Prepaid Expenses 15,150 Equipment 12,435 Accumulated Depreciation Accounts Payable 1,669 Notes Payable 4,558 Common Stock 1,000 Retained Earnings 3,186 Dividends 851 Fees Earned 7,349 Wages Expense 3,205 Rent Expense 847 Utilities Expense 423 Depreciation Expense 217 Miscellaneous Expense 67 Totals 30,197 30,197 Determine the total assets. Oa. $30,197 Ob. $12,152 Oc. $24,587 Od. $4,186

Prepaid Expenses 15,150 Equipment 12,435 Accumulated Depreciation Accounts Payable 1,669 Notes Payable 4,558 Common Stock 1,000 Retained Earnings 3,186 Dividends 851 Fees Earned 7,349 Wages Expense 3,205 Rent Expense 847 Utilities Expense 423 Depreciation Expense 217 Miscellaneous Expense 67 Totals 30,197 30,197 Determine the total assets. Oa. $30,197 Ob. $12,152 Oc. $24,587 Od. $4,186

Name: Stockton CompanyAdjusted Trial BalanceDecember 316,075Cash2,588Accoun
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Description: Stockton CompanyAdjusted Trial BalanceDecember 316,075Cash2,588Accounts Receivable774Prepaid Expenses15,150EquipmentAccumulated Depreciation12,435Accounts Payable1,669Notes Payable4,558Common Stock1,000Retained Earnings3,186Dividends851Fees Earned7,

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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Accounts payable 919 Accounts receivable 631 Accumulated depreciation 1,813 Cash 729 Common stock 1,387 Cost of goods sold 7,578 Current portion of long-term debt 24 Depreciation expense 108 Dividends 13 Goodwill and other long-term assets 2,627 Income tax expense 24 Income taxes payable 12 Interest expense 54 Interest revenue 11 Inventories 930 Long-term liabilities 1,585 Prepaid expenses and other current assets 65 Property and equipment 2,389 Retained earnings 825 Sales 9,710 Selling, general, and administrative expenses 2,276 Unearned revenue 990 Wages payable 148 Prepare the balance sheet.
Balance Sheet December 31 Assets Cash Inventory Equipment Accounts receivable Less: Accumulated depreciation $ 21,000 520,000 142,500 $ 624,000 78,000 546,000 Total assets $ 1,229,500 Liabilities and Equity Liabilities Accounts payable Loan payable Taxes payable (due March 15) $ 355,000 11,000 88,000 454,000 Equity Common stock Retained earnings $ 474,500 301,000 775,500 Total liabilities and equity $ 1,229,500 To prepare a master budget for January, February, and March, use the following information. a. The company's single product is purchased for $30 per unit and resold for $58 per unit. The inventory level of 4,750 units on December 31 is more than management's desired level, which is 20% of the next month's budgeted sales units. Budgeted sales are January, 6,500 units; February, 9,000 units; March, 11,000 units; and April, 10,000 units. All sales are on credit. b. Cash receipts from sales are budgeted as follows: January, $233,100; February, $722,857; March, $519,245. c. Cash…
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q. 13 A company has $628 in inventory, $1,921 in net fixed assets, $300 in accounts receivable, $141 in cash, and $354 in accounts payable. What are the company’s total current assets? $769 $1,069 $2,990 $1,123 $1,423
Date Accounts Debit Credit Cash 145,000 a. Accounts Receivable 145,000 b. Selling and Administrative Expenses 32,000 Cash 32,000 Accounts Payable 39,000 C. Cash 39,000 d. Raw Materials Inventory 28,200 Accounts Payable 28,200 Work-in-Process Inventory Manufacturing Overhead 8,850 e. 1,200 Raw Materials Inventory 10,050 Work-in-Process Inventory Manufacturing Overhead f. 20,600 18,400 Wages Payable 39,000 Wages Payable 38,700 g. Cash 38,700 h. Manufacturing Overhead 2,500 Accumulated Depreciation 2,500 Work-in-Process Inventory 16,480 i. Manufacturing Overhead 16,480 j. Finished Goods Inventory 47,430 Work-in-Process Inventory 47,430 k. Accounts Receivable 104,000 Sales Revenue 104,000 k. Cost of Goods Sold 47,430 Finished Goods Inventory 47,430 L. Cost of Goods Sold 5,620 Manufacturing Overhead 5,620
Income statement , SFP
Accounting Accounts payable $18,200 Accounts receivable 8,500 Accumulated depreciation—equipment 5,300 Bonds payable 17,500 Cash 25,000 Common stock 26,800 Cost of goods sold 28,800 Depreciation expense 5,000 Dividends 5,900 Equipment 45,500 Interest expense 2,300 Patents 7,260 Retained earnings, January 1, 2022 19,300 Salaries and wages expense 6,100 Sales revenue 53,800 Supplies 6,540 1. Find the Current ratio 2. Debt to assets ratio enter debt to assets ratio in percentages rounded to 1 decimal place % 3. Working capital $enter working capital in dollars 4. Earnings per share value plzz help me in these ratios thnx
J. P. Robard Mfg., Inc. Balance Sheet ($000) Cash $470 Accounts receivable 2,100 Inventories 940 Current assets $3,510 Net fixed assets 4,590 Total assets $8,100 Accounts payable $1,120 Accrued expenses 580 Short-term notes payable 280 Current liabilities $1,980 Long-term debt 2,040 Owners' equity 4,080 Total liabilities and owners' equity $8,100 (Click on the icon in order to copy its contents into a spreadsheet.) J. P. Robard Mfg., Inc. Income Statement ($000) Net sales (all credit) $8,010 Cost of goods sold (3,300) Gross profit $4,710 Operating expenses (includes $500 depreciation) (3,090) Net operating income $1,620 Interest expense (360) Earnings before taxes $1,260 Income taxes (35%) (441) Net income $819
Comparative Balance Sheet Ending Beginning Balance Balance Assets: Current assets: Cash and cash equivalents $ 42 $ 43 Accounts receivable 75 74 Inventory 54 52 Total current assets 171 169 Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment 612 515 243 276 369 239 Total assets $ 540 $ 408 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 49 $ 53 Accrued liabilities 26 25 Income taxes payable 54 58 Total current liabilities 129 136 Bonds payable 61 55 Total liabilities 190 191 Stockholders' equity: Common stock 36 35 Retained earnings Total stockholders' equity 314 182 350 217 Total liabilities and stockholders' equity $ 540 $ 408
Account Title Balance ($) Accounts Payable 11,700Accounts Receivable 69,000Accumulated Depreciation - Building 44,200Building 439,500Cash 28,000Depreciation Expense - Building 8,750Insurance Expense 2,500Miscellaneous Expense 6,200Prepaid Insurance 2,500Repairs Expense 3,000Rent Expense 48,000Rent Revenue 12,000Salaries Expense 522,100Salaries…