Included in Adams Company’s December 31, 2020, trial balance are the following accounts: Accounts Payable $220,000,...
Included in Adams Company’s December 31, 2020, trial balance are the following accounts: Accounts Payable $220,000, Pension Liability $375,000, Discount on Bonds Payable $29,000, Unearned Rent Revenue $41,000, Bonds Payable $400,000, Salaries and Wages Payable $27,000, Interest Payable $12,000, and Income Taxes Payable $29,000. Prepare the current liabilities section of the balance sheet.
Homework Answers
| Current liabilty | |
| Accounts payable | 220000 |
| Unearned Rent Revenue | 41000 |
| Salaries and Wages Payable | 27000 |
| Interest Payable | 12000 |
| Income Taxes Payable | 29000 |
|
$329000 |
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Included in Adams Company’s December 31, 2020, trial balance are
the following accounts: Accounts Payable $220,000,...
Novak Corporation's adjusted trial balance contained the following liability accounts at December 31, 2020: Bonds Payable...
Novak Corporation's adjusted trial balance contained the following liability accounts at December 31, 2020: Bonds Payable (due in 3 years) $101.320. Accounts Payable $72,600, Notes Payable (due in 90 days) $27,270, Salaries and Wages Payable $5,850, and Income Taxes Payable $8,340. Prepare the current liabilities section of the balance sheet. NOVAK CORPORATION Balance Sheet (Partial)
Exercise 10-15 Marin Inc. reports the following liabilities (in thousands) on its January 31, 2017, balance sheet an...
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The adjusted trial balance of ABC includes the following accounts at December 31, 2020: Cash €12,000,...
The adjusted trial balance of ABC includes the following accounts at December 31, 2020: Cash €12,000, Owner's Capital €22,000, Owner's Drawing €3,000, Service Revenue €41,000, Rent Expense €900, Salaries and Wages Expense €6,000, Supplies Expense €700, and Depreciation Expense €1,800. Prepare an income statement.
The adjusted trial balance of ABC includes the following accounts at December 31, 2020: Cash €12,000,...
The adjusted trial balance of ABC includes the following accounts at December 31, 2020: Cash €12,000, Owner's Capital €22,000, Owner's Drawing €3,000, Service Revenue €41,000, Rent Expense €900, Salaries and Wages Expense €6,000, Supplies Expense €700, and Depreciation Expense €1,800. Prepare an income statement.
Presented here are liability items for Larkspur Inc at December 31, 2022. Accounts payable Notes payable...
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At December 31, 2019, the partial adjusted accounts for Ozark Ltd. included the following: Accounts payable...
At December 31, 2019, the partial adjusted accounts for Ozark Ltd. included the following: Accounts payable Accounts receivable Accumulated depr - Building Accumulated depr - Furniture AFDA Bank loan payable Building Cash Common shares Cost of goods sold (COGS) Dividends $40,000 $95,000 $35,000 $20,000 $9,000 $220,000 $150,000 $45,000 $38,000 $180,000 $10,000 Furniture Income tax expense Income taxes payable Insurance expense Inventory Land Prepaid expenses Retained earnings Salaries payable Unearned revenue Utilities $160,000 $4,000 $17,000 $6,000 $25,000 $370,000 $2,500 $? $3,000...
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At December 31, 2019, the partial adjusted accounts for Ozark Ltd. included the following: Accounts payable...
At December 31, 2019, the partial adjusted accounts for Ozark Ltd. included the following: Accounts payable Accounts receivable Accumulated depr - Building Accumulated depr - Furniture AFDA Bank loan payable Building Cash Common shares Cost of goods sold (COGS) Dividends $40,000 $95,000 $35,000 $20,000 $9,000 $220,000 $150,000 $45,000 $38,000 $180,000 $10,000 Furniture Income tax expense Income taxes payable Insurance expense Inventory Land Prepaid expenses Retained earnings Salaries payable Unearned revenue Utilities $160,000 $4,000 $17,000 $6,000 $25,000 $370,000 $2,500 $? $3,000...
______________________________________________________ Ensley, Inc. Adjusted Trial Balance December 31, 2020 Debit Credit Cash 83,050 Accounts Receivable 220,000...
______________________________________________________ Ensley, Inc. Adjusted Trial Balance December 31, 2020 Debit Credit Cash 83,050 Accounts Receivable 220,000 Prepaid Insurance 24,000 Supplies 2,700 Inventory 48,000 Equipment 160,000 Accumlated Depreciation- Equipment 30,000 Accounts Payable 159,500 Interest Payable 1,333 Wages Payable 500 Unearned Revenue - Alarm Systems 4,000 Long-Term Bank Note Payable 100,000 Common Stock 75,000 Retained Earnings 84,050 Dividends 7,000 Revenue 403,000 Cost of the Goods Sold 132,500 Depreciation Expense - Equipment 0 Insurance Expense 12,000 Interest Expense 1,333 Rent Expense 24,000 Supplies...
Adams Co. reports the following balance sheet accounts as of December 31. $ Salaries payable Buildings...
