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The following is the trial balance of Oriole Corporation at December 31, 2020. A physical count...
The following is the trial balance of Oriole Corporation
at December 31, 2020.
A physical count of inventory on December 31 resulted in
an inventory amount of $172,800; thus, cost of goods sold for 2020
is $1,741,500.
Credits $27,000 48,600 432,000 48,600 2,970,000 132,300 75,600 189,000 ORIOLE CORPORATION TRIAL BALANCE DECEMBER 31, 2020 Debits Purchase Discounts Cash $512,190 Accounts Receivable 283,500 Rent Revenue Retained Earnings Salaries and Wages Payable Sales Revenue Notes Receivable 297,000 Accounts Payable Accumulated Depreciation-Equipment Sales Discounts...
P4-2 (LO 3, 4, 6) Single-Step Statement, Retained Earnings Statement, Periodic Inventory Presented below is the...
P4-2 (LO 3, 4, 6) Single-Step Statement, Retained Earnings Statement, Periodic Inventory Presented below is the trial balance of Thompson Corporation at December 31, 2017 THOMPSON CORPORATION Trial Balance December 31, 2017 Debit Credit $ 10,000 Purchase Discounts Cash Accounts Receivable Rent Revenue Retained Earnings Salaries and Wages Payable Sales Revenue Notes Receivable Accounts Payable Accumulated Depreciation Equipment Sales Discounts Sales Returns and Allowance Notes Payable Selling Expenses Administrative Expenses Common Stock Income Tax Expense Cash Dividends Allowance for Doubtful...
The following balances were taken from the books of Pina Colada Limited on December 31, 2020:...
The following balances were taken from the books of Pina Colada Limited on December 31, 2020: Interest income Cash Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts Land Equipment Building Cost of goods sold $87,000 52,000 1,390,000 130,000 17,000 126,000 6,000 44,000 100,000 200,000 150,000 626,000 Accumulated depreciation-equipment Accumulated depreciation-buildings Notes receivable Selling expenses Accounts payable Bonds payable Administrative expenses Unearned revenue Interest expense Notes payable Loss from storm damage Depreciation expense...
Problem 12-07A a-b (Video) The following are the financial statements of Pina Colada Corp Pina Colada...
Problem 12-07A a-b (Video) The following are the financial statements of Pina Colada Corp Pina Colada Corp. Comparative Balance Sheets December 31 Asset Cash Accounts receivable Inventory Equipment Accumulated depreciation-equipment (29,600) (23,200) 2020 2019 $36,900 $19,500 18,600 20,300 78,000 32,100 30,000 59,600 Total $129,000 $113,200 Liabilities and Stockholders Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $28,200 $16,500 8,500 32,400 13,800 42,000 $129,000 $113,200 7,100 26,700 17,500 49,500 Total
Problem 4-5 (Part Level Submission) The trial balance follows for Culver Corporation at December 31, 20...
Problem 4-5 (Part Level Submission) The trial balance follows for Culver Corporation at December 31, 20 CULVER CORPORATION Trial Balance Year Ended December 31, 2017 Debit Credit Purchase discounts Cash Accounts receivable Rent revenue Retained earnings Salaries and wages payable Sales revenue Notes receivable Accounts payable Accumulated depreciation-equipment Sales discounts Sales returns and allowances Notes payable Selling expenses Administrative expenses Common shares Income tax expense Dividends Allowance for doubtful accounts Supplies $15,500 $294,035 162,750 27,900 248,000 27,900 1,705,000 170,500 75,950...
Comprehensive Problem 8 (Part Level Submission) Pina Colada Corp.’s balance sheet at December 31, 2018, is...
Comprehensive Problem 8 (Part Level
Submission)
Pina Colada Corp.’s balance sheet at December 31, 2018, is
presented below.
Pina Colada Corp.
Balance Sheet
December 31, 2018
Cash
$14,300
Accounts payable
$8,900
Accounts receivable
20,600
Common stock
19,500
Allowance for doubtful accounts
(700
)
Retained earnings
14,900
Inventory
9,100
$43,300
$43,300
During January 2019, the following transactions occurred. Pina
Colada uses the perpetual inventory method.
Jan. 1
Pina Colada accepted a 4-month, 8% note from Merando Company in
payment of Merando’s...
*Problem 4-05 (Part Level Submission) The trial balance follows for Bridgeport Corporation at December 31, 2020:...
