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Using the Excel template for question number 21 that you
downloaded prior to starting this exam,...
Problems: (25 points) 1. (Balance Sheet Preparation) Presented below are a number of balance sheet items...
Problems: (25 points) 1. (Balance Sheet Preparation) Presented below are a number of balance sheet items for Montoya, Inc. for the current year, 2020. (15 points) Accumulated depreciation-equipment S 292,000 Payroll taxes payable 52.591 Inventory 239,800 Bonds payable 285,000 Rent payable (short-term) 45,000 Income taxes payable 98,362 Cash 360,000 Rent payable (long-term) 480,000 Land 480,000 Common stock, Si par value 200,000 Notes receivable 445.700 Preferred stock, S10 par value 150,000 Notes payable (to banks) 265.000 Prepaid expenses 87,920 Accounts payable...
Problems: (25 points) 1. (Balance Sheet Preparation) Presented below are a number of balance sheet items...
Problems: (25 points) 1. (Balance Sheet Preparation) Presented below are a number of balance sheet items for Montoya, Inc. for the current year, 2020. (15 points) Accumulated depreciation-equipment S 292,000 Payroll taxes payable 52.591 Inventory 239,800 Bonds payable 285,000 Rent payable (short-term) 45,000 Income taxes payable 98,362 Cash 360,000 Rent payable (long-term) 480,000 Land 480,000 Common stock, Si par value 200,000 Notes receivable 445.700 Preferred stock, S10 par value 150,000 Notes payable (to banks) 265.000 Prepaid expenses 87,920 Accounts payable...
Problem 5-2 Presented below are a number of balance sheet items for Sheffield, Inc. for the current year, 2020. Goodwil...
Problem 5-2 Presented below are a number of balance sheet items for Sheffield, Inc. for the current year, 2020. Goodwill $128,780 Accumulated Depreciation-Equipment $292,310 Payroll Taxes Payable 181,371 Inventory 243,580 Bonds payable Rent payable (short-term) 303,780 48,780 Discount on bonds payable Income taxes payable 15,310 102,142 Cash Rent payable (long-term) Common stock, $1 par value 363,780 483,780 Land 203,780 483,780 Preferred stock, $10 par value Notes receivable 449,480 153,780 Prepaid expenses Notes payable (to banks) 268,780 91,700 493,780 Equipment Debt...
Current Attempt in Progress Presented below are a number of balance sheet items for Whispering, Inc....
Current Attempt in Progress Presented below are a number of balance sheet items for Whispering, Inc. for the current year, 2020. Goodwill $292.380 241,810 Payroll Taxes Payable Bonds payable Discount on bonds payable $ 127,010 Accumulated Depreciation-Equipment 179,601 Inventory 302,010 Rent payable (short-term) 15,380 Income taxes payable Cash 362,010 Rent payable (long-term 47.010 100,372 492.010 202.010 152,010 Land 482,010 Common stock, $1 par value 447.710 Preferred stock. $10 par value Notes receivable Notes payable (to banks) 267,010 Prepaid expenses 89.930...
The following items were taken from the financial statements of Bridgeport Company. (All amounts are in...
The following items were taken from the financial statements of Bridgeport Company. (All amounts are in thousands.) Long-term debt Prepaid insurance Equipment Stock investments (long-term) Debt investments (short-term) Notes payable (due in 2020) Cash $900 Accumulated depreciation equipment $5,600 970 Accounts payable 1,200 11.100 Notes payable (due after 2020) 400 200 Common stock 11,470 3,700 Retained earnings 2.000 400 Accounts receivable 1,400 2,700 Inventory 1,900 Prepare a classified balance sheet in good form as of December 31, 2019. (Enter amounts...
Presented below are a number of balance sheet items for Swifty, Inc. for the current year,...
