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 of par (common stock) 90,000
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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...
Arrange the following items in proper balance sheet presentation: (Amounts to be deducted should be indicated with parentheses or a minus sign.) Accumulated depreciation $ 391,000 Retained earnings 35,000 Cash 19,000 Bonds payable 174,000 Accounts receivable 49,000 Plant and equipment—original cost 741,000 Accounts payable 37,000 Allowance for bad debts 6,000 Common stock, $1 par, 100,000 shares outstanding 100,000 Inventory 68,000 Preferred stock, $54 par, 1,000 shares outstanding 54,000 Marketable securities 21,000 Investments 27,000 Notes payable 36,000 Capital paid in...
2. a. Arrange the following items in proper balance sheet format Cash .......... range the following...
2. a. Arrange the following items in proper balance sheet
format
Cash .......... range the following items in a proper balance sheet format: .......... $300,000 Accumulated depreciation.............. .......... 98,000 Retained earning.................. ..................20,000 ................136,000 Bond payable ......... ............. ....... ..................50,000 Account receivable ......................... 690,000 Plant and equipment - original cost ........... Account Payable .......... . ........35,000 Allowance for bad debts.......... .............8,000 Common stock, $1 par, 100,000 shares outstanding.. ................ 100,000 Inventory ........... 70,000 Preferred stock, $50 par, 1,000 shares outstanding ..............50,000...
Arrange the following items in proper balance sheet presentation: (Be sure to list the assets in...
Arrange the following items in proper balance sheet presentation: (Be sure to list the assets in order of their liquidity. Input all answers as positive values.) $210,000 208.100 10,000 136,000 49,500 680.000 Accumulated amortization Retained earnings Cash Bonds payable Accounts receivable Plant and equipment-original cost Accounts payable Allowance for bad debts Common stock, 100,000 shares outstanding Inventory Preferred stock, 1.000 shares outstanding Marketable securities Investments Notes payable 55,000 Balance Sheet Assets Current Assets: Click to select) Click to select) Click...
1. Stein Books Inc. sold 2,300 finance textbooks for $220 each to High Tuition University in...
1. Stein Books Inc. sold 2,300 finance textbooks for $220 each to High Tuition University in 20X1. These books cost $200 to produce. Stein Books spent $12,500 (selling expense) to convince the university to buy its books. Depreciation expense for the year was $15,800. In addition, Stein Books borrowed $100,000 on January 1, 20X1, on which the company paid 14 percent interest. Both the interest and principal of the loan were paid on December 31, 20X1. The publishing firm’s tax...
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...
Stockholders’ Equity: Transactions and Balance Sheet Presentation The stockholders’ equity of Summit Corporation at January 1...
Stockholders’ Equity: Transactions and Balance Sheet Presentation The stockholders’ equity of Summit Corporation at January 1 follows: 7 Percent preferred stock, $100 par value, 20,000 shares authorized; 5,000 shares issued and outstanding $500,000 Common stock, $15 par value, 100,000 shares authorized; 40,000 shares issued and outstanding 600,000 Paid-in capital in excess of par value-Preferred stock 24,000 Paid-in capital in excess of par value-Common stock 360,000 Retained earnings 325,000 Total Stockholders' Equity $1,809,000 The following transactions, among others, occurred during the...
Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity of Summit Corporation at January 1...
Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity of Summit Corporation at January 1 follows: 7 Percent preferred stock, $100 par value, 20,000 shares authorized: 5,000 shares issued and outstanding $500,000 Common stock, $15 par value, 100,000 shares authorized; 40,000 shares issued and outstanding 600,000 Paid-in capital in excess of par value-Preferred stock 24,000 Paid-in capital in excess of par value-Common stock 360,000 Retained earnings 325,000 Total Stockholders' Equity $1,809,000 The following transactions, among others, occurred during the...
The following is the balance sheet of Rubber Industries RUBBER INDUSTRIES Balance Sheet For the Year...
The following is the balance sheet of Rubber Industries RUBBER INDUSTRIES Balance Sheet For the Year Ended December 31, 2012 Assets Current assets: Cash Marketable equity securities Accounts receivable, net Inventory Treasury stock $ 50,000 19,000 60,000 30,000 20,000 $179,000 Total current assets Land and buildings, net Short-term U.S. notes Plant assets 160,000 20,000 4,000 Investments Other assets: Supplies Total assets Liabilities and Stockholders' Equity Liabilities Bonds payable Accounts payable Wages payable $123,000 40,000 10,000 Total liabilities Stockholders' equity: Common...
Accumulated amortization $270,000 Retained earnings 164,700 Cash 16,000 Bonds payable 136,000 Accounts receivable 55,500 Plant and...
Accumulated amortization $270,000 Retained earnings 164,700 Cash 16,000 Bonds payable 136,000 Accounts receivable 55,500 Plant and equipment—original cost 740,000 Accounts payable 50,000 Allowance for bad debts 6,800 Common stock, 100,000 shares outstanding 188,000 Inventory 81,000 Preferred stock, 1,000 shares outstanding 75,000 Marketable securities 20,000 Investments 26,000 Notes payable (6 months) 48,000 Balance Sheet Assets Liabilities and Shareholders’ Equity Current Assets: Current Liabilities: (Click to select) Cash Plant and equipment Investments Accumulated amortization Accounts payable $ (Click to select) Cash Marketable securities Accounts payable Bonds payable $ (Click to...
Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity of Summit Corporation at January 1...
Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity of Summit Corporation at January 1 follows: 7 Percent preferred stock, $100 par value, 20,000 shares authorized; 5,000 shares issued and outstanding $500,000 Common stock, $15 par value, 100,000 shares authorized; 40,000 shares issued and outstanding 600,000 Paid-in capital in excess of par value-Preferred stock 24,000 Paid-in capital in excess of par value-Common stock 360,000 Retained earnings 325,000 Total Stockholders' Equity $1,809,000 The following transactions, among others, occurred during the...
2. a. Arrange the following items in proper balance sheet
format
Cash .......... range the following items in a proper balance sheet format: .......... $300,000 Accumulated depreciation.............. .......... 98,000 Retained earning.................. ..................20,000 ................136,000 Bond payable ......... ............. ....... ..................50,000 Account receivable ......................... 690,000 Plant and equipment - original cost ........... Account Payable .......... . ........35,000 Allowance for bad debts.......... .............8,000 Common stock, $1 par, 100,000 shares outstanding.. ................ 100,000 Inventory ........... 70,000 Preferred stock, $50 par, 1,000 shares outstanding ..............50,000...
Arrange the following items in proper balance sheet presentation: (Be sure to list the assets in order of their liquidity. Input all answers as positive values.) $210,000 208.100 10,000 136,000 49,500 680.000 Accumulated amortization Retained earnings Cash Bonds payable Accounts receivable Plant and equipment-original cost Accounts payable Allowance for bad debts Common stock, 100,000 shares outstanding Inventory Preferred stock, 1.000 shares outstanding Marketable securities Investments Notes payable 55,000 Balance Sheet Assets Current Assets: Click to select) Click to select) Click...
Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity of Summit Corporation at January 1 follows: 7 Percent preferred stock, $100 par value, 20,000 shares authorized: 5,000 shares issued and outstanding $500,000 Common stock, $15 par value, 100,000 shares authorized; 40,000 shares issued and outstanding 600,000 Paid-in capital in excess of par value-Preferred stock 24,000 Paid-in capital in excess of par value-Common stock 360,000 Retained earnings 325,000 Total Stockholders' Equity $1,809,000 The following transactions, among others, occurred during the...
The following is the balance sheet of Rubber Industries RUBBER INDUSTRIES Balance Sheet For the Year Ended December 31, 2012 Assets Current assets: Cash Marketable equity securities Accounts receivable, net Inventory Treasury stock $ 50,000 19,000 60,000 30,000 20,000 $179,000 Total current assets Land and buildings, net Short-term U.S. notes Plant assets 160,000 20,000 4,000 Investments Other assets: Supplies Total assets Liabilities and Stockholders' Equity Liabilities Bonds payable Accounts payable Wages payable $123,000 40,000 10,000 Total liabilities Stockholders' equity: Common...
Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity of Summit Corporation at January 1 follows: 7 Percent preferred stock, $100 par value, 20,000 shares authorized; 5,000 shares issued and outstanding $500,000 Common stock, $15 par value, 100,000 shares authorized; 40,000 shares issued and outstanding 600,000 Paid-in capital in excess of par value-Preferred stock 24,000 Paid-in capital in excess of par value-Common stock 360,000 Retained earnings 325,000 Total Stockholders' Equity $1,809,000 The following transactions, among others, occurred during the...
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