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1 XL Axiata 10.20 7 31% Soal No. 1 REYNOLDS GOURMET FOODS COMPANY Comparative Balance Sheets...
Here are comparative balance sheets for Velo Company. Velo Company Comparative Balance Sheets December 31 Assets...
Here are comparative balance sheets for Velo Company.
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends...
Blossom Company reported the following information for 2022. Blossom Company Comparative Balance Sheets December 31 Change...
Blossom Company reported the following information for 2022. Blossom Company Comparative Balance Sheets December 31 Change Increase/Decrease Assets 2022 2021 Cash $165,200 173,600 123,200 $100,800 61,600 $64,400 Increase 112,000 Increase Accounts receivable Inventory -0- 123,200 Increase Prepaid expenses 16,800 11,200 5,600 Increase Land 154,000 196,000 42,000 Decrease Buildings 560,000 560,000 -0- Accumulated depreciation-buildings (58,800) (39,200) 19,600 Increase Equipment 512,400 (78,400) 190,400 (28,000) 322,000 Increase 50,400 Increase Accumulated depreciation-equipment Totals $1,568,000 $1,052,800 Liabilities and Stockholders' Equity Accounts payable $120,400 $112,000 $8,400...
Problem 12-07A Presented below are the financial statements of Novak Company Novak Company Comparative Balance Sheets...
Problem 12-07A Presented below are the financial statements of Novak Company Novak Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 112,000 Accounts receivable 64,000 Inventory 89,600 Property, plant, and equipment 192,000 Accumulated depreciation (102,400 ) Total $355,200 2021 $ 64,000 44,800 64,000 249,600 (76,800 ) $345,600 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 60,800 22,400 54,400 57,600 160,000 $355,200 $ 48,000 25,600 105,600 44,800 121,600 $345,600 $774,400 560,000...
The comparative balance sheets for Spicer Company as of December 31 are presented below. Spicer Company...
The comparative balance sheets for Spicer Company as of December
31 are presented below. Spicer Company Comparative Balance Sheets
December 31 Assets 2022 2021 Cash $ 68,000 $ 45,000 Accounts
receivable 50,000 58,000 Inventory 151,450 142,000 Prepaid expenses
15,280 21,000 Land 145,000 130,000 Buildings 200,000 200,000
Accumulated depreciation—buildings (60,000 ) (40,000 ) Equipment
225,000 155,000 Accumulated depreciation—equipment (45,000 )
(35,000 ) Total $749,730 $676,000 Liabilities and Stockholders’
Equity Accounts payable $ 44,730 $ 36,000 Bonds payable 300,000
300,000 Common stock,...
Pharoah Company reported the following information for 2022. Pharoah Company Comparative Balance Sheets December 31 Assets...
Pharoah Company reported the following information for 2022. Pharoah Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $41,300 $25,200 43,400 15,400 Accounts receivable Inventory Prepaid expenses Change Increase/Decrease $16,100 Increase 28,000 Increase 30,800 Increase 1,400 Increase 10,500 Decrease 30,800 -0- 4,200 2,800 Land 38,500 49,000 140,000 140,000 -0- (14,700) (9,800) Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment 128,100 47,600 4,900 Increase 80,500 Increase 12,600 Increase (19,600) (7.000) $392,000 $263,200 Totals $30,100 $28,000 0 7,000 Liabilities and Stockholders' Equity Accounts...
Dair Company's income statement and comparative balance sheets follow. DAIR COMPANY Income Statement For Year Ended...
Dair Company's income statement and comparative balance sheets follow. DAIR COMPANY Income Statement For Year Ended December 31, 2011 Sales $ 700,000 Cost of goods sold $ 440,000 Wages and other operating expenses 95,000 Depreciation expense 21,000 Amortization expense 6,000 Interest expense 10,000 Income tax expense 36,000 Loss on bond retirement 5,000 613,000 Net income $87,000 DAIR COMPANY Balance Sheets Dec 31, 2011 Dec 31, 2010 Assets Cash $ 22,000 $18,000 Accounts receivable 54,000 48,000 Inventory 103,000 109,000 Prepaid expenses...
Pharoah Company Comparative Balance Sheets December 31 Assets 2022 $177,760 2021 $ 106,480 Cash Accounts receivable...
