Dive In Company was started several years ago by two diving
instructors. The company’s comparative balance...
Dive In Company was started several years ago by two diving
instructors. The company’s comparative balance sheets and income
statement are presented below.
Current Year
Previous Year
Balance Sheet at
December 31
Cash
$
4,180
$
5,015
Accounts Receivable
1,700
850
Prepaid Expenses
170
85
$
6,050
$
5,950
Salaries and Wages Payable
$
700
$
1,800
Common Stock
1,900
1,350
Retained Earnings
3,450
2,800
$
6,050
$
5,950
Income
Statement
Service Revenue
$
41,650
Salaries...
Heads Up Company was started several years ago by two hockey
instructors. The company’s comparative balance...
Heads Up Company was started several years ago by two hockey
instructors. The company’s comparative balance sheets and income
statement follow, along with additional information. Current Year
Previous Year Balance Sheet at December 31 Cash $ 6,300 $ 4,500
Accounts Receivable 1,000 1,950 Equipment 6,600 6,000 Accumulated
Depreciation—Equipment (1,700 ) (1,350 ) $ 12,200 $ 11,100 Accounts
Payable $ 500 $ 1,100 Salaries and Wages Payable 400 750 Note
Payable (long-term) 1,500 500 Common Stock 6,000 6,000 Retained
Earnings 3,800...
Heads Up Company was started several years ago by two hockey
instructors. The company’s comparative balance...
Heads Up Company was started several years ago by two hockey
instructors. The company’s comparative balance sheets and income
statement follow, along with additional information. Current Year
Previous Year Balance Sheet at December 31 Cash $ 6,180 $ 4,160
Accounts Receivable 890 1,730 Equipment 5,390 4,900 Accumulated
Depreciation—Equipment (1,480 ) (1,240 ) $ 10,980 $ 9,550 Accounts
Payable $ 710 $ 1,200 Salaries and Wages Payable 510 750 Note
Payable (long-term) 1,600 500 Common Stock 4,900 4,900 Retained
Earnings 3,260...
1. Terry company's 2017 income statement and comparative balance
sheets at December 31 of 2016 and...
1. Terry company's 2017 income statement and comparative balance
sheets at December 31 of 2016 and 2017are shown.
Terry Company
Income
Statement
For the year Ended December
31, 2017
Sales
$
390,000
Cost of Goods Sold
235,000
_______
Gross Profit
$
155,000
Wages Expenses
$
63,000
Depreciation Expense
14,000
Other Operating Expenses
26,000
Income Tax Expense
17,000
120,000
______
________
Net Income
$
35,000
...
A comparative balance sheet and income statement is shown for
Cruz, Inc. CRUZ, INC. Comparative Balance...
A comparative balance sheet and income statement is shown for
Cruz, Inc. CRUZ, INC. Comparative Balance Sheets December 31, 2015
2015 2014 Assets Cash $ 94,800 $ 24,000 Accounts receivable, net
41,000 51,000 Inventory 85,800 95,800 Prepaid expenses 5,400 4,200
Total current assets 227,000 175,000 Furniture 109,000 119,000
Accum. depreciation—Furniture (17,000 ) (9,000 ) Total assets $
319,000 $ 285,000 Liabilities and Equity Accounts payable $ 15,000
$ 21,000 Wages payable 9,000 5,000 Income taxes payable 1,400 2,600
Total current...
Presented below is the 2018 income statement and comparative
balance sheet information for Tiger Enterprises.
TIGER...
Presented below is the 2018 income statement and comparative
balance sheet information for Tiger Enterprises.
TIGER ENTERPRISES
Income Statement
For the Year Ended December 31, 2018
($ in thousands)
Sales
revenue
$
13,000
Operating
expenses:
Cost of goods
sold
$
4,600
Depreciation
360
Insurance
700
Administrative
and other
3,000
Total operating
expenses
8,660
Income before
income taxes
4,340
Income tax
expense
1,736
Net income
$
2,604
Balance Sheet
Information ($ in thousands)
Dec. 31,2018
Dec. 31, 2017
Assets:
Cash
$...
The comparative balance sheets for Rothlisberger Company as of
December 31 are presented below. ROTHLISBERGER COMPANY...
The comparative balance sheets for Rothlisberger Company as of
December 31 are presented below. ROTHLISBERGER COMPANY Comparative
Balance Sheets December 31 Assets 2020 2019 Cash $ 57,900 $ 49,200
Accounts receivable 42,100 63,700 Inventory 150,600 147,000 Prepaid
expenses 13,500 23,800 Land 105,000 136,800 Buildings 200,000
200,000 Accumulated depreciation—buildings ( 60,500 ) ( 33,200 )
Equipment 229,700 157,300 Accumulated depreciation—equipment (
42,200 ) ( 36,700 ) Total $ 696,100 $ 707,900 Liabilities and
Stockholders’ Equity Accounts payable $ 46,500 $ 39,500...
consolidated income statement and selected comparative
consolidated balance sheet data for Palano Company and subsidiary
follow:...
consolidated income statement and selected comparative
consolidated balance sheet data for Palano Company and subsidiary
follow:
Palano Company and Subsidiary
Consolidated Income Statement
for the Year Ended December 31, 2015
Sales
$699,800
Cost of sales
263,100
Gross profit
436,700
Operating expenses:
Depreciation expense
$76,100
Selling expenses
122,200
Administrative expenses
83,500
281,800
Consolidated net income
154,900
Less noncontrolling interest in consolidated net income
38,725
Controlling interest in consolidated net income
$116,175
December 31
2014
2015
Accounts receivable
$229,451
$323,275
Inventory
196,258...
MONTGOMERY INC.
Comparative Balance Sheets
December 31, 2016 and 2015
2016
2015
Assets
Cash
$
30,400...
MONTGOMERY INC.
Comparative Balance Sheets
December 31, 2016 and 2015
2016
2015
Assets
Cash
$
30,400
$
30,550
Accounts receivable,
net
10,050
12,150
Inventory
90,100
70,150
Total current
assets
130,550
112,850
Equipment
49,900
41,500
Accum.
depreciation—Equipment
(22,500
)
(15,300
)
Total assets
$
157,950
$
139,050
Liabilities
and Equity
Accounts
payable
$
23,900
$
25,400
Salaries
payable
500
600
Total current
liabilities
24,400
26,000
Equity
Common stock, no par
value
110,000
100,000
Retained
earnings
23,550
13,050
Total liabilities
and equity...
The comparative balance sheets for Rothlisberger Company as of
December 31 are presented below.
ROTHLISBERGER COMPANY...
The comparative balance sheets for Rothlisberger Company as of
December 31 are presented below.
ROTHLISBERGER COMPANY Comparative Balance Sheets December 31
Assets 2017 2016 Cash $59,900 $46,500 Accounts receivable 43,400
62,100 Inventory 148,100 145,600 Prepaid expenses 15,000 24,600
Land 96,500 130,300 Buildings 198,700 198,700 Accumulated
depreciation—buildings (56,200 ) (31,200 ) Equipment 230,300
156,600 Accumulated depreciation—equipment (44,300 ) (36,200 )
Total $691,400 $697,000 Liabilities and Stockholders’ Equity
Accounts payable $46,200 $39,000 Bonds payable 260,000 291,200
Common stock, $1 par 189,500 158,300...