asap Voiculdton Cash 11,000 1,500 1,200 800 5,000 400 900 1,400 Acrunts Receivable Supplies Prepaid Insurance Delivery Equipment Accum. Depr.-Delivery Equip. Accounts Payable Wages Payable Carlos Perez, Capital Carlos Perez, Drawing Delivery Fees Wages Expense Rent Expense Supplies Expense Telephone Expense Electricity Expense 15,600 1,500 6,400 880 1,100 220 175 320 Insurance Expense 550 Depr. Exp.-Delivery Equip. 400 Miscellaneous Expense...
Exercise 3-5 (Algo) Balance sheet preparation [LO3-2, 3-3] The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation Credits Debit 40.000 86.000 111,000 25.000 74.000 150.000 375.000 115.000 105,000 Account Title Cash Accounts receivable Inventory Interest payable Investment an equity securities Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Copyright (net) Prepaid expenses...
ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2016 2015 Net sales (all on account) $1,238,000 $1,006,000 Expenses: Cost of goods sold $826,000 $706,000 Selling and administrative 208,000 218,000 Interest expense 14,000 12,000 Income tax expense 35,000 23,000 Total expenses...
Following are the transactions of JonesSpa Corporation, for the month of January a. Borrowed $21,000 from a local bank. b. Lent $7,700 to an affiliate; accepted a note due in one year. c. Sold to investors 110 additional shares of stock with a par value of $0.10 per share and a market price of $30 per share; received cash. d....
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash $ 48,000 Accounts receivable 438,750 Raw materials inventory 87,900 Finished goods inventory 383,760 Total current assets 958,410 Equipment, gross 616,000 Accumulated depreciation (158,000 ) Equipment, net 458,000 Total assets $ 1,416,410 Liabilities and Equity Accounts payable...
Brief Exercise 7-10 Sheridan Incorporated factored $163,900 of accounts receivable with Skysong Factors Inc. on a without-recourse basis. Skysong assesses a 2% finance charge of the amount of accounts receivable and retains an amount equal to 6% of accounts receivable for possible adjustments. Prepare the journal entry for Sheridan Incorporated and Skysong Factors to record the factoring of the accounts...
avis Company has the following accounts and balances at the end of the year: Cash, $1,200 Accounts Receivable, $280 Office Equipment, $3,000 Accounts Payable, $1,400 Income from Services, $3,500 Rent Expense, $670 Salaries Expense, $1,000 R. Davis, Capital at the beginning of the year was $2,050. Rob Davis also withdrew $800 from the company during the year. What is net...
2019 2018 Statement of financial position as at 31 December 2019 2019 2018 £000 £000 E000 £000 Assets Property Plant and Equipment 13,073.00 12.570.50 (NBV) Investments 3,550.00 Current Assets Inventory 8,243.50 7.946.00 Receivables 6,173.50 4,052.00 Cash and cash equivalent 431.50 14,848.50 362.00 12.360.00 Total Assets 31.471.50 24.930..50 Equity and Liabilities Share Capital Share Premium Revaluation Reserve Retained Earnings Non Current...
The comparative balance sheets of Stellar Inc. at the beginning and the end of the year 2020 are as follows. STELLAR INC. BALANCE SHEETS Dec. 31, 2020 Jan. 1, 2020 Inc./Dec. Assets Cash $ 47,620 $ 15,620 $32,000 Inc. Accounts receivable 94,790 89,170 5,620 Inc. Equipment 42,790 23,170 19,620 Inc. Less: Accumulated Depreciation-Equipment 20,790 11,000 9,790 Inc. Total $164,410 $116,960...
The comparative balance sheets of Pharoah Inc. at the beginning and the end of the year 2017 are as follows. PHAROAH INC. BALANCE SHEETS Dec. 31, 2017 Jan. 1, 2017 Inc./Dec. Assets Cash $ 48,220 $ 16,220 $32,000 Inc. Accounts receivable 95,670 89,450 6,220 Inc. Equipment 43,670 23,450 20,220 Inc. Less: Accumulated Depreciation-Equipment 21,670 11,000 10,670 Inc. Total $165,890 $118,120...