Presented below are a number of balance sheet items for Swifty, Inc. for the current year, 2020. Goodwill $ 126,590 Accumulated Depreciation-Equipment $ 292,240 Payroll Taxes Payable 179,181 Inventory 241,390 Bonds payable 301,590 Rent payable (short-term) 46,590 Discount on bonds payable 15,240 Income taxes payable 99,952 Cash 361,590 Rent payable (long-term) 481,590 Land 481,590 Common stock, $1 par value 201,590 Notes receivable 447,290 Preferred stock, $10 par value 151,590 Notes payable (to banks) 266,590 Prepaid expenses 89,510 Accounts payable 491,590...
Presented below are a number of balance sheet items for Sheridan, Inc. for the current year,...
Presented below are a number of balance sheet items for Sheridan, Inc. for the current year, 2020. Goodwill Payroll Taxes Payable Bonds payable Discount on bonds payable Cash Land Notes receivable Notes payable (to banks) Accounts payable Retained earnings Income taxes receivable Notes payable (long-term) $ 128,390 180,981 303,390 15,350 363,390 483,390 449,090 268,390 493,390 ? 101,020 1,603,390 Accumulated Depreciation-Equipment Inventory Rent payable (short-term) Income taxes payable Rent payable (long-term) Common stock, $1 par value Preferred stock, $10 par value...
please answer Instructions The adjusted trial balance for Commanche Company is below. Commanche Company ended its...
please answer
Instructions The adjusted trial balance for Commanche Company is below. Commanche Company ended its fiscal year on December 31, 2020. Using the Excel template for question number 23 that you downloaded prior to starting this exam, prepare closing entries at December 31, 2020. When finished answering this question, upload your completed worksheet containing your answer. Debits Credits Cash $16,900 Accounts receivable 7,200 13,600 Equipment Accumulated depreciation- equipment $5,400 Accounts payable 2,800 Unearned rent revenue 1,200 Capital 30,700 Drawing...
the template adjusted trail balance, prepare an Income Statement, Owner's Equity Statement, and CLASSIFIED Balance Sheet...
the template
adjusted trail balance, prepare an Income Statement, Owner's Equity Statement, and CLASSIFIED Balance Sheet for the month ended Dec. 31st. You may use the template provided or attach an excel spreadsheet with your solution. Trent Company Adjusted Trial Balance December 31 Account Debit Credit 12700 20000 15000 35000 Cash Accounts Receivable Prepaid Insurance Equipment Acc Depreciation Equipment Accounts Payable Unearned Revenue Notes Payable Trent, Capital Trent, Drawing Service Revenue Adversting Expense Depreciation Expense Salary Expense Insurance Expense Rent...
Problem 5-2 Presented below are a number of balance sheet items for Teal, Inc. for the...
Problem 5-2 Presented below are a number of balance sheet items for Teal, Inc. for the current year, 2020. Goodwill $ 127,990 Accumulated Depreciation-Equipment $ 292,160 Payroll Taxes Payable 180,581 Inventory 242,790 Bonds payable 302,990 Rent payable (short-term) 47,990 Discount on bonds payable 15,160 Income taxes payable 101,352 Cash 362,990 Rent payable (long-term) 482,990 Land 482,990 Common stock, $1 par value 202,990 Notes receivable 448,690 Preferred stock, $10 par value 152,990 Notes payable (to banks) 267,990 Prepaid expenses 90,910 Accounts...
Problems: (25 points) 1. (Balance Sheet Preparation) Presented below are a number of balance sheet items for Montoya, Inc. for the current year, 2020. (15 points) Accumulated depreciation-equipment S 292,000 Payroll taxes payable 52.591 Inventory 239,800 Bonds payable 285,000 Rent payable (short-term) 45,000 Income taxes payable 98,362 Cash 360,000 Rent payable (long-term) 480,000 Land 480,000 Common stock, Si par value 200,000 Notes receivable 445.700 Preferred stock, S10 par value 150,000 Notes payable (to banks) 265.000 Prepaid expenses 87,920 Accounts payable...