*Problem 4-05 (Part Level Submission) The trial balance follows for Bridgeport Corporation at December 31, 2020: BRIDGEPORT CORPORATION Trial Balance December 31, 2020 Debit Credit Purchase discounts $15,500 Cash $294,035 Accounts receivable 162,750 Rent revenue 27,900 Retained earnings 248,000 Salaries and wages payable 27,900 Sales revenue 1,705,000 Notes receivable 170,500 Accounts payable 75,950 Accumulated depreciation-equipment 43,400 Sales discounts 22,475 Sales returns and allowances 27,125 Notes payable 108,500 Selling expenses 359,600 Administrative expenses 153,450 Common shares 465,000 Income tax expense 83,545...
These items are taken from the financial statements of Pina Colada Corp. at December 31, 2018....
These items are taken from the financial statements of Pina Colada Corp. at December 31, 2018. Buildings $153,410 Accounts receivable 18,270 Prepaid insurance 6,786 Cash 17,168 Equipment 119,480 Land 88,740 Office expense 841 Income tax expense 290 Depreciation expense 7,685 Interest expense 3,770 Common shares 89,900 Retained earnings (January 1, 2018) 58,000 66,120 Accumulated depreciation-building Accounts payable 12,180 Income taxes payable 1,595 Bank loan payable (due July 1, 2020) 135,720 Accumulated depreciation-equipment 27,144 Interest payable 5,220 Sales 20,561 Calculate the...
Pina Colada Corp.’s balance sheet at December 31, 2018, is presented below. Pina Colada Corp. Balance...
Pina Colada Corp.’s balance sheet at December 31, 2018, is
presented below.
Pina Colada Corp.
Balance Sheet
December 31, 2018
Cash
$14,300
Accounts payable
$8,900
Accounts receivable
20,600
Common stock
19,500
Allowance for doubtful accounts
(700
)
Retained earnings
14,900
Inventory
9,100
$43,300
$43,300
During January 2019, the following transactions occurred. Pina
Colada uses the perpetual inventory method.
Jan. 1
Pina Colada accepted a 4-month, 8% note from Merando Company in
payment of Merando’s $5,100 account.
3
Pina Colada wrote...
Prepare a classified statement of financial position. Assume that $19,720 of the bank loan payable will...
Prepare a classified statement of financial position. Assume that $19,720 of the bank loan payable will be paid in 2019. (List Property, plant and equipment in order of land, buildings and equipment. List Current Assets in order of liquidity.) 'PINA COLADA CORP. Statement of Financial Position Assets These items are taken from the financial statements of Pina Colada Corp. at December 31, 2018. Buildings $153,410 Accounts receivable 18,270 Prepaid insurance 6,786 Cash 17,168 Equipment 119,480 Land 88,740 Office expense 841...
The following is the trial balance of Oriole Corporation
at December 31, 2020.
A physical count of inventory on December 31 resulted in
an inventory amount of $172,800; thus, cost of goods sold for 2020
is $1,741,500.
Credits $27,000 48,600 432,000 48,600 2,970,000 132,300 75,600 189,000 ORIOLE CORPORATION TRIAL BALANCE DECEMBER 31, 2020 Debits Purchase Discounts Cash $512,190 Accounts Receivable 283,500 Rent Revenue Retained Earnings Salaries and Wages Payable Sales Revenue Notes Receivable 297,000 Accounts Payable Accumulated Depreciation-Equipment Sales Discounts...
P4-2 (LO 3, 4, 6) Single-Step Statement, Retained Earnings Statement, Periodic Inventory Presented below is the trial balance of Thompson Corporation at December 31, 2017 THOMPSON CORPORATION Trial Balance December 31, 2017 Debit Credit $ 10,000 Purchase Discounts Cash Accounts Receivable Rent Revenue Retained Earnings Salaries and Wages Payable Sales Revenue Notes Receivable Accounts Payable Accumulated Depreciation Equipment Sales Discounts Sales Returns and Allowance Notes Payable Selling Expenses Administrative Expenses Common Stock Income Tax Expense Cash Dividends Allowance for Doubtful...
The following balances were taken from the books of Pina Colada Limited on December 31, 2020: Interest income Cash Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts Land Equipment Building Cost of goods sold $87,000 52,000 1,390,000 130,000 17,000 126,000 6,000 44,000 100,000 200,000 150,000 626,000 Accumulated depreciation-equipment Accumulated depreciation-buildings Notes receivable Selling expenses Accounts payable Bonds payable Administrative expenses Unearned revenue Interest expense Notes payable Loss from storm damage Depreciation expense...
