AccountNo.101112126130157158200201212230311320332400610631711722726905BLEECKER STREET, LTD.WorksheetFor the Year Ended December 31, 2017Account TitlesCashAccounts ReceivableSuppliesPrepaid InsuranceEquipmentAccumulated Depreciation EquipmentNotes PayableAccounts PayableSalaries and Wages PayableInterest PayableShare Capital-OrdinaryRetained EarningsDividendsService RevenueAdvertising ExpenseSupplies ExpenseDepreciation ExpenseInsurance ExpenseSalaries and Wages ExpenseInterest ExpenseTotalsAdjustedTrial BalanceDr.5,30010,8001,5002,00027,0005,0008,4004,0005,6003,20028,000600101,400Cr.5,60015,0004,6002,40060010,0004,20059,000101,400

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Answered: Account No. 101 112 126 130 157 158 200…

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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! Required information Problem 12-6A (Algo) Use ratios to analyze risk and profitability (LO12-3, 12-4) [The following information applies to the questions displayed below.] Income statements and balance sheets data for Virtual Gaming Systems are provided below. Net sales Cost of goods sold Gross profit Expenses: VIRTUAL GAMING SYSTEMS Income Statements For the Years Ended December 31 2025 $3,495,000 2,477,000 1,018,000 Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses Net income 952,000 27,000 16,500 7,700 1,003, 200 14,800 2024 $3,021,000 1,947,000 1,074,000 855,000 25,500 7,700 13,500 46,500 948, 200 125,800
DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s) 2018 2017 Assets Cash Accounts receivable 24 $ 43 $ 25 49 57 Less: Allowance for uncollectible accounts (4) (3) 6 Dividends receivable Inventory Long-term investment Land 7 65 55 25 15 87 45 Buildings and equipment Less: Accumulated depreciation 220 260 (30) $ 462 (60) $ 400 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable Less: Discount on bonds Shareholders' Equity $ 18 $ 30 7 8 8 12 13 42 105 75 (7) (13) Common stock 215 205 Paid-in capital-excess of par Retained earnings Less: Treasury stock 31 25 43 49 (13) $ 462 $ 400 Liabilities $ 18 $ 30 Accounts payable Salaries payable 7 8 Interest payable Income tax payable Notes payable Bonds payable Less: Discount on bonds Shareholders' Equity 9 8 12 13 42 105 75 (7) (13) Common stock 215 205 Paid-in capital-excess of par Retained earnings Less: Treasury stock 31 25 43 49 (13) $ 462 $ 400 Additional…
Assets Cash Accounts Receivable Prepaids Inventory Property, Plant & Equipment Less: Accumulated Depreciation Total Assets Liabilities A wompany Balance Sheet December 31, Year 2 Accounts Payable Accrued Liabilities Notes Payable (Long-Term Debt) Total Liabilities Stockholders Equity Common Stock ($10 par) Paid in Capital In Excess of Part Retained Earnings Treasury Stock Total Stockholders Equity Total Liabilities and Stockholders Equity Year 2 Year 1 Change 40,000 $20,000 140,000 (10,000) $ 60,000 $ 130,000 35,000 43,000 (8,000) 183,000 120,000 63,000 340,000 310,000 30,000 (75,000) (50,000) (25,000) $673,000 $ 603,000 $70,000 $110,600 $ 111,000 $ (400) 34,000 32,000 2,000 50,000 50,000 100,000 $244,600 $ 193,000 $51,600 $ 75,000 $ 75,000 $ 220,000 220,000 143,400 10,000 115,000 28,400 10,000 $428,400 $ 410,000 $18,400 $673,000 $ 603,000 $70,000 28 What is the cash flow from operating activities using the indirect method of the statement of cash flows? O $71,400 O $53,000 O $63,000 O…
Required Information [The following information applies to the questions displayed below.] On January 1, 2021, the general ledger of ACME Fireworks includes the following sccount balances: Accounts Debit Credit $ 27,100 Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipnent Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2822) 5e, 200 $ 6,200 22, B00 66, 800 25, e00 3,5ee 30,5ee 70, e00 55,e00 25,100 Common Stock Retained Earnings Totals $190,300 $198,300 During January 2021, the following transactions occur: January 2 Sold gift cards totaling $12,e0e. The cards are redeenable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $167,88e. January 15 Firework sales for the first half of the month total $155,e0e. All of these sales are on account. The cost of the units sold is $83,88e. January 23 Receive $127,480 from custoners on accounts receivable. January 25 Pay $11e,eee to…
You are provided with the following information for Crane Company, effective as of its April 30, 2025, year-end. Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common stock Cost of goods sold Depreciation expense Dividends Equipment Goodwill Income tax expense Income taxes payable Insurance expense Interest expense Inventory Investment in land Land $ 838 (21) 910 560 1,330 16,800 1,050 Mortgage payable (long-term) Notes payable (short-term) Prepaid insurance Retained earnings (beginning) Salaries and wages expense Salaries and wages payable 375 310 2,490 1,800 160 130 380 550 950 13,925 3,000 Sales revenue Stock investments (short-term) 4,100 62 50 2,000 800 290 5,000 1,700
Required information [The following information applies to the questions displayed below.] On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2022) Common Stock Retained Earnings Totals View transaction list Journal entry worksheet
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