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Problem 12-09A Your answer is partially correct. Try again. Condensed financial...
Problem 12-9A Your answer is partially correct. Try again. Condensed financial data of Vaughn Manufacturing follow...
Problem 12-9A Your answer is partially correct. Try again. Condensed financial data of Vaughn Manufacturing follow Vaughn Manufacturing Comparative Balance Sheets December 31 Assets 2017 2016 $109,080 $65,340 Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 51,300 138,848 35,100 147,150 118,530 151,875 38,340 186,300 384,750327,375 (67,500)(70,200) $921,375 $694,913 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock $ 137,700 22,275 148,500 297,000 315,900 $921,375 $90,855 28,350 197,100 236,250 142,358 $694,913 Retained...
Problem 12-09A Condensed financial data of Blue Spruce Corp. follow. Blue Spruce Corp. Comparative Balance Sheets...
Problem 12-09A Condensed financial data of Blue Spruce Corp. follow. Blue Spruce Corp. Comparative Balance Sheets December 31 Assets 2022 Cash $ 185,840 Accounts receivable 201,940 Inventory 258,750 Prepaid expenses 65,320 Long-term investments 317,400 Plant assets 655,500 Accumulated depreciation (115,000 ) Total $1,569,750 2021 $ 111,320 87,400 236,555 59,800 250,700 557,750 (119,600 ) $1,183,925 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings $ 234,600 37,950 253,000 506,000 538,200 $1,569,750 $ 154,790 48,300 335,800...
Need help please Exercise 12-06 Your answer is partially correct. Try again. The current sections of...
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Exercise 12-06 Your answer is partially correct. Try again. The current sections of Sage Hill Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Sage Hill Inc.'s net income for 2022 was $292,100. Depreciation expense was $48,300. 2022 2021 Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities $71,300 97,750 89,700 19,550 $278,300 $ 102,350 79,350 71,300 21,850 $274,850 $ 6,900 101,200...
Your answer is partially correct. Try again. Condensed financial data of Cheng Inc. follow. CHENG INC....
Your answer is partially correct. Try again. Condensed financial data of Cheng Inc. follow. CHENG INC. Comparative Balance Sheets December 31 Assets 2020 2019 Cash Accounts receivable Inventory Prepaid expenses Investments Equipment Accumulated depreciation-equipment Total $116,800 92,000 111,800 29,200 139,100 265,400 (47,900) $706,400 $48,100 32,300 102,000 25,200 113,000 242,300 (51,400) $511,500 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $ 111,600 16,300 112,600 220,100 245,800 $706,400 $68,000 17,100 149,000 176,000 101,400 $511,500...
Your answer is partially correct. Try again. The current sections of Monty Corp.'s balance sheets at...
Your answer is partially correct. Try again. The current sections of Monty Corp.'s balance sheets at December 31, 2021 and 2022, are presented here. Monty Corp.'s net income for 2022 was $406,400. Depreciation expense was $67,200. 2022 2021 $99,200 136,000 124,800 27,200 Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities $ 142,400 110,400 99,200 30,400 $382,400 $387,200 $ 9,600 140,800 $150,400 $ 25,600 115,200 $ 140,800 Prepare...
Exercise 16-8 Your answer is partially correct. Try again. Enos Printing Corp. uses a job order...
Exercise 16-8
Your answer is partially correct. Try again.
Enos Printing Corp. uses a job order cost system. The following
data summarize the operations related to the first quarter’s
production.
1.
Materials purchased on account $193,600, and factory wages
incurred $94,300.
2.
Materials requisitioned and factory labor used by job:
Job Number
Materials
Factory Labor
A20
$37,540
$19,300
A21
45,820
23,300
A22
37,300
17,100
A23
41,470
26,600
General factory use
4,770
8,000
$166,900
$94,300
3.
Manufacturing overhead costs incurred on...
Problem 17-09A Condensed financial data of Cheng Inc. follow. CHENG INC. Comparative Balance Sheets December 31...
Problem 17-09A Condensed financial data of Cheng Inc. follow. CHENG INC. Comparative Balance Sheets December 31 Assets 2020 2019 Cash $101,200 $48,300 Accounts receivable 92,700 32,200 Inventory 111,400 102,100 Prepaid expenses 29,600 25,900 Investments 140,800 113,400 Equipment 264,300 243,000 Accumulated depreciation-equipment (47,200 ) (51,800 ) Total $692,800 $513,100 Liabilities and Stockholders’ Equity Accounts payable $111,400 $68,000 Accrued expenses payable 16,100 17,400 Bonds payable 110,500 149,400 Common stock 219,400 174,200 Retained earnings 235,400 104,100 Total $692,800 $513,100 CHENG INC. Income Statement...
Exercise 18-13 Partially correct answer. Your answer is partially correct. Try again. The condensed financial statements...
Exercise 18-13 Partially correct answer. Your answer is partially correct. Try again. The condensed financial statements of Ness Company for the years 2019 and 2020 are presented below. Ness Company Balance Sheets December 31 (in thousands) 2020 2019 Current assets Cash and cash equivalents $330 $390 Accounts receivable (net) 440 430 Inventory 440 400 Prepaid expenses 150 180 Total current assets 1,360 1,400 Property, plant, and equipment (net) 430 400 Investments 1 10 Intangibles and other assets 530 560 Total...
Problem 17-09A Condensed financial data of Cheng Inc. follow. CHENG INC. Comparative Balance Sheets December 31...
