 Inventory: $55,000 Accounts Receivable: $24,000 Long-Term Investment in Stocks: $36,000 Intangible...
Land (used in operations): $114,000
Inventory: $55,000
Accounts Receivable: $24,000
Long-Term Investment in Stocks: $36,000
Intangible Assets: $15,000
Cash: $26,000
Notes Receivable (due in 3 years): $26,000
Prepaid Expenses: $10,800
Supplies: $10,200
Trucks: $46,000
Accumulated Depreciation: $12,000
The CEO of Jisko requests our help in preparing year-end financial reports. The CEO explains that they are having difficulty classifying accounts. The Tableau dashboard shows December 31 year-end data from the company's accounting system. Assets Long-Term Investment in Stocks Notes Receivable (due...
Tableau DA 3-4: Quick Study, Classifying balance sheet items LO C3 The CEO of Jisko requests...
Tableau DA 3-4: Quick Study, Classifying balance sheet items LO C3 The CEO of Jisko requests our help in preparing year-end financial reports. The CEO explains that they are having difficulty classifying accounts. The Tableau dashboard shows December 31 year-end data from the company's accounting system. Assets Long-Term Investment in Stocks Notes Receivable (due in 3 years) Land Prepaid Expenses Accounts Receivable Cash Supplies Intangible Assets Inventory Trucks Liabilities & Equity Accounts Payable Wages Payable Interest Payable Notes Payable (due...
IS THIS RIGHT? IF NOT PLEASE HELP ME CORRECT IT ! Exercise 4-16 Preparing a classified...
IS THIS RIGHT? IF NOT PLEASE HELP ME CORRECT IT !
Exercise 4-16 Preparing a classified balance sheet for a merchandiser LO P4 Adams Co. reports the following balance sheet accounts as of December 31. Salaries payable Buildings Prepaid rent Merchandise inventory Accounts payable Prepaid insurance Accounts receivable Common stock 6,200 58,200 7,200 14,400 12,000 3,400 6,000 12,000 Retained earnings Notes payable (due in 9 years) office supplies Land Accumulated depreciation-Building Mortgages payable (due in 5 years) Cash $ 52,000...
Clear Water Co. reports the following balance sheet accounts as of December 31. Buildings Accounts receivable...
Clear Water Co. reports the following balance sheet accounts as of December 31 .Buildings$ 60,000Accounts receivable3,400Land25,000Merchandise inventory9,800Accounts payable6,400Cash10,800Notes payable (due in 7 years)58,000office supplies3,800Common stock24,000Retained earnings20,000Wages payable4,400
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation:...
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash and cash equivalents Accounts receivable (net) Inventory Property, plant, and equipment (net) Accounts payable Salaries payable Paid-in capital $ 5,600 26,000 66,000 150,000 45,000 17,000 130,000 The only asset not listed is short-term investments. The only liabilities not listed are $36,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is...
Required information Exercise 3-16A Prepare financial statements from an adjusted trial balance (LO3-5) The following information...
Required information Exercise 3-16A Prepare financial statements from an adjusted trial balance (LO3-5) The following information applies to the questions displayed below,) The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below Accounts Debit Credit 10,800 138,000 Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense 4,800 24,000 280,000...
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation:...
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash and cash equivalents Nocounts receivable (net) Inventory Property, plant, and equipment (net) Accounts payable Salaries payable Paid-in capital $ 6,300 33,000 73,000 185,000 52,000 24,000 165,000 nces The only asset not listed is short-term investments. The only liabilities not listed are $43,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end...
QS 4-13 Preparing a classified balance sheet for a merchandiser LO P4 Clear Water Co. reports...
QS 4-13 Preparing a classified balance sheet for a merchandiser LO P4 Clear Water Co. reports the following balance sheet accounts as of December 31. ook Ruildings Accounts receivable Land Merchandise inventory Accounts payable Cash Notes payable (due in 7 years) office supplies Common stock Retained earnings Wages payable $ 25,000 2,000 11,000 7.000 5,000 8,000 30,000 1,000 10,000 6.000 3,000 nces Required: Prepare a classified balance sheet. Clear Water Co. Balance Sheet December 31 Assets Current assets Total current...
