Question 4
The assets (in thousands) that follow were taken from the December 31, 2015, balance sheet for Big Rock Brewery Inc.:
| Accounts receivable | $2,221 | Intangible assets | $456 | |||
| Accumulated depreciation—buildings | 1,817 | Inventories | 4,935 | |||
| Accumulated depreciation—machinery and equipment | 10,122 | Land | 8,377 | |||
| Accumulated depreciation—mobile equipment | 434 | Machinery and equipment | 24,860 | |||
| Accumulated depreciation—office furniture and equipment | 516 | Mobile equipment | 1,054 | |||
| Buildings | 17,692 | Office furniture and equipment | 1,286 | |||
| Cash | 540 | Prepaid expenses and other | 1,573 |
Prepare the assets section of the statement of financial position.
(List current assets in order of liquidity. List
Property, Plant, and Equipment in order of Land, Buildings,
Machinery and Equipment, Mobile Equipment, and Office Furniture.
Show all amounts in thousands of dollars.)
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Question 4 The assets (in thousands) that follow were taken from the December 31, 2015, balance...
These items are taken from the financial statements of Carla Vista Ltd. at December 31, 2018:...
These items are taken from the financial statements of Carla
Vista Ltd. at December 31, 2018: Accounts payable $22,050 Interest
expense $5,300 Accounts receivable 18,780 Interest payable 3,800
Accumulated depreciation—buildings 53,600 Land 185,970 Accumulated
depreciation—equipment 20,470 Long-term investments 30,970 Service
revenue 187,040 Mortgage payable 102,000 Buildings 137,800
Operating expenses 159,680 Cash 28,040 Prepaid insurance 1,400
Common shares 138,000 Retained earnings, January 1 118,520
Equipment 70,100 Supplies 1,840 Income tax expense 5,600
at $32,500 of the mortgage payable will be paid...
Runner Corporation reports the following selected accounts (in thousands) at December 31, 2018: Accounts payable $1,974...
Runner Corporation reports the following selected accounts (in thousands) at December 31, 2018: Accounts payable $1,974 Income tax receivable $89 Accounts receivable, gross 1,628 Interest revenue 109 Accumulated depreciation—buildings 952 Inventory 1,914 Accumulated depreciation—equipment 478 Land 1,047 Allowance for doubtful accounts 35 Notes receivable (current) 2,491 Bad debts expense 125 Notes receivable (non-current) 105 Buildings 2,734 Sales 12,717 Cash 568 Sales discounts 339 Cost of goods sold 9,769 Supplies 90 Equipment 755 Held for trading investments 186 Prepare the assets...
Question 4 At December 31, 2016, Grouper SA reported the following as plant assets. Land €...
Question 4
At December 31, 2016, Grouper SA reported the following as plant
assets.
Land
€ 2,866,000
Buildings
€29,773,000
Less: Accumulated depreciation-buildings
12,929,000
16,844,000
Equipment
39,084,000
Less: Accumulated depreciation-equipment
4,622,000
34,462,000
Total plant assets
€54,172,000
During 2017, the following selected cash transactions
occurred.
April 1
Purchased land for €2,458,000.
May 1
Sold equipment that cost €801,000 when purchased on January 1,
2013. The equipment was sold for €496,620.
June 1
Sold land purchased on June 1, 2007 for €1,880,000. The...
The December 31, 2021. post-closing trial balance ($ in thousands) for Libby Corporation is presented below:...
The December 31, 2021. post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Credits Debits 25,000 60,000 35,eee 6,888 7,eee 125,000 50,000 165,000 55,880 140, eee Cash Investments (long-term) Accounts receivable Allowance for uncollectible accounts Prepaid insurance Inventory Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Patents (unamortized balance) Accounts payable Notes payable, due 2022 Interest payable Bonds payable, due 2031 Common stock (no par), 26, Bee shares authorized, issued, and outstanding Retained earnings Totals 35,000 7,500 40,000...
The December 31, 2021, post-closing trial balance ($ in thousands) for Libby Corporation is presented below:...
