Homework Answers
Total Current Assets
Cash 1,10,000
Supplies 40,000
Notes Receviable 1,40,000
Accounts Receivable 5,30,000
-Allowance 7,500
Prepaid Insurance 51,000
Inventory 16,80,250
Trading Securities 71,000
Total 26,14,750
Total Property, Plant and Equipment
Copyrights 1,85,000
Land 4,50,000
Buildings 10,00,000
-Acc. Dep 8,30,000
Total 8,05,000
Total Assets= 26,14,750+8,05,000= 34,19,750
Total Current Liabilities
Notes Payable 1,95,000
Salaries and Wages Payable 25,000
Income Taxes Payable 1,65,000
Interest Payable 5,300
Accounts Payable 4,80,000
Total 8,70,300
Total Stockholder's Equity
Common Stock 12,25,000
Retained Earnings 5,30,000
(Appropriated and Non Appropriated)
Additional Capital 1,70,000
Preferred Stock 8,00,000
Total 27,25,000
Notes:
1. Retained Earnings whether appropriated or not, are a part of Stockholders' Fund
2. Debt Investments and Bonds Payable are long Term, therefore not included in Current Liabilities
Add Answer to:
The following accounts appeared on the trail balance of Ivanhoe Company at December 31, 2020. Accounts...
The following accounts appeared on the trail balance of Wildhorse Company at December 31, 2020. Notes...
The following accounts appeared on the trail balance of Wildhorse Company at December 31, 2020. Notes Payable (short-term) $185,000 Accounts Receivable $510,000 Accumulated Depreciation - Bldg. 710,000 Prepaid Insurance 52,000 Supplies 36,000 Common Stock 1,225,000 Salaries and Wages Payable 27,000 Unappropriated Retained Earnings 250,000 Debt Investments (long-term) 200,000 Inventory 1,680,250 Cash 190,000 Land 500,000 Bonds Payable Due 1/1/2028 1,000,000 Trading Securities 71,000 Allowance for Doubtful Accts. 7,100 Interest Payable 5,100 Copyrights 185,000 Buildings 1,600,000 Notes Receivable (due in 6 months)...
The following accounts appeared on the trail balance of Blossom Company at December 31, 2020. Notes...
The following accounts appeared on the trail balance of Blossom Company at December 31, 2020. Notes Payable (short-term) $185,000 Accounts Receivable $560,000 Accumulated Depreciation - Bldg. 740,000 Prepaid Insurance 51,000 Supplies 42,000 Common Stock 1,025,000 Salaries and Wages Payable 31,000 Unappropriated Retained Earnings 350,000 Debt Investments (long-term) 230,000 Inventory 1,580,250 Cash 190,000 Land 440,000 Bonds Payable Due 1/1/2028 1,200,000 Trading Securities 71,000 Allowance for Doubtful Accts. 7,800 Interest Payable 5,000 Copyrights 195,000 Buildings 1,500,000 Notes Receivable (due in 6 months)...
The following accounts appeared on the trail balance of Cullumber Company at December 31, 2020. Notes...
The following accounts appeared on the trail balance of Cullumber Company at December 31, 2020. Notes Payable (short-term) Accumulated Depreciation - Bldg. Supplies Salaries and Wages Payable Debt Investments (long-term) Cash Bonds Payable Due 1/1/2028 Allowance for Doubtful Accts. Copyrights Notes Receivable (due in 6 months) Income Taxes Payable Preferred Stock Appropriated Retained Earnings $185,000 840,000 40,000 32,000 250,000 120,000 1,200,000 7,600 185,000 130,000 165,000 740,000 220,000 Accounts Receivable Prepaid Insurance Common Stock Unappropriated Retained Earnings Inventory Land Trading Securities...
Niew Policies Current Attempt in Progress The following accounts appeared on the trail balance of Sunland...
