A comparative balance sheet for Grouper Corporation is presented
below.
December 31
Assets
2017
2016
Cash...
A comparative balance sheet for Grouper Corporation is presented
below.
December 31
Assets
2017
2016
Cash
$ 72,850
$ 22,000
Accounts receivable
84,910
69,060
Inventory
182,910
192,060
Land
73,910
113,060
Equipment
262,910
203,060
Accumulated
Depreciation-Equipment
(71,910
)
(45,060
)
Total
$605,580
$554,180
Liabilities and
Stockholders' Equity
Accounts payable
$ 36,910
$ 50,060
Bonds payable
150,000
200,000
Common stock ($1 par)
214,000
164,000
Retained earnings
204,670
140,120
Total
$605,580
$554,180
Additional information:
1.
Net income for 2017 was
$130,820. No gains...
A comparative balance sheet for Talkington Corporation is
presented below.
December
31
Assets
2017
2016
Cash...
A comparative balance sheet for Talkington Corporation is
presented below.
December
31
Assets
2017
2016
Cash
$68,000
$22,000
Accounts receivable
82,000
66,000
Inventory
170,000
189,000
Land
71,000
110,000
Equipment
280,000
200,000
Accumulated depreciation–equipment
(74,000)
(42,000)
Total
$597,000
$545,000
Liabilities and Stockholders’ Equity
Accounts payable
$34,000
$47,000
Bonds payable
150,000
200,000
Common stock ($1 par)
164,000
164,000
Retained earnings
249,000
134,000
Total
$597,000
$545,000
Additional information:
1.
Net income for 2017 was $155,000; there were no gains or
losses.
2.
Cash...
Exercise 5-16 (Part Level Submission) A comparative balance
sheet for Larkspur Corporation is presented below. December...
Exercise 5-16 (Part Level Submission) A comparative balance
sheet for Larkspur Corporation is presented below. December 31
Assets 2017 2016 Cash $ 72,660 $ 22,000 Accounts receivable 83,490
67,830 Inventory 181,490 190,830 Land 72,490 111,830 Equipment
261,490 201,830 Accumulated Depreciation-Equipment (70,490 )
(43,830 ) Total $601,130 $550,490 Liabilities and Stockholders'
Equity Accounts payable $ 35,490 $ 48,830 Bonds payable 150,000
200,000 Common stock ($1 par) 214,000 164,000 Retained earnings
201,640 137,660 Total $601,130 $550,490 Additional information: 1.
Net income for...
A comparative balance sheet for Carla Vista Corporation is
presented below.
December
31
Assets
2020
2019...
A comparative balance sheet for Carla Vista Corporation is
presented below.
December
31
Assets
2020
2019
Cash
$80,240
$25,960
Accounts receivable
96,760
77,880
Inventory
200,600
223,020
Land
83,780
129,800
Equipment
330,400
236,000
Accumulated depreciation–equipment
(87,320)
(49,560)
Total
$704,460
$643,100
Liabilities and Stockholders’ Equity
Accounts payable
$40,120
$55,460
Bonds payable
177,000
236,000
Common stock ($1 par)
193,520
193,520
Retained earnings
293,820
158,120
Total
$704,460
$643,100
Additional information:
1.
Net income for 2020 was $182,900; there were no gains or
losses.
2....
A comparative balance sheet for Corona Co is presented
below.
December 31
Assets
2020
2019
Cash...
A comparative balance sheet for Corona Co is presented
below.
December 31
Assets
2020
2019
Cash
$140,000
$ 50,000
Accounts receivable
160,000
140,000
Inventory
340,000
378,000
Land
140,000
220,000
Equipment
600,000
400,000
Accumulated depreciation–equipment
(160,000)
(90,000)
Total
$1,220,000
$1,098,000
Liabilities and Stockholders’ Equity
Accounts payable
$ 70,000
$ 100,000
Bonds payable
300,000
100,000
Common stock ($1 par)
328,000
340,000
Retained earnings
522,000
558,000
Total
$1,220,000
$1,098,000
Additional information:
1. Net income for
2020 was $300,000; there were no gains or losses.
2. Cash...
A comparative balance sheet for Cullumber Corporation is
presented below. December 31 Assets 2020 2019 Cash...
