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…

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Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

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

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

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 13GI

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On January 1, 2021, the general ledger of Tripley Company included the following sccount balances: Accounts Debit Credit $250, 0e 78,0ee Cash Accounts receivable Allowance for uncollectible accounts Inventory Building Accunulated depreciation Land $ 35,800 33,000 223,0ee 48, e00 248,6e0 Accounts payable Notes payable (8x, due in 3 years) 170, e00 216,e00 113,600 242, e00 Conmon stock Retained earnings Totals $816,680 $816, 600 The $33,000 beginning balance of inventory consists of 330 units, esch costing $100. During January 2021, the company had the following transsctions: January 2 Lent $58,000 to an employee by accepting a 6% note due in six Tonths. 5 Purchased 5,000 units of inventory on account for $550,eee ($110 cach) with terms 1/1e, n/30. 8 Returned 100 defective units of inventory purchased on January 5. 15 Sold 4,8ae units of inventory on account for $768,000 ($16e cach) with terms 2/10, n/30. 17 Customers returned 20e units sold on January 15. These units were initially…
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On January 1, 2021, the general ledger of Freedom Fireworks includes the following account balances:Accounts Debit CreditCash $ 11,200Accounts Receivable 34,000Allowance for Uncollectible Accounts $ 1,800Inventory 152,000Land 67,300Buildings 120,000Accumulated Depreciation 9,600Accounts Payable 17,700Common Stock 200,000Retained Earnings 155,400Totals $384,500 $384,500During January 2021, the…
At December 1, 2022, Swifty Corporation Accounts Receivable balance was $12770. During December, Swifty had credit sales of $34200 and collected accounts receivable of $27360. At December 31, 2022, the Accounts Receivable balance is $19610 credit $19610 debit $12770 debit $46970 debit
Soriano Corp.’s accounts receivable subsidiary ledger shows the following information: Customer Account Balance Invoice December 31, 2024 Date Amount Kaya, Inc. 35,180 12/06/24 14,000 11/29/24 21,180 Nyo Co. 20,920 09/27/24 12,000 08/20/24 8,920 Yan Corp. 30,600 12/08/24 20,000 10/25/24 10,600 Kayo Co. 45,140 11/17/24 23,140 10/09/24 22,000 Pa, Inc. 31,600 12/12/24 19,200 12/02/24 12,400 Ba, Corp. 17,400 09/12/24 17,400 The estimated bad debts rates below are based on Soriano Corp.’s receivable collection experience. Age of Accounts Rate 0 to 30 days 1% 31 to 60 days 1.5% 61 to 90 days 3% 91 to 120 days 10% Over 120 days 50% The allowance for bad debts had a debit balance of P 5,500 on December 31, 2024, before adjustment. Based on the above and the results of your audit, answer the following: The accounts receivable under “91 to 120…
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.
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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
termediate Accounting 1.docx Open with Google Docs For Nos. 20-21 Nabangst Corporation reported the following recelvables on December 31, 2018: Accounts recelvable, net of P520,000 allowance for doubtful accounts Interest receivable P3,840,000 190,000 4,000,000 Notes receivable Additional Information: The notes recelvable comprised of the following: P3,000,000 note dated March 31, 2018, with principal and 8% interest payable on March 31, 2019. P1,000,000 note dated October 31, 2018, with principal and interest payable on October 31, 2019. During 2019, sales revenue totaled P21,200,000, cash collected from customers amounted to P19,800,000, and P410,000 in accounts receivable were written off. All sales are made on credit basis. Doubtful accounts expense is recorded at year-end by adjusting the allowance account to an amount equal to 10% of year-end accounts receivable. 20. What amount should be reported as interest income for 2019? P240,000 d. P110,000 a. P80,000 C. b. P60,000 21. What…
How effective is the organization in collecting its receivables? Use the Hillside, Inc. Balance Sheet information in cells A2 through D18 and cells A21 through B38 to complete the Financial Performance Calculations in cells A40 through C60. Table 1: Hillside, Inc. Balance Sheet ($ in Millions) ASSETS LIABILITIES Cash & Marketable Securities 449.90 Accounts Payable 1,611.20 Accounts Receivable 954.80 Salaries Payable 225.20 Inventories 3,645.20 Other Current Liabilities 1,118.80 Other Current Assets 116.60 Total Current Liabilities 2,955.20 Total Current Assets 5,165.27 Other Liabilities 693.40 Machinery & Equipment 1,688.90 Land 1,129.70 Total Liabilities 3,648.60 Buildings 2,348.40 Depreciation (575.60) SHAREHOLDER'S…
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