im.2answer must be in table format or i wil give down vote The following information is available for Oriole Inc.Accounts receivable$2,112Cash$5,500Accounts payable3,256Supplies3,308Interest payable512Unearned service revenue748Salaries and wages expense3,960Service revenue36,008Notes payable27,720Salaries and wages payable656Common stock44,616Depreciation expense588Inventory2,500Equipment (net)95,216Using the information above, prepare a balance sheet as of December 31, 2022. (Hint: Solve for the missing retained(List Assets in order of liquidity.)Oriole, Inc.Balance SheetDecember 31, 2022

A balance sheet is a financial statement that presents a company's financial position at a specific…

Answered: The following information is available…

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter16: Financial Statements And Closing Entries For A Corporation

Section: Chapter Questions

Problem 5AP

See similar textbooks

Similar questions

The Bramble Company received $820 on account frana cto The transaction was eneously recorded as a detto Cashf $280 and a cradit to Accounts Payable of 5280 The correcting entry is O Accounts Payable Cav Accounts Receivable Accounts Payable Cash Acourts Receivable Accounts Payable Cah Accounts Payable Accounts Receivable 820 140 200 540 290 200 1300 820 240
Use the following information from financial statements of Hamilton Inc. Information from Balance Sheet Accounts: 12/31/2020 12/31/2021 Accounts receivable, gross Allowance for uncollectible accounts 5,000 70,000 90,000 Advances from customers 1,600 600 Information from Income Statement Accounts: Revenue (gross) carned during 2021 277,000 Bad debt expense in 2021 5,200 Other Information: Accounts receivable of 3,900 were written off during the year 2021.
Complete a Vertical analysis of the "Unearned revenue" account using the balance sheet as at 30/06/2021. Round the percentage change to one decimal place
a
What is the solution to the question I uploaded
The details of the accounts receivable of AA Corporation as December 31, 2022 shows the following: Beginning balance P3,450,000 Sales on account made to customers 2,800,000 Collection of accounts receivable during the year 4,200,000 Accounts written off as uncollectible 90,000 The following transactions were included in the recorded transactions during the year: 1. Invoice dated December 28, 2022 for P350,000 was shipped and received by the buyer on December 31, 2022, this invoice was recorded in the book at P35,000. 2. Invoice dated and recorded on November 30, 2022 was erroneously priced at P32 per unit. There were 11,000 units of goods delivered which were received on December 10, 2022. The agreed price should be at P22 per unit only. AA's policy is to provide 5% of the outstanding balance of accounts receivable as uncollectible and there is beginning balance of allowance for bad debts of P40,000. Statement 1: The amount of bad debt expense in 2022 is P158,250. Statement 2: The…
A company reports the following: Sales $572,320Average accounts receivable (net) 20,440
The general ledger of Zips Storage at January 1, 2021, includes the following account balances:Accounts Debits CreditsCash $ 24,600Accounts Receivable 15,400Prepaid Insurance 12,000Land 148,000Accounts Payable $ 6,700Deferred Revenue 5,800Common Stock 143,000Retained Earnings 44,500Totals $200,000 $200,000The following is a summary of the transactions for the year:1. January 9 Provide storage services for cash, $134,100, and on account, $52,200.2. February 12 Collect on accounts receivable, $51,500.3. April 25 Receive cash in advance from customers, $12,900.4. May 6 Purchase supplies on account, $9,200.5. July 15 Pay property taxes, $8,500.6. September 10 Pay on accounts payable,…
Accounts receivable analysis. The following data are taken from the financial statement of sigmon Inc. Terms of all sales are 2/ 10, n / 45. Accounts receivable the end of the year $725,000 20y3 $ 650,000 20y2 $600,000 20y 1 Sales on account 5,637,500 20y 3 4,687,500 20y 2 A. 20y 2 and 20 y3, determine (1) the accounts receivable turnover and (2) the number of days sales in receivable. Round interim calculations to the nearest dollar final answer to one decimal place assume a 365-day year. 1. Accounts receivable turnover 20y3 2. Number of days sales in receivable 20y2 B. The collection of accounts receivable has_______ this can be seen in both the_______ in accounts receivable turnover and the_______ in the collection period.
The comparative balance sheet of Merrick Equipment Co. for Dec. 31, 20Y9 and 20Y8, is:Dec. 31, 20Y9 Dec. 31, 20Y8AssetsCash $70,720 $47,940Accounts receivable (net) 207,230 188,190Inventories 298,520 289,850Investments 0 102,000Land 295,800 0Equipment 438,600 358,020Accumulated depreciation—equipment (99,110) (84,320)Total assets $1,211,760 $901,680Liabilities and Stockholders' EquityAccounts payable (merchandise creditors) $205,700 $194,140Accrued expenses payable (operating expenses) 30,600 26,860Dividends payable 25,500 20,400Common stock, $1 par 202,000 102,000Paid-in capital: Excess of issue price over par—common stock 354,000 204,000Retained earnings 393,960 354,280Total liabilities and stockholders' equity $1,211,760 $901,680The income statement for the year ended December 31, 20Y9, is as follows:Sales $2,023,898Cost of goods sold 1,245,476Gross profit $778,422Operating expenses:Depreciation expense $14,790Other operating expenses 517,299Total operating expenses 532,089Operating…
Interest Revenue on the income statement is $3.900, beginning Interest Receivable is $360, ending Interest Receivable is $420, and Net Sales Revenue is $31,800. What is the cash receipt for interest? OA. $27,860 OB $3,100 OC. $3,140 OD. $3.860
Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21…

SEE MORE QUESTIONS

Recommended textbooks for you

Century 21 Accounting General Journal

Accounting

ISBN:

9781337680059

Author:

Gilbertson

Publisher:

Cengage

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

Century 21 Accounting General Journal

Accounting

ISBN:

9781337680059

Author:

Gilbertson

Publisher:

Cengage

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS