Sheffield Company includes in its trial balance for December 31
an item for Accounts Receivable $749,800....
Sheffield Company includes in its trial balance for December 31
an item for Accounts Receivable $749,800. This balance consists of
the following items: Due from regular customers $500,000 Refund
receivable on prior year’s income taxes (an established claim)
14,800 Travel advance to employees 21,500 Loan to wholly owned
subsidiary 44,500 Advances to creditors for goods ordered 55,000
Accounts receivable assigned as security for loans payable 70,000
Notes receivable past due plus interest on these notes 44,000 Total
$749,800 Illustrate how...
Waterway Corporation’s post-closing trial balance at December
31, 2020, is shown as follows.
WATERWAY CORPORATION
POST-CLOSING...
Waterway Corporation’s post-closing trial balance at December
31, 2020, is shown as follows.
WATERWAY CORPORATION
POST-CLOSING TRIAL BALANCE
DECEMBER 31, 2020
Dr.
Cr.
Accounts payable
$ 273,600
Accounts receivable
$ 496,000
Accumulated depreciation—buildings
176,000
Additional paid-in capital in excess
of par—common
1,428,000
From treasury stock
146,000
Allowance for doubtful accounts
32,000
Bonds payable
290,000
Buildings
1,466,000
Cash
198,000
Common stock ($1 par)
182,000
Dividends payable (preferred stock—cash)
4,400
Inventory
569,000
Land
381,000
Preferred stock ($50 par)
450,000
Prepaid expenses
42,000...
Trial Balance
The accounts in the ledger of Hickory Furniture Company as of
December 31, 2016,...
Trial Balance
The accounts in the ledger of Hickory Furniture Company as of
December 31, 2016, are listed in alphabetical order as follows. All
accounts have normal balances. The balance of the cash account has
been intentionally omitted.
Accounts Payable
$42,770
Accounts Receivable
116,900
Cash
?
Common Stock
15,000
Dividends
24,000
Fees Earned
745,230
Insurance Expense
3,600
Land
50,000
Miscellaneous Expense
9,500
Notes Payable
50,000
Prepaid Insurance
21,600
Rent Expense
48,000
Retained Earnings
60,000
Supplies
4,275
Supplies Expense
6,255
Unearned...
Riverbed Corporation’s post-closing trial balance at December
31, 2017, is shown as follows. RIVERBED CORPORATION POST-CLOSING...
Riverbed Corporation’s post-closing trial balance at December
31, 2017, is shown as follows. RIVERBED CORPORATION POST-CLOSING
TRIAL BALANCE DECEMBER 31, 2017 Dr. Cr. Accounts payable $ 160,900
Accounts receivable $ 491,000 Accumulated depreciation—buildings
202,000 Additional paid-in capital in excess of par—common
1,346,000 From treasury stock 165,000 Allowance for doubtful
accounts 28,000 Bonds payable 281,000 Buildings 1,344,000 Cash
171,000 Common stock ($1 par) 206,000 Dividends payable (preferred
stock—cash) 4,100 Inventory 505,000 Land 416,000 Preferred stock
($50 par) 450,000 Prepaid expenses 41,000...
Perfect Advertising Services
Adjusted Trial Balance
December 31, 2018
Balance
Account Title
Debit
Credit
Cash
$14,400...
Perfect Advertising Services
Adjusted Trial Balance
December 31, 2018
Balance
Account Title
Debit
Credit
Cash
$14,400
Accounts Receivable
14,500
Office Supplies
5,900
Land
18,700
Building
49,800
Accumulated Depreciation—Building
$36,900
Furniture
20,100
Accumulated Depreciation—Furniture
13,700
Accounts Payable
10,300
Salaries Payable
7,100
Unearned Revenue
15,500
Corby, Capital
73,800
Corby, Withdrawals
20,500
Service Revenue
38,500
Salaries Expense
26,500
Supplies Expense
9,700
Depreciation Expense—Building
3,100
Depreciation Expense—Furniture
1,100
Advertising Expense
11,500
Total
$195,800
$195,800
Requirement 2. Prepare the statement of
owner's equity for the...
