Presented below are data for Cullumber Company 2020 2021 Assets, January 1 $4220 $5100 Liabilities, January...
Presented below are data for Cullumber Company
| 2020 | 2021 | |||||
| Assets, January 1 | $4220 | $5100 | ||||
| Liabilities, January 1 | 2570 | ? | ||||
| Stockholders' Equity, Jan. 1 | ? | ? | ||||
| Dividends | 864 | 634 | ||||
| Common Stock | 761 | 661 | ||||
| Stockholders' Equity, Dec. 31 | ? | ? | ||||
| Net Income | 855 | 669 | ||||
Stockholders' Equity at January 1, 2020 is
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Presented below are data for Cullumber Company
2020
2021
Assets, January 1
$4220
$5100
Liabilities, January...
Presented below are data for Carla Vista Co. 2020 2021 Assets, January 1 $4220 $5100 Liabilities,...
Presented below are data for Carla Vista Co.
2020
2021
Assets, January 1
$4220
$5100
Liabilities, January 1
2530
?
Stockholders' Equity, Jan. 1
?
?
Dividends
857
649
Common Stock
776
678
Stockholders' Equity, Dec. 31
?
?
Net Income
847
665
Stockholders' Equity at January 1, 2020 is
$2466.
$1454.
$1041.
$1690.
3. Presented below are data for Antwerp Corp. 2020 2021 55.040 $4,200 Assets, Jan 1 Liabilities....
3. Presented below are data for Antwerp Corp. 2020 2021 55.040 $4,200 Assets, Jan 1 Liabilities. January 1 Stockholders' Equity, Jan 1 Dividends Common Stock Stockholders' Equity, Dec. 31 Net Income 540 756 630 672 672 840 Stockholders' Equity at January 1, 2020 is A) $1,056. B) $1.140. C) $1,680. D) $2,436. 6. Lohmeyer Corporation reports: Cash provided by operating activities Cash used by investing activities Cash provided by financing activities Beginning cash balance or S320,000 110,000 140.000 90,000 What...
Current Attempt in Progress Presented below are data for Sunland Company 2020 $8848 4858 2021 $9728...
Current Attempt in Progress Presented below are data for Sunland Company 2020 $8848 4858 2021 $9728 Assets, January 1 Liabilities, January 1 Stockholders' Equity, Jan. 1 Dividends Common Stock Stockholders' Equity, Dec. 31 Net Income 1622 1454 ? 1915 1225 1302 ? 1289 Stockholders' Equity at January 1, 2021 is $3990. 0 $4283. O $5737. O $5905.
Cullumber Company's balance sheet at December 31, 2021, is presented below. Cullumber Company Balance Sheet December 31...
Cullumber Company's balance sheet at December 31, 2021, is presented below. Cullumber Company Balance Sheet December 31, 2021 Cash $13,300 Accounts payable $9,520 Accounts receivable 19,300 Common stock 19,900 Allowance for doubtful accounts (840) Retained earnings 11,430 Inventory 9,090 $40,850 $40,850 During January 2022, the following transactions occurred. Cullumber uses the perpetual inventory method. Jan. 1 Cullumber accepted a 4-month, 8% note from Betheny Company in payment of Betheny's $6,000 account. 3 Cullumber wrote off as uncollectible the accounts of...
On January 1, 2020, Cullumber Corporation had the following stockholders' equity accounts. Common Stock ($24 par value,...
On January 1, 2020, Cullumber Corporation had the following stockholders' equity accounts. Common Stock ($24 par value, 59,000 shares issued and outstanding) $1,416,000 Paid-in Capital in Excess of Par-Common Stock 197,000 Retained Earnings 559,000 During the year, the following transactions occurred. Feb. 1 Declared a $3 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split. Prior to the split, the...
Problem 14-01A a-c (Video) On January 1, 2020, Cullumber Corporation had the following stockholders' equity accounts....
Problem 14-01A a-c (Video) On January 1, 2020, Cullumber Corporation had the following stockholders' equity accounts. Common Stock ($24 par value, 59,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,416,000 197,000 559,000 During the year, the following transactions occurred. Feb. 1 Declared a $3 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split. Prior...
The following financial information is for Cullumber Company Cullumber Company Balance Sheets December 31 2020 2019...
The following financial information is for Cullumber Company Cullumber Company Balance Sheets December 31 2020 2019 ASsels $ 70,000 $ 64,000 Cash Debt investments (short-term) 39,000 53,000 90,000 Accounts receivable 108,000 162,000 229,000 Inventory Prepaid expenses 25,000 30,000 130,000 Land 130,000 185,000 264,000 Building and equipment (net) $884,000 $695,000 Total assets Liabilities and Stockholders' Equity $172,000 $102,000 Notes payable 65,000 51,000 Accounts payable 41,000 41,000 Accrued liabilities 250,000 172,000 Bonds payable, due 2023 202,000 Common stock, $10 par 202,000 127,000...
*Problem 13-04A a1,b (Video) The following financial information is for Cullumber Company. Cullumber Company Balance Sheets...
*Problem 13-04A a1,b (Video) The following financial information is for Cullumber Company. Cullumber Company Balance Sheets December 31 Assets 2020 Cash $ 70,000 Debt investments (short-term) 53,000 Accounts receivable 108,000 Inventory 229,000 Prepaid expenses 30,000 Land 130,000 Building and equipment (net) 264,000 Total assets $884,000 Liabilities and Stockholders' Equity Notes payable $172,000 Accounts payable 65,000 Accrued liabilities 41,000 Bonds payable, due 2023 250,000 Common stock, $10 par 202,000 Retained earnings 154,000 2019 $ 64,000 39,000 90,000 162,000 25,000 130,000 185,000...
