< Pk Patricia Johnson is the bookkeeper for Crane Company. Patricia has been trying to determine the correct balance sheet for Cran Company, shown as follows. Assets Cash Supplies Equipment Owner's drawings Total assets $15,000 8,000 46,000 13,000 $82,000 CRANE COMPANY Balance Sheet December 31, 2022 Page 1 Liabilities Accounts payable Accounts receivable Owner's capital Total liabilities and owner's equity Assets Prepare a correct balance sheet. (List Assets in order of liquidity) CRANE COMPANY Balance Sheet Liabilities and Owner's Equity $25,435 (7.873) 64,438 $82,000 [[[

< Pk Patricia Johnson is the bookkeeper for Crane Company. Patricia has been trying to determine the correct balance sheet for Cran Company, shown as follows. Assets Cash Supplies Equipment Owner's drawings Total assets $15,000 8,000 46,000 13,000 $82,000 CRANE COMPANY Balance Sheet December 31, 2022 Page 1 Liabilities Accounts payable Accounts receivable Owner's capital Total liabilities and owner's equity Assets Prepare a correct balance sheet. (List Assets in order of liquidity) CRANE COMPANY Balance Sheet Liabilities and Owner's Equity $25,435 (7.873) 64,438 $82,000 [[[

Name: < PkCash10:45Patricia Johnson is the bookkeeper t r Crane Company, Pa
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Description: < PkCash10:45Patricia Johnson is the bookkeeper t r Crane Company, Patricia has been trying to determine the correct balance sheet for CraneCompany, shown as follows.SuppliesEquipmentOwner's drawingsTotal assets28AssetsWUntitled document.pdfPage 1Ơ$

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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Marci Ling is the bookkeeper for Samco Company, Inc. Marci has been trying to get the company’s balance sheet to balance. She finally got it to balance, but she still isn’t sure that it is correct. Samco Company, Inc.Balance SheetFor the Month Ended December 31, 2022 Assets Liabilities and Stockholders’ Equity Equipment $18,000 Common stock $12,000 Cash 9,000 Accounts receivable (6,000 ) Supplies 1,000 Dividends (2,000 ) Accounts payable (4,000 ) Notes payable 10,000 Total assets $24,000 Retained earnings 10,000 Total liabilities and stockholders’ equity $24,000 Prepare a correct balance sheet. (List assets in order of liquidity.) Explain to Marci Ling in a memo the purpose of a balance sheet and why this balance sheet is incorrect.
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Courses =HCS380 Week 1 Terminology Matching Accounts Receivable Terminology Matching Note Payable Bonds Payable Common Stock Income Statement Balance Sheet Retained Earnings Statement Statement of Cash Flow Basic Accounting Equation multimedia.phoenix.edu Annual Report View Assessment HCS/380: Week 1 - Terminology Matching - Academic Resources Owed to a bank for the money borrowed Bill customer/patient for services HCS Debt securities sold to investors that must be repaid at a particular date in the future A AOL PASSV REQUIRED Enter your password for "kaylakı Accounts. Prepared by corporate management to present financial information, management discussion, notes, and auditor's report Used by creditors to determine if they will be paid Assets Liabilities+Stockholder's Equity Used by creditors and investors to analyze the organization's cash position Used by investors to evaluate the organization's history of paying high dividends The total amount paid in by stockholders for the share…
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! Required information [The following information applies to the questions displayed below.] The general ledger of Zips Storage at January 1, 2024, includes the following account balances: Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Debits $25,400 Credits 16,200 13,600 156,000 $7,500 6,600 151,000 46,100 Totals $211,200 $211,200 The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Provide storage services for cash, $142,100, and on account, $56,200. Collect on accounts receivable, $52,300. Receive cash in advance from customers, $13,700. Purchase supplies on account, $10,800. Pay property taxes, $9,300. Pay on accounts payable, $12,200. Pay salaries, $131,600. Issue shares of common stock in exchange for $35,000 cash. Pay $3,600 cash dividends to stockholders. 1. 3. 6. & 10. Post the…
1.The following accounts and balances were taken from the financial statements of r@ktas Inc. Prepare a classified balance sheet as of December 31,2018. $ 40.000 $ 80.000 $ 5.000 $ 120,000 $ 43,000 $ 15,000 $ 75,000 Bank credit Cash Short-term investments Accounts payable Property&Equipment Retained earnings Inventory Capital Prepaid insurance ? $ 12,000 r@ktas Inc. Balance Sheet at December 31,2020
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27 es The general ledger of Zips Storage at January 1, 2024, Includes the following account balances: Credits Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totaln Debits $25,300 16,100 13,400 155,000 $7,400 6,500 150,000 45,900 $209,800 $209,800 The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 5. July 15. 6. September 10 7. October 31 8. November 20 9. December 30 Provide storage services for cash, $141,100, and on account, $55,700. Collect on accounts receivable, $52,200. Receive cash in advance from customers, $13,600. Purchase supplies on account, $10,600. Pay property taxes, $9,200. Pay on accounts payable, $12,100. Pay salaries, $130,600. Issue shares of common stock in exchange for $34,000 cash. Pay $3,500 cash dividends to stockholders. Problem 3-9A (Algo) Part 5 5. Record adjusting entries. Insurance expired during the year is $7,700. Supplies…