Problem 12-07A a-b (Video) The following are the financial statements of Pina Colada Corp Pina Colada Corp. Comparative Balance Sheets December 31 Asset Cash Accounts receivable Inventory Equipment Accumulated depreciation-equipment (29,600) (23,200) 2020 2019 $36,900 $19,500 18,600 20,300 78,000 32,100 30,000 59,600 Total $129,000 $113,200 Liabilities and Stockholders Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $28,200 $16,500 8,500 32,400 13,800 42,000 $129,000 $113,200 7,100 26,700 17,500 49,500 Total
Problem 4-5 (Part Level Submission) The trial balance follows for Culver Corporation at December 31, 20 CULVER CORPORATION Trial Balance Year Ended December 31, 2017 Debit Credit Purchase discounts Cash Accounts receivable Rent revenue Retained earnings Salaries and wages payable Sales revenue Notes receivable Accounts payable Accumulated depreciation-equipment Sales discounts Sales returns and allowances Notes payable Selling expenses Administrative expenses Common shares Income tax expense Dividends Allowance for doubtful accounts Supplies $15,500 $294,035 162,750 27,900 248,000 27,900 1,705,000 170,500 75,950...
Comprehensive Problem 8 (Part Level
Submission)
Pina Colada Corp.’s balance sheet at December 31, 2018, is
presented below.
Pina Colada Corp.
Balance Sheet
December 31, 2018
Cash
$14,300
Accounts payable
$8,900
Accounts receivable
20,600
Common stock
19,500
Allowance for doubtful accounts
(700
)
Retained earnings
14,900
Inventory
9,100
$43,300
$43,300
During January 2019, the following transactions occurred. Pina
Colada uses the perpetual inventory method.
Jan. 1
Pina Colada accepted a 4-month, 8% note from Merando Company in
payment of Merando’s...
*Problem 4-05 (Part Level Submission) The trial balance follows for Bridgeport Corporation at December 31, 2020: BRIDGEPORT CORPORATION Trial Balance December 31, 2020 Debit Credit Purchase discounts $15,500 Cash $294,035 Accounts receivable 162,750 Rent revenue 27,900 Retained earnings 248,000 Salaries and wages payable 27,900 Sales revenue 1,705,000 Notes receivable 170,500 Accounts payable 75,950 Accumulated depreciation-equipment 43,400 Sales discounts 22,475 Sales returns and allowances 27,125 Notes payable 108,500 Selling expenses 359,600 Administrative expenses 153,450 Common shares 465,000 Income tax expense 83,545...
These items are taken from the financial statements of Pina Colada Corp. at December 31, 2018. Buildings $153,410 Accounts receivable 18,270 Prepaid insurance 6,786 Cash 17,168 Equipment 119,480 Land 88,740 Office expense 841 Income tax expense 290 Depreciation expense 7,685 Interest expense 3,770 Common shares 89,900 Retained earnings (January 1, 2018) 58,000 66,120 Accumulated depreciation-building Accounts payable 12,180 Income taxes payable 1,595 Bank loan payable (due July 1, 2020) 135,720 Accumulated depreciation-equipment 27,144 Interest payable 5,220 Sales 20,561 Calculate the...
Pina Colada Corp.’s balance sheet at December 31, 2018, is
presented below.
Pina Colada Corp.
Balance Sheet
December 31, 2018
Cash
$14,300
Accounts payable
$8,900
Accounts receivable
20,600
Common stock
19,500
Allowance for doubtful accounts
(700
)
Retained earnings
14,900
Inventory
9,100
$43,300
$43,300
During January 2019, the following transactions occurred. Pina
Colada uses the perpetual inventory method.
Jan. 1
Pina Colada accepted a 4-month, 8% note from Merando Company in
payment of Merando’s $5,100 account.
3
Pina Colada wrote...
Prepare a classified statement of financial position. Assume that $19,720 of the bank loan payable will be paid in 2019. (List Property, plant and equipment in order of land, buildings and equipment. List Current Assets in order of liquidity.) 'PINA COLADA CORP. Statement of Financial Position Assets These items are taken from the financial statements of Pina Colada Corp. at December 31, 2018. Buildings $153,410 Accounts receivable 18,270 Prepaid insurance 6,786 Cash 17,168 Equipment 119,480 Land 88,740 Office expense 841...
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