The Pandora Company made the following errors on 12/31/19:•Recorded the expiration of prepaid insurance by debiting Sales Revenue and crediting Depreciation Expense for$12.• Recorded the issuance of 10-year bonds at par value by debiting Unearned Revenue and crediting CommonStock for $13.12/31/19 Total Stockholders' Equity is in error by:Select one:a. $12O b. $0c. $13d. $2e. $25

Error 1:Recorded the expiration of prepaid insurance by debiting Sales Revenue and crediting…

Answered: The Pandora Company made the following…

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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The following accounts and corresponding balances were drawn from Dexter Company's Year 2 and Year 1 year-end balance sheets. Account Title Bonds payable Common stock Year 2 $216,800 375,100 Year 1 $300,200 283,500 Other information drawn from the accounting records: 1. Dividends paid during the period amounted to $43,500. 2. There were no bond liabilities issued during the period. Required a. Compute the amount of cash flow associated with the repayment of bond liabilities. b. Compute the amount of cash flow associated with the issue of common stock. c. Prepare the financing activities section of the statement of cash flows. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the amount of cash flow associated with the repayment of bond liabilities. Cash flow for the repayment of bond liabilities 13
Financial Statements from the End-of-Period Spreadsheet Triton Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was prepared for the year ended April 30, 20Y3: During the year ended April 30, 20Y3, common stock of $5,000 vwas issued. Triton Consulting End-of-Period Spreadsheet For the Year Ended April 30, 20Y3 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 21,500 21,500 Accounts Receivable 51,150 51,150 Supplies 2,400 1,650 750 Office Equipment 32,000 32,000 Accumulated Depreciation 4,500 900 5,400 Accounts Payable 3,350 3,350 Salaries Payable 2,000 2,000 Common Stock 20,000 20,000 Retained Earnings 52,200 52,200 Dividends 10,000 10,000 Fees Earned 279,000 279,000 Salary Expense 240,000 2,000 242,000 Supplies Expense 1,650 1,650 Depreciation Expense 900 900 Miscellaneous Expense 2,000 2,000 359,050 359,050 4,550 4,550 361,950 361,950
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Based on the following data and assuming that the common stock account balance is $63000, what is the balance in retained earnings? Accounts payable $88000 Accounts receivable 51000 Cash 87000 Inventory 155000 Buildings 166000 Bonds payable 517000 Supplies 10300 Notes payable 66000 Equipment 351000 $149300 $240300 $86300 $174300
Estefan’s accounts showed a gross profit for the year of £27,200. After the accounts were prepared it was found that the opening inventory/stock had been overstated by £1,200 while closing inventory/stock had been understated by £1,700. What is the amount of Estefan’s corrected gross profit for the year? Answers: a. £24,300 b. £26,700 c. £27,700 d. £30,100
A7 please help....
H2. Account
am. 11.
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The following accounts and corresponding balances were drawn from Dexter Company’s Year 2 and Year 1 year-end balance sheets. Account Title Year 2 Year 1 Bonds payable $212,100 $300,800 Common stock 373,200 275,300 Other information drawn from the accounting records: Dividends paid during the period amounted to $42,100. There were no bond liabilities issued during the period. Requireda. Compute the amount of cash flow associated with the repayment of bond liabilities.b. Compute the amount of cash flow associated with the issue of common stock.c. Prepare the financing activities section of the statement of cash flows.
The information on the following page was obtained from the records of Breanna Incorporated: $ 10, 200 50,800 128,000 9,500 64,500 Accounts receivable Accumulated depreciation Cost of goods sold Income tax expense Cash Net sales Equipment Selling, general, and administrative expenses Common stock (8,200 shares) Accounts payable Retained earnings, 1/1/22 Interest expense Merchandise inventory Long-term debt Dividends declared and paid during 2022 Except as otherwise indicated, assume that all balance sheet items reflect account balances at December 31, 2022, and that all income statement items reflect activities that occurred during the year ended December 31, 2022. There were no changes in paid-in capital during the year. Required: a. Prepare an income statement and statement of changes in stockholders' equity for the year ended December 31, 2022, and a balance sheet at December 31, 2022, for Breanna Incorporated. Based on the financial statements that you have prepared for part a,…

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