Problems: (25 points) 1. (Balance Sheet Preparation) Presented below are a number of balance sheet items for Montoya, Inc. for the current year, 2020. (15 points) Accumulated depreciation-equipment S 292,000 Payroll taxes payable 52.591 Inventory 239,800 Bonds payable 285,000 Rent payable (short-term) 45,000 Income taxes payable 98,362 Cash 360,000 Rent payable (long-term) 480,000 Land 480,000 Common stock, Si par value 200,000 Notes receivable 445.700 Preferred stock, S10 par value 150,000 Notes payable (to banks) 265.000 Prepaid expenses 87,920 Accounts payable...
Problem 5-2 Presented below are a number of balance sheet items for Sheffield, Inc. for the current year, 2020. Goodwill $128,780 Accumulated Depreciation-Equipment $292,310 Payroll Taxes Payable 181,371 Inventory 243,580 Bonds payable Rent payable (short-term) 303,780 48,780 Discount on bonds payable Income taxes payable 15,310 102,142 Cash Rent payable (long-term) Common stock, $1 par value 363,780 483,780 Land 203,780 483,780 Preferred stock, $10 par value Notes receivable 449,480 153,780 Prepaid expenses Notes payable (to banks) 268,780 91,700 493,780 Equipment Debt...
Current Attempt in Progress Presented below are a number of balance sheet items for Whispering, Inc. for the current year, 2020. Goodwill $292.380 241,810 Payroll Taxes Payable Bonds payable Discount on bonds payable $ 127,010 Accumulated Depreciation-Equipment 179,601 Inventory 302,010 Rent payable (short-term) 15,380 Income taxes payable Cash 362,010 Rent payable (long-term 47.010 100,372 492.010 202.010 152,010 Land 482,010 Common stock, $1 par value 447.710 Preferred stock. $10 par value Notes receivable Notes payable (to banks) 267,010 Prepaid expenses 89.930...
The following items were taken from the financial statements of Bridgeport Company. (All amounts are in thousands.) Long-term debt Prepaid insurance Equipment Stock investments (long-term) Debt investments (short-term) Notes payable (due in 2020) Cash $900 Accumulated depreciation equipment $5,600 970 Accounts payable 1,200 11.100 Notes payable (due after 2020) 400 200 Common stock 11,470 3,700 Retained earnings 2.000 400 Accounts receivable 1,400 2,700 Inventory 1,900 Prepare a classified balance sheet in good form as of December 31, 2019. (Enter amounts...
Presented below are a number of balance sheet items for Sheridan, Inc. for the current year, 2020. Goodwill Payroll Taxes Payable Bonds payable Discount on bonds payable Cash Land Notes receivable Notes payable (to banks) Accounts payable Retained earnings Income taxes receivable Notes payable (long-term) $ 128,390 180,981 303,390 15,350 363,390 483,390 449,090 268,390 493,390 ? 101,020 1,603,390 Accumulated Depreciation-Equipment Inventory Rent payable (short-term) Income taxes payable Rent payable (long-term) Common stock, $1 par value Preferred stock, $10 par value...
please answer
Instructions The adjusted trial balance for Commanche Company is below. Commanche Company ended its fiscal year on December 31, 2020. Using the Excel template for question number 23 that you downloaded prior to starting this exam, prepare closing entries at December 31, 2020. When finished answering this question, upload your completed worksheet containing your answer. Debits Credits Cash $16,900 Accounts receivable 7,200 13,600 Equipment Accumulated depreciation- equipment $5,400 Accounts payable 2,800 Unearned rent revenue 1,200 Capital 30,700 Drawing...
the template
adjusted trail balance, prepare an Income Statement, Owner's Equity Statement, and CLASSIFIED Balance Sheet for the month ended Dec. 31st. You may use the template provided or attach an excel spreadsheet with your solution. Trent Company Adjusted Trial Balance December 31 Account Debit Credit 12700 20000 15000 35000 Cash Accounts Receivable Prepaid Insurance Equipment Acc Depreciation Equipment Accounts Payable Unearned Revenue Notes Payable Trent, Capital Trent, Drawing Service Revenue Adversting Expense Depreciation Expense Salary Expense Insurance Expense Rent...
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