Niew Policies Current Attempt in Progress The following accounts appeared on the trail balance of Sunland Company at December 31, 2020, $195,000 670,000 38,000 29.000 300.000 Notes Payable (short-term) Accumulated Depreciation - Bldg. Supplies Salaries and Wages Payable Debt Investments (long-term) Cash Bonds Payable Due 1/1/2028 Allowance for Doubtful Accts. Copyrights Notes Receivable (due in 6 months) Income Taxes Payable Preferred Stock Appropriated Retained Earnings 170,000 1,300,000 Accounts Receivable Prepaid Insurance Common Stock Unappropriated Retained Earnings Inventory Land Trading Securities...
The following accounts appeared on the trail balance of Elbert Company at December 31, 2017 Salaries...
The following accounts appeared on the trail balance of Elbert Company at December 31, 2017 Salaries and Wages Payable Debt Investments (long-term) Cash Bonds Payable Due 1/1/2025 Allowance for Doubtful Accts. Copyrights Notes Receivable (due in 6 months) Income Taxes Payable Preferred Stock Appropriated Retained Earnings Accounts Receivable Prepaid Insurance 34,200 Common Stock 281,400 Unappropriated Retained Earnings 170,250 Inventory 1,200,000 Land 17,800 Trading Securities 192,900 Interest Payable 138,000 Buildings 156,000 Accounts Payable 750,000 Additional Paid-in Capital 294,000 Notes Payable (short-term)...
The following accounts appeared on the trial balance of L&E Company at December 31, 2020. Notes...
The following accounts appeared on the trial balance of L&E Company at December 31, 2020. Notes Payable (short-term) Accumulated Depreciation - Bldg. Supplies Salaries and Wages Payable Debt Investments (long-term) Cash Bonds Payable Due 1/1/2028 Allowance for Doubtful Accts Copyrights Notes Receivable (due in 6 months) Income Taxes Payable Preferred Stock $ 192,000 783,000 37.800 34,200 281,400 170 250 1,200,000 7.800 192.900 138,000 156,000 750,000 Accounts Receivable Prepaid Insurance Appropriated Retained Earnings Common Stock Unappropriated Retained Earnings Inventory Land Trading...
Problem 1 - Balance sheet computations. The following accounts appeared on the trail balance of Elbert...
Problem 1 - Balance sheet computations. The following accounts appeared on the trail balance of Elbert Company at December 31, 2017 Salaries and Wages Payable Debt Investments (long-term) Cash Bonds Payable Due 1/1/2025 Allowance for Doubtful Accts. Copyrights Notes Receivable (due in 6 months) Income Taxes Payable Preferred Stock Appropriated Retained Earnings Accounts Receivable Prepaid Insurance 34,200 Common Stock 281,400 Unappropriated Retained Earnings 170,250 Inventory 1,200,000 Land 17.800 Trading Securities 192,900 Interest Payable 138,000 Buildings 156,000 Accounts Payable Additional Paid-in...
The following financial information is for Ivanhoe Company. IVANHOE COMPANY Balance Sheets December 31 Assets 2017...
The following financial information is for Ivanhoe Company. IVANHOE COMPANY Balance Sheets December 31 Assets 2017 2016 Cash $ 71,000 $66,000 Debt investments (short-term) Accounts receivable 52,000 110,000 233.000 25,000 40,000 91,000 165,000 27,000 Inventory Prepaid expenses Land 130,000 130,000 Building and equipment (net) 259.000 184,000 Total assets $880,000 $703,000 Liabilities and Stockholders' Equity Notes payable $171,000 $110,000 Accounts payable 68,000 53,000 Accrued liabilities Bonds payable, due 2017 39,000 249,000 207,000 146,000 39,000 169,000 207,000 125,000 Common stock, $10 par...
These items are taken from the financial statements of Ivanhoe Company at December 31, 2022 Buildings...
