Question 5 of 7PPrepare a balance sheet at March 31, 2024.SHERIDANBalance SheetCashAccounts ReceivableSuppliesPrepaid InsuranceEquipmentTotal AssetsAccounts Payable#3EMarch 31, 2024DS4##Liabilities and Owner's EquityRAssetsF25%TC6Y1600022000272500113000&60015410011600U Please put the answers asappp!Judy Cumby is the sole owner of Sheridan, a public camping ground near Gros Morne National Park. Judy has gathered the followinfinancial information for the year ended March 31, 2024:Revenues-camping fees$164,000151,000Operating expensesSupplies on handFair value of equipmentAccounts payableAccounts receivableCamping fees collected for April2,500Profit $134,00012,00021,70010,000Your answer is incorrect.Revenues-general storeCash on handOriginal cost of equipmentNotes payableJ. Cumby, capital, April 1, 2023J.Cumby, drawingsInsurance paid for in advance for April to June, 2024Calculate Sheridan's profit for the year.eTextbook and MediaYour answer is incorrect.Calculate Judy's owner's equity as at March 31, 2024.Owner's Equity $$40,00020,200119,00078,00017,0006,000600

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Description: Question 5 of 7PPrepare a balance sheet at March 31, 2024.SHERIDANBalance SheetCashAccounts ReceivableSuppliesPrepaid InsuranceEquipmentTotal AssetsAccounts Payable#3EMarch 31, 2024DS4##Liabilities and Owner's EquityRAssetsF25%TC6Y160002200027250011

Revenue- Camping fees $164000 Add: revenue general stores $40000 Total Revenue.…

Business

Accounting

Question 5 of 7 Prepare a balance sheet at March 31, 2024. SHERIDAN Balance Sheet Cash Accounts Receivable Supplies Prepaid Insurance Equipment Total Assets March 31, 2024 Accounts Payable # # Assets Liabilities and Owner's Equity 16000 22000 2500 600 113000 154100 11600

Question 5 of 7 Prepare a balance sheet at March 31, 2024. SHERIDAN Balance Sheet Cash Accounts Receivable Supplies Prepaid Insurance Equipment Total Assets March 31, 2024 Accounts Payable # # Assets Liabilities and Owner's Equity 16000 22000 2500 600 113000 154100 11600

