Homework Answers
| Part 1 Ans > | Following is a list of (10) Balance Sheet accounts. | |||||
| (1) | Cash | |||||
| (2) | Account Receivable | |||||
| (3) | Invnetory | |||||
| (4) | Allowance for Doubtful accounts | |||||
| (5) | Held to Maturity securities (Mature in 4 Years) | |||||
| (6) | Trading Securities | |||||
| (7) | Land | |||||
| (8) | Building | |||||
| (9) | Copyright | |||||
| (10) | Accumulted depreiciation - Building | |||||
| Part 2 Ans > | Following is a list of (10) Balance Sheet accounts. | |||||
| (1) | Accounts Payable | |||||
| (2) | Bonds Paybale | |||||
| (3) | Discount on bonds payable | |||||
| (4) | Preferred Stock | |||||
| (5) | Common stock | |||||
| (6) | Paid in capital in excess of par - Preferred stock | |||||
| (7) | Paid in capital in excess of par - common stock | |||||
| (8) | Paid in capital in excess of par - stock options | |||||
| (9) | Retained earnings | |||||
| (10) | Treasury stock | |||||
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TEN- Following is a list of balance sheet accounts. Part One contains asset accounts and Part...
Chapter 5 The Classified Balance Sheet Below is an alphabetical list of Sunshine Rodriguez Company accounts...
Chapter 5 The Classified Balance Sheet Below is an alphabetical list of Sunshine Rodriguez Company accounts and balances on January 31, 2020. capital Stack Account Titles Accounts Payable Accounts Receivable Accumulated Depreciation, Buildings Accumulated Depreciation Equipment Accumulated Depreciatian, Machinery Allowance for Doubtful Accounts Bonds Payable (due in 5 years) Buildings Cash Common Stock ($2 par value) Discount on Bonds Payable Equipment Food Supplies FX Gain on Translation Land Land (held for future use) Long-Term Investments in Bonds Machinery Marketable Securities...
Create a classified balance sheet Problem 2 The following is a list of accounts in alphabetical...
Create a classified balance sheet
Problem 2 The following is a list of accounts in alphabetical order from the general ledger of Tara Corporation: Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation Equipment Allowance for Doubtful Accounts Bond Sinking Fund Bonds Payable, due in 2025 Building Cash Common Stock $1 par value Copyright Current Portion of Long-term Debt Deferred Rent Revenue Dividends Payable Equipment Goodwill Income Taxes Payable Inventory Land Land Held for a Future Plant Site Notes Payable, due...
Balance Sheet Preparation The December 31, 2016, balance sheet accounts of Hitt Company are shown here...
Balance Sheet Preparation The December 31, 2016, balance sheet accounts of Hitt Company are shown here in alphabetical order: Accounts Payable $22,400 Equipment $72,400 Accounts Receivable 21,500 Inventory 37,200 Accumulated Depreciation: Buildings 53,000 Land 30,000 Accumulated Depreciation: Equipment 35,100 Marketable Securities (short-term) 6,100 Additional Paid-in Capital on Common Stock 24,000 Patents (net) 9,800 Additional Paid-in Capital on Preferred Stock 11,500 Preferred Stock, $100 par 21,000 Allowance for Doubtful Accounts 800 Retained Earnings 46,200 Bonds Payable (due 2024) 77,000 Revenues 107,000...
E5.3 (LO 1, 2) (Classification of Balance Sheet Accounts) Assume that Fielder Enterprises uses the following...
E5.3 (LO 1, 2) (Classification of Balance Sheet Accounts) Assume that Fielder Enterprises uses the following headings on its balance sheet. a. Current assets. g. Long-term liabilities. b. Investments h. Capital stock c. Property, plant, and equipment. i. Equity attributed to noncontrolling interest. d. Intangible assets. j. Paid-in capital in excess of par. e. Other assets. k. Retained earnings. f. Current liabilities. Instructions Indicate by letter how each of the following usually should be classified. If an item should appear...
Problem 1 Listed here are items taken from the balance sheet of Medical Electronics, Inc. for...
Problem 1 Listed here are items taken from the balance sheet of Medical Electronics, Inc. for the year ended December 31, 2018. Prepare a properly classified and labeled balance sheet statement using the items listed below. See textbook, pages 29 – 31 and 46 - 47. Accumulated depreciation............................. $155,000 Retained earnings.................................... 142,000 Cash................................................. 6,000 Bonds payable........................................ 152,000 Accounts receivable.................................. 95,000 Plant and equipment—original cost.................... 345,000 Accruals……………………………………………………. 30,000 Accounts payable..................................... 15,000 Allowance for bad debts.............................. 5,000 Common stock, $1 par, 50,000...
Arrange the following items in proper balance sheet presentation: (Amounts to be deducted should be indicated...
Arrange the following items in proper balance sheet presentation: (Amounts to be deducted should be indicated with parentheses or a minus sign.) Accumulated depreciation $ 367,000 Retained earnings 20,000 Cash 10,000 Bonds payable 159,000 Accounts receivable 48,000 Plant and equipment—original cost 701,000 Accounts payable 42,000 Allowance for bad debts 6,000 Common stock, $1 par, 100,000 shares outstanding 100,000 Inventory 73,000 Preferred stock, $57 par, 1,000 shares outstanding 57,000 Marketable securities 20,000 Investments 22,000 Notes payable 33,000 Capital paid in excess...
Retained earnings and balance sheet data: Accounts payable $194,300 Accounts receivable 545,000 Accumulated depreciation—office buildings and equipment...