These items are taken from the financial statements of Ivanhoe Company at December 31, 2022 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2022) Accumulated depreciation-buildings Accounts payable Notes payable Accumulated depreciation equipment Interest payable Service revenue $90,988 10,836 2,752 10,182 70,864 52,632 671 4,558 2236 51,600 34,400 39,216 8.170 80,496 16,099 3,096 12642 Prepare a classified balance sheet. Assume that $11.696 of the note payable will be...
The following are Ivanhoe Corp's comparative balance sheet accounts at December 31, 2020 and 2019 with...
The following are Ivanhoe Corp's comparative balance sheet accounts at December 31, 2020 and 2019 with a column showing the increase (decrease) from 2019 to 2020. COMPARATIVE BALANCE SHEETS Increase (Decrease) 2020 2019 Cash $812,400 $700,100 $112,300 Accounts receivable 1,135,500 1,158,500 (23.000) Inventory 1,844.800 1,713,900 130.900 Property, plant, and equipment 3,316,600 2,964 200 352,400 Accumulated depreciation (1.160.900 (1.040,300) (120.600) 309,500 274,000 35,500 Investment in Myers Co. Loan receivable Total assets 250,500 250,500 $6,508,400 $5,770,400 $738,000 $1,015,400 $955,000 $60,400 29,900 50,300...
The following accounts appeared on the trail balance of Cullumber Company at December 31, 2020. Notes Payable (short-term) Accumulated Depreciation - Bldg. Supplies Salaries and Wages Payable Debt Investments (long-term) Cash Bonds Payable Due 1/1/2028 Allowance for Doubtful Accts. Copyrights Notes Receivable (due in 6 months) Income Taxes Payable Preferred Stock Appropriated Retained Earnings $185,000 840,000 40,000 32,000 250,000 120,000 1,200,000 7,600 185,000 130,000 165,000 740,000 220,000 Accounts Receivable Prepaid Insurance Common Stock Unappropriated Retained Earnings Inventory Land Trading Securities...
Niew Policies Current Attempt in Progress The following accounts appeared on the trail balance of Sunland Company at December 31, 2020, $195,000 670,000 38,000 29.000 300.000 Notes Payable (short-term) Accumulated Depreciation - Bldg. Supplies Salaries and Wages Payable Debt Investments (long-term) Cash Bonds Payable Due 1/1/2028 Allowance for Doubtful Accts. Copyrights Notes Receivable (due in 6 months) Income Taxes Payable Preferred Stock Appropriated Retained Earnings 170,000 1,300,000 Accounts Receivable Prepaid Insurance Common Stock Unappropriated Retained Earnings Inventory Land Trading Securities...
The following accounts appeared on the trail balance of Elbert Company at December 31, 2017 Salaries and Wages Payable Debt Investments (long-term) Cash Bonds Payable Due 1/1/2025 Allowance for Doubtful Accts. Copyrights Notes Receivable (due in 6 months) Income Taxes Payable Preferred Stock Appropriated Retained Earnings Accounts Receivable Prepaid Insurance 34,200 Common Stock 281,400 Unappropriated Retained Earnings 170,250 Inventory 1,200,000 Land 17,800 Trading Securities 192,900 Interest Payable 138,000 Buildings 156,000 Accounts Payable 750,000 Additional Paid-in Capital 294,000 Notes Payable (short-term)...
The following accounts appeared on the trial balance of L&E Company at December 31, 2020. Notes Payable (short-term) Accumulated Depreciation - Bldg. Supplies Salaries and Wages Payable Debt Investments (long-term) Cash Bonds Payable Due 1/1/2028 Allowance for Doubtful Accts Copyrights Notes Receivable (due in 6 months) Income Taxes Payable Preferred Stock $ 192,000 783,000 37.800 34,200 281,400 170 250 1,200,000 7.800 192.900 138,000 156,000 750,000 Accounts Receivable Prepaid Insurance Appropriated Retained Earnings Common Stock Unappropriated Retained Earnings Inventory Land Trading...
