23-2. December 31
2017
2016
33,500
&nb
23-2. December 31
2017
2016
33,500
13,000 Cash
12,250
10,000 Accounts Receivable
12,000
9,000 Inventory
0
3,000 Long-Investments
0
29,750 Building
0
(6,000) Accumalted depreciation on building
45,000
20,000 Equipment
(2,000)
(4,500) Accumlated depreciation on equipment
5,000
9,250 Patents
105,750
83,500 Total Assets
5,000
3,000 Accounts Payable
1,000
5,000 Dividends Payable
4,000
8,500 Short-term Notes Payables
32,000
25,000 Long term notes payable
39,000
30,000 Common stock
6,000
3,000...
Information regarding Carperk Company's individual investments
in securities during its calendar-year 2017, along with the
December...
Information regarding Carperk Company's individual investments
in securities during its calendar-year 2017, along with the
December 31, 2017, fair values, follows.
Investment in Brava Company bonds: $314,200 cost, $341,535 fair
value. Carperk intends to hold these bonds until they mature in
2022.
Investment in Baybridge common stock: 29,500 shares; $249,789
cost; $271,521 fair value. Carperk owns 32% of Baybridge's voting
stock and has a significant influence over Baybridge.
Investment in Buffa common stock: 12,000 shares; $128,822 cost;
$138,870 fair value....
At December 31, 2017 an analysis of the accounts and discussions
with Porter Corporation's executives revealed...
At December 31, 2017 an analysis of the accounts and discussions
with Porter Corporation's executives revealed the following
information:
The amount of income taxes applicable to ordinary income was
$60,372. This tax amount does not include the tax effect of the
discontinued operations loss which amounted to $24,540.
Inventory is stated at the lower-of-FIFO-cost-or-market
Investments include common stock of a company that is classified as
short-term and totals $81,360 and common stock of a different
company that is classified...
At December 31, 2017 an analysis of the accounts and discussions
with Porter Corporation's executives revealed...
At December 31, 2017 an analysis of the accounts and discussions
with Porter Corporation's executives revealed the following
information:
The amount of income taxes applicable to ordinary income was
$60,372. This tax amount does not include the tax effect of the
discontinued operations loss which amounted to $24,540.
Inventory is stated at the lower-of-FIFO-cost-or-market
Investments include common stock of a company that is classified as
short-term and...
The following items are taken from the financial statements of
Bannister Company for 2017:
Accounts Payable...
The following items are taken from the financial statements of
Bannister Company for 2017:
Accounts Payable
$18,500
Accounts Receivable
4,000
Accumulated Depreciation
4,800
Bonds Payable
18,000
Cash
24,000
Common Stock
25,000
Cost of Goods Sold
13,000
Depreciation Expense
4,800
Dividends
5,300
Equipment
48,000
Interest Expense
2,500
Patents
7,500
Retained Earnings, January 1
16,000
Salaries Expense
5,200
Sales Revenue
36,500
Supplies
4,500
Fill in the appropriate amounts to the questions in the
answer box below. BE SURE TO SHOW...
The management of Zigby Manufacturing prepared the following
estimated balance sheet for March 2017: ZIGBY MANUFACTURING...
The management of Zigby Manufacturing prepared the following
estimated balance sheet for March 2017: ZIGBY MANUFACTURING
Estimated Balance Sheet March 31, 2017 Assets Cash $ 80,000
Accounts receivable 487,500 Raw materials inventory 93,390 Finished
goods inventory 438,000 Total current assets 1,098,890 Equipment,
gross 640,000 Accumulated depreciation (170,000 ) Equipment, net
470,000 Total assets $ 1,568,890 Liabilities and Equity Accounts
payable $ 215,690 Short-term notes payable 32,000 Total current
liabilities 247,690 Long-term note payable 520,000 Total
liabilities 767,690 Common stock 355,000...
In period 0, Goldencat, a London-based corporation, has the
following capital structure:
• The corporation has...
In period 0, Goldencat, a London-based corporation, has the
following capital structure:
• The corporation has 100,000 shares of common stocks
outstanding, whose price fluctuates around Pcs,0 = 10 pounds per
share. In that period, the company paid out dividend of D0 = 1 per
share. The financial market expects the dividend to grow in the
future at a rate of g = 5% per year.
• The company’s bond-holders, mostly bankers in Brussels, have
also provided the company a...
The 2013
balance sheet of the Captain Jet Inc. is attached. During 2014, the
following events...
The 2013
balance sheet of the Captain Jet Inc. is attached. During 2014, the
following events occurred.
1. On January 10,
sell merchandise on account to Rayms $9,600 and Fischer $8,800.
Terms 2/10, n/30. Freight $100 for each sale, F.O.B. shipping
point.
2. On January 12,
purchase merchandise on account from Zapfel $3,000 and Liotta
$2,400. Terms 1/10, n/30. Freight $120 for each sale, F.O.B.
destination.
3. Receive checks,
$4,000 from Longhini and $2,000 from Hall, for sales on
account...
The comparative financial statements of the Summer
Company are as follows.
The market price of the...
The comparative financial statements of the Summer
Company are as follows.
The market price of the Summer Company common stock
was $36 on
December 31, 2016 and $11.20 on December 31,
2017.
Summer
Company
Comparative Balance Sheet
December 31, 2017, 2016 and 2015
ASSETS
2017
2016
2015
Current Assets
Cash
$176,200
$253,100
$26,500
Accounts Receivable
238,850
31,850
67,350
Merchandise Inventory
62,500
42,500
130,000
Prepaid Expenses
700
1,700
2,200
Total Current Assets
$478,250
$329,150
$226,050
Plant Assets
696,100
726,100
786,100...