A.
Particulars | Amount |
Accounts receivable | $ 1,050 |
Supplies | $ 500 |
Equipment | $ 2,000 |
Boats | $ 20,350 |
Property | $ 180,000 |
Less; Liquidator charges | $ (1,500) |
Les; bank loan | $ (18,000) |
Less; accounts payable | $ (3,740) |
Less; mortgage payable | $ (80,000) |
Balance due to Mr Litz | $ 100,660 |
B
In a share sale, the buyer purchases shares in the company, rather than just the assets. The buyer purchases the company – a separate legal entity. Typically, the company continues to retain its assets and liabilities. The transaction is between the company’s shareholders and the buyer of the shares. All business assets remain with the company. It is the composition of the ownership of the company that changes.
BAYLINER BOAT CHARTERS BALANCE SHEET OCTOBER 31, 20- $ Assets Bank Accounts Receivable Supplies Property Equipment...
Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Dansko Integrated Balance Sheet As of March 11, 2020 (amounts in thousands) 9,900 Accounts Payable 4,500 Debt 3,800 Other Liabilities 16,800 Total Liabilities 1,600 Paid-In Capital Retained Earnings Total Equity 36,600 Total Liabilities & Equity 2,700 3,500 1,000 7,200 8,000 21,400 29,400 36,600 Total Assets Use T-accounts to record the transactions below, which occur on March 12, 2020, close the T-accounts, and construct a balance sheet to answer the question....
On December 31, the assets of a business are: Cash, $3,500, Accounts Receivable, $14,000, and Supplies, $1,050. The liabilities on December 31 total $7,600. The owner's equity on December 31 is: O A. $11,100 OB. $25,100 O C. $10.950 O D. $18,550
Paragraph Styles FASTFORWARD Balance Sheet December 31, 2018 Assets Liabilities Cash Supplies Equipment $4,800 Accounts payable 9,600 Total liabilities 26,000 $6.200 6,200 Equity Total assets $40.400 C. Taylor, Capital Total liabilities and equity 34,200 $40.400 If the Owners capital is equal to $34,200 and the owner withdraws an additional $20,000 what is the remaining Equity amount? 2.6 pts wable a liability? HTML Editor - IE * 3 * X. EIE
Assets Equity Revenues - Expenses Cash Account receivable 6400 Stock of Supplies Property Plant & Equipment = Liabilities + Account Operating payable Expenses 3000 10000 Bank Loan Contributed capital 20000 5300 11600 36000 12000 5300 6400 11600 36000 0 0 0 = 3000 10000 12000 0 0 20000 0 59300 45000 Balance Sheet & Income Statement Coast Ltd., which has just started trading on 1 January 2019, has the following account balances prior to the recording of the final month...
Balance Sheet DR CR Cash 10000 AR 7000 Supplies 500 Equipment 5,000 Accum depreciation 2,300 Automobile 15,000 Accum depreciation 3,000 AP 5000 Wages Payable 4000 Unearned Fees 2000 Jones, Capital 10,700 Jones, Drawing 1,000 Fees Earned Rent Expense Wages Expense Utility Expense Supplies Expense Depreciation Expense Misc. Expense Total 38,500 27,000 Net income 11500 Total 38500 38500 Balance Sheet Assets: Current Assets Total Current Assets Prop. Plant and Equip. Total Prop. Plant & Equip. Total Assets...
Assets Cash CULLUMBER COMPANY Balance Sheet December 31, 2020 Liabilities $21,036 Accounts payable 11,219 Accounts receivable 64,510 Owner's capital 18,231 Total liabilities and owner's equity $114,996 Supplies Equipment Owner's drawings Total assets $29,450 (9,116) 94,662 $114,996 Prepare a correct balance sheet. (List Assets in order of liquidity.) CULLUMBER COMPANY Balance Sheet Assets Liabilities and Owner's Equity
Assets - Liabilities + Stockholders' Equity Retained Earnings Accounts + Receivable Supplies Equipment Accounts Payable Common Stock +$15,000 Revenues Expenses Dividend + $5,000 +$3,000 +$750 $4,500 + $9.400 Service Revenue Cash +$15,000 -2.000 -750 +4,900 - 1,500 -2,000 -850 +450 -3,900 -1,500 -$2,000 Rent Expense -$850 -3,900 -500 Salaries/Wages Expense Utilities Expense (b) Determine how much stockholders' equity increased for the month. Increase in stockholders' equity (c) Compute the amount of net income for the month Net income Toth Company...
RCES Assets Cash Supplies Equipment Dividends Total assets $16,240 3,000 55,680 10,440 $85,360 Balance Sheet December 31, 2019 Liabilities Accounts payable Accounts receivable Common stock Retained earnings Total liabilities and stockholders' equity $23,200 (9,860 ) 51,720 20,300 $85,360 Prepare a correct balance sheet. (List Assets in order of liquidity.) Study Larkspur, Inc. Balance Sheet December 31, 2019 Assets 16240 Accounts Receivable 9860 Supplies 3000 55680 Equipment 84780 T Total Assets Liabilities and Stockholders' Equity 23200 Liabilities Accounts Payable Stockholders' Equity...
Baltimore Company's complete assets and liabilities are Accounts Receivable $800, Equipment $10,000, Accounts Payable $4,100, Prepaid Rent $2,000, Supplies $400, Bank Loan $1,550, and Tools $300. Baltimore's total liabilities are: (All account balances are normal.) Baltimore Company's complete assets and liabilities are Accounts Receivable $2,550, Equipment $8,800, Accounts Payable $7,300, Prepaid Rent $1,650, Supplies $775, Bank Loan $4,400, and Tools $535. Baltimore's total equity is: (All account balances are normal.)
Atlas Realty Balance Sheet May 31, 2019 Assets Liabilities Cash $ 123,200 Accounts payable 48,000 Supplies 12.800 Owner's Eques Land LuAnn Martin, capital 120,000 256,000 Total assets Total liabilities and owner's equity $ 256,000