Just Dew It Corporation reports
the following balance sheet information for 2014 and 2015.
JUST DEW...
Just Dew It Corporation reports
the following balance sheet information for 2014 and 2015.
JUST DEW IT CORPORATION
2014 and 2015 Balance Sheets
Assets
Liabilities and Owners’ Equity
2014
2015
2014
2015
Current assets
Current
liabilities
Cash
$
4,000
$
11,280
Accounts payable
$
39,040
$
48,720
Accounts receivable
14,880
20,400
Notes payable
12,960
17,280
Inventory
61,920
90,480
Total
$
80,800
$
122,160
Total
$
52,000
$
66,000
Long-term debt
$
48,000
$
36,000
Owners’ equity
Common stock and paid-in...
WALLIS CORPORATION
Statement of Financial Position
As at December 31, 2014
Assets
2014
2013
Cash
$88,600...
WALLIS CORPORATION
Statement of Financial Position
As at December 31, 2014
Assets
2014
2013
Cash
$88,600
$49,100
Accounts receivable
85,000
59,400
Prepaid insurance
70,000
60,000
Total current assets
243,600
168,500
Property, equipment and vehicles
360,000
305,000
Accumulated depreciation
-110,400
-105,900
Total non-current assets
249,600
199,100
Total Assets
$493,200
$367,600
Liabilities and Shareholders' Equity
Accounts payable
$21,500
$18,600
Wages Payable
3,000
4,000
Total current liabilities
24,500
22,600
Bank loan payable
50,000
60,000
Total liabilities
74,500
82,600
Common...
Balance sheet
December 31
Assets 2007 2006
Cash $25,000 $40,000
Short term investments 15,000 60,000
Accounts...
Balance sheet
December 31
Assets 2007 2006
Cash $25,000 $40,000
Short term investments 15,000 60,000
Accounts receivable 50,000 30,000
Inventory 50,000 70,000
Property, plant and equipment (net) 160,000 200,000
Total assets $300,000 $400,000
Liabilities and stockholders equity
Accounts payable $20,000 $30,000
Short term notes payable 40,000 90,000
Bonds payable 80,000 160,000
Common stock 60,000 45,000
Retained earnings 100,000 75,000
Total liabilities and stockholders equity $300,000 $400,000
Income statement (for the year ended December 31, 2007)
Net sales $360,000
Cost...
FORTEN COMPANY
Comparative Balance Sheets
December 31
Current Year
Prior Year
Assets
Cash
$
58,900
$...
FORTEN COMPANY
Comparative Balance Sheets
December 31
Current Year
Prior Year
Assets
Cash
$
58,900
$
79,500
Accounts receivable
74,830
56,625
Inventory
284,656
257,800
Prepaid expenses
1,270
2,015
Total current assets
419,656
395,940
Equipment
151,500
114,000
Accum. depreciation—Equipment
(39,625
)
(49,000
)
Total assets
$
531,531
$
460,940
Liabilities and Equity
Accounts payable
$
59,141
$
123,675
Short-term notes payable
11,800
7,200
Total current liabilities
70,941
130,875
Long-term notes payable
62,000
54,750
Total liabilities
132,941
185,625
Equity
Common stock, $5...
Balance sheet
December 31
Assets 2007 2006
Cash $25,000 $40,000
Short term investments 15,000 60,000
Accounts...
Balance sheet
December 31
Assets 2007 2006
Cash $25,000 $40,000
Short term investments 15,000 60,000
Accounts receivable 50,000 30,000
Inventory 50,000 70,000
Property, plant and equipment (net) 160,000 200,000
Total assets $300,000 $400,000
Liabilities and stockholders equity
Accounts payable $20,000 $30,000
Short term notes payable 40,000 90,000
Bonds payable 80,000 160,000
Common stock 60,000 45,000
Retained earnings 100,000 75,000
Total liabilities and stockholders equity $300,000 $400,000
Income statement (for the year ended December 31, 2007)
Net sales $360,000
Cost...
Financial Analysis Questions Balance Sheet Health Valley Company
Years ending December 31, 2001 and 2002 2001...
Financial Analysis Questions Balance Sheet Health Valley Company
Years ending December 31, 2001 and 2002 2001 2002 Cash $ 20,000 $
12,000 Accounts receivable 40,000 48,000 Inventory 60,000 50,000
Total current assets $120,000 $110,000 Gross fixed assets $400,000
$450,000 (Accumulated depreciation) (120,000) (150,000) Net fixed
assets $280,000 $300,000 Total assets $400,000 $410,000 Notes
payable 5,000 10,000 Accounts payable to suppliers 25,000 30,000
Accruals 10,000 5,000 Total current liabilities 40,000 45,000
Long-term debt 100,000 140,000 Common stock ($2.00 par value)
60,000...
Tyler Toys, Inc.
Income Statement for Years Ending December 31, 2013 and
2014
2014
2013
Revenue...
Tyler Toys, Inc.
Income Statement for Years Ending December 31, 2013 and
2014
2014
2013
Revenue
$14,147,783
$13,567,385
Cost of goods sold
$-8,448,339
$-8,131,598
Selling, general, and administrative expenses
$-997,405
$-981,777
Depreciation
$-1,498,996
$-1,472,330
EBIT
$3,203,043
$2,981,680
Interest expense
$-376,836
$-355,857
Taxes
$-1,073,959
$-997,813
Net income
$1,752,248
$1,628,010
Tyler Toys, Inc.
Balance Sheet as of December 31, 2013 and
2014
ASSETS
2014
2013
LIABILITIES
2014
2013
Current assets
Current liabilities
Cash
$191,079
$187,689
Accounts payable
$1,545,537
$1,456,598
Investments
$180,682
$120,303...
The comparative
balance sheet for the ZYX Company at December 31, 2019 and 2018 is
as...
The comparative
balance sheet for the ZYX Company at December 31, 2019 and 2018 is
as follows:
12/31/19
12/31/18
Assets:
Cash $146,600
$179,800
Accounts Receivable
224,600 242,000
Merchandise
Inventory 321,600 299,200
Prepaid Expenses
13,400 9,600
Equipment 655,000
537,000
Accumulated
depreciation-equipment (170,800) (132,200)
Total Assets
$1,190,400 $1,135,400
Liabilities and
Stockholders’ Equity
Accounts payable
(merchandise creditors)
$250,200
$237,600
Mortgage note
payable 0 336,000
Common Stock, $10
par 74,000 24,000
Paid in
Capital-common stock 470,000 320,000
Retained Earnings
396,200 217,800
Total...
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...
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...