Included in Culver Limited’s December 31, 2020 trial balance are
the following accounts: Accounts Payable $266,000;...
Included in Culver Limited’s December 31, 2020 trial balance are
the following accounts: Accounts Payable $266,000; Obligations
under Lease $176,000; Unearned Revenue $142,000; Bonds Payable
$463,000 (due October 31, 2032); Salaries and Wages Payable
$135,000; Interest Payable $44,000; Income Tax Payable $21,000; and
Notes Payable $102,000 (due on March 31, 2021). On January 31,
2021, Culver finalized refinancing of the notes payable with a new
note payable due on March 31, 2022. The financial statements were
issued on February 28,...
Exercise 15-17
Novak Corporation’s post-closing trial balance at December 31,
2020, is shown as follows.
NOVAK...
Exercise 15-17
Novak Corporation’s post-closing trial balance at December 31,
2020, is shown as follows.
NOVAK CORPORATION
POST-CLOSING TRIAL BALANCE
DECEMBER 31, 2020
Dr.
Cr.
Accounts payable
$ 166,200
Accounts receivable
$ 503,000
Accumulated depreciation—buildings
181,000
Additional paid-in capital in excess
of par—common
1,318,000
From treasury stock
175,000
Allowance for doubtful accounts
30,000
Bonds payable
322,000
Buildings
1,344,000
Cash
194,000
Common stock ($1 par)
180,000
Dividends payable (preferred stock—cash)
3,800
Inventory
535,000
Land
361,000
Preferred stock ($50 par)
500,000
Prepaid...
Exercise 15-17
Splish Corporation’s post-closing trial balance at December 31,
2017, is shown as follows.
SPLISH...
Exercise 15-17
Splish Corporation’s post-closing trial balance at December 31,
2017, is shown as follows.
SPLISH CORPORATION
POST-CLOSING TRIAL BALANCE
DECEMBER 31, 2017
Dr.
Cr.
Accounts payable
$ 467,300
Accounts receivable
$ 457,000
Accumulated depreciation—buildings
197,000
Additional paid-in capital in excess
of par—common
1,229,000
From treasury stock
176,000
Allowance for doubtful accounts
30,000
Bonds payable
324,000
Buildings
1,503,000
Cash
191,000
Common stock ($1 par)
202,000
Dividends payable (preferred stock—cash)
3,700
Inventory
597,000
Land
435,000
Preferred stock ($50 par)
450,000
Prepaid...
Exercise 15-17 Riverbed Corporation’s post-closing trial balance
at December 31, 2017, is shown as follows. RIVERBED...
Exercise 15-17 Riverbed Corporation’s post-closing trial balance
at December 31, 2017, is shown as follows. RIVERBED CORPORATION
POST-CLOSING TRIAL BALANCE DECEMBER 31, 2017 Dr. Cr. Accounts
payable $ 345,900 Accounts receivable $ 488,000 Accumulated
depreciation—buildings 183,000 Additional paid-in capital in excess
of par—common 1,380,000 From treasury stock 169,000 Allowance for
doubtful accounts 33,000 Bonds payable 273,000 Buildings 1,530,000
Cash 172,000 Common stock ($1 par) 180,000 Dividends payable
(preferred stock—cash) 4,100 Inventory 578,000 Land 417,000
Preferred stock ($50 par) 550,000 Prepaid...
LM Company's December 31, 2020 unadjusted trial
balance reported the following accounts:
Accounts Payable ............ $37,000...
LM Company's December 31, 2020 unadjusted trial
balance reported the following accounts:
Accounts Payable ............ $37,000
Accounts Receivable ......... $61,000
Accumulated Depreciation .... $33,000
Cash ........................ $20,000
Common Stock ................ $54,000
Cost of Goods Sold .......... $47,000
Equipment ................... $71,000
Income Tax Expense .......... $12,000
Interest Expense ............ $16,000
Inventory ................... $70,000
Investment Revenue .......... $56,000
Mortgage Payable ............ $40,000
Prepaid Insurance ........... $26,000
Retained Earnings ........... $42,000 (at January 1, 2020)
Sales Revenue ............... $95,000
Trademark ................... $22,000
Unearned...