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net changes in the balance sheet accounts for the year 2019 are shown below. [20] Account:...
Problem 130 The net changes in the balance sheet accounts of Eusey, Inc. for the year...
Problem 130 The net changes in the balance sheet accounts of Eusey, Inc. for the year 2018 are shown below: Account Debit Credit Cash $ 91,200 Accounts recelvable s 48,500 Allowance for doubtful accounts 10,100 Inventory 197,600 Prepaid expenses Long-term investments 18,500 144,500 Land 385,000 Buildings 649,500 Machinery Equipment 100,000 28,300 Accumulated depreciations Buildings 24,300 Machinery Equipment Accounts payable 20,300 12.500 190,800 Accrued liabilities 73,100 Dividends payebles 128,000 36,000 900,000 Premium on bonds Bonds payable Preferred stock ($50 par) 60,000...
The net changes in the balance sheet accounts of Logan, Inc. for the below: 2. year 2019 are show...
The net changes in the balance sheet accounts of Logan, Inc. for the below: 2. year 2019 are shown Accounts Debit Credit S 102,800 Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Prepaid Expenses Long-Term Investments Land Buildings Machinery Office Equipment Accumulated Depreciation S 32,000 7,000 108,600 10,000 72,000 150,000 300,000 50,000 14,000 12,000 10,000 Buildings Machinery 6,000 91,600 Office Equipment Accounts Payable Accrued Liabilities Dividends Payable Premium on Bonds Payable Bonds Payable Preferred stock ($50 par) Common stock ($10...
BALANCE SHEET PRIOR YEAR CURRENT YEAR 52000 CASH 43200 62400 68000 ACCOUNTS RECEIVABLE (NET) INVENTORIES 85200...
BALANCE SHEET PRIOR YEAR CURRENT YEAR 52000 CASH 43200 62400 68000 ACCOUNTS RECEIVABLE (NET) INVENTORIES 85200 72000 0 16000 LAND 396000 296000 EQUIPMENT ACCUMULATED DEPRECIATION -172000 -126400 423600 16880 0 0 42800 44000 ACCOUNTS PAYABLE (MERCHANDISE CREDITORS) COMMON STOCK, SIO PAR 160000 136000 49600 48000 PAID-IN CAPITAL IN EXCESS OF PAR-COMMON STOCK 171200 140000 RETAINED EARNINGS 423600 368800 04) (20 MARKS) ON THE BASIS OF THE FOLLOWING DATA FOR BRANCH CO. FOR THE CURRENT AND PRECEDING YEARS ENDED DECEMBER 31,...
he balance sheet data of Culver Company at the end of 2020 and 2019 are shown...
he balance sheet data of Culver Company at the end of 2020 and 2019 are shown below. 2020 2019 Cash $30,100 $35,100 Accounts receivable (net) 55,000 44,900 Inventory 64,600 45,100 Prepaid expenses 15,000 24,700 Equipment 90,200 74,500 Accumulated depreciation—equipment (18,040 ) (8,000 ) Land 70,200 39,800 $307,060 $256,100 Accounts payable $64,600 $52,500 Accrued expenses 14,800 17,900 Notes payable—bank, long-term –0– 22,900 Bonds payable 30,300 –0– Common stock, $10 par 190,400 160,000 Retained earnings 6,960 2,800 $307,060 $256,100 Land was acquired...
The balance sheet data of Pronghorn Company at the end of 2020 and 2019 are shown...
The balance sheet data of Pronghorn Company at the end of 2020 and 2019 are shown below. 2020 2019 Cash $29,800 $35,200 Accounts receivable (net) 55,300 45,200 Inventory 65,200 45,500 Prepaid expenses 15,000 25,200 Equipment 89,900 74,600 Accumulated depreciation—equipment (17,980 ) (7,900 ) Land 70,600 40,300 $307,820 $258,100 Accounts payable $65,500 $52,100 Accrued expenses 15,000 17,900 Notes payable—bank, long-term –0– 23,100 Bonds payable 30,300 –0– Common stock, $10 par 188,000 157,700 Retained earnings 9,020 7,300 $307,820 $258,100 Land was acquired...
8. Javelina Publications balance sheet accounts as of December 31, 2019 are listed below. Prepare a...
8. Javelina Publications balance sheet accounts as of December 31, 2019 are listed below. Prepare a properly classified balance sheet as of December 31, 2019 Land Sinking fund for bond retirement Discount on bonds payable Equipment Preferred Stock, $100 par Accumulated depreciation, buildings Investment in bonds held to maturity Accrued Wages Additional paid in capital, common Buildings Bond Payable (due 2025) Office supplies Retained earnings Inventory Account receivable Account payable Prepaid insurance Common Stock, $10 par Allowance for doubtful accounts...
The balance sheet data of Naley Company at the end of 2019 and 2018 follow: 2019...
The balance sheet data of Naley Company at the end of 2019 and 2018 follow: 2019 2018 Cash $ 50,000 $ 70,000 Accounts receivable (net) 120,000 90,000 Merchandise inventory 140,000 90,000 Prepaid expenses 20,000 50,000 Buildings and equipment 180,000 150,000 Accumulated depreciation—buildings and equipment (36,000) (16,000) Land 180,000 80,000 Totals $654,000 $514,000 Accounts payable $136,000 $110,000 Accrued expenses 24,000 36,000 Notes payable—bank, long-term 80,000 Mortgage payable 60,000 Common stock, $10 par 418,000 318,000 Retained earnings (deficit) 16,000 (30,000) $654,000 $514,000...
3. Marcus Industries had the balance sheet shown below at December 31, 2019. MARCUS INDUSTRIES BALANCE...
3. Marcus Industries had the balance sheet shown below at December 31, 2019. MARCUS INDUSTRIES BALANCE SHEET DECEMBER 31, 2019 Cash $ 31,000 Accounts receivable 56,800 Accounts payable $ 61,000 Investments 86,000 Notes payable (long-term) 76,000 Plant assets (net) 138,500 Common stock 200,000 Land 66,000 Retained earnings 41,300 $378,300 $378,300 During 2020, the following occurred: 1. Marcus Industries sold part of its investment portfolio for $20,000. This transaction resulted in a loss of $2,100 for the firm. The company classifies...
The following changes took place last year in Pavolik Company's balance sheet accounts: Asset and Contra-Asset...
The following changes took place last year in Pavolik Company's balance sheet accounts: Asset and Contra-Asset Accounts Liabilities and Stockholders Equity Accounts Cash Accounts receivable Inventory Prepaid expenses Long-tere investments Property, plant, and equipment Accumulated depreciation 28 D Accounts payable s24I Accrued liabilities $58DIncome taxes payable s19I Bonds payable 21D Common stock 395 I Retained earnings 82 I s 62 1 24 D S 29 I s284 I $ 96 0 82 I D Decrease:I Increase Long-term investments that cost...
Michaels Company Below find the trial balance for Michaels for the year ended December 31, 2019....
Michaels Company Below find the trial balance for Michaels for the year ended December 31, 2019. Using these accounts please prepare a classified balance Sheet at December 31, 2019 Account Name Debit (Credit) Accounts Payable (140,000) Accounts Receivable 170,000 Accumulated Depreciation=Equip (180,000) Accumulated Depreciation-Bldg (370,000) Allowance for uncollectible Accounts (10,000) Bond Sinking Fund 250,000 Bonds Payable (1,000,000) Building 1,050,000 Cash 150,000 Cash Surrender Value of Life Insurance 45,000 Common Stock, $1 par 400,000 shares authorized 100,000 shares issued (100,000) Copyrights...
Problem 130 The net changes in the balance sheet accounts of Eusey, Inc. for the year 2018 are shown below: Account Debit Credit Cash $ 91,200 Accounts recelvable s 48,500 Allowance for doubtful accounts 10,100 Inventory 197,600 Prepaid expenses Long-term investments 18,500 144,500 Land 385,000 Buildings 649,500 Machinery Equipment 100,000 28,300 Accumulated depreciations Buildings 24,300 Machinery Equipment Accounts payable 20,300 12.500 190,800 Accrued liabilities 73,100 Dividends payebles 128,000 36,000 900,000 Premium on bonds Bonds payable Preferred stock ($50 par) 60,000...
The net changes in the balance sheet accounts of Logan, Inc. for the below: 2. year 2019 are shown Accounts Debit Credit S 102,800 Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Prepaid Expenses Long-Term Investments Land Buildings Machinery Office Equipment Accumulated Depreciation S 32,000 7,000 108,600 10,000 72,000 150,000 300,000 50,000 14,000 12,000 10,000 Buildings Machinery 6,000 91,600 Office Equipment Accounts Payable Accrued Liabilities Dividends Payable Premium on Bonds Payable Bonds Payable Preferred stock ($50 par) Common stock ($10...
BALANCE SHEET PRIOR YEAR CURRENT YEAR 52000 CASH 43200 62400 68000 ACCOUNTS RECEIVABLE (NET) INVENTORIES 85200 72000 0 16000 LAND 396000 296000 EQUIPMENT ACCUMULATED DEPRECIATION -172000 -126400 423600 16880 0 0 42800 44000 ACCOUNTS PAYABLE (MERCHANDISE CREDITORS) COMMON STOCK, SIO PAR 160000 136000 49600 48000 PAID-IN CAPITAL IN EXCESS OF PAR-COMMON STOCK 171200 140000 RETAINED EARNINGS 423600 368800 04) (20 MARKS) ON THE BASIS OF THE FOLLOWING DATA FOR BRANCH CO. FOR THE CURRENT AND PRECEDING YEARS ENDED DECEMBER 31,...
8. Javelina Publications balance sheet accounts as of December 31, 2019 are listed below. Prepare a properly classified balance sheet as of December 31, 2019 Land Sinking fund for bond retirement Discount on bonds payable Equipment Preferred Stock, $100 par Accumulated depreciation, buildings Investment in bonds held to maturity Accrued Wages Additional paid in capital, common Buildings Bond Payable (due 2025) Office supplies Retained earnings Inventory Account receivable Account payable Prepaid insurance Common Stock, $10 par Allowance for doubtful accounts...
3. Marcus Industries had the balance sheet shown below at December 31, 2019. MARCUS INDUSTRIES BALANCE SHEET DECEMBER 31, 2019 Cash $ 31,000 Accounts receivable 56,800 Accounts payable $ 61,000 Investments 86,000 Notes payable (long-term) 76,000 Plant assets (net) 138,500 Common stock 200,000 Land 66,000 Retained earnings 41,300 $378,300 $378,300 During 2020, the following occurred: 1. Marcus Industries sold part of its investment portfolio for $20,000. This transaction resulted in a loss of $2,100 for the firm. The company classifies...
The following changes took place last year in Pavolik Company's balance sheet accounts: Asset and Contra-Asset Accounts Liabilities and Stockholders Equity Accounts Cash Accounts receivable Inventory Prepaid expenses Long-tere investments Property, plant, and equipment Accumulated depreciation 28 D Accounts payable s24I Accrued liabilities $58DIncome taxes payable s19I Bonds payable 21D Common stock 395 I Retained earnings 82 I s 62 1 24 D S 29 I s284 I $ 96 0 82 I D Decrease:I Increase Long-term investments that cost...
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