Question

Leskwat Stores has provided you the following list of accounts: Debit Credit Accounts receivable 672 Building...

Leskwat Stores has provided you the following list of accounts:

Debit Credit
Accounts receivable 672
Building and equipment 936
Cash 49
Interest receivable 46
Inventory 20
Land 162
Notes receivable (due in 2 years) 477
Prepaid rent 33
Supplies 10
Trademark 52
Accounts payable 709
Accumulated depreciation 62
Interest payable 470
Dividends payable 20
Common stock 17
Income tax payable 54
Notes payable (due in 6 months) 804
Retained earnings 292
Deferred revenue 29
TOTALS 2,457 2,457


Assume that interest is due every year (for both the note payable and the note receivable). What amount would Leskwat report as total current assets?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores....
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable-trade 696 Building and equipment 935 Cash-checking 38 Interest receivable 37 Inventory 35 Land 153 Notes receivable (long-term) 486 Petty cash fund 6 Prepaid rent 33 Supplies 11 Trademark 58 Accounts payable-trade 691 Accumulated depreciation 67 Additional paid-in capital 481 Allowance for uncollectible accounts 17 Cash dividends payable 23 Common stock, at par 13 Income tax payable 49 Notes payable (long-term)...
1 . Listed below are year-end account balances ($ in millions) taken from the records of...
1 . Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable 679 Building and equipment 921 Cash 58 Interest receivable 40 Inventory 33 Land 163 Notes receivable (long-term) 460 Prepaid rent 20 Supplies 9 Trademark 58 Accounts payable 666 Accumulated depreciation 60 Additional paid-in capital 475 Dividends payable 27 Common stock (at par) 12 Income tax payable 63 Notes payable (long-term) 834 Retained earnings 281 Deferred revenue 23 TOTALS...
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores....
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable–trade 840 Building and equipment 920 Cash–checking 34 Interest receivable 30 Inventory 16 Land 150 Notes receivable (long-term) 450 Petty cash fund 5 Prepaid rent 20 Supplies 8 Trademark 40 Accounts payable–trade 560 Accumulated depreciation 80 Additional paid-in capital 485 Allowance for uncollectible accounts 20 Cash dividends payable 30 Common stock, at par 15 Income tax payable 65 Notes payable (long-term)...
which ones go on debit or credit sides on a trial balance cash accounts receivable merchandise...
which ones go on debit or credit sides on a trial balance cash accounts receivable merchandise inventory supplies prepaid insurance equipment accumulated depreciation accounts payable interest payable notes payable salaries payable taxes payable capital, khile withdrawal, khile sales purchases sales Expense miscellaneous expense supplies expense rent expense depreciation expense interest expense
The following is the ending balances of accounts at December 31, 2018 for the Vosburgh Electronics...
The following is the ending balances of accounts at December 31, 2018 for the Vosburgh Electronics Corporation. Account Title Debits Credits Cash 83,000 Short-term investments 198,000 Accounts receivable 139,000 Long-term investments 43,000 Inventories 223,000 Loans to employees 48,000 Prepaid expenses (for 2019) 24,000 Land 288,000 Building 1,630,000 Machinery and equipment 645,000 Patent 160,000 Franchise 48,000 Note receivable 290,000 Interest receivable 20,000 Accumulated depreciation—building 628,000 Accumulated depreciation—equipment 218,000 Accounts payable 197,000 Dividends payable (payable on 1/16/19) 18,000 Interest payable 24,000 Taxes...
The following shows the ending balances of accounts for A Company as of December 31, 2018....
The following shows the ending balances of accounts for A Company as of December 31, 2018. Account Debits Credits Taxes payable 30,000 Inventory 285,000 Investments 140,000 Retained earnings 202,000 Prepaid expenses 148,000 Accumulated depreciation - equipment 110,000 Deferred revenue 80,000 Cash 65,000 Common stock 400,000 Equipment 320,000 Accounts payable 60,000 Accounts receivable 160,000 Notes payable 200,000 Allowance for uncollectible accounts 16,000 Interest payable 20,000 Total 1,118,000 1,118,000 Additional information: 1. Prepaid expenses include $120,000 paid on December 31, 2018 for...
The following is the ending balances of accounts at December 31, 2018 for the Weismuller Publishing...
The following is the ending balances of accounts at December 31, 2018 for the Weismuller Publishing Company. Account Title Debits Credits Cash 101,000 Accounts receivable 196,000 Inventories 303,000 Prepaid expenses 184,000 Machinery and equipment 356,000 Accumulated depreciation—equipment 128,000 Investments 176,000 Accounts payable 78,000 Interest payable 38,000 Deferred revenue 98,000 Taxes payable 48,000 Notes payable 290,000 Allowance for uncollectible accounts 34,000 Common stock 418,000 Retained earnings 184,000 Totals 1,316,000 1,316,000 Additional information: Prepaid expenses include $156,000 paid on December 31, 2018,...
Accounts Debit Credit Cash $ 25,400 Accounts Receivable 46,800 Allowance for Uncollectible Accounts $ 4,500 Inventory...
Accounts Debit Credit Cash $ 25,400 Accounts Receivable 46,800 Allowance for Uncollectible Accounts $ 4,500 Inventory 20,300 Land 49,000 Equipment 16,500 Accumulated Depreciation 1,800 Accounts Payable 28,800 Notes Payable (6%, due April 1, 2022) 53,000 Common Stock 38,000 Retained Earnings 31,900 Totals $ 158,000 $ 158,000 During January 2021, the following transactions occur: January 2 Sold gift cards totaling $8,600. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account,...
43. An aging of a company's accounts receivable indicates that $13,000 is estimated to be uncollectible....
43. An aging of a company's accounts receivable indicates that $13,000 is estimated to be uncollectible. If the Allowance for Doubtful Accounts has a $2,400 debit balance before adjustment, the adjustment to record bad debts for the period will require a Question 43 options: debit to Bad Debts Expense for $15,400. debit to Bad Debts Expense for $13,000. debit to Bad Debts Expense for $10,600. debit to Allowance for Doubtful Accounts for $13,000. none of the above. 44. Fantastic Fashions...
Account Title Debit Credit Cash $ 5,800 Accounts receivable 29,000 Office supplies 6,353 Trucks 164,000 Accumulated...
Account Title Debit Credit Cash $ 5,800 Accounts receivable 29,000 Office supplies 6,353 Trucks 164,000 Accumulated depreciation—Trucks $ 33,784 Land 47,000 Accounts payable 9,800 Interest payable 18,000 Long-term notes payable 56,000 K. Wilson, Capital 167,463 K. Wilson, Withdrawals 48,000 Trucking fees earned 121,000 Depreciation expense—Trucks 21,791 Salaries expense 54,170 Office supplies expense 20,000 Repairs expense—Trucks 9,933 Totals $ 406,047 $ 406,047    Use the above adjusted trial balance to prepare Wilson Trucking Company’s classified balance sheet as of December 31,...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT