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The balance sheet account balances of the Dominic Inn at the end of 20X3 are as follows: $ 10,000 150,000 Cash Accounts Receivable Allowance for Doubtful Accounts Food Inventory Prepaid Insurance Investments (long-term) Land Building Equipment Accumulated Depreciation-Building Accumulated Depreciation-Equipment Accounts Payable Wages Payable Income Taxes Payable Current Maturities of Long-Term Debt Long-Term Debt Common Stock Paid-In Capital in Excess of Par Retained Earnings Required: Prepare the balance sheet in accordance with the USALI. 10,000 50,000 12,000 100,000 300,000 14,000,000 850,000 2,500,000 200,000 50,000 20,000 30,000 80,000 9,870,000 650,000 1,000,000 1,062,000

The balance sheet account balances of the Dominic Inn at the end of 20X3 are as follows: $ 10,000 150,000 Cash Accounts Receivable Allowance for Doubtful Accounts Food Inventory Prepaid Insurance Investments (long-term) Land Building Equipment Accumulated Depreciation-Building Accumulated Depreciation-Equipment Accounts Payable Wages Payable Income Taxes Payable Current Maturities of Long-Term Debt Long-Term Debt Common Stock Paid-In Capital in Excess of Par Retained Earnings Required: Prepare the balance sheet in accordance with the USALI. 10,000 50,000 12,000 100,000 300,000 14,000,000 850,000 2,500,000 200,000 50,000 20,000 30,000 80,000 9,870,000 650,000 1,000,000 1,062,000

FINANCIAL ACCOUNTING
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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¡ otel. (Assume the you with some as of December ou have deter- ortion of long- the amount of as $49,765 in of the inven- 1. Assuming what is the n states that is the same 20X2? of Decem- Income Deferred Income Taxes (Long-Term Liability) hj. Other information is as follows: The Spartan Inn's net income for 20X3 was $145,000, and Jerry Spartan withdrew $27,000 during 20X3. for personal Required: use Prepare a balance sheet for the Spartan Inn as of December 31, 20X3, in accordance with the USALI Cash Accounts Receivable Allowance for Doubtful Accounts The balance sheet account balances of the Dominic Inn at the end of 20X3 are as follows: $ 10,000 150,000 10,000 50,000 12,000 100,000 300,000 14,000,000 850,000 2,500,000 200,000 50,000 20,000 30,000 80,000 Food Inventory Prepaid Insurance Investments (long-term) Problem 15 Land Building Equipment Accumulated Depreciation-Building Accumulated Depreciation-Equipment. Accounts Payable Wages Payable Income Taxes Payable Current Maturities of Long-Term Debt Long-Term Debt Common Stock Paid-In Capital in Excess of Par Retained Earnings 10,000 20,000 Required: Prepare the balance sheet in accordance with the USALI. Problem 16 9,870,000 650,000 1,000,000 1,062,000
Transcribed Image Text:¡ otel. (Assume the you with some as of December ou have deter- ortion of long- the amount of as $49,765 in of the inven- 1. Assuming what is the n states that is the same 20X2? of Decem- Income Deferred Income Taxes (Long-Term Liability) hj. Other information is as follows: The Spartan Inn's net income for 20X3 was $145,000, and Jerry Spartan withdrew $27,000 during 20X3. for personal Required: use Prepare a balance sheet for the Spartan Inn as of December 31, 20X3, in accordance with the USALI Cash Accounts Receivable Allowance for Doubtful Accounts The balance sheet account balances of the Dominic Inn at the end of 20X3 are as follows: $ 10,000 150,000 10,000 50,000 12,000 100,000 300,000 14,000,000 850,000 2,500,000 200,000 50,000 20,000 30,000 80,000 Food Inventory Prepaid Insurance Investments (long-term) Problem 15 Land Building Equipment Accumulated Depreciation-Building Accumulated Depreciation-Equipment. Accounts Payable Wages Payable Income Taxes Payable Current Maturities of Long-Term Debt Long-Term Debt Common Stock Paid-In Capital in Excess of Par Retained Earnings 10,000 20,000 Required: Prepare the balance sheet in accordance with the USALI. Problem 16 9,870,000 650,000 1,000,000 1,062,000
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