The following list of accounts is from the adjusted trial balance for Monty Corporation: Accounts payable Accounts receivable Accumulated depreciation-buildings Accumulated depreciation-equipment Advertising expenses Buildings Cash Common shares Cost of goods sold Deferred revenue Depreciation expense $128,640 179,520 94,080 217,920 107,520 410,880 68,160 220,800 1.069,440 30,720 180,480 Equipment Income tax expense Insurance expense Inventory Land Loan payable (due in 2 years) Prepaid expenses Property tax payable Refund liability Salaries expense Salaries payable Sales 4 $907,200 58,560 112,320 222,720 1,056,000 1,872,000 27,840 17,280 20.160 744.960 24.960 2.519.040

The following list of accounts is from the adjusted trial balance for Monty Corporation: Accounts payable Accounts receivable Accumulated depreciation-buildings Accumulated depreciation-equipment Advertising expenses Buildings Cash Common shares Cost of goods sold Deferred revenue Depreciation expense $128,640 179,520 94,080 217,920 107,520 410,880 68,160 220,800 1.069,440 30,720 180,480 Equipment Income tax expense Insurance expense Inventory Land Loan payable (due in 2 years) Prepaid expenses Property tax payable Refund liability Salaries expense Salaries payable Sales 4 $907,200 58,560 112,320 222,720 1,056,000 1,872,000 27,840 17,280 20.160 744.960 24.960 2.519.040

Name: Determine the amount of Monty's current assets and current liabilitie
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Determine the amount of Monty's current assets and current liabilities.Total current assetsTotal current liabilities $2 Type here to searcheTextbook and MediaSave for Later The following list of accounts is from the adjusted trial balance for Monty

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Subject-Acounting
Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end December 31 follow. Debit Credit a. Interest revenue $ 15,900 b. Depreciation expense—Equipment $ 35,900 c. Loss on sale of equipment 27,750 d. Accounts payable 45,900 e. Other operating expenses 108,300 f. Accumulated depreciation—Equipment 73,500 g. Gain from settlement of lawsuit 45,900 h. Accumulated depreciation—Buildings 178,300 i. Loss from operating a discontinued segment (pretax) 20,150 j. Gain on insurance recovery of tornado damage 31,020 k. Net sales 1,017,500 l. Depreciation expense—Buildings 53,900 m. Correction of overstatement of prior year’s sales (pretax) 17,900 n. Gain on sale of discontinued segment’s assets (pretax) 43,500 o. Loss from settlement of lawsuit 25,650 p. Income…
1. From the following balances of Kalam Plc., as at 31.12.20 Prepare Financial statement. DEBIT CREDIT RO'000 RO'000 Trade receivables - Trade payables - Administration expenses Selling and Distribution Expenses - Dividend paid Interest paid - Audit fees Rent for office Revenue- Cost of sales- Motor vehicles (cost) Accumulated depreciation: Motor vehicles (1.1.20) Equipment (31.12.20) Accumulated depreciation: Equipment (1.1.20) Bank loan (10%) Retained earnings (1.1.20) Reserves and surplus Cash at bank Inventories (31.12.20) Share capital (£1) 2070 1800 2835 360 450 1440 162 22437 12960 15390 3519 32967 3240 5670 4500 4002 1200 54 2430 7290 62388 62388
Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton CompanyAdjusted Trial BalanceDecember 31 AccountNo. DebitBalances CreditBalances Cash 11 6,946 Accounts Receivable 12 2,302 Prepaid Expenses 13 632 Equipment 18 14,319 Accumulated Depreciation 19 1,405 Accounts Payable 21 1,499 Notes Payable 22 4,301 Bob Steely, Capital 31 15,223 Bob Steely, Drawing 32 634 Fees Earned 41 7,214 Wages Expense 51 3,364 Rent Expense 52 829 Utilities Expense 53 351 Depreciation Expense 54 172 Miscellaneous Expense 59 93 Totals 29,642 29,642 Determine the net income (loss) for the period.
create a balance sheet for the following: Adjusted Trial Balance Account Titles Dr Cr Cash 26,143 Equity securities portolio 47,521 Fair value adjustment 3,585 Accounts receivable 284,171 Allowance for doubtful accounts 14,209 Inventory 623,636 Prepaid insurance 11,080 Land 414,518 Buildings 1,455,667 Accumulated depreciation-bldg 490,534 Equipment 1,041,038 Accumulated depreciation-equip 337,259 Deferred tax asset 6,000 Patent 17,970 Accounts payable 205,799 Income taxes payable 108,659 Note payable 42,000 Bonds payable 300,000 Premium on bonds payable 16,038 Preferred stock (5%, $100 par) 200,000 Common stock ($10 par value) 400,000 Paid-In capital in excess of par 471,999 Retained earnings 934,729 Dividends 90,000 Sales revenue 4,634,536 Cost of goods sold 3,172,647 Salaries and wages expense 580,593 Advertising expense 65,641 Depreciation expense 161,167…
! Required information [The following information applies to the questions displayed below.] Psymon Company, Ic., sells construction equipment. The annual fiscal period ends on December 31. The following adjusted trial balance was created from the general ledger accounts on December 31: Account Titles Debits Credits $ 45,190 19,200 69,500 53,000 Cash Accounts Receivable Inventory Property and Equipment Accumulated Depreciation Accounts Payable $ 22,300 32,100 96,000 12, 200 179,600 Common Stock Retained Earnings, January 1 Sales Revenue Cost of Goods Sold Salaries and Wages Expense Office Expenses Interest Expense Income Tax Expense 105, 200 18, 200 19, 200 2,300 10,410 $342, 200 Totals $342, 200 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Profit Percentage %
prepare income statement ans statement of comprehensive income
Use the following data from Burt Co., taken from the ledger after adjustment on December 31 the end of the fiscal year. Accounts Payable $97,200 Accounts Receivable 64,300 Accumulated Depreciation-Office Equipment 72,750 Accumulated Depreciation-Store Equipment 162,100 Administrative Expenses 56,500 Cash 53,000 Cost of Merchandise Sold 121,700 Interest Expense 12,000 Maeve Burt, Capital 81,750 Maeve Burt, Drawing 52,000 Merchandise Inventory 93,250 Note Payable (due in two years) 154,000 Office Equipment 149,750 Prepaid Insurance 6,500 Rent Revenue 17,500 Salaries Payable 28,700 Sales 365,500 Selling Expenses 41,500 Store Equipment 325,000 Supplies 4,000
Based on the accounts shown below in the Partial Adjusted Trial Balance dated 12/31/20xx, what is the total dollar ($) amount of the Debits? Normal Account Balance Account Name Cash $15,000 Inventory $9,000 Equipment $90,738 Accumulated Depreciation $1,396 Deferred Revenue $4,000 Common Stock $75,267 Revenue $40,000 Sales Return $3,858 Cost of Goods Sold $3,000 Interest Expense $15,000 Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 ASUS
Prepare journal entries and adjusting entries for the following transactions. Please show your work.
Complete a general ledger based on the below
The adjusted trial balance of One Incorporated showed the following at year end: Debit Credit Accounts Payable 1,960,000 Accounts Receivable 1,280,000 Accrued Interest - Note A 30,000 Accrued Interest - Note X 200,000 Accrued Interest - Note Y 50,000 Accrued Interest- Note B 24,000 Accumulated Depreciation - Factory Building 325,000 Accumulated Depreciation- Admin. Building 200,000 Accumulated Depreciation of Machinery and Equipment 270,000 Administrative Building 1,000,000 Advances to Customers 148,000 Advances to Suppliers 149,000 Allowance for Doubtful Accounts 58,000 Bonds Payable 2,000,000 Cash 540,000 Cash fund for acquisition of Building 1,500,000…