Question 1 of 3 - Chp 4 Homework 14th Ed_

The completed financial statement columns of the spreadsheet for Blossom Company are shown as follows: Blossom Company Worksheet For the Year Ended December 31, 2022 Account Income Statement Balance Sheet No. Account Titles Dr. Cr. Dr. Cr. 101 Cash 8,700 112 Accounts Receivable 10,600 130 Prepaid Insurance 2.600 157 Equipment 23.500 158 Accumulated Depreciation-Equip. 4,300 201 Accounts Payable 8.800 212 Salaries and Wages Payable 2.200 301 Owner's Capital 19.000 306 Owner's Drawings 11.800 400 Service Revenue 59.500 622 Maintenance and Repairs Expense 1.400 711 Depreciation Expense 2,900 722 Insurance Expense 1,600

The completed financial statement columns of the worksheet for Crane Company are shown as follows: Crane Company Worksheet For the Year Ended December 31, 2020 Income Statement Balance Sheet Account Account Titles Dr. Cr. Dr. Cr. No. 101 Cash 8,800 112 Accounts Receivable 10,800 130 Prepaid Insurance 3,000 157 Equipment 24,500 158 Accumulated Depreciation-Equip. 4,600 201 Accounts Payable 9,200 2,600 Salaries and Wages Payable Owner's Capital 212 20,000 301 306 Owner's Drawings 12,100 60,500 400 Service Revenue 622 Maintenance and Repairs Expense 1,600 3,100 Depreciation Expense Insurance Expense 711 1,800 722 29,800 Salaries and Wages Expense Utilities Expense 726 1,400 732 37,700 60,500 59,200 36,400 Totals 22,800 Net Income 22,800 60,500 60,500 59,200 59,200

The completed financial statement columns of the spreadsheet for Crane Company are shown as follows: Crane CompanyWorksheetFor the Year Ended December 31, 2022         Income Statement   Balance Sheet AccountNo.   Account Titles   Dr.   Cr.   Dr.   Cr. 101   Cash           8,800     112   Accounts Receivable           10,800     130   Prepaid Insurance           3,000     157   Equipment           24,500     158   Accumulated Depreciation—Equip.               4,600 201   Accounts Payable               9,200 212   Salaries and Wages Payable               2,600 301   Owner’s Capital               20,000 306   Owner’s Drawings           12,100     400   Service Revenue       60,500         622   Maintenance and Repairs Expense   1,600             711   Depreciation Expense   3,100             722   Insurance Expense   1,800             726   Salaries and Wages Expense   29,800…

The completed fi nancial statement columns of the worksheet for Bray Company are shown as follows. BRAY COMPANY Worksheet For the Year Ended December 31, 2017 Account Income Statement Balance Sheet No. Account Titles Dr. Cr. Dr. Cr. 101 Cash 8,800 112 Accounts Receivable 10,800 130 Prepaid Insurance 2,800 157 Equipment 24,000 158 Accumulated Depreciation—Equip. 4,200 201 Accounts Payable 9,000 212 Salaries and Wages Payable 2,400 301 Owner’s Capital 19,500 306 Owner’s Drawings 11,000 400 Service Revenue 60,000 622 Maintenance and Repairs Expense 1,700 711 Depreciation Expense 2,800 722 Insurance Expense 1,800 726 Salaries and Wages Expense 30,000 732 Utilities Expense 1,400 Totals 37,700 60,000 57,400 35,100 Net Income 22,300 22,300 60,000 60,000 57,400 57,400 Instructions (a) Prepare an income statement, an owner’s equity statement, and a classifi ed balance sheet. (b) Prepare the closing entries. L. Bray did not make any additional investments during the year. (c) Post the closing…

You are presented with the following trial balance of Carl Ltd at 31 October 2018.Dr CrR,000 R,000Building at cost 740Buildings, accumulated depreciation, 1 November 2018 60Plant at cost 220Plant, accumulated depreciation, 1 November 2018 110Land at cost 235Bank balance 50Revenue 1,800Purchases 1,105Discounts received 90Returns inwards 35Wages 180Energy expenses 105Trade Payables 250Trade Receivables 320Inventory at 1 November 2018 160Allowance for debtors at 1 November 2018 10Administrative expenses 80Director's remuneration 70Accumulated profit at 1 November 2018 13010% Debenture 50Dividend paid 30R1 Ordinary shares 650Share premium account 803,280 3,280Additional information as at 31 October 2019.a. Closing inventory has been counted and is valued at R75,000b. An invoice of R15 000 for energy expenses for October 2019 has not been received.c. The allowance for debtors is to be increased to 5% of trade receivable.d. Buildings are depreciated at 5% per annum on their original cost,…

Locate Gap Inc.’s 2020 Annual Report (for fiscal year  2/2/20-1/30/21)   There are 10 sections of questions.  You will find the information necessary to answer the questions in “Item 8. Financial Statements and Supplementary Data,” of the report.  Read through the questions carefully and answer in the space provided.    What are the following amounts at 1/30/21:   Total Assets : Total Liabilities: Total Owner’s Equity : At 1/30/21:   What is the percentage of debt used to finance Gap? What is the percentage of owner’s equity used to finance Gap?   What is the significance of these two percentages?

