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Based on the following information and the post-closing trial balance that follows, prepare a balance sheet...
NEED HELP WITH THIS INFORMATION!!!!!! Comprehensive Problem 3 Part 5: Note: You must complete parts 1,...
NEED HELP WITH THIS INFORMATION!!!!!!
Comprehensive Problem 3 Part 5: Note: You must complete parts 1, 2, 3, and 4 of this comprehensive problem before completing part 5 Based on the following information and the post-closing trial balance that follows, prepare a balance sheet in report form at December 31 of the current year: The merchandise inventory is stated at cost by the LIFO method. The product warranty payable is a current liability. Vacation pay payable: Current liability $7,140 Long-term...
help me with common stock and retained earnings only please, i got those wrong Comprehensive Problem...
help me with common stock and retained earnings only please, i
got those wrong
Comprehensive Problem 3
Part 5:
Note: You must complete parts 1, 2, 3, and 4 of
this comprehensive problem before completing part 5.
Based on the following information and the post-closing trial
balance that follows, prepare a balance sheet in report form at
December 31 of the current year:
The merchandise inventory is stated at cost by the
LIFO method.
The product warranty payable is a...
Exercise 15-17 Metlock Corporation’s post-closing trial balance at December 31, 2020, is shown as follows. METLOCK...
Exercise 15-17
Metlock Corporation’s post-closing trial balance at December 31,
2020, is shown as follows.
METLOCK CORPORATION
POST-CLOSING TRIAL BALANCE
DECEMBER 31, 2020
Dr.
Cr.
Accounts payable
$ 307,700
Accounts receivable
$ 492,000
Accumulated depreciation—buildings
189,000
Additional paid-in capital in excess
of par—common
1,386,000
From treasury stock
161,000
Allowance for doubtful accounts
29,000
Bonds payable
319,000
Buildings
1,496,000
Cash
188,000
Common stock ($1 par)
202,000
Dividends payable (preferred stock—cash)
4,300
Inventory
609,000
Land
380,000
Preferred stock ($50 par)
450,000
Prepaid...
Preparation of Balance Sheet Ari Company's December 31 post-closing trial balance contains the following normal balances:...
Preparation of Balance Sheet Ari Company's December 31 post-closing trial balance contains the following normal balances: Cash $19,000 Accounts payable 20,000 Building 439,500 Long-term notes payable 785,000 Common stock 950,000 Retained earnings 75,000 Accumulated depreciation-Equipment 180,000 Land 877,000 Accounts receivable 22,500 Accumulated depreciation-Building 135,000 Wages payable 6,000 Patent (net of amortization) 120,000 Notes payable (short term) 131,000 Inventory 206,000 Equipment 600,000 Allowance for doubtful accounts 2,000 Required Prepare a December 31 classified balance sheet for Ari Company Do not use...
Required Use the following information to prepare a classified balance sheet for Alpha Co. at the...
Required Use the following information to prepare a classified balance sheet for Alpha Co. at the end of 2018. Accounts receivable $44,980 9,815 13,320 40,500 17,000 22,800 28,075 30, 260 Accounts payable Cash Common stock Land Long-term notes payable Merchandise inventory Retained earnings ALPHA CO. Classified Balance Sheet As of December 31, 2018 Assets ALPHA CO. Classified Balance Sheet As of December 31, 2018 Assets Current assets Total current assets Property, plant and equipment Total property, plant and equipment Total...
Required Use the following information to prepare a classified balance sheet for Alpha Co. at the...
Required Use the following information to prepare a classified balance sheet for Alpha Co. at the end of 2018. Accounts receivable $ 41,450 Accounts payable 9,390 Cash 13,640 Common stock 41,000 Land 19,000 Long-term notes payable 24,950 Merchandise inventory 30,400 Retained earnings 29,150 ALPHA CO. Classified Balance Sheet As of December 31, 2018 Assets Current assets Total current assets Property, plant and equipment Total property, plant and equipment Total assets Liabilities and Stockholders’ Equity Current liabilities Long-term liabilities Total liabilities...
