Accounts Receivable $160,250 Accumulated Depreciation-Building 783,500 Administrative Expenses 524,850 Building 2,563,700 Cash 184,450 Common Stock 306,600 Cost of Goods Sold 3,721,950 Dividends 185,600 Interest Expense 9,550 Inventory 1,005,950 Notes Payable 254,900 Office Supplies 20,800 Retained Earnings 1,324,350 Salaries Payable 8,100 Sales 6,255,450 Selling Expenses 692,550 Store Supplies 89,550
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- Determine the missing amount: cash$239,186;short term investment$353,700;acct receiv$504,944;inventory? Prepaid exp$83,259;total current asset$1,594927; property&equipment? what is the inventory amount and property& equipment amount?need formula for cost of goods sold CURRENT ASSETS Cash and cash equivalents $ 607,987 $ 480,626 Accounts receivable, net 104,500 80,545 Inventory 26,445 26,096 Prepaid expenses and other current assets 54,906 57,076 Income tax receivable 282,783 27,705 Investments 343,616 400,156 Total current assets 1,420,237 1,072,204 Leasehold improvements, property and equipment, net 1,584,311 1,458,690 Long term investments 102,328 0 Restricted cash 27,849 27,855 Operating lease assets 2,767,185 2,505,466 Other assets 59,047 18,450 Goodwill 21,939 21,939 Total assets 5,982,896 5,104,604 Current liabilities: Accounts payable 121,990 115,816 Accrued payroll and benefits 203,054 126,600 Accrued liabilities 164,649 155,843 Unearned revenue 127,750 95,195 Current operating lease liabilities 204,756 173,139 Total current liabilities 822,199 666,593 Commitments and contingencies (Note 12) Long-term operating lease liabilities 2,952,296…Question Content Area Balances of the current asset and current liability accounts at the end and beginning of the year are as follows: End Beginning Cash $62,000 $73,000 Accounts Receivable (net) 75,000 60,000 Inventories 54,000 47,000 Accounts Payable (merchandise creditors) 43,000 37,000 Salaries Payable 2,800 3,800 Sales (on account) 210,000 Cost of Merchandise Sold 70,000 Operating Expenses Other Than Depreciation 67,000 Use the direct method to prepare the operating activities section of a statement of cash flows. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. blankCash Flows From The Operating Activities Section Cash flows from (used for) operating activities: $- Select - $- Select - - Select - $- Select -
- The following accounts relate to Warlito Blanche Graphic Arts: Accounts Payable P 122,500Accounts Receivable 219,000Accumulated Depreciation-Building 60,000Accumulated Depreciation-Equipment 60,000Advertising Expense 105,000Art Revenues 1,437,500Building 450,000Cash 36,200Depreciation Expense-Building 30,000Depreciation Expense-Equipment 30,000Equipment 217,000Interest Expense 37,000Land 120,000Miscellaneous Expense 24,600Mortgage Payable 395,000Notes Payable 213,000Office Supplies 17,200Blanche, Capital, 1/1/2009…is: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $70,720 $47,940 Accounts receivable (net) 207,230 188,190 Inventories 298,520 289,850 Investments 0 102,000 Land 295,800 0 Equipment 438,600 358,020 Accumulated depreciation—equipment (99,110) (84,320) Total assets $1,211,760 $901,680 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $205,700 $194,140 Accrued expenses payable (operating expenses) 30,600 26,860 Dividends payable 25,500 20,400 Common stock, $1 par 202,000 102,000 Paid-in capital: Excess of issue price over par—common stock 354,000 204,000 Retained earnings 393,960 354,280 Total liabilities and stockholders' equity $1,211,760 $901,680 The income statement for the year ended December 31, 20Y9, is as follows: Sales $2,023,898 Cost of goods sold 1,245,476 Gross profit $778,422 Operating…ASSET EXPENSES LIABILITIES CAPITAL REVENUES (i) 67,500 85,700 50,500 53,700 49,000 (ii) 92,000 7,000 8,000 21,000 70,000 (iii) 112,000 85,000 200 171,000 25,800 (iv) 7,900 2,250 3,200 2,750 4,200 (v) 32,500 6,600 7,200 26,200 5,700 a) State the journal entries using the format given as in the picure
