Accounts payable Accounts receivable CAPITAL NORTHEAST CORPORATION POST-CLOSING TRIAL BALANCE DECEMBER 31, 2017 Accumulated depreciation equipment Additional paid-in capital-common In excess of par value From sale of treasury stock Allowance for doubtful accounts Equipment Cash Common stock ($1 par value) Dividends payable on common stock-cash Inventories Investments Preferred stock ($100 par value) Prepaid insurance Retained earnings Treasury stock-common at cost Totals Dr. $ 605,000 Authorized Issued Outstanding 6,800,000 260,000 750,000 2,500,000 65,000 125,000 $11,105,000 Cr. $ 668,000 450,000 1,900,000 35,000 20,000 500,000 50,000 6,500,000 982,000 $11,105,000 31, 2017, Capital Northeast had the following number of common and preferred shares. Common Preferred 2,500,000 1,000,000 500,000 65,000 490,000 65,000 on preferred stock are 6% cumulative. In addition, the preferred stock has a preference in liquidation of $102

Accounts payable Accounts receivable CAPITAL NORTHEAST CORPORATION POST-CLOSING TRIAL BALANCE DECEMBER 31, 2017 Accumulated depreciation equipment Additional paid-in capital-common In excess of par value From sale of treasury stock Allowance for doubtful accounts Equipment Cash Common stock ($1 par value) Dividends payable on common stock-cash Inventories Investments Preferred stock ($100 par value) Prepaid insurance Retained earnings Treasury stock-common at cost Totals Dr. $ 605,000 Authorized Issued Outstanding 6,800,000 260,000 750,000 2,500,000 65,000 125,000 $11,105,000 Cr. $ 668,000 450,000 1,900,000 35,000 20,000 500,000 50,000 6,500,000 982,000 $11,105,000 31, 2017, Capital Northeast had the following number of common and preferred shares. Common Preferred 2,500,000 1,000,000 500,000 65,000 490,000 65,000 on preferred stock are 6% cumulative. In addition, the preferred stock has a preference in liquidation of $102

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Description: Accounts payableAccounts receivableCAPITAL NORTHEAST CORPORATIONPOST-CLOSING TRIAL BALANCEDECEMBER 31, 2017Accumulated depreciation-equipmentAdditional paid-in capital-commonIn excess of par valueFrom sale of treasury stockAllowance for doubtful acc

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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pp. Subject :- Accounting
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Consider the following data being taken out of the trial balance of GPA Ltd. as at 31 March 2017: Dr Cr Ordinary shares of $5 each 520,000 Preference shares of $1 each 10,000 8% debentures 84,000 General reserve 89,700 Retained profits 145,623 Motor vehicles at cost 175,000 Machinery at cost 196,000 Accumulated depreciation - vehicles 109,500 Accumulated depreciation - machinery 127,800 Stock at 31 March 2016 94,403 Debtors 225,640 Creditors 91,661 Cash at bank 566,662 Purchases 222,820 Sales 630,260 Wages & salaries 73,740 General expenses 84,608 Directors’ remuneration 30,364 Rent and rates 100,807 Debenture interest 2,880 Interim dividend paid – Ordinary shares 9,400 Interim dividend paid – 10%…
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Im the context of Imfilation Accountimg System adjust the ffollowing Statement of Pudfit und LOES and Balance Sheet under the "Current Purchasing Power' (or CPP) method tto ascertain fhe changes in Net Profit and Reserve. STATEMENT OF PROFIT AND LOSS ffor the year ended 31st December, 2015 $ ('000) 500 Sales 80 Opening Stock Purchases 420 500 70 430 Less : Closing Stock 70 Gross Profit Depreciation (buildings) Admünüstration 25 30 40 Net Profit BALANCE SHEET as at 31st December, 2015 $ ('O00) Share Capital 200 Reserve 200 400 Land 140 200 Building Less : Depreciation 45 155 Stock Debtors 70 40 Cash 30 140 Less : Creditors 35 105 400 Following data are given : (1) Closing stock was acquired during last quarter of 2015 and opening stock during the last quarter of 2014. (2) The land and buildings were acquired and the capital issued during 1992. The buildings are depreciated straight lime over 40 years. ((3) The relevant retail price indices are (@) 2007 average (b) 2014 last quarter…
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Prepare the company’s Statement of Changes in Shareholders’ Equity for the year ended December 31, 2021.
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Accounts payable Accounts receivable Accumulated depreciation-buildings Additional paid-in capital in excess of par-common From treasury stock Allowance for doubtful accounts Bonds payable Buildings Cash Common stock ($1 par) Dividends payable (preferred stock-cash) Inventory Land SHEFFIELD CORPORATION Post-Closing Trial Balance December 31, 2025 Preferred stock ($50 par) Prepaid expenses Retained earnings Treasury stock (common at cost) Totals Authorized Issued Outstanding Common 585,000 195,000 Dr. 164,000 $513,000 1,489,000 203,000 579,000 392,000 42,000 181,000 $3,399,000 Preferred 66,000 11,000 Cr. $405,100 At December 31, 2025, Sheffield had the following number of common and preferred shares. 11,000 195,000 1,310,000 150,000 27,000 292,000 195,000 3,900 550,000 271,000 $3,399,000 The dividends on preferred stock are $4 cumulative. In addition, the preferred stock has a preference in liquidation of $50 per share. Prepare the stockholders' equity section of Sheffield's balance…
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Cash Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Trademarks Accounts Payable Salaries and Wages Payable Unearned Service Revenue Bonds Payable (due 2032) Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Rent Expense Debit ? 1,310 1,110 48,110 1,060 9,110 1,510 1,310 Credit $ 4,110 10,110 610 2,110 9,110 10,110 25,110 10,110