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) 130,000 Accounts Payable 490,000 Income Taxes Payable 155,000 Additional Paid-in Capital 130,000 Preferred Stock 820,000 Appropriated Retained Earnings 290,000 Compute each of the following: 1. Total current assets $ 2. Total property, plant, and equipment $ 3. Total assets $ 4. Total current liabilities $ 5. Total stockholders’ equity $ Attempts: 0 of 1 used
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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 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...
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 Ivanhoe Company at December 31, 2020. Accounts...
The following accounts appeared on the trail balance of Ivanhoe Company at December 31, 2020. Accounts Receivable Prepaid Insurance Common Stock Unappropriated Retained Earnings Inventory Land 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 $195,000 830,000 40,000 25,000 230,000 110,000 1,200,000 7,500 185,000 140,000 165,000 800,000 240,000 $530,000 51,000...
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...
Prepare a balance sheet for Alaskan Peach Corp. as of December 31, 2019, based on the...
Prepare a balance sheet for Alaskan Peach Corp. as of December 31, 2019, based on the following information: cash = $193,000; patents and copyrights = $847,000; accounts payable = $296,000; accounts receivable = $253,000; tangible net fixed assets = $5,100,000; inventory = $538,000; notes payable = $189,000; accumulated retained earnings = $4,586,000; long-term debt = $1,250,000. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Balance Sheet Assets Current assets Cash Accounts receivable...
Problem 13-04A The following financial information is for Blossom Company. BLOSSOM COMPANY Balance Sheets December 31...
Problem 13-04A The following financial information is for Blossom Company. BLOSSOM COMPANY Balance Sheets December 31 Assets 2022 Cash $ 72,000 Debt investments (short-term) 54,000 Accounts receivable 109,000 Inventory 235,000 Prepaid expenses 26,000 Land 134,000 Building and equipment (net) 259,000 Total assets $889,000 Liabilities and Stockholders' Equity Notes payable $170,000 Accounts payable 66,000 Accrued liabilities 41,000 Bonds payable, due 2025 249,000 Common stock, $10 par 198,000 Retained earnings 165,000 Total liabilities and stockholders' equity $889,000 2021 $ 67,000 39,000 92,000...
The following financial information is for Priscoll Company. Priscoll Company Balance Sheets December 31 Assets 2020...
The following financial information is for Priscoll Company. Priscoll Company Balance Sheets December 31 Assets 2020 Cash $ 137,200 Debt investments (short-term) 107,800 Accounts receivable 203,840 Inventory 450,800 Prepaid expenses 49,000 Land 254,800 Building and equipment (net) 509,600 Total assets $1,713,040 Liabilities and Stockholders' Equity Notes payable (short-term) $333,200 Accounts payable 127,400 Accrued liabilities 78.400 Bonds payable, due 2023 490,000 Common stock, $10 par 392,000 Retained earnings 292,040 Total liabilities and stockholders' equity $1,713,040 2019 $ 127,400 78,400 176,400 323,400...
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...
The following accounts appeared on the trail balance of Ivanhoe Company at December 31, 2020. Accounts Receivable Prepaid Insurance Common Stock Unappropriated Retained Earnings Inventory Land 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 $195,000 830,000 40,000 25,000 230,000 110,000 1,200,000 7,500 185,000 140,000 165,000 800,000 240,000 $530,000 51,000...
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...
Prepare a balance sheet for Alaskan Peach Corp. as of December 31, 2019, based on the following information: cash = $193,000; patents and copyrights = $847,000; accounts payable = $296,000; accounts receivable = $253,000; tangible net fixed assets = $5,100,000; inventory = $538,000; notes payable = $189,000; accumulated retained earnings = $4,586,000; long-term debt = $1,250,000. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Balance Sheet Assets Current assets Cash Accounts receivable...
Problem 13-04A The following financial information is for Blossom Company. BLOSSOM COMPANY Balance Sheets December 31 Assets 2022 Cash $ 72,000 Debt investments (short-term) 54,000 Accounts receivable 109,000 Inventory 235,000 Prepaid expenses 26,000 Land 134,000 Building and equipment (net) 259,000 Total assets $889,000 Liabilities and Stockholders' Equity Notes payable $170,000 Accounts payable 66,000 Accrued liabilities 41,000 Bonds payable, due 2025 249,000 Common stock, $10 par 198,000 Retained earnings 165,000 Total liabilities and stockholders' equity $889,000 2021 $ 67,000 39,000 92,000...
The following financial information is for Priscoll Company. Priscoll Company Balance Sheets December 31 Assets 2020 Cash $ 137,200 Debt investments (short-term) 107,800 Accounts receivable 203,840 Inventory 450,800 Prepaid expenses 49,000 Land 254,800 Building and equipment (net) 509,600 Total assets $1,713,040 Liabilities and Stockholders' Equity Notes payable (short-term) $333,200 Accounts payable 127,400 Accrued liabilities 78.400 Bonds payable, due 2023 490,000 Common stock, $10 par 392,000 Retained earnings 292,040 Total liabilities and stockholders' equity $1,713,040 2019 $ 127,400 78,400 176,400 323,400...
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