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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Question 12 of 16 View Policies Current Attempt in Progress Accounts payable Accounts receivable Cash The following is a list of accounts, in alphabetical order, for Cullumber Ltd. at December 31, 2024. All accounts have a normal balance. Accumulated depreciation-equipment Common shares. Deferred revenue Depreciation expense Balance, January 31, 2024 $4,000 9,000 6,500 25,000 10,000 4,700 4,500 7,000 15,000 Income tax expense Office expense Rent expense Retained earnings Salaries expense Salaries payable Service revenue Supplies Supplies expense Prepare a statement of income for the year ended December 31, 2024. CULLUMBER LTD. Statement of Income $ $1,250 6,900. 4,500 26,750 11,600 5,500 37,000 V 6,000 3,700 - /20 $ ⠀
CP 14-8Assume the following income statement and balance sheet information:Service revenue (all cash) Operating expenses Salaries (all cash) Net income$17585$90Current assets 2020 2019 Cash $1,250 $1,600 Short-term invest. 100 200 $1,350 $1,800 Liabilities Borrowings 600 1,000 Stockholders' equity Common stock 200 300 Retained earnings 550 500 750 800 $1,350 $1,800Other information: The short-term investments are riskless and will be converted to a known amount of cash in 60 days. Borrowings are non-current. No gain or loss occurred when common stock was repurchased.Required: 1. Calculate cash flow from operating activities. 2. Prepare the 2020 statement of changes in equity. 3. Calculate cash flow from financing activities. 4. (Appendix) Prepare a cash flow table. Show that cash effects net to a $450 outflow.
ACCT 2241.2 F Assignment #1 Chapter 1 Due date/time: Monday, January 22, 2024, 11:59 Jordan Corporation began operations on March 1, 2023. The following data is available for March 31: Accounts payable Accounts receivable Cash Contributed capital Expenses, excluding income taxes Income taxes, unpaid Inventory Revenues 43,000 22,000 10,000 1,000 80,000 4,000 27,000 95,000 Required: 1. Prepare the income statement for the month ending March 31, 2023. 2. Prepare the balance sheet for March 31, 2023.
s/ui/v2/assessment-player 80 F3 $ OCT 26 4 Q F4 Question 1 of 1 The statement from Jackson County Bank on December 31 showed a balance of $26,662. A comparison of the bank statement with the Cash account revealed the following facts. 1. 2 3. Your answer is incorrect. 4 The bank collected a note receivable of $2,500 for Sheffield Corp. on December 15 through electronic funds transfer. The December 31 receipts were deposited in a night deposit vault on December 31. These depasits were recorded by the bankid January Checks outstanding on December 31 totaled $1.200. On December 31, the bank statement showed an NSF charge of $630 for a check received by the company from L. Bryan, a customer on account Prepare a bank reconciliation as of December 31 based on the available information. (Hint: The cash balance per books is $26,292. This can be proved by finding the balance in the Cash account from parts (a) and (b)) (List items that increase cash balance first Reconcile cash balance per bank…
Item4 11.11points eBookReferences Check my workCheck My Work button is now enabled3 Item 4 Exercise 6-5 (Algo) Cash and cash equivalents LO C2 Specter Company combines cash and cash equivalents on the balance sheet. Using the following information, determine the amount reported on the year-end balance sheet for cash and cash equivalents. $19,000 cash deposit in checking account. $52,000 bond investment due in 20 years. $13,000 U.S. Treasury bill due in 1 month. $1,000, 3-year loan to an employee. $4,200 of currency and coins. $1,300 of accounts receivable.
#8 O Item Prior year Current year Accounts payable 8,100.00 7,786.00 Accounts receivable 6,081.00 6,685.00 Accruals 1,000.00 1,553.00 Cash ??? ??? Common Stock 10,998.00 11,247.00 COGS 12,678.00 18,011.00 Current portion long-term 4,928.00 4,981.00 debt Depreciation expense 2,500 2,774.00 Interest expense 733 417 Inventories 4,250.00 4,824.00 Long-term debt 13,238.00 13,578.00 Net fixed assets 51,887.00 54,423.00 Notes payable 4,300.00 9,879.00 Operating expenses (excl. 13,977 depr.) 18,172 Retained earnings 28,209.00 29,224.00 Sales 35,119 45,333.00 Taxes 2,084 2,775 What is the firm's cash flow from financing? Submit Answer format: Number: Round to: 0 decimal places. unanswered not_submitted Attempts Remaining: Infinity
Balance Sheet for Bearcat Hathaway, 2022 2021 2022 Cash Accounts. Receivable $5,268,485 $10,268,485 Inventory $529,062 $696,685 Current Assets $8,371,777 $13,279,842 Less $2,574,230 $2,314,672 Gross Fixed Assets $16,251,665 $20,567,330 Accum.Depreciation Total Assets $7,460,897 $10,117,819 Accounts Payable Notes. Payable Current Liabilities Calculate the net working capital in 2022. Long Termi Debt Total Liabilities, None of these options are correct $10,572,740 $5,664,675 $8,854,338 $3,946,273 Total $17,162,545 $23,729,353 Liabilities and Equity Capital Surplus Retained. Earnings 2021 2022 $1,673,992 $2,438,271 Common Net Fixed Assets $8,790,768 $10,449,511 Stock ($0.50 $1,300,000 $1,600,000 par) $1,033,110 $1,987,233 $2,707,102 $4,425,504 $9,242,830 $11,468,302 $11,949,932 $15,893,806 $1,148,120 $1,800,969 $2,764,493 $4,434,578 $17,162,545 $23,729,353
Q. 13
QUESTION 13 Assets Liabilities Reserves $200 Deposits $800 Loans $ 700 Debt S100 Securities S 100 Capital $100 Refer to the same T-account. By how much do the assets need to cepreciate for the bank to go insolvent? a.more than 5%% b.more than 1OPE c.more than 8%6 d more tinan 26
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V SC Chapter 1 Homework Question 10 of 10 Cash 1 ! Accounts receivable Service revenue 0 Z Supplies Advertising expense Equipment Common stock On June 1, 2025, Crane Service Co. was started with an initial investment in the company of $26,000 cash. Here are the a liabilities, and common stock of the company at June 30, 2025, and the revenues and expenses for the month of June, its f operations: Q 2 < W $4,850 J 4,250 7,800 2,329 400 30,200 26,000 JAN 26 180 # 3 During June, the company issued no additional stock but paid dividends of $1,521. E Notes payable Accounts payable Supplies expense Maintenance and repairs expense Utilities expense Salaries and wages expense $ 4 Virtual muesum education.wiley.com 000 000 R DOCX % 5 2 T $12,500 6 750 1,100 690 210 1,500 OneDrive Ⓒ MacBook Pro Y & 7 IMG_4270.jpg tv A & & C U * 00 8 -/5 1 E ( S