The December 31, 2021, post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Credits Debits 27,500 65,000 40,000 8,500 4,000 150,000 55,000 190,000 60,000 Cash Investments (long-term) Accounts receivable Allowance for uncollectible accounts Prepaid insurance Inventory Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Patents (unamortized balance) ccounts payable Notes payable, due 2022 Interest payable Bonds payable, due 2031 Common stock (no par), 33,000 shares authorized, issued, and outstanding Retained earnings Totals 147,500 40,000 4,500 42,500 75,000...
Following is a trial balance (in thousands) showing the accounts of Beta Hospital at December 31,...
Following is a trial balance (in thousands) showing the accounts of Beta Hospital at December 31, 2019. Using the information from the trial balance, answer the following questions. Show the calculations used. What is number of days’ cash on hand? What is the number of days of revenue in net patient accounts receivable? How much is the excess of revenues over expenses? What is the operating margin? What is the long-term debt-to-equity ratio at year-end? What is the interest coverage...
Question 2 These items are taken from the financial statements of Bramble Corp. at December 31,...
Question 2 These items are taken from the financial statements of Bramble Corp. at December 31, 2017 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2017) Accumulated depreciation-buildings Accounts payable $110,032 13,104 3,328 12,314 85,696 63,648 811 5,512 2,704 62,400 41,600 47,424 9,880 97,344 Accumulated depreciation-equipment 19,469 3,744 15,288 Notes payable Interest payable Service revenue Prepare a classified balance sheet. Assume that $ 14,144 of the note payable...
The December 31, 2021, post-closing trial balance ($ In thousands) for Libby Corporation is presented below:...
The December 31, 2021, post-closing trial balance ($ In thousands) for Libby Corporation is presented below: Credits Debits 29, eee 68, eee 43,00 7,600 3.34 points 5,500 165, eee 58, 205, eee (8 01:04:33 63, eee 152,eee Cash Investments (long-term) Accounts receivable Allowance for uncollectible accounts Prepaid insurance Inventory Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Patents (unamortized balance) Accounts payable Notes payable, due 2022 Interest payable Bonds payable, due 2031 Common stock (no par), 32, eee shares authorized,...
Question 4 At December 31, 2016, Bonita Ltd. reported the following as plant assets. Land £...
Question 4
At December 31, 2016, Bonita Ltd. reported the following as plant
assets.
Land
£ 2,961,000
Buildings
£28,521,000
Less: Accumulated depreciation-buildings
11,791,000
16,730,000
Equipment
40,586,000
Less: Accumulated depreciation-equipment
5,383,000
35,203,000
Total plant assets
£54,894,000
During 2017, the following selected cash transactions
occurred.
Mar. 1
Purchased land for £2,052,000.
April 1
Sold equipment that cost £424,000 when purchased on January 1,
2013. The equipment was sold for £250,160.
June 1
Sold land purchased on June 1, 2007, for £1,533,000. The...
Question text Computing and Interpreting Percent Depreciated and PPE Turnover The following footnote is from Note...
Question text Computing and
Interpreting Percent Depreciated and PPE Turnover The following
footnote is from Note 8 to the 2018 of Tesla, Inc.: Note 8-
Property, Plant and Equipment Our property, plant and equipment,
net, consisted of the following (in thousands): 2018 2017
Machinery, equipment, vehicles and office furniture $ 6,328,966 $
4,251,711 Tooling 1,397,514 1,255,952 Leasehold improvements
960,971 789,751 Land and buildings 4,047,006 2,517,247 Computer
equipment, hardware and software 487,421 395,067 Construction in
progress 807,297 2,541,588 14,029,175 11,751,316 Less:...
These items are taken from the financial statements of Carla
Vista Ltd. at December 31, 2018: Accounts payable $22,050 Interest
expense $5,300 Accounts receivable 18,780 Interest payable 3,800
Accumulated depreciation—buildings 53,600 Land 185,970 Accumulated
depreciation—equipment 20,470 Long-term investments 30,970 Service
revenue 187,040 Mortgage payable 102,000 Buildings 137,800
Operating expenses 159,680 Cash 28,040 Prepaid insurance 1,400
Common shares 138,000 Retained earnings, January 1 118,520
Equipment 70,100 Supplies 1,840 Income tax expense 5,600
at $32,500 of the mortgage payable will be paid...