View Policies Current Attempt in Progress The following balances were taken from the books of Metlock Corp. on December 31, 2020. Interest revenue $87,450 Accumulated depreciation-equipment $41,450 Cash 52,450 Accumulated depreciation-buildings 29.450 Sales revenue 1,381,450 Notes receivable 156,450 Accounts receivable 151,450 Selling expenses 195,450 Prepaid insurance 21,450 Accounts payable 171,450 Sales returns and allowances 151.450 Bonds payable 101.450 Allowance for doubtful accounts 8,450 Administrative and general expenses 98,450 Sales discounts 46,450 Accrued liabilities 33,450 Land 101,450 Interest expense 61.450 Equipment 201,450 Notes payable 101.450 Buildings 141,450 Loss from earthquake damage 151,450 Cost of goods sold 622,450 Common stock 501,450 Retained earnings 22,450 Assume the total effective tax rate on all items is 20%. Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (Round earnings per share to 2 decimal…

The following three accounts appear in the general ledger of Herrick Corp. during 2020. Equipment Date       Debit   Credit   Balance Jan. 1   Balance           161,200 July 31   Purchase of equipment   68,100       229,300 Sept. 2   Cost of equipment constructed   54,600       283,900 Nov. 10   Cost of equipment sold       49,100   234,800                   Accumulated Depreciation—Equipment Date       Debit   Credit   Balance Jan. 1   Balance           70,700 Nov. 10   Accumulated depreciation on equipment sold   31,200       39,500 Dec. 31   Depreciation for year       24,200   63,700                   Retained Earnings Date       Debit   Credit   Balance Jan. 1   Balance           104,200 Aug. 23   Dividends (cash)   15,800       88,400 Dec. 31   Net income       66,700   155,100 From the postings in the accounts, indicate how the information is reported on a statement of cash flows using the indirect method. The…

Write & Insert Fields Preview Results Finish The following are extracts from the financial records of COF (Pty) Ltd for the year ended 30 June 2021: Extract from the statement of profit or loss and other comprehensive income for the year ended 30 June 2021 30 June 2021 R Revenue from sale of goods 920 000 Cost of sales Profit on sale of non-current assets Commission income 490 000 31 000 23 000 Audit fees 84 000 Depreciation Interest expense (finance cost) Income tax expense 72 000 20 000 87 000 Profit for the year (after tax) Extract from the statement of financial position as at 30 June 2021 BACHELOR OF COMMERCE YEAR1- ACADEMIC AND ASSESSMENT CALENDAR - DISTANCE + REGENT BUSINESS SCHOOL (RBS) - JANUARY 2021 43 123 000 30 June 2021 30 June 2020 302 000 690 000 292 000 Inventories Trade receivables Trade payables Taxation payable Prepaid expenses Accrued expenses Required: 720 000 400 000 385 000 75 000 60 000 2 000 8 000 84 000 88 000 Prepare only the "Cash generated by operations"…

Balance sheet preparation Use the appropriate items from the following list to prepare in good form Mellark's Baked Goods balance sheet at the end of the year. Complete the fragment of the balance sheet below ($000): (Select the correct account from the drop-d Mellark's Baked Goods Balance Sheet as of December 31, 2021 Assets Current assets: Total current assets $ $ Data table Accounts payable Accounts receivable Accruals Accumulated depreciation Buildings Cash Common stock (at par) Cost of goods sold Depreciation expense Equipment Furniture and fixtures General expense Inventories Land Long-term debts Machinery Marketable securities Notes payable Paid-in capital in excess of par Preferred stock Retained earnings Sales revenue Vehicles $219 447 51 260 225 217 92 2,503 50 148 166 320 380 95 421 416 76 479 360 96 218 3,567 26 - X

a. Fill in the cells for “Totals,” “Net Income,” and “Final Total” below. Verizon Company Worksheet For the Year Ended December 31, 2020     Income Statement   Balance Sheet Account Titles   Dr.   Cr.   Dr.   Cr.                   Cash           9,000     Accounts Receivable           10,700     Prepaid Insurance           2,600     Equipment           23,800     Accumulated Depreciation—Equip.               4,300 Accounts Payable               8,800 Salaries and Wages Payable               2,300 Owner’s Capital               19,800 Owner’s Drawings           11,400     Service Revenue       60,000         Maintenance and Repairs Expense   1,600             Depreciation Expense   3,100             Insurance Expense   1,700             Salaries and Wages Expense   29,900             Utilities Expense   1,400                     Totals…