Problem 17-09A Condensed financial data of Cheng Inc. follow. CHENG INC. Comparative Balance Sheets December 31 Assets 2020 Cash $118,000 Accounts receivable 91,600 Inventory 113,000 Prepaid expenses 29,400 Investments 141,000 Equipment 265,700 Accumulated depreciation equipment (46,000) Total $712,700 2019 $47,800 32,200 102,900 26,000 113,500 241,600 (51,400) $512,600 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $111,300 16,100 110,700 219,500 255,100 $712,700 $67,900 17,000 149,500 174,200 104,000 $512,600 $391,900 CHENG INC. Income Statement...
Problem 17-06A Your answer is partially correct. Try again. Zumbrunn Company's income statement contained the following...
Problem 17-06A Your answer is partially correct. Try again. Zumbrunn Company's income statement contained the following condensed information. $970,700 ZUMBRUNN COMPANY Income Statement For the Year Ended December 31, 2020 Service revenue Operating expenses, excluding depreciation $625,000 Depreciation expense 54,300 Loss on disposal of plant assets 25,200 Income before income taxes Income tax expense 704,500 266,200 39,700 Net income $226,500 Zumbrunn's balance sheets contained the comparative data at December 31, shown below. 2020 2019 Accounts receivable Accounts payable Income taxes...
Problem 12-9A Your answer is partially correct. Try again. Condensed financial data of Vaughn Manufacturing follow Vaughn Manufacturing Comparative Balance Sheets December 31 Assets 2017 2016 $109,080 $65,340 Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 51,300 138,848 35,100 147,150 118,530 151,875 38,340 186,300 384,750327,375 (67,500)(70,200) $921,375 $694,913 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock $ 137,700 22,275 148,500 297,000 315,900 $921,375 $90,855 28,350 197,100 236,250 142,358 $694,913 Retained...
Problem 12-09A Condensed financial data of Blue Spruce Corp. follow. Blue Spruce Corp. Comparative Balance Sheets December 31 Assets 2022 Cash $ 185,840 Accounts receivable 201,940 Inventory 258,750 Prepaid expenses 65,320 Long-term investments 317,400 Plant assets 655,500 Accumulated depreciation (115,000 ) Total $1,569,750 2021 $ 111,320 87,400 236,555 59,800 250,700 557,750 (119,600 ) $1,183,925 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings $ 234,600 37,950 253,000 506,000 538,200 $1,569,750 $ 154,790 48,300 335,800...
Need help please
Exercise 12-06 Your answer is partially correct. Try again. The current sections of Sage Hill Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Sage Hill Inc.'s net income for 2022 was $292,100. Depreciation expense was $48,300. 2022 2021 Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities $71,300 97,750 89,700 19,550 $278,300 $ 102,350 79,350 71,300 21,850 $274,850 $ 6,900 101,200...
Your answer is partially correct. Try again. Condensed financial data of Cheng Inc. follow. CHENG INC. Comparative Balance Sheets December 31 Assets 2020 2019 Cash Accounts receivable Inventory Prepaid expenses Investments Equipment Accumulated depreciation-equipment Total $116,800 92,000 111,800 29,200 139,100 265,400 (47,900) $706,400 $48,100 32,300 102,000 25,200 113,000 242,300 (51,400) $511,500 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $ 111,600 16,300 112,600 220,100 245,800 $706,400 $68,000 17,100 149,000 176,000 101,400 $511,500...
Your answer is partially correct. Try again. The current sections of Monty Corp.'s balance sheets at December 31, 2021 and 2022, are presented here. Monty Corp.'s net income for 2022 was $406,400. Depreciation expense was $67,200. 2022 2021 $99,200 136,000 124,800 27,200 Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities $ 142,400 110,400 99,200 30,400 $382,400 $387,200 $ 9,600 140,800 $150,400 $ 25,600 115,200 $ 140,800 Prepare...
Exercise 16-8
Your answer is partially correct. Try again.
Enos Printing Corp. uses a job order cost system. The following
data summarize the operations related to the first quarter’s
production.
1.
Materials purchased on account $193,600, and factory wages
incurred $94,300.
2.
Materials requisitioned and factory labor used by job:
Job Number
Materials
Factory Labor
A20
$37,540
$19,300
A21
45,820
23,300
A22
37,300
17,100
A23
41,470
26,600
General factory use
4,770
8,000
$166,900
$94,300
3.
Manufacturing overhead costs incurred on...
Problem 17-09A Condensed financial data of Cheng Inc. follow. CHENG INC. Comparative Balance Sheets December 31 Assets 2020 Cash $118,000 Accounts receivable 91,600 Inventory 113,000 Prepaid expenses 29,400 Investments 141,000 Equipment 265,700 Accumulated depreciation equipment (46,000) Total $712,700 2019 $47,800 32,200 102,900 26,000 113,500 241,600 (51,400) $512,600 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $111,300 16,100 110,700 219,500 255,100 $712,700 $67,900 17,000 149,500 174,200 104,000 $512,600 $391,900 CHENG INC. Income Statement...
Problem 17-06A Your answer is partially correct. Try again. Zumbrunn Company's income statement contained the following condensed information. $970,700 ZUMBRUNN COMPANY Income Statement For the Year Ended December 31, 2020 Service revenue Operating expenses, excluding depreciation $625,000 Depreciation expense 54,300 Loss on disposal of plant assets 25,200 Income before income taxes Income tax expense 704,500 266,200 39,700 Net income $226,500 Zumbrunn's balance sheets contained the comparative data at December 31, shown below. 2020 2019 Accounts receivable Accounts payable Income taxes...
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