On January 1, 2020, Cullumber Corporation had the following stockholders' equity accounts. Common Stock (no...
On January 1, 2020, Cullumber Corporation had the following stockholders' equity accounts. Common Stock (no per value, 93,000 shares issued and outstanding) $1,445,000 Retained Earnings 481,000 During the year, the following transactions occurred Feb. 1 Declared a $1 cash aividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February Apr. 1 Announced a 3-for-1 stock spit. Prior to the spit, the market price per share was $39 July 1...
On January 1, 2020, Cullumber Company issued $2,410,000, 7%, 10-year bonds at $2,587,378. This price resulted...
On January 1, 2020, Cullumber Company issued $2,410,000, 7%, 10-year bonds at $2,587,378. This price resulted in a 6% effective-interest rate on the bonds. Cullumber uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest on each January 1. Prepare the journal entries to record the following transactions. (Round answers to 0 decimal places, e.g. 15,250. Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) The issuance of the...
Presented below are data for Carla Vista Co.
2020
2021
Assets, January 1
$4220
$5100
Liabilities, January 1
2530
?
Stockholders' Equity, Jan. 1
?
?
Dividends
857
649
Common Stock
776
678
Stockholders' Equity, Dec. 31
?
?
Net Income
847
665
Stockholders' Equity at January 1, 2020 is
$2466.
$1454.
$1041.
$1690.
3. Presented below are data for Antwerp Corp. 2020 2021 55.040 $4,200 Assets, Jan 1 Liabilities. January 1 Stockholders' Equity, Jan 1 Dividends Common Stock Stockholders' Equity, Dec. 31 Net Income 540 756 630 672 672 840 Stockholders' Equity at January 1, 2020 is A) $1,056. B) $1.140. C) $1,680. D) $2,436. 6. Lohmeyer Corporation reports: Cash provided by operating activities Cash used by investing activities Cash provided by financing activities Beginning cash balance or S320,000 110,000 140.000 90,000 What...
Current Attempt in Progress Presented below are data for Sunland Company 2020 $8848 4858 2021 $9728 Assets, January 1 Liabilities, January 1 Stockholders' Equity, Jan. 1 Dividends Common Stock Stockholders' Equity, Dec. 31 Net Income 1622 1454 ? 1915 1225 1302 ? 1289 Stockholders' Equity at January 1, 2021 is $3990. 0 $4283. O $5737. O $5905.
Cullumber Company's balance sheet at December 31, 2021, is presented below. Cullumber Company Balance Sheet December 31, 2021 Cash $13,300 Accounts payable $9,520 Accounts receivable 19,300 Common stock 19,900 Allowance for doubtful accounts (840) Retained earnings 11,430 Inventory 9,090 $40,850 $40,850 During January 2022, the following transactions occurred. Cullumber uses the perpetual inventory method. Jan. 1 Cullumber accepted a 4-month, 8% note from Betheny Company in payment of Betheny's $6,000 account. 3 Cullumber wrote off as uncollectible the accounts of...
On January 1, 2020, Cullumber Corporation had the following stockholders' equity accounts. Common Stock ($24 par value, 59,000 shares issued and outstanding) $1,416,000 Paid-in Capital in Excess of Par-Common Stock 197,000 Retained Earnings 559,000 During the year, the following transactions occurred. Feb. 1 Declared a $3 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split. Prior to the split, the...
Problem 14-01A a-c (Video) On January 1, 2020, Cullumber Corporation had the following stockholders' equity accounts. Common Stock ($24 par value, 59,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,416,000 197,000 559,000 During the year, the following transactions occurred. Feb. 1 Declared a $3 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split. Prior...
The following financial information is for Cullumber Company Cullumber Company Balance Sheets December 31 2020 2019 ASsels $ 70,000 $ 64,000 Cash Debt investments (short-term) 39,000 53,000 90,000 Accounts receivable 108,000 162,000 229,000 Inventory Prepaid expenses 25,000 30,000 130,000 Land 130,000 185,000 264,000 Building and equipment (net) $884,000 $695,000 Total assets Liabilities and Stockholders' Equity $172,000 $102,000 Notes payable 65,000 51,000 Accounts payable 41,000 41,000 Accrued liabilities 250,000 172,000 Bonds payable, due 2023 202,000 Common stock, $10 par 202,000 127,000...
*Problem 13-04A a1,b (Video) The following financial information is for Cullumber Company. Cullumber Company Balance Sheets December 31 Assets 2020 Cash $ 70,000 Debt investments (short-term) 53,000 Accounts receivable 108,000 Inventory 229,000 Prepaid expenses 30,000 Land 130,000 Building and equipment (net) 264,000 Total assets $884,000 Liabilities and Stockholders' Equity Notes payable $172,000 Accounts payable 65,000 Accrued liabilities 41,000 Bonds payable, due 2023 250,000 Common stock, $10 par 202,000 Retained earnings 154,000 2019 $ 64,000 39,000 90,000 162,000 25,000 130,000 185,000...
On January 1, 2020, Cullumber Corporation had the following stockholders' equity accounts. Common Stock (no per value, 93,000 shares issued and outstanding) $1,445,000 Retained Earnings 481,000 During the year, the following transactions occurred Feb. 1 Declared a $1 cash aividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February Apr. 1 Announced a 3-for-1 stock spit. Prior to the spit, the market price per share was $39 July 1...
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