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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Revenues Expenses Cost of goods sold Selling expenses General and administrative expenses Interest expense Income tax expense Total expenses Net income Assets Current assets Cash Marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Plant and equipment (net) Intangibles Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Accounts payable Other Total current liabilities Bonds payable Total liabilities Year 2 $219,100 Total liabilities and stockholders' equity 124, 400 19,700 10,000 1,700 20, 100 175,900 $ 43,200 $ 38,500 15,800 54,300 64,300 118,600 Stockholders' equity Common stock (43,000 shares) Retained earnings Total stockholders' equity 159,000 $277,600 $ 4,800 $ 7,200 2,800 2,800 36,600 31, 100 101,600 94, 100 3,900 2,900 149,700 138, 100 106,400 106,400 21,500 0 $277,600 $244,500 Year 1 $182,800 114,900 44, 100 101, 100 17,700 9,000 1,700 16,900 146,400 $36,400 $ 34,200 16, 200 50,400 65,300 115,700 114,900…
balance sheets Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Current liabilities Long-term notes payable Common stock, $5 par value Retained earnings Total liabilities and equity Problem 13-5A (Algo) Part 1 $ 19,500 37,400 84,640 5,900 350,000 $ 497,440 $ 33,000 56,400 134,500 6,900 304,400 $ 535,200 $ 68,340 86,800 190,000 152,300 $ 497,440 $ 535,200 $ 91,300 115,000 206,000 122,900 statement Sales Cost of goods sold Interest expense Income tax expense Net income Basic earnings per share Cash dividends per share Beginning-of-year balance sheet data Accounts receivable, net Merchandise inventory Total assets Common stock, $5 par value Retained earnings Required: 1a. For both companies compute the (a) current ratio, (b) acid-test ratio, (c) accounts receivable turnover, (d) invent sales in inventory, and () days' sales uncollected. Note: Do not round intermediate calculations. 1b. Identify the company…
Prepare a blance sheet
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