No. 2:
Abbey INC.
Balance Sheet
Assets
Dec. 31, 2010
Jan. 1, 2010
Inc./Dec.
Equipment
$39,000...
No. 2:
Abbey INC.
Balance Sheet
Assets
Dec. 31, 2010
Jan. 1, 2010
Inc./Dec.
Equipment
$39,000
$22,000
$17,000 Inc.
Less: Accumulated depreciation
-17,000
$(11,000)
6,000 Inc.
Accounts receivable
91000
88,000
3,000 Inc.
Cash
45,000
13,000
32,000 Inc.
Total
$158,000
$112,000
Equity and Liabilities
Share capital—ordinary
100000
$80,000
20,000 Inc.
Retained earnings
38,000
17,000
21,000 Inc.
Accounts payable
20,000
15,000
5,000 Inc.
Total
$158,000
$112,000
Net Income of $34000 was reported and Dividend of $13000 were
paid in 2010. New Equipment...
The comparative balance sheets of Champ Inc. at the beginning
and the end of the year...
The comparative balance sheets of Champ Inc. at the beginning
and the end of the year 2017 are as follows.
CHAMP INC.
BALANCE SHEETS
Dec. 31, 2017
Jan. 1, 2017
Inc./Dec.
Assets
Cash
$ 45,330
$ 13,330
$32,000
Inc.
Accounts receivable
94,070
90,740
3,330
Inc.
Equipment
42,070
24,740
17,330
Inc.
Less: Accumulated Depreciation-Equipment
20,070
11,000
9,070
Inc.
Total
$161,400
$117,810
Liabilities and Stockholders’ Equity
Accounts payable
$ 23,070
$ 17,740
5,330
Inc.
Common stock
100,330
82,740
17,590
Inc.
Retained earnings...
The comparative balance sheets of Metlock Inc. at the beginning
and the end of the year...
The comparative balance sheets of Metlock Inc. at the beginning
and the end of the year 2020 are as follows.
METLOCK INC.
BALANCE SHEETS
Dec. 31,
2020
Jan. 1, 2020
Inc./Dec.
Assets
Cash
$ 47,720
$ 15,720
$32,000
Inc.
Accounts receivable
95,830
90,110
5,720
Inc.
Equipment
43,830
24,110
19,720
Inc.
Less: Accumulated Depreciation-Equipment
21,830
11,000
10,830
Inc.
Total
$165,550
$118,940
Liabilities and Stockholders’ Equity
Accounts payable
$ 24,830
$ 17,110
7,720
Inc.
Common stock
102,720
82,110
20,610
Inc.
Retained earnings...
The comparative balance sheets of Shamrock Inc. at the beginning
and the end of the year...
The comparative balance sheets of Shamrock Inc. at the beginning
and the end of the year 2020 are as follows.
SHAMROCK INC.
BALANCE SHEETS
Dec. 31,
2020
Jan. 1, 2020
Inc./Dec.
Assets
Cash
$ 46,130
$ 14,130
$32,000
Inc.
Accounts receivable
94,430
90,300
4,130
Inc.
Equipment
42,430
24,300
18,130
Inc.
Less: Accumulated Depreciation-Equipment
20,430
11,000
9,430
Inc.
Total
$162,560
$117,730
Liabilities and Stockholders’ Equity
Accounts payable
$ 23,430
$ 17,300
6,130
Inc.
Common stock
101,130
82,300
18,830
Inc.
Retained earnings...
The comparative balance sheets of Cullumber Inc. at the
beginning and the end of the year...
The comparative balance sheets of Cullumber Inc. at the
beginning and the end of the year 2020 are as follows.
CULLUMBER INC.
BALANCE SHEETS
Dec. 31,
2020
Jan. 1, 2020
Inc./Dec.
Assets
Cash
$ 48,060
$ 16,060
$32,000
Inc.
Accounts receivable
95,240
89,180
6,060
Inc.
Equipment
43,240
23,180
20,060
Inc.
