Reporting Issuance and Retirement of Long-Term Debt
On the basis of the details of the following...
Reporting Issuance and Retirement of Long-Term Debt
On the basis of the details of the following bonds payable and
related discount accounts, indicate the items to be reported in the
Financing Activities section of the statement of cash flows,
assuming no gain or loss on retiring the bonds:
ACCOUNT Bonds
Payable
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Jan.
1
Balance
530,000
Jan.
2
Retire bonds
106,000
424,000
June
30
Issue bonds
318,000
742,000
ACCOUNT Discount on Bond...
Reporting Issuance and Retirement of Long-Term Debt
On the basis of the details of the following...
Reporting Issuance and Retirement of Long-Term Debt
On the basis of the details of the following bonds payable and
related discount accounts, indicate the items to be reported in the
Financing Activities section of the A summary of the cash receipts
and cash payments for a specific period of time, such as a month or
a year.statement of cash flows, assuming no gain or loss on
retiring the bonds:
ACCOUNT Bonds
Payable
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit...
eporting Issuance and Retirement of Long-Term Debt
On the basis of the details of the following...
eporting Issuance and Retirement of Long-Term Debt
On the basis of the details of the following bonds payable and
related discount accounts, indicate the items to be reported in the
Financing Activities section of the statement of cash flows,
assuming no gain or loss on retiring the bonds:
ACCOUNT Bonds
Payable
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Jan.
1
Balance
750,000
2
Retire bonds
150,000
600,000
June
30
Issue bonds
450,000
1,050,000
ACCOUNT Discount on Bonds
Payable...
Reporting Land Transactions on Statement of Cash Flows
On the basis of the details of the...
Reporting Land Transactions on Statement of Cash Flows
On the basis of the details of the following fixed asset
account, indicate the items to be reported on the statement of cash
flows:
ACCOUNT Land
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Jan.
1
Balance
1,218,000
Mar.
12
Purchased for cash
414,000
1,632,000
Oct.
4
Sold for $228,000
195,000
1,437,000
Item
Section of Statement of
Cash Flows
Added or Deducted
Amount
Mar. 12: Purchase of fixed asset
$
Oct....
The comparative balance sheet of Whitman Co. at December 31,
20Y2 and 20Y1, is as follows:...
The comparative balance sheet of Whitman Co. at December 31,
20Y2 and 20Y1, is as follows: 1 Dec. 31, 20Y2 Dec. 31, 20Y1 2
Assets 3 Cash $918,000.00 $964,800.00 4 Accounts receivable (net)
828,900.00 761,940.00 5 Inventories 1,268,460.00 1,162,980.00 6
Prepaid expenses 29,340.00 35,100.00 7 Land 315,900.00 479,700.00 8
Buildings 1,462,500.00 900,900.00 9 Accumulated
depreciation-buildings (408,600.00) (382,320.00) 10 Equipment
512,280.00 454,680.00 11 Accumulated depreciation-equipment
(141,300.00) (158,760.00) 12 Total assets $4,785,480.00
$4,219,020.00 13 Liabilities and Stockholders’ Equity 14 Accounts
payable (merchandise...
16-3 16-11
Reporting Land Transactions on Statement of Cash Flows
On the basis of the details...
16-3 16-11
Reporting Land Transactions on Statement of Cash Flows
On the basis of the details of the following fixed asset
account, indicate the items to be reported on the statement of cash
flows:
ACCOUNT Land
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Jan.
1
Balance
1,160,000
Mar.
12
Purchased for cash
371,000
1,531,000
Oct.
4
Sold for $203,000
174,000
1,357,000
Item
Section of Statement of
Cash Flows
Added or Deducted
Amount
Mar. 12: Purchase of fixed asset...
The comparative balance sheet of Whitman Co. at December 31,
20Y2 and 20Y1, is as follows:...
The comparative balance sheet of Whitman Co. at December 31,
20Y2 and 20Y1, is as follows:
1
Dec. 31, 20Y2
Dec. 31, 20Y1
2
Assets
3
Cash
$918,420.00
$965,310.00
4
Accounts receivable (net)
?828,210.00
762,450.00
5
Inventories
1,268,100.00
1,162,260.00
6
Prepaid expenses
29,220.00
35,270.00
7
Land
315,170.00
479,410.00
8
Buildings
1,463,110.00
901,510.00
9
Accumulated depreciation-buildings
(409,500.00)
(383,260.00)
10
Equipment
512,060.00
454,500.00
11
Accumulated depreciation-equipment
(141,780.00)
(159,530.00)
12
Total assets
$4,783,010.00
$4,217,920.00
13
Liabilities and Stockholders’ Equity
14
Accounts payable (merchandise...
Question 5
On January 1 Weiss Corporation had 60,000 shares of no-par common
stock issued and...
Question 5
On January 1 Weiss Corporation had 60,000 shares of no-par common
stock issued and outstanding. The stock has a stated value of $5
per share. During the year, the following transactions
occurred:
Apr. 1
Issued 10,000 additional shares of common stock for $10 per
share.
June 15
Declared a cash dividend of $1.00 per share to stockholders of
record on June 30.
July 10
Paid the $1.00 cash dividend.
Dec. 1
Issued 4,000 additional shares of common stock...
Prepare Income Statement from following information:
Date
Account Titles
Debit
Credit
2016
$
$
Jan 1...
Prepare Income Statement from following information:
Date
Account Titles
Debit
Credit
2016
$
$
Jan 1
Cash
4,000,000
Common Stock
50,000
Paid-in Capital in Excess of Par: Common Stock
3,950,000
Jan 1
Cash
104,000
Premium on Bonds Payable
4,000
Bonds Payable
100,000
Jan 1
Equipment 1
50,000
Cash
50,000
Jan 1
Equipment 2
550,000
Cash
550,000
Jan 3
Inventory
22,000
Cash
22,000
Apr 1
Building
900,000
Cash
900,000
June 1
Equipment 3
100,000
Cash
100,000
June 1
Inventory
23,000
Cash...
T-ACCOUNTS
CASH
Date
Debit
Credit
.June1
$
1,500,000.00
?
.June2
?
$
100,000.00
.June3
?
$&n
T-ACCOUNTS
CASH
Date
Debit
Credit
.June1
$
1,500,000.00
?
.June2
?
$
100,000.00
.June3
?
$
240,000.00
.June14
?
$
82,500.00
.June2
?
$
2,000.00
.June3
?
$
500.00
.June8
?
$
6,000.00
.June8
?
$
8,000.00
.June8
?
$
3,000.00
.June12
?
$
3,000.00
.June15
?
$
1,500.00
.June15
?
$
162,000.00
.June20
?
$
1,000.00
.June24
$
150,000.00
?
Balance
$
1,040,500.00
?
?
?
?
NOTES
RECEIVABLE
Date
Debit
Credit
.June24
$
100,000.00
?
Balance
$
100,000.00...