Required Use the following information to prepare a classified balance sheet for Alpha Co. at the...
Required Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1. Accounts receivable Accounts payable Cash Common stock Land Long-term notes payable Merchandise inventory Retained earnings $40,210 7,090 16,240 40,500 27,040 20,300 28,325 43,925 ALPHA CO. Classified Balance Sheet As of December 31, Year 1 Current assets Total current assets $ 0 Property, plant and equipment Total property, plant and equipment 0 Total assets $ To Liabilities and Stockholders' Equity Current...
please help fill out this sheet Preparation of Balance Sheet Ari Company's December 31 post-closing trial balance contai...
please help fill out this sheet
Preparation of Balance Sheet Ari Company's December 31 post-closing trial balance contains the following normal balances: Cash $19,000 Accounts payable 20,000 Building 439,500 Long-term notes payable 785,000 Common stock 950,000 Retained earnings 75,000 Accumulated depreciation-Equipment 180,000 Land 877,000 Accounts receivable 22,500 Accumulated depreciation-Building 135,000 Wages payable 6,000 Patent (net of amortization) 120,000 Notes payable (short term) 131,000 Inventory 206,000 Equipment 600,000 Allowance for doubtful accounts 2,000 DUSITISSUUUISE Balance Sheet December 31 Assets Current Assets:...
Preparing a Classified Balance Sheet The following balances are from the post-closing trial balance of Armour...
Preparing a Classified Balance Sheet The following balances are from the post-closing trial balance of Armour Inc. Account Title Debit Credit Cash $16,000 $ Accounts receivable 65,000 Allowance for doubtful accounts 7,500 Inventory 90,000 Prepaid insurance 1,200 Short-term investments 28,000 Equipment 100,000 Building 300,000 Accumulated depreciation-equipment 20,000 Accumulated depreciation-building 7,500 Goodwill 30,300 Accounts payable 45,000 Salaries payable 5,000 Interest payable 1,500 Income tax payable 9,000 Notes payable, 8%, 5-year 250,000 Bonds payable, 7%, 10-year 15,000 Common stock 200,000 Retained earnings...
Classified Balance Sheet The George Company collected the following information for the preparation of its December...
Classified Balance Sheet The George Company collected the following information for the preparation of its December 31, classified balance sheet: Property Plant and Accounts Receivable $22,000 Equipment $200,000 Cash 17,000 Inventory 57,000 Other Long-Term Other Current Assets 25,000 Assets 40,000 Common Accounts Payable 25,000 stock 92,000 Retained Long-Term Liabilities 60,000 Earnings ? Other Current Liabilities 19.000 Prepare a classified balance sheet for George Company. GEORGE COMPANY Balance Sheet December 31 Assets Liabilities & Stockholders' Equity Current Assets: Current Liabilities: $...
NEED HELP WITH THIS INFORMATION!!!!!!
Comprehensive Problem 3 Part 5: Note: You must complete parts 1, 2, 3, and 4 of this comprehensive problem before completing part 5 Based on the following information and the post-closing trial balance that follows, prepare a balance sheet in report form at December 31 of the current year: The merchandise inventory is stated at cost by the LIFO method. The product warranty payable is a current liability. Vacation pay payable: Current liability $7,140 Long-term...
help me with common stock and retained earnings only please, i
got those wrong
Comprehensive Problem 3
Part 5:
Note: You must complete parts 1, 2, 3, and 4 of
this comprehensive problem before completing part 5.
Based on the following information and the post-closing trial
balance that follows, prepare a balance sheet in report form at
December 31 of the current year:
The merchandise inventory is stated at cost by the
LIFO method.
The product warranty payable is a...
Exercise 15-17
Metlock Corporation’s post-closing trial balance at December 31,
2020, is shown as follows.
METLOCK CORPORATION
POST-CLOSING TRIAL BALANCE
DECEMBER 31, 2020
Dr.
Cr.