The completed financial statement columns of the spreadsheet for Cullumber Company are shown as followEnter the balances from the adjusted trial balance and post the closing entries and calculate the balances of the accounts.(Post entries in the order of journal entries presented in the previous part.) Owner's Capital No. 301 Owner's Drawings No. 306 Income Summary No. 350 Service Revenue No. 400 Maintenance and Repairs Expense No. 622

Prepare the Statement of Financial Position

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The completed financial statement columns of the spreadsheet for Oriole Company are shown as follows: The completed financial statement columns of the worksheet for Oriole Company are shown as follows: Oriole Company Worksheet For the Year Ended December 31, 2022 Income Statement Balance Sheet Account Account Titles Dr. Cr. Dr. Cr. No. 101 Cash 9,100 112 Accounts Receivable 11,000 130 Prepaid Insurance 2,800 157 Equipment 24,300 158 Accumulated Depreciation-Equip. 4,500 201 Accounts Payable 9,200 212 Salaries and Wages Payable 2,500 301 Owner's Capital 19,500 306 Owner's Drawings 11,000 400 Service Revenue 60,500 622 Maintenance and Repairs Expense 1,700 711 Depreciation Expense 2,900 722 Insurance Expense 2,000 726 Salaries and Wages Expense 29,900 732 Utilities Expense 1,500 Totals 38,000 60,500 58,200 35,700 22,500 22,500 Net Income 60,500 60,500 58,200 58,200

An alphabetical list of Ivanhoe Company adjusted accounts at its fiscal year end, August 31, 2024, follows. All accounts have normal balances.Accounts payable$15,600Notes payable$42,000Accumulated depreciation-equipment14,000Prepaid insurance575Accumulated depreciation-furniture17,500R. Martin, capital65,750Cash17,830R. Martin, drawings71,000Cost of goods sold286,875Rent expense24,800Depreciation expense7,020Salaries expense51,000Equipment35,000Salaries payable2,250Furniture42,000Sales473,000Insurance expense3,575Sales returns and allowances14,000Interest expense1,375Supplies950Interest payable575Supplies expense6.325Merchandise inventory70,950Unearned revenue2,600 1.Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

answer please with all working    On December 1, 2022, Coronado Company had the account balances shown below. Cash Accounts Receivable Inventory Equipment *(3,000 x $0.60) Dec. 3 1. 5 2. 7 17 22 Debit The following transactions occurred during December: Adjustment data: $5,000 5,000 1,800 21,000 $32,800 14 Accumulated Depreciation-Equipment Accounts Payable Owner's Capital Credit $1,200 Recognized accrued salaries payable $400. Recognized depreciation $400 per month. 3,400 28,200 Purchased 4,200 units of inventory on account at a cost of $0.78 per unit. Sold 4,500 units of inventory on account for $0.94 per unit. (Coronado sold 3,000 of the $0.60 units and 1,500 of the $0.78.) $32,800 Granted the December 5 customer $177 credit for 200 units of inventory returned costing $118. These units were returned to inventory. Purchased 2,000 units of inventory for cash at $0.84 each. Sold 2,200 units of inventory on account for $0.99 per unit. (Coronado sold 2,200 of the $0.78 units.)   1.…

The following information was extracted from the financial statements working papersfile for year ended 31 December 2020 for Dave Song’s Cleaning Services List of balances at 31 December 2020 Debits Credits Capital: D Song   660 000 Drawings 160 000   Land and buildings at cost 582 000   Vehicle at cost 224 000   Accumulated depreciation: Vehicle (1 January2020)   46 000 Bank 360 000   Inventories: Consumables 104 000   Trade receivables 261 200   Allowance for credit losses   13 060 10% Long term loan   320 000 Trade payables   260 000 Fees earned   1 036 600 Rent expense 160 000   Telephone 10 708   Other distribution expenses 454 752   Interest on long term loan 19 000     2 335 660 2 335 660 Additional information not yet taken into account:1. Included in rent expenses is an amount of R68 000 in respect of rent for 2021 whichwas paid and recorded in December 2020.2. The telephone account for December 2020 of R1 540 was received but not yet…

