Stockton Company Adjusted Trial Balance December 31 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals Determine the total assets. 5,945 2,979 712 13,200 753 2,233 769 455 178 73 27,297 10,134 1,693 4,499 1,000 3,301 6,670 27,297

Stockton Company Adjusted Trial Balance December 31 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals Determine the total assets. 5,945 2,979 712 13,200 753 2,233 769 455 178 73 27,297 10,134 1,693 4,499 1,000 3,301 6,670 27,297

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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On the basis of the following data related to assets due within one year for simmons Co. prepared partial balance sheet in good from at december 31, show total current asset Cash 96,000 Notes receivable 50,000 Accounts receivable 275,000 Allowance for Doubtfull Account 40,000 Interest Receivable 1,000
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Changes in Current Operating Assets and Liabilities Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $20,300 $25,000 Inventory 85,100 76,000 Accounts payable 18,100 22,100 Dividends payable 24,000 23,000 Adjust net income of $104,000 for changes in operating assets and liabilities to arrive at net cash flows from operating activities.
Cash Accounts receivable Inventory Equipment Assets DIMSDALE SPORTS COMPANY Liabilities Less: Accumulated depreciation Equipment, net Total assets Balance Sheet December 31 Liabilities and Equity Accounts payable Loan payable Taxes payable (due March 15) Equity $636,000 79,500 $ 350,000 12,000 91,000 $ 21,000 520,000 157,500 $ 471,000 331,000 556,500 $ 1,255,000 $ 453,000 Common stock Retained earnings Total stockholders' equity Total liabilities and equity To prepare a master budget for January, February, and March, use the following information. 802,000 $ 1,255,000 a. The company's single product is purchased for $30 per unit and resold for $56 per unit. The inventory level of 5,250 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, 7,500 units; February, 9,250 units; March, 11,500 units; and April, 10,500 units. All sales are on credit. b. Cash receipts from sales are budgeted as follows:…
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mework Assignment i Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity RELETEORRE Interest expense Income tax expense Total costs and expenses Net income KEREKE Earnings per share DENNE SLAP BOGATE Current Year For both the current year and one year ago, compute the following ratios: $ 32,893 100, 248 123,571 10,593 307,446 $574,751 monosokom. $ 144,544 105,892 162,500 161,815 $574, 751 $ 455,777 231, 625 12,702 9,713 The company's income statements for the current year and 1 year ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Current Year…
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Classified Balance Sheet The Werthman Company collected the following information for the preparation of its December 31 classified balance sheet: Accounts receivable $15,000 Property, plant, and equipment $200,000 Cash 17,000 Inventory 65,000 Other current assets 25,000 Other long-term assets 40,000 Accounts payable 21,000 Common stock 95,000 Long-term liabilities 55,000 Retained earnings Other current liabilities 18,000 Prepare a classified balance sheet for Werthman Company. Werthman Company Balance Sheet December 31 Assets Liabilities & Stockholders' Equity Current Assets: Current Liabilities: Other current liabilities Total Current Liabilities Other current assetS Noncurrent Liabilities: Total Current Assets Total Liabilities Noncurrent Assets: Stockholders' Equity Common stock Other long-term assets Total Noncurrent Assets Total Stockholders' Equity Total Assets Total Liabilities & Stockholders' Equity $
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