Homework Answers
Answer :-
| SKYSONG COMPANY | ||
| Balance Sheet (Partial) | ||
| For the Year Ended Deember 31, 2020 | ||
| Particulars | Amount | Amount |
| Current Assets : | ||
| Cash | $94,400 | |
| Less : Cash restricted for plant expansion | $51,900 | $42,500 |
| (Short term Investments) | $ 28,950 | |
| Accounts receivable (Pledged as collateral ) | $ 161,260 | |
| Less: Allowance for Doubtful Accounts | $ -11,260 | $ 150,000 |
| Interest Receivable | ||
| ($38,600 x 6% x 8/12] | $ 1,544 | |
| Inventories at lower of cost ( using LIFO or market value ) | ||
| Inventory (Finished Goods) | $ 58,900 | |
| Inventory (Work in process) | $ 43,200 | |
| Inventory (Raw Materials) | $ 187,700 | $ 289,800 |
| Total Current Assets | $ 512,794 |
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CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 5-7 Presented below are selected...
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...
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 Waterway Company at December 31, 2020. Inventory (finished goods) $...
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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 Wildhorse 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 Cost of Goods Sold 95,200 Notes Receivable 257,100 Accounts Receivable 36,000 Inventory (raw materials) 43,800 Supplies Expense 39,500 Allowance for Doubtful Accounts Licenses 58,300 Additional Paid-in Capital Treasury Stock $2,192,400 41,000 161,020 182,280 65,490 11,290 16,890 88,040 22,320 53,200 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...
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...
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...
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What am i missing? nt CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK Exercise 2-3...
What am i missing?
nt CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK Exercise 2-3 Suppose the following items were taken from the December 31, 2017, assets section of the Vaughn Manufacturing balanc sheet. (All dollars are in millions.) Inventory Notes receivable-due after December 31, 2018 Notes receivable-due before December 31, 2018 Accumulated depreciation-buildings $16,010 Patents $11,220 20,910 8,300 5,630 1,630 5,020 Buildings 365 Cash 13,340 Accounts receivable Debt investments (short-term) balance sheet. (List the current assets in order...
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...
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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...
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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...
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CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK NEXT At the beginning of the current period, Nash's Trading Post, LLC had balances in Accounts Receivable of $201.400 and in Allowance for Doubtful Accounts of $8,570 (credit). During the period, it had credit sales of $840,400 and collections of $758,910. It wrote off as uncollectible accounts receivable of $8.026. However, a $2,889 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are...
What am i missing?
nt CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK Exercise 2-3 Suppose the following items were taken from the December 31, 2017, assets section of the Vaughn Manufacturing balanc sheet. (All dollars are in millions.) Inventory Notes receivable-due after December 31, 2018 Notes receivable-due before December 31, 2018 Accumulated depreciation-buildings $16,010 Patents $11,220 20,910 8,300 5,630 1,630 5,020 Buildings 365 Cash 13,340 Accounts receivable Debt investments (short-term) balance sheet. (List the current assets in order...
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...
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