please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)       Selected information about income statement accounts for the Reed Company is presented below (the company's fiscal year ends on December 31):   2024 2023 Sales revenue $ 4,900,000 $ 4,000,000 Cost of goods sold 2,960,000 2,100,000 Administrative expense 900,000 775,000 Selling expense 460,000 402,000 Interest revenue 160,000 150,000 Interest expense 220,000 220,000 Loss on sale of assets of discontinued component 88,000 — On July 1, 2024, the company adopted a plan to discontinue a division that qualifies as a component of an entity as defined by GAAP. The assets of the component were sold on September 30, 2024, for $88,000 less than their book value. Results of operations for the component (included in the above account balances) were as follows:…

need help preparing an statement table   The following information relates to Oriole Co. for the year 2020. Owner’s capital, January 1, 2020   $53,827   Advertising expense   $ 2,019 Owner’s drawings during 2020   6,728   Rent expense   11,663 Service revenue   71,321   Utilities expense   3,476 Salaries and wages expense   33,081

With this information create Journal Entries, T Accounts/Trial Balance, and Financial Statements Balance Sheet for end of 2019                      Assets                  Cash       77,250           Accounts Receivable (net of allowance of 7200)   237,884           Inventory   45,500    (1000 units at $45.50 each)Prepaid Insurance   1,600           Supplies       1,625              Total Current Assets   363,859                             Property, Plant and Equipment, Net   177,500           Land       32,000                                Total Assets   573,359                             Liabilities              Accounts Payable   94,552           Unearned Revenue   45,200           Interest Payable   2,100           Salaries Payable   6,600              Total Current Liabilities   148,452                             Long Term Debt   246,100                             Total Liabilities   394,552                             Capital Stock   100,000                   Retained…

Financial Statements Steven Company has provided the following information for the most recent quarter, January 1 through March 31 of 2020.  Prepare a multiple-step Income Statement and the Asset section of a classified Balance Sheet, including the correct headings. Specific Account Balance Specific Account Balance Accounts Payable 45 Interest Revenue 26 Accounts Receivable 204 Interest Payable 6 Accumulated Depreciation (Buildings) 45 Inventory 112 Accumulated Depreciation (Equipment) 11 Land 218 Allowance for Doubtful Accounts 22 Loss on Sale of PPE 14 Bad Debt Expense 18 Notes Payable (maturity of less than 1 yr) 60 Bank Fees Expense 2 Notes Payable (maturity of more than 1 yr) 83 Buildings 255 Retained Earnings (beginning) 180 Cash 188 Salaries Expense 25 Common Stock 306 Salaries Payable 47 Cost of Goods Sold 560 Sales Discounts 8 Depreciation Expense 20…

Hcs/380 Calculate the 2022 return on assets ratio

Solution with the proper order and each category please

prepare the multi step income statement

Using the ledger bal & addtl data​ given, do the following for Callahan Lumber for the yr ended December​ 31, 2019​: Account Balances for Callahan Lumber Account No. 110 Cash $1,140 111 Accounts Receivable 1,270 112 Merch Inv 5,600 113 Lumber Supplies 260 114 Prepaid Insurance 117 121 Lumber Equip 2,600 122 Accu Depreciation, Lumber Equip 340 220 Accs Payable 1,330 221 Wages Payable - 330 L. Callahan, Cap 7,562 331 L. Callahan, Withdrawals 3,500 332 Income Summary - 440 Sales 23,000 441 Sales Returns and Allowances 400 550 Cost of Goods Sold 13,175 660 Wages Exp 2,390 661 Advertising Exp 940 662 Rent Exp840 663 Dep Exp, Lumber Equip - 664 Lumber Supplies Exp- 665 Ins Exp -   Addtl Data   a. Physical count of inv, Dec 31 $4,700 b. Lumber supp on hand, Dec 31 80 c. Insurance expd 70 d. Dep for the yr 460 e. Accrued wages on Dec 31 165 d.   Prepare a​ post-closing trial balance. e.   Journalize the reversing entry for…

Please help me.

Using the information below I am looking for assistance to filling in the blanks in the attached photos.  The following are the financial statements of Nosker Company. NOSKER COMPANYComparative Balance SheetsDecember 31 Assets   2020   2019 Cash   $35,500     $20,800   Accounts receivable   32,500     19,800   Inventory   26,150     20,850   Equipment   59,600     77,650   Accumulated depreciation—equipment   (29,650 )   (23,150 )    Total   $124,100     $115,950                 Liabilities and Stockholders’ Equity             Accounts payable   $28,200     $ 16,750   Income taxes payable   7,350     8,150   Bonds payable   27,400     33,900   Common stock   18,650     14,950   Retained earnings   42,500     42,200      Total   $124,100     $115,950     NOSKER COMPANYIncome StatementFor the Year Ended December 31, 2020 Sales revenue   $241,150 Cost of goods sold   175,100…