Homework Answers
As per data provided by you and for the work you have completed
so far the following are the helpful notes:
1. Increase in accounts
receivable $2100 is to be substracted. Increase in any
current asset is always substracted.
2. Depreciation of $7200 is to be added back.
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MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash $ 30,400 $...
MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash $ 30,400 $ 30,550 Accounts receivable, net 10,050 12,150 Inventory 90,100 70,150 Total current assets 130,550 112,850 Equipment 49,900 41,500 Accum. depreciation—Equipment (22,500 ) (15,300 ) Total assets $ 157,950 $ 139,050 Liabilities and Equity Accounts payable $ 23,900 $ 25,400 Salaries payable 500 600 Total current liabilities 24,400 26,000 Equity Common stock, no par value 110,000 100,000 Retained earnings 23,550 13,050 Total liabilities and equity $...
Use the following information to prepa owing information to prepare a statement of cash flows for...
Use the following information to prepa owing information to prepare a statement of cash flows for the current year using the indirect method, Exercise 12-12 Indirect: Preparing statement of cash flows P2 P3 MONTGOMERY INC. Comparative Balance Sheets Current Year Prior Year MONTGOMERY INC. Income Statement For Current Year Ended December 31 $45,575 (18,950) 26,625 At December 31 Assets Cash. Accounts receivable, net .. Inventory Total current assets Equipment Accum. depreciation-Equipment... Total assets.. Liabilities and Equity Accounts payable........ Salaries payable...
5A G Seved Check my work mode: This shows what is correct or incorrect for the...
5A G Seved Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not ing Required information The following information applies to the questions displayed below) Forten Company's current year income statement, comparative balance sheets, and additional information follow. For year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits...
Help Check my work mode: This shows what is correct or incorrect for the work you...
Help Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate complet Hentify how each transaction affects net income. .. For the statement of cash flows, identify how each transaction affects cash flows from operating activities, cash flows from investing activities, and cash flows from financing activities. Answer is not complete. Balance Sheet Income Statement Statement of Cash Flows Transaction Total Liabilities Operating Activities Investing Activities Total...
Check my work mode : This shows what is correct or incorrect for the work you...
Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate con As of December 31, 2019, Armani Company's financial records show the following items and amounts. Part 3 of 3 Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2018 Retained earnings, Dec. 31, 2019 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $ 10,300 9,300 6,300...
mode : This shows what is correct or incorrect for the work you have Refer to...
mode : This shows what is correct or incorrect for the work you have Refer to the following financial statements for Crosby Corporation: CROSBY CORPORATION Income Statement For the Year Ended December 31, 20x2 Sales $ Cost of goods sold Gross profit $ Selling and administrative expense Depreciation expense Operating income $ Interest expense Earnings before taxes $ Taxes Earnings after taxes $ Preferred stock dividends Earnings available to common stockholders $ Shares outstanding Earnings per share $ 3,550, eee...
mon are on Credit preventing automatic updates (10) Cash received from equip sale, $10.000 we the...
mon are on Credit preventing automatic updates (10) Cash received from equip sale, $10.000 we the following information to prepare a statement of cash flows for the current year using the indirect method. Exercise 16-12 Indirect: Preparing MONTGOMERY INC. statement of cash flows Comparative Balance Sheets P2 P3 At December 31 Current Year Prior Year MONTGOMERY INC. Income Statement Assets For Current Year Ended December 31 Cash $ 30,400 $ 30.550 $45.575 Sales..... 10,050 Accounts receivable, net 12.150 Cost of...
ark mode: This shows what is correct or incorrect for the work you have completed so...
ark mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate comple Return to questi Exercise 8-21 Preparing a balance sheet LO P1, P3, P4 Selected accounts from Gregor Co.'s adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet. Note: On the company's balance sheet, accumulated depreciation is subtracted from Equipment, accumulated amortization is subtracted from Patents, and accumulated depletion Total equity Patents Cash...
why the answer is not completed 3: Homework Saved Check my work mode : This shows...
why the answer is not completed
3: Homework Saved Check my work mode : This shows what is correct or incorrect for the work you ha Exercise 3-12 Preparing a classified balance sheet LO C3 Credit Debit $ 5,900 14,500 8,113 195,000 $ 40,170 41,000 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense ottice supplies expense Repairs expense-Trucks...
Check my work The balance sheets for Plasma Screens Corporation, along with additional information, are provided...
Check my work The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 10 points 2021 2020 $ $ eBook 151,300 75,600 89,000 2,800 166,800 89,000 74,600 1,400 Hint References Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity:...
Use the following information to prepa owing information to prepare a statement of cash flows for the current year using the indirect method, Exercise 12-12 Indirect: Preparing statement of cash flows P2 P3 MONTGOMERY INC. Comparative Balance Sheets Current Year Prior Year MONTGOMERY INC. Income Statement For Current Year Ended December 31 $45,575 (18,950) 26,625 At December 31 Assets Cash. Accounts receivable, net .. Inventory Total current assets Equipment Accum. depreciation-Equipment... Total assets.. Liabilities and Equity Accounts payable........ Salaries payable...
5A G Seved Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not ing Required information The following information applies to the questions displayed below) Forten Company's current year income statement, comparative balance sheets, and additional information follow. For year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits...
Help Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate complet Hentify how each transaction affects net income. .. For the statement of cash flows, identify how each transaction affects cash flows from operating activities, cash flows from investing activities, and cash flows from financing activities. Answer is not complete. Balance Sheet Income Statement Statement of Cash Flows Transaction Total Liabilities Operating Activities Investing Activities Total...
Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate con As of December 31, 2019, Armani Company's financial records show the following items and amounts. Part 3 of 3 Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2018 Retained earnings, Dec. 31, 2019 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $ 10,300 9,300 6,300...
mode : This shows what is correct or incorrect for the work you have Refer to the following financial statements for Crosby Corporation: CROSBY CORPORATION Income Statement For the Year Ended December 31, 20x2 Sales $ Cost of goods sold Gross profit $ Selling and administrative expense Depreciation expense Operating income $ Interest expense Earnings before taxes $ Taxes Earnings after taxes $ Preferred stock dividends Earnings available to common stockholders $ Shares outstanding Earnings per share $ 3,550, eee...
mon are on Credit preventing automatic updates (10) Cash received from equip sale, $10.000 we the following information to prepare a statement of cash flows for the current year using the indirect method. Exercise 16-12 Indirect: Preparing MONTGOMERY INC. statement of cash flows Comparative Balance Sheets P2 P3 At December 31 Current Year Prior Year MONTGOMERY INC. Income Statement Assets For Current Year Ended December 31 Cash $ 30,400 $ 30.550 $45.575 Sales..... 10,050 Accounts receivable, net 12.150 Cost of...
ark mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate comple Return to questi Exercise 8-21 Preparing a balance sheet LO P1, P3, P4 Selected accounts from Gregor Co.'s adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet. Note: On the company's balance sheet, accumulated depreciation is subtracted from Equipment, accumulated amortization is subtracted from Patents, and accumulated depletion Total equity Patents Cash...
why the answer is not completed
3: Homework Saved Check my work mode : This shows what is correct or incorrect for the work you ha Exercise 3-12 Preparing a classified balance sheet LO C3 Credit Debit $ 5,900 14,500 8,113 195,000 $ 40,170 41,000 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense ottice supplies expense Repairs expense-Trucks...
Check my work The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 10 points 2021 2020 $ $ eBook 151,300 75,600 89,000 2,800 166,800 89,000 74,600 1,400 Hint References Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity:...
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