Problem 1 - Balance sheet computations. The following accounts appeared on the trail balance of Elbert Company at December 31, 2017 Salaries and Wages Payable Debt Investments (long-term) Cash Bonds Payable Due 1/1/2025 Allowance for Doubtful Accts. Copyrights Notes Receivable (due in 6 months) Income Taxes Payable Preferred Stock Appropriated Retained Earnings Accounts Receivable Prepaid Insurance 34,200 Common Stock 281,400 Unappropriated Retained Earnings 170,250 Inventory 1,200,000 Land 17.800 Trading Securities 192,900 Interest Payable 138,000 Buildings 156,000 Accounts Payable Additional Paid-in...
The following financial information is for Ivanhoe Company. IVANHOE COMPANY Balance Sheets December 31 Assets 2017 2016 Cash $ 71,000 $66,000 Debt investments (short-term) Accounts receivable 52,000 110,000 233.000 25,000 40,000 91,000 165,000 27,000 Inventory Prepaid expenses Land 130,000 130,000 Building and equipment (net) 259.000 184,000 Total assets $880,000 $703,000 Liabilities and Stockholders' Equity Notes payable $171,000 $110,000 Accounts payable 68,000 53,000 Accrued liabilities Bonds payable, due 2017 39,000 249,000 207,000 146,000 39,000 169,000 207,000 125,000 Common stock, $10 par...
These items are taken from the financial statements of Ivanhoe Company at December 31, 2022 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2022) Accumulated depreciation-buildings Accounts payable Notes payable Accumulated depreciation equipment Interest payable Service revenue $90,988 10,836 2,752 10,182 70,864 52,632 671 4,558 2236 51,600 34,400 39,216 8.170 80,496 16,099 3,096 12642 Prepare a classified balance sheet. Assume that $11.696 of the note payable will be...
The following are Ivanhoe Corp's comparative balance sheet accounts at December 31, 2020 and 2019 with a column showing the increase (decrease) from 2019 to 2020. COMPARATIVE BALANCE SHEETS Increase (Decrease) 2020 2019 Cash $812,400 $700,100 $112,300 Accounts receivable 1,135,500 1,158,500 (23.000) Inventory 1,844.800 1,713,900 130.900 Property, plant, and equipment 3,316,600 2,964 200 352,400 Accumulated depreciation (1.160.900 (1.040,300) (120.600) 309,500 274,000 35,500 Investment in Myers Co. Loan receivable Total assets 250,500 250,500 $6,508,400 $5,770,400 $738,000 $1,015,400 $955,000 $60,400 29,900 50,300...
Most questions answered within 3 hours.
-
Under the influence of its drive force, a snowmobile is moving
at a constant velocity along...
asked 1 hour ago -
Why do organizations decline? What steps can top
management take to halt, decline, and restore organizational...
asked 1 hour ago -
. Suppose a discrete random variable has probability
distribution
P(x) = .2 if x = 0...
asked 52 minutes ago -
What mechanisms Drive speciation??
(I.e. what was Dawins theory on the orgin of species, and how...
asked 2 hours ago -
The manager at a car assembly plant believes that the mean
assembly time for a car...
asked 3 hours ago -
Which of the following is true of electron capture?
A) It decreases the nuclide's mass number...
asked 5 hours ago -
Assuming an efficiency of 43.10%, calculate the actual yield of
magnesium nitrate formed from 114.9 g...
asked 5 hours ago -
The highly pathogenic bacterium Clostridium
perfringens causes gangrene, a disease that results in the
destruction of...
asked 7 hours ago -
In the context of situation analysis, which of the following is
a category for analysis in...
asked 7 hours ago -
In a study of the gas phase decomposition of sulfuryl chloride
at 600 K SO2Cl2(g)SO2(g) +...
asked 7 hours ago -
75 g of 2-propanol (C3H8O) and 25 g of pentane are mixed in a
200 mL...
asked 7 hours ago -
The 2800-turn coil in a dc motor has an area per turn of 1.1 ×
10-2...
asked 7 hours ago