Nash's Trading Post, LLC had the following accounts and balances: Accounts payable $28000 Equipment $34000 Accounts receivable 4500 Land 34000 Buildings Unearned service 9500 revenue Cash 14500 Total stockholders' equity If the balance of the Buildings account was $75000, what would be the total of liabilities and stockholders' equity? O $157500 O $162000 O $124500 O $115000
Q: Castile Products, Inc. Balance Sheet December 31 Assets Current assets:…
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Skysong, Inc. had the following accounts and balances: Accounts payable $31100 Equipment $35300…
A: Assets = Liabilities + stock holder's equity.
Q: Matrix Homes was organized on January 1, 2021 and had the account balances at January 31, listed in…
A: Accounting Equations:- These are equations where total assets are equal to the sum total of the…
Q: The following information is taken from Gandalf, Pty, Ltd. book: Accounts Payable $600 Accounts…
A: Net assets = Total assets - total liabilities
Q: Prepare Final Accounts from the following trail balance of Mr.Lokesh for the financial year ending…
A: Final accounts in the business means financial statements that are prepared at the end of the period…
Q: The following information is for Benton Office Supplies: Benton Office Supplies Balance Sheet…
A: Assets are the resources owned by the company. They are acquired with an intention to sell or to…
Q: The accounting equation for Cineo Enterprises is as follows: Assets Liabilities…
A:
Q: The following are the Balance sheet items of Salman Store. Prepare and calculate the Net Working…
A: Working capital is considered as the amount that is used by the business in order to meet the day to…
Q: The account of Jim Boy Trading Co. has the following balances on January 1, 2001 Jim Boy Trading Co.…
A: Journal Entries Sr. No. Particular Debit credit 1 Cash A/c 50,000 To…
Q: 3. Abra Traders had the following assets and liabilities: Cash P 50,000 Accounts Payable 40,000…
A: Owners equity is one of the important element of accounting equation. This is calculated from…
Q: 1. From the Trial Balances accounts of XYZ Company, construct a Simple Balance Sheet Statement. Cash…
A: Since there are multiple questions, we will solve first for you. To get the remaining questions…
Q: Look at the following transactions of Normal Company Limited. Prepare journal entry for each…
A: Journal entries recording is the first step of accounting cycle process, in which atleast one…
Q: The company made a sale of goods for RO. 15000 (cost RO 10000) and received 30% in cash and balance…
A: Accounting Equation:- It is the equation where total assets are equal to the sum of total…
Q: The company has provided their accounts in order. Use these accounts to answer the follo questions.…
A: Current assets are all of a company's assets that are expected to be sold or used within the next…
Q: ACCOUNTS PAYABLE P60,000 ACCOUNTS RECEIVABLE P10,000…
A: The accounting equation states that assets equal to sum of liabilities and equity. The equity can be…
Q: Waterway Industries had the following accounts and balances: Accounts payable $ Equipment 30400…
A: Total Stockholders' equity=Total Assets-Total Liabilities
Q: The total dollar amount of assets to be classified as investments is ?
A: Investment property is property (land or a building—or part of a building—or both) held (by the…
Q: The assets and liabilities of Matt Wesley Auto Shop are as follows: Cash, S10,000; Accounts…
A: Since basic accounting equation is Total assets = Total liabilities + equity
Q: Quality Service Inc. has the following accounts balances in their charts of accounts balances as at…
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…
Q: The assets and liabilities of Matt Wesley Auto Shop are as follows: Cash, S10,000; Accounts…
A: Since Basic accounts equation is Assets = Liabilities + Owners Equity
Q: How do you make a Statement of Retained Earnings? POST COMPANYADJUSTED TRIAL BALANCE…
A: Particulars Amount Sales 16000 Less: Expenses Gas Expense 200 Supply Expense 400…
Q: Whispering Winds Corp. had the following accounts and balances: Accounts payable $ Equipment $ 28500…
A: To Find:- Total of liabilities and stock holders equity
Q: The assets and liabilities of Smith Company are as follows: Cash $28,650; Supplies, $840; Equipment,…
A: The accounting equation states that assets equals to sum of liabilities and shareholders equity.…
Q: Waterway Industries had the following accounts and balances: Accounts payable $ Equipment $ 30000…
A: The question is based on the concept of Final Accounts.