Adams Co. reports the following balance sheet accounts as of December 31. $ Salaries payable Buildings Prepaid rent Merchandise inventory Accounts payable Prepaid insurance Accounts receivable Common stock 6,000 Retained earnings 55,000 Notes payable (due in 9 years) 7,000 office supplies 14,000 Land 10,000 Accumulated depreciation-Building 3,000 Mortgages payable (due in 5 years) 4,000 Cash 10,000 $ 50,000 30,000 2,000 22,000 5,000 12,000 16,000 Required: Prepare a classified balance sheet. (Amounts to be deducted should be indicated by a minus...
Novak Corporation's adjusted trial balance contained the following liability accounts at December 31, 2020: Bonds Payable (due in 3 years) $101.320. Accounts Payable $72,600, Notes Payable (due in 90 days) $27,270, Salaries and Wages Payable $5,850, and Income Taxes Payable $8,340. Prepare the current liabilities section of the balance sheet. NOVAK CORPORATION Balance Sheet (Partial)
Exercise 10-15 Marin Inc. reports the following liabilities (in thousands) on its January 31, 2017, balance sheet and notes to the financial statements. $4,445.0 Mortgage payable 1,618.0 Operating leases 1,366.0 Notes payable (due in 2020) 2,102.0 Salaries and wages payable Accounts payable $6,750.0 2,493.0 Accrued pension liability Unearned rent revenue 360.0 590.0 Bonds payable Current portion of mortgage payable Income taxes payable 2,212.0 Notes payable (due in 2018) 278.0 Unused operating line of credit Warranty liability-current 2,985.0 3,500.0 1,911.0 Identify...
The adjusted trial balance of ABC includes the following accounts at December 31, 2020: Cash €12,000, Owner's Capital €22,000, Owner's Drawing €3,000, Service Revenue €41,000, Rent Expense €900, Salaries and Wages Expense €6,000, Supplies Expense €700, and Depreciation Expense €1,800. Prepare an income statement.
The adjusted trial balance of ABC includes the following accounts at December 31, 2020: Cash €12,000, Owner's Capital €22,000, Owner's Drawing €3,000, Service Revenue €41,000, Rent Expense €900, Salaries and Wages Expense €6,000, Supplies Expense €700, and Depreciation Expense €1,800. Prepare an income statement.
Presented here are liability items for Larkspur Inc at December 31, 2022. Accounts payable Notes payable (due May 1, 2023) Bonds payable (due 2026) Unearned rent revenue Discount on bonds payable $227.650 FICA taxes payable $11,310 29,000 Interest payable 58,000 1.305.000 Notes payable (due 2024) 116,000 348,000 Income taxes payable 5.075 59,450 Sales taxes payable 2,465 Prepare the liabilities section of Larkspur's balance sheet. LARKSPUR INC. Balance sheet (Partial)
At December 31, 2019, the partial adjusted accounts for Ozark Ltd. included the following: Accounts payable Accounts receivable Accumulated depr - Building Accumulated depr - Furniture AFDA Bank loan payable Building Cash Common shares Cost of goods sold (COGS) Dividends $40,000 $95,000 $35,000 $20,000 $9,000 $220,000 $150,000 $45,000 $38,000 $180,000 $10,000 Furniture Income tax expense Income taxes payable Insurance expense Inventory Land Prepaid expenses Retained earnings Salaries payable Unearned revenue Utilities $160,000 $4,000 $17,000 $6,000 $25,000 $370,000 $2,500 $? $3,000...
Exercise 10-15 Shamrock, Inc. reports the following liabilities (in thousands) on its January 31, 2017, balance sheet and notes to the financial statements. $7,006.0 2,135.0 393.0 Accounts payable $4,701.0 Mortgage payable Accrued pension liability 1,492.0 Operating leases Unearned rent revenue 1,758.0 Notes payable (due in 2020) Bonds payable 2,754.0 Salaries and wages payable Current portion of mortgage payable 2,114.0 Notes payable (due in 2018) Income taxes payable 308.0 Unused operating line of credit Warranty liability-current 634.0 2,799.0 4,092.0 1,839.0 Prepare...
At December 31, 2019, the partial adjusted accounts for Ozark Ltd. included the following: Accounts payable Accounts receivable Accumulated depr - Building Accumulated depr - Furniture AFDA Bank loan payable Building Cash Common shares Cost of goods sold (COGS) Dividends $40,000 $95,000 $35,000 $20,000 $9,000 $220,000 $150,000 $45,000 $38,000 $180,000 $10,000 Furniture Income tax expense Income taxes payable Insurance expense Inventory Land Prepaid expenses Retained earnings Salaries payable Unearned revenue Utilities $160,000 $4,000 $17,000 $6,000 $25,000 $370,000 $2,500 $? $3,000...
Adams Co. reports the following balance sheet accounts as of December 31. $ Salaries payable Buildings Prepaid rent Merchandise inventory Accounts payable Prepaid insurance Accounts receivable Common stock 6,000 Retained earnings 55,000 Notes payable (due in 9 years) 7,000 office supplies 14,000 Land 10,000 Accumulated depreciation-Building 3,000 Mortgages payable (due in 5 years) 4,000 Cash 10,000 $ 50,000 30,000 2,000 22,000 5,000 12,000 16,000 Required: Prepare a classified balance sheet. (Amounts to be deducted should be indicated by a minus...
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