Connect Access Card for Financial Accounting
9th Edition
ISBN: 9781259738678
Author: Robert Libby, Patricia Libby, Frank Hodge Ch
Publisher: McGraw-Hill Education
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Question
Chapter A, Problem 2CP
1.
To determine
Indicate the amount and classification of marketable securities reported in Notes to Financial Statements by Incorporation UO.
2.
To determine
Indicate the amount spent by Incorporation UO to purchase marketable securities.
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Refer to the Balance Sheet, what is the company's asset to equity?
TABLE P3.2 Balance Sheet, Cyclone Construction Co. (31 December 2012)
Assets
(a) Current assets
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Notes receivable, current -
$389,927.04
16,629.39
Accounts receivable, including
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1,222,346.26
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(c) Property
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244,706.52
(d) Less accumulated depreciation
102,722.51
Net property
141,984.01
(e) Total assets
1,834,553.29
Select the correct response:
2.84
1.84
2.34
2.84
Liabilities
(f) Current liabilities
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The bookkeeper for Geronimo Company has prepared the following
balance sheet at 31/12/2007
Balance sheet for (Geronimo Company) at 31/12/2007
liabilities and owner equity
Assets
ID
ID
Current assets:
Short-term liabilities:
Bills payable
40625 Account payable (A/P)
28000 Long-Term Liabilities:
bonds payable
82350 Long-term notes payable.
Owners' Equity:
Cash
22000
22000
Account receivable(A/R)
Ending inventory
Fixed assets:
35000
Machinery and equipment
Intangible assets:
Patents
40000
54900 Capital
155500
Total
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274500
If you know Current assets 50% from total assets, fixed assets 30% from
total assets, Intangible assets 20% from total assets, Cash 50% from
Current assets
R/ Complete the balance sheet
Below are the titles of a number of debit and credit accounts as they might appear on the statement of financial position of Hayduke
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and credit accounts.
Debit
Interest Accrued on Government
Securities
Notes Receivable
Petty Cash Fund
Government Securities
Treasury Shares
Current Asset
Current Liability
Borderline
Not a Current Item
Credit
Share Capital-Preference
6% First Mortgage Bonds, due in
2029
Preference Dividend, payable Nov.
1,2022
Allowance for Doubtful Accounts
Customers' Advances (on
contracts to be completed next
year)
Chapter A Solutions
Connect Access Card for Financial Accounting
Ch. A - Prob. 1QCh. A - Explain the difference in accounting methods used...Ch. A - Explain how bonds held to maturity are reported on...Ch. A - Explain the application of the cost principle to...Ch. A - Under the fair value method, when and how does the...Ch. A - Under the equity method, why does the investor...Ch. A - Prob. 7QCh. A - Prob. 8QCh. A - Prob. 9QCh. A - Company X owns 40 percent of Company Y and...
Ch. A - Prob. 2MCQCh. A - Dividends received from stock that is reported as...Ch. A - Prob. 4MCQCh. A - Prob. 5MCQCh. A - When using the equity method of accounting, when...Ch. A - Prob. 7MCQCh. A - Prob. 8MCQCh. A - Which of the following is true regarding the...Ch. A - Prob. 10MCQCh. A - Matching Measurement and Reporting Methods Match...Ch. A - Prob. 2MECh. A - Prob. 3MECh. A - Prob. 4MECh. A - Prob. 5MECh. A - Prob. 6MECh. A - Prob. 7MECh. A - Prob. 8MECh. A - Prob. 9MECh. A - Prob. 10MECh. A - Prob. 11MECh. A - Prob. 1ECh. A - Prob. 2ECh. A - Recording Transactions in the Available-for-Sale...Ch. A - Prob. 4ECh. A - Prob. 5ECh. A - Reporting Gains and Losses in the Trading...Ch. A - Prob. 7ECh. A - Prob. 8ECh. A - Prob. 9ECh. A - Prob. 10ECh. A - Prob. 11ECh. A - Prob. 1PCh. A - Prob. 2PCh. A - Prob. 3PCh. A - Prob. 4PCh. A - Prob. 5PCh. A - Comparing Methods to Account for Various Levels of...Ch. A - Prob. 7PCh. A - Recording Investments for Significant Influence LO...Ch. A - Prob. 9PCh. A - Prob. 10PCh. A - Prob. 11PCh. A - Prob. 1APCh. A - Prob. 2APCh. A - Reporting Passive Investments During January 2017,...Ch. A - Prob. 4APCh. A - Prob. 5APCh. A - Prob. 6APCh. A - Prob. 1CONCh. A - Finding Financial Information Refer to the...Ch. A - Prob. 2CPCh. A - Prob. 3CPCh. A - Prob. 4CPCh. A - Prob. 5CPCh. A - Prob. 6CP
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