Less: Accumulated Depreciation-Equipment
21,240
11,000
10,240
Inc.
Total
$165,300
$117,420
Liabilities and Stockholders’ Equity
Accounts payable
$ 24,240
$ 16,180
8,060
Inc.
Common stock
103,060
81,180
21,880
Inc.
Retained earnings...
The comparative balance sheets of Ayayai Corporation at the
beginning and end of the year 2020...
The comparative balance sheets of Ayayai Corporation at the
beginning and end of the year 2020 appear below. AYAYAI CORPORATION
BALANCE SHEETS Dec. 31, 2020 Jan. 1, 2020 Inc./Dec. Assets Cash
$21,380 $14,480 $6,900 Inc. Accounts receivable 107,380 89,480
17,900 Inc. Equipment 40,380 23,480 16,900 Inc. Less: Accumulated
Depreciation-Equipment (17,000 ) (11,000 ) 6,000 Inc. Total
$152,140 $116,440 Liabilities and Stockholders’ Equity Accounts
payable $21,380 $16,480 4,900 Inc. Common stock 101,380 81,480
19,900 Inc. Retained earnings 29,380 18,480 10,900 Inc....
MONTGOMERY INC.
Comparative Balance Sheets
December 31, 2018 and 2017
2018
2017
Assets
Cash
$
55,900...
MONTGOMERY INC.
Comparative Balance Sheets
December 31, 2018 and 2017
2018
2017
Assets
Cash
$
55,900
$
56,300
Accounts receivable, net
13,800
16,800
Inventory
123,700
97,100
Total current assets
193,400
170,200
Equipment
68,500
57,500
Accum.
depreciation—Equipment
(31,000
)
(21,200
)
Total assets
$
230,900
$
206,500
Liabilities and
Equity
Accounts payable
$
33,000
$
35,200
Salaries payable
600
800
Total current liabilities
33,600
36,000
Equity
Common stock, no par value
165,900
153,100
Retained earnings
31,400
17,400
Total liabilities and
equity...
On Dec 31, 2018, the balance sheets of Paper Inc. and Scissors
Inc. were as follows:...
On Dec 31, 2018, the balance sheets of Paper Inc. and Scissors
Inc. were as follows:
Paper Inc
Scissors Inc
Cash and Short-Term Securities
$400,000
$ 25,000
Inventory
$ 50,000
$ 10,000
Plant and Equipment (net)
$300,000
$120,000
Total Assets
$750,000
$155,000
Current Liabilities
$ 75,000
$ 20,000
Bonds Payable
$100,000
$ 30,000
Common Shares
$150,000
$ 55,000
Retained Earnings
$425,000
$ 50,000
Total Liabilities and Equity
$750,000
$155,000
On that date, the fair values of Scissors's Assets and Liabilities...
1. Terry company's 2017 income statement and comparative balance
sheets at December 31 of 2016 and...
1. Terry company's 2017 income statement and comparative balance
sheets at December 31 of 2016 and 2017are shown.
Terry Company
Income
Statement
For the year Ended December
31, 2017
Sales
$
390,000
Cost of Goods Sold
235,000
_______
Gross Profit
$
155,000
Wages Expenses
$
63,000
Depreciation Expense
14,000
Other Operating Expenses
26,000
Income Tax Expense
17,000
120,000
______
________
Net Income
$
35,000
...
Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $144 $46 Accounts
receivable (net) 82 57 Inventories...
Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $144 $46 Accounts
receivable (net) 82 57 Inventories 51 31 Land 117 130 Equipment 66
50 Accumulated depreciation-equipment (18) (9) Total Assets $442
$305 Liabilities and Stockholders' Equity Accounts payable
(merchandise creditors) $56 $46 Dividends payable 9 - Common stock,
$1 par 29 14 Paid-in capital: Excess of issue price over par—common
stock 73 36 Retained earnings 275 209 Total liabilities and
stockholders' equity $442 $305 The following additional information
is taken...