Question 4
At December 31, 2016, Grouper SA reported the following as plant
assets.
Land
€ 2,866,000
Buildings
€29,773,000
Less: Accumulated depreciation-buildings
12,929,000
16,844,000
Equipment
39,084,000
Less: Accumulated depreciation-equipment
4,622,000
34,462,000
Total plant assets
€54,172,000
During 2017, the following selected cash transactions
occurred.
April 1
Purchased land for €2,458,000.
May 1
Sold equipment that cost €801,000 when purchased on January 1,
2013. The equipment was sold for €496,620.
June 1
Sold land purchased on June 1, 2007 for €1,880,000. The...
The December 31, 2021. post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Credits Debits 25,000 60,000 35,eee 6,888 7,eee 125,000 50,000 165,000 55,880 140, eee Cash Investments (long-term) Accounts receivable Allowance for uncollectible accounts Prepaid insurance Inventory Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Patents (unamortized balance) Accounts payable Notes payable, due 2022 Interest payable Bonds payable, due 2031 Common stock (no par), 26, Bee shares authorized, issued, and outstanding Retained earnings Totals 35,000 7,500 40,000...
The December 31, 2021, post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Credits Debits 27,500 65,000 40,000 8,500 4,000 150,000 55,000 190,000 60,000 Cash Investments (long-term) Accounts receivable Allowance for uncollectible accounts Prepaid insurance Inventory Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Patents (unamortized balance) ccounts payable Notes payable, due 2022 Interest payable Bonds payable, due 2031 Common stock (no par), 33,000 shares authorized, issued, and outstanding Retained earnings Totals 147,500 40,000 4,500 42,500 75,000...
Question 2 These items are taken from the financial statements of Bramble Corp. at December 31, 2017 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2017) Accumulated depreciation-buildings Accounts payable $110,032 13,104 3,328 12,314 85,696 63,648 811 5,512 2,704 62,400 41,600 47,424 9,880 97,344 Accumulated depreciation-equipment 19,469 3,744 15,288 Notes payable Interest payable Service revenue Prepare a classified balance sheet. Assume that $ 14,144 of the note payable...
The December 31, 2021, post-closing trial balance ($ In thousands) for Libby Corporation is presented below: Credits Debits 29, eee 68, eee 43,00 7,600 3.34 points 5,500 165, eee 58, 205, eee (8 01:04:33 63, eee 152,eee Cash Investments (long-term) Accounts receivable Allowance for uncollectible accounts Prepaid insurance Inventory Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Patents (unamortized balance) Accounts payable Notes payable, due 2022 Interest payable Bonds payable, due 2031 Common stock (no par), 32, eee shares authorized,...
Question 4
At December 31, 2016, Bonita Ltd. reported the following as plant
assets.
Land
£ 2,961,000
Buildings
£28,521,000
Less: Accumulated depreciation-buildings
11,791,000
16,730,000
Equipment
40,586,000
Less: Accumulated depreciation-equipment
5,383,000
35,203,000
Total plant assets
£54,894,000
During 2017, the following selected cash transactions
occurred.
Mar. 1
Purchased land for £2,052,000.
April 1
Sold equipment that cost £424,000 when purchased on January 1,
2013. The equipment was sold for £250,160.
June 1
Sold land purchased on June 1, 2007, for £1,533,000. The...
Question text Computing and
Interpreting Percent Depreciated and PPE Turnover The following
footnote is from Note 8 to the 2018 of Tesla, Inc.: Note 8-
Property, Plant and Equipment Our property, plant and equipment,
net, consisted of the following (in thousands): 2018 2017
Machinery, equipment, vehicles and office furniture $ 6,328,966 $
4,251,711 Tooling 1,397,514 1,255,952 Leasehold improvements
960,971 789,751 Land and buildings 4,047,006 2,517,247 Computer
equipment, hardware and software 487,421 395,067 Construction in
progress 807,297 2,541,588 14,029,175 11,751,316 Less:...
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