Preparing a Classified Balance Sheet The following financial data for the Marshall Corporation was collected as...
Preparing a Classified Balance Sheet The following financial data for the Marshall Corporation was collected as of December 31, 2016. All accounts have normal balances.
Furniture & Equipment $107,000
Accumulated Depreciation $48,800
Cash 50,400
Accounts Receivable 95,200
Common Stock 190,000
Accounts Payable 18,400
Prepaid Insurance 300
Inventory 93,000
Retained Earnings ?
Required Prepare a classified balance sheet as of December 31, 2016. (Do not use negative signs with your answers).
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Preparing a Classified Balance Sheet The following financial
data for the Marshall Corporation was collected as...
Preparing a Classified Balance Sheet The following financial data for the Revel Corporation was collected as...
Preparing a Classified Balance Sheet The following financial data for the Revel Corporation was collected as of December 31. All accounts have normal balances. Furniture & Equipment $107,000 Accumulated Depreciation $48,800 Cash 61,000 Accounts Receivable 95,200 Common Stock 190,000 Accounts Payable 19,200 Prepaid Insurance 300 Inventory 93,000 Retained Earnings Required Prepare a classified balance sheet as of December 31. Note: Do not use negative signs with your answers. REVEL CORPORATION Balance Sheet December 31 Assets Current Assets: Inventory Total Current...
Preparing a Classified Balance Sheet The following financial data for the Revel Corporation was collected as...
Preparing a Classified Balance Sheet The following financial data for the Revel Corporation was collected as of December 31. All accounts have normal balances. Furniture & Equipment $107,000 Accumulated Depreciation $48,800 Cash 61,000 Accounts Receivable 95,200 Common Stock 190,000 Accounts Payable 19,200 Prepaid Insurance 300 Inventory 93,000 Retained Earnings Required Prepare a classified balance sheet as of December 31. Note: Do not use negative signs with your answers. REVEL CORPORATION Balance Sheet December 31 Assets Current Assets: Inventory Total Current...
Preparing a Classified Balance Sheet The following financial data for the Marshall Corporation was collected as...
Preparing a Classified Balance Sheet The following financial data for the Marshall Corporation was collected as of December 31, 2013. All accounts have normal balances. Furniture & Equipment $100,000 Accumulated Depreciation $41,800 Cash 49,400 Accounts Receivable 98,200 Common Stock 203,000 Accounts Payable 20,400 Prepaid Insurance 3,300 Inventory 93,000 Retained Earnings Required Prepare a classified balance sheet as of December 31, 2013. Note: Do not use negative signs with your answers. MARSHALL CORPORATION Balance Sheet December 31,2013 Assets Current Assets: Inventory...
The following financal data for the Marshall Corporation was collected as of Dec 31, 2013. ALL...
The following financal data for the Marshall Corporation was collected as of Dec 31, 2013. ALL OCCOUDTS none normal balances. Furniture Equement J 100,000 Acum. Depreciation 841,800 49,400 Accounts recievable 98,200 Common stock 203,000 Accounts payable 20,400 Prepaid insurance 13,300 inventory 193,000 Ratold tonings ? *Prepare a classified balance sheet as of Dec 31, 2013 pote > do not use neg. sign with answers
Preparing a Classified Balance Sheet Prepare a classified balance sheet given the following account balances on...
Preparing a Classified Balance Sheet Prepare a classified balance sheet given the following account balances on December 31, 2020. Next, compute working capital on that same date. Note: Other than cash, list items in each balance sheet category in the order of the largest dollar amount to the smallest dollar amount. cash 1,000 accounts receivable 30,000 inventory 1,250 franchise 17,500 prepaid insurance 600 common stock (no par, 10,000 shares issued and outstanding) 25,000 accounts payable 31,000 notes payable (long-term) 35,000...
Preparing a Classified Balance Sheet The following balances are from the post-closing trial balance of Armour...
Preparing a Classified Balance Sheet The following balances are from the post-closing trial balance of Armour Inc. Cash. $9,600 debit Acc. rec. 39,000. debit Allowance for doubtful acc. 4,500. credit inventory 54,000 debit prepaid insurance 720 debit short term investments 16,800 debit equipment 60,000 debit accumulated depreciation - equipment 12,000 credit accumulated depreciation- buildings 4,500 credit Goodwill 18,180 debit accounts payable 27,000 credit salaries payable 3,000 credit interest payable 900 credit income tax payable 5,400 credit notes payable 8%, 5...
Question#6-Financial Statements-asmarks) Using the following information prepare a Classified Balance Sheet for Baird Services for the...
Question#6-Financial Statements-asmarks) Using the following information prepare a Classified Balance Sheet for Baird Services for the year ending December 31, 2016. The accounts are in random order and have normal balances. lances are after adjustments. Use the next page for your answer. Accumulated amortization- building Salaries payable Service Revenue Accounts payable Land Accounts receivable Amortization expense- building $152 18 244 38 Office expenses Mortgage payable (due 31/12/2019) 112 Accumulated amortization -furniture & fixtures 60 248 24 60 40 8 16...
Preparing a Classified Balance Sheet From the following accounts, listed in alphabetical order, prepare a classified...
Preparing a Classified Balance Sheet From the following accounts, listed in alphabetical order, prepare a classified balance sheet for Oakland Wholesalers as of December 31. All accounts have normal balances. Accounts Payable Accounts Receivable $50,000 Inventory 40,000 Land 67,000 Mortgage Payable (long term) 28,000 Office Supplies 120,000 Retained Earnings Salaries Payable $117,000 39,000 79,000 1,000 Building Cash Common Stock ? 7,000
Exercise 4-16 Preparing a classified balance sheet for a merchandiser LO P4 Adams Co. reports the...
Exercise 4-16 Preparing a classified balance sheet for a merchandiser LO P4 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 8. Bee Retained earnings 87,eee Notes payable (due in 9 years) 9,eee office supplies 18,888 Land 30,eee Accumulated depreciation-Building 7,000 Mortgages payable (due in 5 years) 24,000 Cash 30,eee 79, eee 7e,eee 6, eee 62,eee 9, eee 52,888 56. eee Required:...
:: M Multi-step Income Statements The adjusted trial balance of Marshall Corporation on December 31, 2013...
:: M Multi-step Income Statements The adjusted trial balance of Marshall Corporation on December 31, 2013 is shown below. MARSHALL CORPORATION Adjusted Trial Balance December 31, 2013 Debit Credit Cash $83.520 Accounts Receivable 171,360 Inventory 156,600 Prepaid Insurance 540 Furniture & Fixtures 57,600 Accumulated Depreciation - furniture & fixtures $12,240 Delivery equipment 117,000 Accumulated depreciation - delivery equip. $57,600 Accounts Payable 31,320 Common Stock 360,000 Retained Earnings 107,280 Sales Revenue 657,360 Cost of Goods Sold 386,640 Salaries Expense 165,600 Rent...
Preparing a Classified Balance Sheet The following financial data for the Revel Corporation was collected as of December 31. All accounts have normal balances. Furniture & Equipment $107,000 Accumulated Depreciation $48,800 Cash 61,000 Accounts Receivable 95,200 Common Stock 190,000 Accounts Payable 19,200 Prepaid Insurance 300 Inventory 93,000 Retained Earnings Required Prepare a classified balance sheet as of December 31. Note: Do not use negative signs with your answers. REVEL CORPORATION Balance Sheet December 31 Assets Current Assets: Inventory Total Current...
Preparing a Classified Balance Sheet The following financial data for the Revel Corporation was collected as of December 31. All accounts have normal balances. Furniture & Equipment $107,000 Accumulated Depreciation $48,800 Cash 61,000 Accounts Receivable 95,200 Common Stock 190,000 Accounts Payable 19,200 Prepaid Insurance 300 Inventory 93,000 Retained Earnings Required Prepare a classified balance sheet as of December 31. Note: Do not use negative signs with your answers. REVEL CORPORATION Balance Sheet December 31 Assets Current Assets: Inventory Total Current...
Preparing a Classified Balance Sheet The following financial data for the Marshall Corporation was collected as of December 31, 2013. All accounts have normal balances. Furniture & Equipment $100,000 Accumulated Depreciation $41,800 Cash 49,400 Accounts Receivable 98,200 Common Stock 203,000 Accounts Payable 20,400 Prepaid Insurance 3,300 Inventory 93,000 Retained Earnings Required Prepare a classified balance sheet as of December 31, 2013. Note: Do not use negative signs with your answers. MARSHALL CORPORATION Balance Sheet December 31,2013 Assets Current Assets: Inventory...
The following financal data for the Marshall Corporation was collected as of Dec 31, 2013. ALL OCCOUDTS none normal balances. Furniture Equement J 100,000 Acum. Depreciation 841,800 49,400 Accounts recievable 98,200 Common stock 203,000 Accounts payable 20,400 Prepaid insurance 13,300 inventory 193,000 Ratold tonings ? *Prepare a classified balance sheet as of Dec 31, 2013 pote > do not use neg. sign with answers
Question#6-Financial Statements-asmarks) Using the following information prepare a Classified Balance Sheet for Baird Services for the year ending December 31, 2016. The accounts are in random order and have normal balances. lances are after adjustments. Use the next page for your answer. Accumulated amortization- building Salaries payable Service Revenue Accounts payable Land Accounts receivable Amortization expense- building $152 18 244 38 Office expenses Mortgage payable (due 31/12/2019) 112 Accumulated amortization -furniture & fixtures 60 248 24 60 40 8 16...
Preparing a Classified Balance Sheet From the following accounts, listed in alphabetical order, prepare a classified balance sheet for Oakland Wholesalers as of December 31. All accounts have normal balances. Accounts Payable Accounts Receivable $50,000 Inventory 40,000 Land 67,000 Mortgage Payable (long term) 28,000 Office Supplies 120,000 Retained Earnings Salaries Payable $117,000 39,000 79,000 1,000 Building Cash Common Stock ? 7,000
Exercise 4-16 Preparing a classified balance sheet for a merchandiser LO P4 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 8. Bee Retained earnings 87,eee Notes payable (due in 9 years) 9,eee office supplies 18,888 Land 30,eee Accumulated depreciation-Building 7,000 Mortgages payable (due in 5 years) 24,000 Cash 30,eee 79, eee 7e,eee 6, eee 62,eee 9, eee 52,888 56. eee Required:...
:: M Multi-step Income Statements The adjusted trial balance of Marshall Corporation on December 31, 2013 is shown below. MARSHALL CORPORATION Adjusted Trial Balance December 31, 2013 Debit Credit Cash $83.520 Accounts Receivable 171,360 Inventory 156,600 Prepaid Insurance 540 Furniture & Fixtures 57,600 Accumulated Depreciation - furniture & fixtures $12,240 Delivery equipment 117,000 Accumulated depreciation - delivery equip. $57,600 Accounts Payable 31,320 Common Stock 360,000 Retained Earnings 107,280 Sales Revenue 657,360 Cost of Goods Sold 386,640 Salaries Expense 165,600 Rent...
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