Retained earnings and balance sheet data: Accounts payable $194,300 Accounts receivable 545,000 Accumulated depreciation—office buildings and equipment 1,580,000 Accumulated depreciation—store buildings and equipment 4,126,000 Allowance for doubtful accounts 8,450 Bonds payable, 5%, due in 10 years 500,000 Cash 282,850 Common stock, $20 par (400,000 shares authorized; 85,000 shares issued, 94,600 outstanding), January 1, 20Y8 1,700,000 Dividends: Cash dividends for common stock 155,120 Cash dividends for preferred stock 100,000 Goodwill 700,000 Income tax payable 44,000 Interest receivable 1,200 Inventory (December 31, 20Y8), at lower...
Balance Sheet Problem Example: Comet Inc. reported the following assets, liabilities, and stockholders' equity accounts for...
Balance Sheet Problem Example: Comet Inc. reported the following assets, liabilities, and stockholders' equity accounts for the year ended December 31, 2019: Wages payable $ 70,000 Prepaid insurance 25,000 Accounts receivable 88,000 Common stock 625,000 Cash 55,000 Inventory 82,000 Buildings 750,000 Accounts payable 130,000 Long-term notes payable 250,000 Paid-in capital in excess of par value 25,000 Accumulated depreciation, building 50,000 Land 550,000 Retained earnings 400,000 Required: Prepare a classified balance sheet in good form.
Classifying Balance Sheet Accounts Use the letters a to k from the balance sheet classifications provided...
Classifying Balance Sheet Accounts Use the letters a to k from the balance sheet classifications provided below to indicate the usual classification for each of the 22 balance sheet items listed below. Also indicate whether an account is a contra account. If the item is not a contra account, select "N/A" as your answer.. Balance Sheet Classification a. Current assets. g. Long-term liabilities. b. Investments. h. Paid-in capital. c. Property, plant, and equipment. i. Retained earnings. d. Intangible assets. j....
8. Javelina Publications balance sheet accounts as of December 31, 2019 are listed below. Prepare a...
8. Javelina Publications balance sheet accounts as of December 31, 2019 are listed below. Prepare a properly classified balance sheet as of December 31, 2019 Land Sinking fund for bond retirement Discount on bonds payable Equipment Preferred Stock, $100 par Accumulated depreciation, buildings Investment in bonds held to maturity Accrued Wages Additional paid in capital, common Buildings Bond Payable (due 2025) Office supplies Retained earnings Inventory Account receivable Account payable Prepaid insurance Common Stock, $10 par Allowance for doubtful accounts...
Chapter 5 The Classified Balance Sheet Below is an alphabetical list of Sunshine Rodriguez Company accounts and balances on January 31, 2020. capital Stack Account Titles Accounts Payable Accounts Receivable Accumulated Depreciation, Buildings Accumulated Depreciation Equipment Accumulated Depreciatian, Machinery Allowance for Doubtful Accounts Bonds Payable (due in 5 years) Buildings Cash Common Stock ($2 par value) Discount on Bonds Payable Equipment Food Supplies FX Gain on Translation Land Land (held for future use) Long-Term Investments in Bonds Machinery Marketable Securities...
Create a classified balance sheet
Problem 2 The following is a list of accounts in alphabetical order from the general ledger of Tara Corporation: Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation Equipment Allowance for Doubtful Accounts Bond Sinking Fund Bonds Payable, due in 2025 Building Cash Common Stock $1 par value Copyright Current Portion of Long-term Debt Deferred Rent Revenue Dividends Payable Equipment Goodwill Income Taxes Payable Inventory Land Land Held for a Future Plant Site Notes Payable, due...
E5.3 (LO 1, 2) (Classification of Balance Sheet Accounts) Assume that Fielder Enterprises uses the following headings on its balance sheet. a. Current assets. g. Long-term liabilities. b. Investments h. Capital stock c. Property, plant, and equipment. i. Equity attributed to noncontrolling interest. d. Intangible assets. j. Paid-in capital in excess of par. e. Other assets. k. Retained earnings. f. Current liabilities. Instructions Indicate by letter how each of the following usually should be classified. If an item should appear...
Balance Sheet Problem Example: Comet Inc. reported the following assets, liabilities, and stockholders' equity accounts for the year ended December 31, 2019: Wages payable $ 70,000 Prepaid insurance 25,000 Accounts receivable 88,000 Common stock 625,000 Cash 55,000 Inventory 82,000 Buildings 750,000 Accounts payable 130,000 Long-term notes payable 250,000 Paid-in capital in excess of par value 25,000 Accumulated depreciation, building 50,000 Land 550,000 Retained earnings 400,000 Required: Prepare a classified balance sheet in good form.
Classifying Balance Sheet Accounts Use the letters a to k from the balance sheet classifications provided below to indicate the usual classification for each of the 22 balance sheet items listed below. Also indicate whether an account is a contra account. If the item is not a contra account, select "N/A" as your answer.. Balance Sheet Classification a. Current assets. g. Long-term liabilities. b. Investments. h. Paid-in capital. c. Property, plant, and equipment. i. Retained earnings. d. Intangible assets. j....
8. Javelina Publications balance sheet accounts as of December 31, 2019 are listed below. Prepare a properly classified balance sheet as of December 31, 2019 Land Sinking fund for bond retirement Discount on bonds payable Equipment Preferred Stock, $100 par Accumulated depreciation, buildings Investment in bonds held to maturity Accrued Wages Additional paid in capital, common Buildings Bond Payable (due 2025) Office supplies Retained earnings Inventory Account receivable Account payable Prepaid insurance Common Stock, $10 par Allowance for doubtful accounts...
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