A comparative balance sheet for Cullumber Corporation is
presented below. December 31 Assets 2020 2019 Cash $72,080 $23,320
Accounts receivable 86,920 69,960 Inventory 180,200 200,340 Land
75,260 116,600 Equipment 296,800 212,000 Accumulated
depreciation–equipment (78,440) (44,520) Total $632,820 $577,700
Liabilities and Stockholders’ Equity Accounts payable $36,040
$49,820 Bonds payable 159,000 212,000 Common stock ($1 par) 173,840
173,840 Retained earnings 263,940 142,040 Total $632,820 $577,700
Additional information: 1. Net income for 2020 was $164,300; there
were no gains or losses. 2. Cash...
Waterway Corporation
Balance Sheet
December 31, 2016 and December 31, 2017
2016
Dr.
Cr.
2017
Assets...
Waterway Corporation
Balance Sheet
December 31, 2016 and December 31, 2017
2016
Dr.
Cr.
2017
Assets
Cash
$120,900
$274,350
Accounts Receivable
286,750
279,000
Inventory
185,000
185,000
Investments
114,700
80,600
Equipment
372,000
461,900
Accummulated Depreciation
(137,950)
(164,300)
Total
$941,400
$1,116,550
Liabilities and Stockholders' Equity
Accounts Payable
$234,050
$207,700
Bonds Payable
185,000
130,000
Common Stock
248,000
303,000
Retained Earnings
274,350
475,850
Total
$941,400
-
-
$1,116,550
Additional Information:
1. Net income for 2017
$248,000
2. Investments were sold at a loss of...
Comparative balance sheets for International Company are
presented below.
INTERNATIONAL COMPANY
Comparative Balance Sheets
December 31...
Comparative balance sheets for International Company are
presented below.
INTERNATIONAL COMPANY
Comparative Balance Sheets
December 31
Assets
2017
2016
Cash
$72,390
$22,170
Accounts receivable
84,130
76,470
Inventory
180,110
188,840
Land
75,720
101,410
Equipment
250,630
200,400
Accumulated depreciation—equipment
(65,830
)
(41,180
)
Total
$597,150
$548,110
Liabilities and Stockholders’ Equity
Accounts payable
$33,340
$46,050
Bonds payable
149,100
200,490
Common stock ($1 par)
213,680
164,500
Retained earnings
201,030
137,070
Total
$597,150
$548,110
Additional information:
1.
Net income for 2017 was $135,850.
2.
Cash...
A comparative balance sheet for the Kris Kringle Corporation is
presented below:
KRIS KRINGLE CORPORATION
Comparative...
A comparative balance sheet for the Kris Kringle Corporation is
presented below:
KRIS KRINGLE CORPORATION
Comparative Balance Sheet
2018
2017
Assets
Cash
$ 37,000
$ 31,000
Accounts receivable (net)
80,000
60,000
Prepaid insurance
22,000
17,000
Land
18,000
40,000
Equipment
70,000
60,000
Accumulated depreciation
(20,000)
(13,000)
Total Assets
$207,000
$195,000
Liabilities and Stockholders' Equity
Accounts payable
$ 12,000
$ 6,000
Bonds payable
27,000
19,000
Common stock
140,000
115,000
Retained earnings
28,000
55,000
Total liabilities and...
Rodriquez Corporation’s comparative balance sheets are presented
below.
RODRIQUEZ CORPORATION
Comparative Balance Sheets
December 31
2017...
Rodriquez Corporation’s comparative balance sheets are presented
below.
RODRIQUEZ CORPORATION
Comparative Balance Sheets
December 31
2017
2016
Cash
$17,000
$17,500
Accounts receivable
25,000
22,400
Investments
19,850
16,050
Equipment
60,050
69,750
Accumulated depreciation—equipment
(13,750
)
(10,400
)
Total
$108,150
$115,300
Accounts payable
$14,750
$11,250
Bonds payable
10,400
30,000
Common stock
49,500
45,200
Retained earnings
33,500
28,850
Total
$108,150
$115,300
Additional information:
1.
Net income was $18,450. Dividends declared and paid were
$13,800.
2.
Equipment which cost $9,700 and had accumulated depreciation...