Pharoah Company Comparative Balance Sheets December 31 Assets 2022 $177,760 2021 $ 106,480 Cash Accounts receivable 193,160 83,600 Inventory 247,500 226,270 Prepaid expenses 62,480 57,200 Long-term investments 303,600 239,800 Plant assets 627,000 533,500 Accumulated depreciation (110,000) (114,400 ) Total $1,501,500 $1,132,450 Liabilities and Stockholders' Equity Accounts payable $ 224,400 $ 148,060 Accrued expenses payable 36,300 46,200 Bonds payable 242,000 300 321,200 000 Common stock 484,000 385,000 Retained earnings 514,800 231,990 Total $1,501,500 $1,132,450 Pharoah Company Income Statement Data For the...
Problem 12-07A Presented below are the financial statements of Novak Company Novak Company Comparative Balance Sheets...
Problem 12-07A Presented below are the financial statements of Novak Company Novak Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 112,000 Accounts receivable 64,000 Inventory 89,600 Property, plant, and equipment 192,000 Accumulated depreciation (102,400) Total $355,200 2021 $ 64,000 44,800 64,000 249,600 (76,800 ) $345,600 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 60,800 22,400 54,400 57,600 160,000 $355,200 $ 48,000 25,600 105,600 44,800 121,600 $345,600 $774,400 560,000 214,400...
MICHAELS COMPANY COMPARATIVE BALANCE SHEETS AS OF DECEMBER 31, 2014 AND 2013 2014 2013 Cash $10,860...
MICHAELS COMPANY COMPARATIVE BALANCE SHEETS AS OF DECEMBER 31, 2014 AND 2013 2014 2013 Cash $10,860 $3,180 13,420 Accounts receivable 21,480 Short-term investments 21,350 31,200 Inventory 41,410 36,550 Prepaid rent Prepaid insurance Supplies 2,640 13,420 2,810 940 1,360 770 Land 124,560 172,800 Buildings Accumulated depreciation-buildings 350,170 350,170 (105,080) (88,410) Equipment 524,950 400,440 Accumulated depreciation-equipment (130,130) (113,160) 51,700 Patents 45,090 Total assets $911,470 $873,020 Accounts payable Income taxes payable Salaries and wages payable Short-term notes payable Long-term notes payable Bonds payable...
Sheridan Company Comparative Balance Sheets December 31 Assets 2019 Cash $93,000 Accounts receivable 89,800 Inventory 120,000...
Sheridan Company Comparative Balance Sheets December 31 Assets 2019 Cash $93,000 Accounts receivable 89,800 Inventory 120,000 Investments 84,600 Equipment 249,000 Accumulated depreciation-equipment (49,600) $586,800 Liabilities and Stockholders' Equity Accounts payable $58,000 Accrued expenses payable 11,800 Bonds payable 103,000 Common stock 251,000 Retained earnings 163,000 $586,800 2018 $47,500 57,900 101,000 86,900 205,000 (40,100) $458,200 $ 48,800 17,800 69,700 193,000 128,900 $458,200 Sheridan Company Income Statement For the Year Ended December 31, 2019 Sales revenue Gain on disposal of equipment $299,000 8,270...
Here are comparative balance sheets for Velo Company.
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends...
Blossom Company reported the following information for 2022. Blossom Company Comparative Balance Sheets December 31 Change Increase/Decrease Assets 2022 2021 Cash $165,200 173,600 123,200 $100,800 61,600 $64,400 Increase 112,000 Increase Accounts receivable Inventory -0- 123,200 Increase Prepaid expenses 16,800 11,200 5,600 Increase Land 154,000 196,000 42,000 Decrease Buildings 560,000 560,000 -0- Accumulated depreciation-buildings (58,800) (39,200) 19,600 Increase Equipment 512,400 (78,400) 190,400 (28,000) 322,000 Increase 50,400 Increase Accumulated depreciation-equipment Totals $1,568,000 $1,052,800 Liabilities and Stockholders' Equity Accounts payable $120,400 $112,000 $8,400...
Problem 12-07A Presented below are the financial statements of Novak Company Novak Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 112,000 Accounts receivable 64,000 Inventory 89,600 Property, plant, and equipment 192,000 Accumulated depreciation (102,400 ) Total $355,200 2021 $ 64,000 44,800 64,000 249,600 (76,800 ) $345,600 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 60,800 22,400 54,400 57,600 160,000 $355,200 $ 48,000 25,600 105,600 44,800 121,600 $345,600 $774,400 560,000...
