Presented below are the ending balances of accounts for the Kansas Instruments Corporation at December 31,...
Presented below are the ending balances of accounts for the Kansas Instruments Corporation at December 31, 2021. Account Title Debits Credits Cash $ 40,000 Accounts receivable 170,000 Raw materials 44,000 Notes receivable 120,000 Interest receivable 23,000 Interest payable $ 25,000 Investment in debt securities 52,000 Land 70,000 Buildings 1,700,000 Accumulated depreciation—buildings 640,000 Work in process 62,000 Finished goods 109,000 Equipment 340,000 Accumulated depreciation—equipment 150,000 Patent (net) 140,000 Prepaid rent (for the next two years) 80,000 Deferred revenue 56,000 Accounts payable...
3 Presented below are the ending balances of accounts for the Kansas Instruments Corporation at December 31, 2021. Credits $ 2 points Debits 37,000 164,000 41,000 117,000 20,000 $ 22,000 eBook 49,000 67,000 1,640,000 637,000 Hint Account Title Cash Accounts receivable Raw materials Notes receivable Interest receivable Interest payable Investment in debt securities Land Buildings Accumulated depreciation-buildings Work in process Finished goods Equipment Accumulated depreciation-equipment Patent (net) Prepaid rent (for the next two years) Deferred revenue Accounts payable Notes payable...
The following are the ending balances of accounts at December 31, 2021. for the Valley Pump Corporation Account Title Cash Accounts receivable Inventory Interest payable Investment in equity securities Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Copyright (net) Prepaid expenses (next 12 months) Accounts payable Deferred revenue (next 12 months) Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Debits Credits 44,000 94,000 119,000 $ 29,000 82,000 158,000 395,000 119,000 113,000 44,000 31,000 51,000 84,000 39,000 345,000 6,000...
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Presented below are the ending balances of accounts for the Kansas Instruments Corporation at December 31, 2021. Credits $ Debits 29,000 148,000 33,000 109,000 12,000 $ 14,000 41,000 59,000 1,480,000 629,000 Account Title Cash Accounts receivable Raw materials Notes receivable Interest receivable Interest payable Investment in debt securities Land Buildings Accumulated depreciation-buildings Work in process Finished goods Equipment Accumulated depreciation equipment Patent (net) Prepaid rent (for...
The following is the ending balances of accounts at December 31, 2021, for the Vosburgh Electronics Corporation. Credits Account Title Cash Short-term investments Accounts receivable Long-term investments Inventory Receivables from employees Prepaid expenses (for 2022) Land Building Equipment Patent (net) Franchise (net) Notes receivable Interest receivable Accumulated depreciation-building Accumulated depreciation-equipment Accounts payable Dividends payable (payable on 1/16/2022) Interest payable Income Taxes payable Deferred revenue Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Debits 103,000 218,000 159,000 53,000...
The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation. Credits Debits $ 38,000 82,000 107,000 $ 23,000 70,000 146,000 365,000 113,000 101,000 Account Title Cash Accounts receivable Inventory Interest payable Investment in equity securities Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Copyright (net) Prepaid expenses (next 12 months) Accounts payable Deferred revenue (next 12 months) Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals 38,000 25,000 45,000 78,000 33,000 315,000...
The following is the ending balances of accounts at December 31,
2021, for the VElectronics Corporation.
Account Title
Debits
Credits
Cash
81,000
Short-term investments
196,000
Accounts receivable
137,000
Long-term investments
42,000
Inventory
222,000
Receivables from employees
47,000
Prepaid expenses (for 2022)
23,000
Land
287,000
Building
1,620,000
Equipment
644,000
Patent (net)
159,000
Franchise (net)
47,000
Notes receivable
285,000
Interest receivable
19,000
Accumulated depreciation—building
627,000
Accumulated depreciation—equipment
217,000
Accounts payable
196,000
Dividends payable (payable on 1/16/2022)
17,000
Interest payable
23,000
Income Taxes...
The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation. Account TitleDebitsCreditsCash$29,000Accounts receivable64,000Inventory89,000Interest payable$14,000Investment in equity securities52,000Land128,000Buildings320,000Accumulated depreciation—buildings104,000Equipment83,000Accumulated depreciation—equipment29,000Copyright (net)16,000Prepaid expenses (next 12 months)36,000Accounts payable69,000Deferred revenue (next 12 months)24,000Notes payable270,000Allowance for uncollectible accounts9,000Common stock240,000Retained earnings58,000Totals$817,000$817,000Additional Information:The $128,000 balance in the land account consists of $104,000 for the cost of land where the plant and office buildings are located. The remaining $24,000 represents the cost of land being held for speculation.The $52,000 balance in the investment in equity securities...
The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation. Credits $ Debits 43,000 92,000 117,000 $ 28,000 80,000 156,000 390,000 118,000 111,000 Account Title Cash Accounts receivable Inventory Interest payable Investment in equity securities Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Copyright (net) Prepaid expenses (next 12 months) Accounts payable Deferred revenue (next 12 months) Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals 43,000 30,000 50,000 83,000 38,000 340,000...
The following are the ending balances of accounts at December 31, 2021. for the Valley Pump Corporation. Account Title Cash Accounts receivable Inventory Interest payable Investment in equity securities Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Copyright (net) Prepaid expenses (next 12 months) Accounts payable Deferred revenue (next 12 months) Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Debits Credits $ 25,000 56,000 81,000 $ 10,000 44,000 120,000 300,000 100,000 75,000 25,000 12,000 32,000 65,000 20,000...