Below is a list of selected account balances at the end of the accounting period in 2019, but before the adjusting entries. All accounts are on their normal side. Accumulated Depreciation- Buildings 80,000 Accounts payable 50,000 Notes Payable: Due August 14, 2022 30,000 Notes Payable: Due May 31, 2020 90,000 Bonds payable 180,000 Common shares 60,000 Retained earnings, January 1, 2019 50000 Sales 241,000 Cash 52,000 Accounts receivable 70,000 Inventory 160,000 Buildings 295,000 Dividends 70000 Salaries expense 85,000 Cost of goods sold 135,000 What is the total sum of credits?

Below is a list of selected account balances at the end of the accounting period in 2019, but before the adjusting entries. All accounts are on their normal side. Accumulated Depreciation- Buildings 80,000 Accounts payable 50,000 Notes Payable: Due August 14, 2022 30,000 Notes Payable: Due May 31, 2020 90,000 Bonds payable 180,000 Common shares 60,000 Retained earnings, January 1, 2019 50000 Sales 241,000 Cash 52,000 Accounts receivable 70,000 Inventory 160,000 Buildings 295,000 Dividends 70000 Salaries expense 85,000 Cost of goods sold 135,000 What is the total sum of credits?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 6MC: Prior to adjustments, Barrett Companys account balances at December 31, 2019, for Accounts...

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Noren Company uses the balance sheet aging method to account for uncollectible debt on receivables. The following is the past-due category information for outstanding receivable debt for 2019. To manage earnings more favorably, Noren Company considers changing the past-due categories as follows. A. Complete each table by filling in the blanks. B. Determine the difference between totals uncollectible. C. Complete the following 2019 comparative income statements for 2019, showing net income changes as a result of the changes to the balance sheet aging method categories. D. Describe the categories change effect on net income and accounts receivable.
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bartleby, a Learneo, Inc. business

Accumulated Depreciation- Buildings	80,000
Accounts payable	50,000
Notes Payable: Due August 14, 2022	30,000
Notes Payable: Due May 31, 2020	90,000
Bonds payable	180,000
Common shares	60,000
Retained earnings, January 1, 2019	50000
Sales	241,000
Cash	52,000
Accounts receivable	70,000
Inventory	160,000
Buildings	295,000
Dividends	70000
Salaries expense	85,000
Cost of goods sold	135,000