The comparative balance sheets for Spicer Company as of December
31 are presented below. Spicer Company Comparative Balance Sheets
December 31 Assets 2022 2021 Cash $ 68,000 $ 45,000 Accounts
receivable 50,000 58,000 Inventory 151,450 142,000 Prepaid expenses
15,280 21,000 Land 145,000 130,000 Buildings 200,000 200,000
Accumulated depreciation—buildings (60,000 ) (40,000 ) Equipment
225,000 155,000 Accumulated depreciation—equipment (45,000 )
(35,000 ) Total $749,730 $676,000 Liabilities and Stockholders’
Equity Accounts payable $ 44,730 $ 36,000 Bonds payable 300,000
300,000 Common stock,...
Pharoah Company reported the following information for 2022. Pharoah Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $41,300 $25,200 43,400 15,400 Accounts receivable Inventory Prepaid expenses Change Increase/Decrease $16,100 Increase 28,000 Increase 30,800 Increase 1,400 Increase 10,500 Decrease 30,800 -0- 4,200 2,800 Land 38,500 49,000 140,000 140,000 -0- (14,700) (9,800) Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment 128,100 47,600 4,900 Increase 80,500 Increase 12,600 Increase (19,600) (7.000) $392,000 $263,200 Totals $30,100 $28,000 0 7,000 Liabilities and Stockholders' Equity Accounts...
Dair Company's income statement and comparative balance sheets follow. DAIR COMPANY Income Statement For Year Ended December 31, 2011 Sales $ 700,000 Cost of goods sold $ 440,000 Wages and other operating expenses 95,000 Depreciation expense 21,000 Amortization expense 6,000 Interest expense 10,000 Income tax expense 36,000 Loss on bond retirement 5,000 613,000 Net income $87,000 DAIR COMPANY Balance Sheets Dec 31, 2011 Dec 31, 2010 Assets Cash $ 22,000 $18,000 Accounts receivable 54,000 48,000 Inventory 103,000 109,000 Prepaid expenses...
Pharoah Company Comparative Balance Sheets December 31 Assets 2022 $177,760 2021 $ 106,480 Cash Accounts receivable 193,160 83,600 Inventory 247,500 226,270 Prepaid expenses 62,480 57,200 Long-term investments 303,600 239,800 Plant assets 627,000 533,500 Accumulated depreciation (110,000) (114,400 ) Total $1,501,500 $1,132,450 Liabilities and Stockholders' Equity Accounts payable $ 224,400 $ 148,060 Accrued expenses payable 36,300 46,200 Bonds payable 242,000 300 321,200 000 Common stock 484,000 385,000 Retained earnings 514,800 231,990 Total $1,501,500 $1,132,450 Pharoah Company Income Statement Data For the...
Problem 12-07A Presented below are the financial statements of Novak Company Novak Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 112,000 Accounts receivable 64,000 Inventory 89,600 Property, plant, and equipment 192,000 Accumulated depreciation (102,400) Total $355,200 2021 $ 64,000 44,800 64,000 249,600 (76,800 ) $345,600 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 60,800 22,400 54,400 57,600 160,000 $355,200 $ 48,000 25,600 105,600 44,800 121,600 $345,600 $774,400 560,000 214,400...
MICHAELS COMPANY COMPARATIVE BALANCE SHEETS AS OF DECEMBER 31, 2014 AND 2013 2014 2013 Cash $10,860 $3,180 13,420 Accounts receivable 21,480 Short-term investments 21,350 31,200 Inventory 41,410 36,550 Prepaid rent Prepaid insurance Supplies 2,640 13,420 2,810 940 1,360 770 Land 124,560 172,800 Buildings Accumulated depreciation-buildings 350,170 350,170 (105,080) (88,410) Equipment 524,950 400,440 Accumulated depreciation-equipment (130,130) (113,160) 51,700 Patents 45,090 Total assets $911,470 $873,020 Accounts payable Income taxes payable Salaries and wages payable Short-term notes payable Long-term notes payable Bonds payable...
Sheridan Company Comparative Balance Sheets December 31 Assets 2019 Cash $93,000 Accounts receivable 89,800 Inventory 120,000 Investments 84,600 Equipment 249,000 Accumulated depreciation-equipment (49,600) $586,800 Liabilities and Stockholders' Equity Accounts payable $58,000 Accrued expenses payable 11,800 Bonds payable 103,000 Common stock 251,000 Retained earnings 163,000 $586,800 2018 $47,500 57,900 101,000 86,900 205,000 (40,100) $458,200 $ 48,800 17,800 69,700 193,000 128,900 $458,200 Sheridan Company Income Statement For the Year Ended December 31, 2019 Sales revenue Gain on disposal of equipment $299,000 8,270...
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