Account Accounts Payable Accounts Receivable Bank Loan Payable Cash Coffee Revenue Common Shares Deferred Revenue Dividends Declared Prepare a Balance Sheet and fill in the totals for the accounting equation below: Assets Liabilities Shareholders' Equity Balance $500 $800 $2,000 $1,000 $3,000 $2,000 $700 $600 Account Equipment Hydro Expense Inventory Long Term Investments Rent Expense Retained Earnings Salaries Expense Salaries Payable Balance $3,000 $600 $900 $2,500 $800 $3,000 $1,500 $500

Account Accounts Payable Accounts Receivable Bank Loan Payable Cash Coffee Revenue Common Shares Deferred Revenue Dividends Declared Prepare a Balance Sheet and fill in the totals for the accounting equation below: Assets Liabilities Shareholders' Equity Balance $500 $800 $2,000 $1,000 $3,000 $2,000 $700 $600 Account Equipment Hydro Expense Inventory Long Term Investments Rent Expense Retained Earnings Salaries Expense Salaries Payable Balance $3,000 $600 $900 $2,500 $800 $3,000 $1,500 $500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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How do I create and start a balance sheet for this data?
Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accounts payable Salaries payable Income tax payable Total current liabilities (a1) a. $8,600 Current ratio 12,900 b. Quick ratio 145,000 5,200 $171,700 $53,300 3,600 1,000 $57,900 2024 $30,100 10,300 :1 105,000 $152,300 :1 6,900 $40,400 5,000 1,000 $46,400 $27,100 7,700 100,000 During 2024, credit sales and cost of goods sold were $138,040 and $82,500, respectively. The 2023 and 2022 credit sales were $151,200 and $151,840, respectively, and the cost of goods sold for the same periods were $79,950 and $82,325, respectively. The accounts receivable and inventory balances at the end of 2021 were $6,900 and $85,000, respectively. 5,600 $140,400 Using the above data, calculate the following ratios: (Round receivables turnover ratio and average collection period to 1 decimal place, e.g. 15.2, days to sell inventory to 0 decimal places, e.g. 152 and all other answers to 2 decimal…
Manually journalize the following: a. Bank transfer from any bank to 1612CN amounting P30,000 b. cash Payment amounting P1000 to Acme Corporation. c. the company issued ordinary share capital worth of P 5,000, payment received and deposited on its GBP Bank Account 1 Dr. GBP Bank Account 1 P 5,000 Cr. Ordinary Share Capital P 5,000 d. the company recorded a Salary Expense worth of P 2500, paid for through the company's GBP Bank Account 1. Dr. Salaries and Wages P 2500 Cr. GBP Bank Account 1 P 2500 2 e. the company will pay a total of P 1500 from the Petty Cash fund for transportation related expenses. This transaction is still subject to supervisor's approval.
a.Prepare the Current Assests section of the balance sheet b. Prepare the Current Liabiloties Section of the Balance sheet
1. The following accounts appeared on the partial Balance Sheet of Brandy Inc.: Accounts Payable Accounts Receivable $ 5,500 2,300 2,820 3,000 8,140 18,560 18,760 100 Bank Loan Cash Common Stock Inventory Long-term debt Machinery What is the total amount of all assets (rounded to the nearest dollar)?
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Privett Company Accounts payable Accounts receivable Accrued liabilities Cash $36,632 72,986 6,134 15,305 38,400 71,968 119,728 79,667 31,336 20,560 662,428 2,681 Based on the data for Privett Company, what is the amount of quick assets? Oa. $119,627 Ob. $781,037 Oc. $46,641 Od. $1,601,593 Intangible assets Inventory Long-term investments Long-term liabilities Marketable securities Notes payable (short-term) Property, plant, and equipment Prepaid expenses
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Please list the account name and their final numbers
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