Match the account titles with the proper financial statement
classification:
A Current Assets E
B Long-Term...
Match the account titles with the proper financial statement
classification:
A Current Assets E
B Long-Term Investments F
C Property, Plant, and Equipment G
Long-Term Liabilities Equity
Revenue
Expenses
D Current Liabilities
H
Inventory
Accounts Payable
Notes Payable in Ten Years Accrued Payroll
Interest Income
Accounts Receivable
Fund Balancing (Working Capital) Restricted Donations
Land (Used in operations)
Cash
Office Supplies Expense
Payroll Taxes Payable
The Blue Company has provided the following account
balances:
Cash $380,000
Short-term investments $40,000
Accounts receivable...
The Blue Company has provided the following account
balances:
Cash $380,000
Short-term investments $40,000
Accounts receivable $60,000
Inventory $480,000
Long-term notes receivable $20,000
Equipment $960,000
Factory Building $1,800,000
Intangible assets $60,000
Accounts payable $300,000
Accrued liabilities payable $40,000
Short-term notes payable $95,000
Income taxes payable $55,000
Long-term notes payable $920,000
Stockholders’ equity $2,400,000
What is Blue's current ratio?
A company has the following balances at December 31, 2019:
Accounts payable
60,000
Accounts receivable
52,500...
A company has the following balances at December 31, 2019:
Accounts payable
60,000
Accounts receivable
52,500
Cash
80,000
Common stock
200,000
Equipment
96,000
Equity investments
76,300
Inventory
57,000
Long-term liabilities
100,000
Patents
32,000
Retained earnings
17,000
Salaries payable
15,000
Unearned revenue
1,500
Additional information:
The cash balance includes $20,000 cash restricted for future
plant expansion.
Allowance for doubtful accounts is $3,800.
Accumulated depreciation on equipment is $40,000.
The long-term liabilities balance includes $12,000 due in
2020.
Format guidance: Enter whole...
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Presented below are selected accounts of Wildhorse Company at...
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Presented below are selected accounts of Wildhorse Company at
December 31, 2020.
Inventory (finished goods)
$ 59,800
Cost of Goods Sold
$2,113,900
Unearned Service Revenue
94,800
Notes Receivable
40,400
Equipment
261,700
Accounts Receivable
170,720
Inventory (work in process)
43,100
Inventory (raw materials)
183,830
Cash
40,000
Supplies Expense
55,820
Debt Investments (trading)
39,500
Allowance for Doubtful Accounts
12,420
Customer Advances
54,800
Licenses
16,580
Restricted Cash for Plant Expansion
59,500
Additional Paid-in Capital
80,630
Treasury...
1. Long-term or relatively permanent assets such as equipment,
machinery, buildings, and land. They exist physically;...
1. Long-term or relatively permanent assets such as equipment,
machinery, buildings, and land. They exist physically; they are
owned and used by the company in its normal operations; and they
are not offered for sale as part of normal operations.
a) What are intangible assets?
b) What are current assets?
c) What are short-term investments in marketable securities?
d) What are fixed assets?
2. Costs that benefit only the current period. These costs
include such items as ordinary repairs and...
5. Devon’s bookkeeper provided the
following balance sheet.
DEVON COMPANY
Balance Report for
the year ended...
5. Devon’s bookkeeper provided the
following balance sheet.
DEVON COMPANY
Balance Report for
the year ended December 31, 2016
Current Assets:
Cash
$ 58,000
Current Liabilities:
Accounts payable
$ 25,000
Accounts receivable
123,500
Accumulated
depreciation: buildings
20,000
Inventory, at higher
of cost or market (cost $29,850)
35,800
Wages payable
22,200
Sinking fund for
bond retirement
115,000
Additional paid-in
capital on common stock
100,000
Long-Term Investments:
Long-Term Liabilities:
Treasury stock (at cost)
55,500
Bonds payable
100,000
Investments in bonds
Marketable securities,...
The following are the typical classifications used in a balance
sheet: a. Current assets f. Current...
The following are the typical classifications used in a balance
sheet: a. Current assets f. Current liabilities b. Investments g.
Long-term liabilities c. Property, plant, and equipment h. Paid-in
capital d. Intangible assets i. Retained earnings e. Other assets
Required: For each of the following 2021 balance sheet items, use
the letters above to indicate the appropriate classification
category. (If the item is a contra account, select the appropriate
letter with a minus sign.)
1.
Interest payable (due in 3...
Cash 4.350, AR 1.800, supplies 8670, prepaid insurance 2.300,
equipment 26.000, accumulated depreciation 2.000, AP 6.200,...
Cash 4.350, AR 1.800, supplies 8670, prepaid insurance 2.300,
equipment 26.000, accumulated depreciation 2.000, AP 6.200,
salaries payable 1.200, unearned revenue 2.750, capital ??,
withdrawals 1.500. service revenue 20.000, depreciation expense
1.000, salaries expense 6.000, insurance expense1.200, rent expense
1.100, supplies expense 200.
What is the total expenses?
What is the net profit?
What is the total fixed assets?
What is the total current assets?
What is the total short term liabilities?