- Refer to the following data of OCT2023CPACompany: Assets to be realized 1,375,000Assets acquired 825,000 Liabilities liquidated 1,875,000Assets realized 1,200,000Liabilities not liquidated 1,700,000 Assets not realized 1,375,000Llabilities assumed 1,625,000Llabilities to be liquidated 2,250,000 Supplementary charges 3,125,000 Supplementary credits 2,800,000 Compute the beginning cash balance assuming that the ending balance of ordinary share and retained earnings are P1,200,000 and (400,000), respectivelyCash $41,900 $34,100 Accounts Receivable 70,400 60,300 Inventory 29,900 24,000 Equity investments 22,100 38,300 Machinery 30,200 18,900 Buildings 67,900 56,800 Land 7,400 7,400 $269,800 $239,800 Credit Accounts Allowance for Doubtful Accounts $2,200 $1,500 Accumulated Depreciation—Machinery 5,600 2,200 Accumulated Depreciation—Buildings 13,400 8,900 Accounts Payable 35,300 24,700 Accrued Payables 3,400 2,600 Long-Term Notes Payable 21,000 30,800 Common Stock, no-par 150,000 125,000 Retained Earnings 38,900 44,100 $269,800 $239,800 Additional data (ignoring taxes): 1. Net income for the year was $40,900. 2. Cash dividends declared and paid during the year were $21,100. 3. A 20% stock dividend was declared during the year. $25,000 of retained earnings was capitalized. 4.…Peter Senen Corporation provided the following account balances as of September 30, 2020:Cash P112,000 Accumulated depreciation P 36,000Accounts Receivable 64,000 Accounts payable 40,000Finished Goods 48,000 Income tax payable 9,000Work in process 36,000 Share Capital 500,000Raw materials 52,000 Retained Earnings 207,000Property and Equipment 480,000The following transactions occurred during October:1. Materials purchased on account, P150,0002. Materials issued to production: direct materials- P90,000, Indirect materials- P10,000.3. Payroll for the month of October 2020 consisted of the following (also paid during the month):Direct labor P62,000 Administrative salaries P16,000Indirect Labor 20,000Sales salaries 30,000Payroll deductions were as follows:Withholding taxes P19,800 Phil health contributions P2,000SSS contributions 7,100 HDMF contributions 2,0004. Employer contributions for the month were accrued:Factory Selling AdministrativeSSS contributions P5,700 P2,000 P1,100Philhealth…
- Balances of the current asset and current liability accounts at the end and beginning of the year are as follows: End Beginning Cash $67,000 $73,000 Accounts Receivable (net) 73,000 60,000 Inventories 54,000 37,000 Accounts Payable (merchandise creditors) 43,000 37,000 Salaries Payable 1,800 3,800 Sales (on account) 210,000 Cost of Merchandise Sold 70,000 Operating Expenses Other Than Depreciation 67,000 Use the direct method to prepare the operating activities section of a statement of cash flows. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. blankOperating Activities Section Cash flows from (used for) operating activities: $- Select - - Select - - Select - Net cash flows from operating activities $fill in the blank 7please dont provide answer in image format thank you Great Lakes Manufacturing Inc. comparative Statement of Financial Position at December 31in (000)'s 20X5 20X4Cash $ 5,100 $ 4,800 Accounts Receivable $ 9,010 $ 6,100 Inventory $ 10,400 $ 14,000 Prepaid Expenses $ 1,950 $ 1,020 Equipment $ 58,500 $ 59,900 Accumulated Depreciation - equipment $ (33,100 ) $ (32,000 )Total Assets $ 51,860 $ 53,820 Account Payable $ 7,000 $ 11,400 Interest Payable $ 350 $ 110 Income taxes payable $ 650 $ 500 Dividends Payable $ 2,400 $ 3,200 Long-term Notes Payable $ 17,500 $ 17,000 Common shares $ 22,000 $ 20,000 Retained Earnings $ 1,960 $ 1,610 Total Liabilities &…Line Item Description 20X1 20X2 Current assets: Accounts receivable $750,000 $582,500 Inventories 300,000 320,000 Current liabilities: Wages payable 700,000 515,000 Davis CompanyIncome StatementFor the Year Ended December 31, 20X2 Line Item Description Amount Amount Revenues $3,000,000 Cost of goods sold 1,920,000 Gross margin $1,080,000 Operating expenses Depreciation 270,000 Operating income $ 810,000 Other revenues and expenses Gain on sale of equipment 100,000 Interest expense 10,000 90,000 Net income $ 900,000 Required: Compute operating cash flows using the indirect method.