Accounts payable
$ 307,700
Accounts receivable
$ 492,000
Accumulated depreciation—buildings
189,000
Additional paid-in capital in excess
of par—common
1,386,000
From treasury stock
161,000
Allowance for doubtful accounts
29,000
Bonds payable
319,000
Buildings
1,496,000
Cash
188,000
Common stock ($1 par)
202,000
Dividends payable (preferred stock—cash)
4,300
Inventory
609,000
Land
380,000
Preferred stock ($50 par)
450,000
Prepaid...
Preparation of Balance Sheet Ari Company's December 31 post-closing trial balance contains the following normal balances: Cash $19,000 Accounts payable 20,000 Building 439,500 Long-term notes payable 785,000 Common stock 950,000 Retained earnings 75,000 Accumulated depreciation-Equipment 180,000 Land 877,000 Accounts receivable 22,500 Accumulated depreciation-Building 135,000 Wages payable 6,000 Patent (net of amortization) 120,000 Notes payable (short term) 131,000 Inventory 206,000 Equipment 600,000 Allowance for doubtful accounts 2,000 Required Prepare a December 31 classified balance sheet for Ari Company Do not use...
Required Use the following information to prepare a classified balance sheet for Alpha Co. at the end of 2018. Accounts receivable $44,980 9,815 13,320 40,500 17,000 22,800 28,075 30, 260 Accounts payable Cash Common stock Land Long-term notes payable Merchandise inventory Retained earnings ALPHA CO. Classified Balance Sheet As of December 31, 2018 Assets ALPHA CO. Classified Balance Sheet As of December 31, 2018 Assets Current assets Total current assets Property, plant and equipment Total property, plant and equipment Total...
Required Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1. Accounts receivable Accounts payable Cash Common stock Land Long-term notes payable Merchandise inventory Retained earnings $40,210 7,090 16,240 40,500 27,040 20,300 28,325 43,925 ALPHA CO. Classified Balance Sheet As of December 31, Year 1 Current assets Total current assets $ 0 Property, plant and equipment Total property, plant and equipment 0 Total assets $ To Liabilities and Stockholders' Equity Current...
please help fill out this sheet
Preparation of Balance Sheet Ari Company's December 31 post-closing trial balance contains the following normal balances: Cash $19,000 Accounts payable 20,000 Building 439,500 Long-term notes payable 785,000 Common stock 950,000 Retained earnings 75,000 Accumulated depreciation-Equipment 180,000 Land 877,000 Accounts receivable 22,500 Accumulated depreciation-Building 135,000 Wages payable 6,000 Patent (net of amortization) 120,000 Notes payable (short term) 131,000 Inventory 206,000 Equipment 600,000 Allowance for doubtful accounts 2,000 DUSITISSUUUISE Balance Sheet December 31 Assets Current Assets:...
Preparing a Classified Balance Sheet The following balances are from the post-closing trial balance of Armour Inc. Account Title Debit Credit Cash $16,000 $ Accounts receivable 65,000 Allowance for doubtful accounts 7,500 Inventory 90,000 Prepaid insurance 1,200 Short-term investments 28,000 Equipment 100,000 Building 300,000 Accumulated depreciation-equipment 20,000 Accumulated depreciation-building 7,500 Goodwill 30,300 Accounts payable 45,000 Salaries payable 5,000 Interest payable 1,500 Income tax payable 9,000 Notes payable, 8%, 5-year 250,000 Bonds payable, 7%, 10-year 15,000 Common stock 200,000 Retained earnings...
Classified Balance Sheet The George Company collected the following information for the preparation of its December 31, classified balance sheet: Property Plant and Accounts Receivable $22,000 Equipment $200,000 Cash 17,000 Inventory 57,000 Other Long-Term Other Current Assets 25,000 Assets 40,000 Common Accounts Payable 25,000 stock 92,000 Retained Long-Term Liabilities 60,000 Earnings ? Other Current Liabilities 19.000 Prepare a classified balance sheet for George Company. GEORGE COMPANY Balance Sheet December 31 Assets Liabilities & Stockholders' Equity Current Assets: Current Liabilities: $...
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