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation:
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash and cash equivalents$6,300Accounts receivable (net)33,000Inventory73,000Property, plant, and equipment (net)185,000Accounts payable52,000Salaries payable24,000Paid-in capital165,000The only asset not listed is short-term investments. The only liabilities not listed are $43,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.5:1. Required:Determine the following at December 31, 2021:
Russell Engineering provides consulting services related to land development. Below is the year-end adjusted trial balan...
Russell Engineering provides consulting services related to land development. Below is the year-end adjusted trial balance of Russell Engineering. RUSSELL ENGINEERING Adjusted Trial Balance December 31, 2021 Accounts Debits Credits Cash $ 5,500 Accounts Receivable 4,200 Supplies 2,300 Prepaid Rent 6,100 Equipment 114,000 Accumulated Depreciation $ 25,000 Accounts Payable 3,600 Salaries Payable 3,500 Utilities Payable 1,500 Notes Payable (due in 4 years) 20,000 Common Stock 44,800 Retained Earnings 20,200 Service Revenue 118,500 Salaries Expense 45,000 Rent Expense 17,600 Depreciation...
Land (used in operations): $114,000
Inventory: $55,000
Accounts Receivable: $24,000
Long-Term Investment in Stocks: $36,000
Intangible Assets: $15,000
Cash: $26,000
Notes Receivable (due in 3 years): $26,000
Prepaid Expenses: $10,800
Supplies: $10,200
Trucks: $46,000
Accumulated Depreciation: $12,000
The CEO of Jisko requests our help in preparing year-end financial reports. The CEO explains that they are having difficulty classifying accounts. The Tableau dashboard shows December 31 year-end data from the company's accounting system. Assets Long-Term Investment in Stocks Notes Receivable (due...
Tableau DA 3-4: Quick Study, Classifying balance sheet items LO C3 The CEO of Jisko requests our help in preparing year-end financial reports. The CEO explains that they are having difficulty classifying accounts. The Tableau dashboard shows December 31 year-end data from the company's accounting system. Assets Long-Term Investment in Stocks Notes Receivable (due in 3 years) Land Prepaid Expenses Accounts Receivable Cash Supplies Intangible Assets Inventory Trucks Liabilities & Equity Accounts Payable Wages Payable Interest Payable Notes Payable (due...
IS THIS RIGHT? IF NOT PLEASE HELP ME CORRECT IT !
Exercise 4-16 Preparing a classified balance sheet for a merchandiser LO P4 Adams Co. reports the following balance sheet accounts as of December 31. Salaries payable Buildings Prepaid rent Merchandise inventory Accounts payable Prepaid insurance Accounts receivable Common stock 6,200 58,200 7,200 14,400 12,000 3,400 6,000 12,000 Retained earnings Notes payable (due in 9 years) office supplies Land Accumulated depreciation-Building Mortgages payable (due in 5 years) Cash $ 52,000...
Clear Water Co. reports the following balance sheet accounts as of December 31 .Buildings$ 60,000Accounts receivable3,400Land25,000Merchandise inventory9,800Accounts payable6,400Cash10,800Notes payable (due in 7 years)58,000office supplies3,800Common stock24,000Retained earnings20,000Wages payable4,400
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash and cash equivalents Accounts receivable (net) Inventory Property, plant, and equipment (net) Accounts payable Salaries payable Paid-in capital $ 5,600 26,000 66,000 150,000 45,000 17,000 130,000 The only asset not listed is short-term investments. The only liabilities not listed are $36,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is...
Required information Exercise 3-16A Prepare financial statements from an adjusted trial balance (LO3-5) The following information applies to the questions displayed below,) The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below Accounts Debit Credit 10,800 138,000 Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense 4,800 24,000 280,000...
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash and cash equivalents Nocounts receivable (net) Inventory Property, plant, and equipment (net) Accounts payable Salaries payable Paid-in capital $ 6,300 33,000 73,000 185,000 52,000 24,000 165,000 nces The only asset not listed is short-term investments. The only liabilities not listed are $43,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end...
QS 4-13 Preparing a classified balance sheet for a merchandiser LO P4 Clear Water Co. reports the following balance sheet accounts as of December 31. ook Ruildings Accounts receivable Land Merchandise inventory Accounts payable Cash Notes payable (due in 7 years) office supplies Common stock Retained earnings Wages payable $ 25,000 2,000 11,000 7.000 5,000 8,000 30,000 1,000 10,000 6.000 3,000 nces Required: Prepare a classified balance sheet. Clear Water Co. Balance Sheet December 31 Assets Current assets Total current...
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