Q: The accounting records of Tama Co. show the following assets and liabilities as of December 31, 2018…
A: Financial statement is the combination of the three major reports on a business which is basically…
Q: The following is a trail balance of ACC Limited for the year ended 31 December 2014: R BALANCE…
A:
Q: If the company's assets in TL: cash 100.000, accounts receivable 50.000, inventory 150.000, and…
A: Net Assets = Total Assets - Total Liabilities Under recorded value approach, value recorded in…
Q: On May 1, 20x1, the statement of financial position of Juan and Pablo appear below: Juan Pablo Cash…
A: Adjusted Capital balances = Initial capital balances - Uncollectible accounts receivables -…
Q: help
A: Assets: Assets are the resources of an organization. They are used in the business operations to…
Q: Marigold Corp. compiled the following financial information as of December 31, 2022: Service revenue…
A: Assets are the future benefit of the company that has to be sacrificed to pay off the debt of the…
Q: 7: Purchased a building with a market value of $ 120 comma 000$120,000, and land with a market…
A: Balance sheet is a statement which shows the balance of liabilities & assets in a business at a…
Q: Castile Products, Inc. Balance Sheet December 31 Assets Current assets:…
A: 1. EPS = Net income / Number of Common stock EPS = $324,100 / ($110,000 / $10) EPS = $29.46 per…
Q: Quality Service Inc. has the following accounts balances in their charts of accounts balances as at…
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…
Q: Below is the Trial Balance for TK & Company Limited as at 31 December 2020. TK & Company Limited…
A: Following are the requisite financial statements It is assumed that all the figures in the trial…
Q: Blossom Services Corporation had the following accounts and balances: Accounts payable 2$ Equipment…
A: The question is based on the concept of Final Accounts
Q: Suppose a local company has the following balance sheet accounts:Accounts…
A: Equipment = $16,000
Q: These items are taken from the financial statements of Oriole Co. at December 31, 2022.…
A: Formula: Net Income = Total Revenues - expenses Deduction of expenses from Revenues derives the Net…
Q: On Ist January, 1990, the balances of M/s Khan Bros. are as follows; Assets Liabilities & Owner's…
A: Accounting equation in accounting says that total assets in the business must be equal to total…
Q: Faith D. Nakpil Accounting Services (FDNACCT) paid for the following: Purchase of equipment: P50,000…
A: 1. Purchase of Equipment : it is not an expense. It is the purchase of Fixed assets. The…
Q: Listed below in random order are the items to be included in the balance sheet of Smokey Moun- tain…
A: Balance sheet is one of the main statement of Financial Statement. It shows the financial position…
Q: 2. Use the following data to determine the total dolar amount of assets to be classified as…
A: Hi, there, Thanks for posting the question. As per our Q&A honour code, we must answer the first…
Q: The assets and liabilities of Global Travel Agency on December 31, 20Y5, and its revenue and…
A: Disclaimer: ''Since you have posted a question with multiple parts, we will solve the first three…
Q: 2. The following balances were taken from Acer Company as at 31.12.2020 Bank 60 000 Cash 30 000…
A: Trial Balance
Q: The following transactions are related to Cargo Wings private limited for the year 2020. Aug. 01…
A: The accounting system is based on double entries for every transaction, where every entry should…
Q: The assets and liabilities of Matt Wesley Auto Shop are as follows: Cash, s10,000; Accounts…
A: Formula: Owner’s Equity = Assets – Liabilities
Q: The following balances are extracted from Al-Mustafa Trading Company as on 31/12/2021 Stocks sales…
A: Let the balance of capital account be X therefore , Cash balance = 0.7X Debtors…
Q: The following information is for Benton Office Supplies: Benton Office Supplies Balance Sheet…
A: Current liabilities: The debts obligations owed by a company to creditors and suppliers and are to…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Assume that as of January 1, 20Y8, Sylvester Con- suiting has total assets of $500,000 and total assets of $150,000. As of December 31, 20Y8, Sylvester has total liabilities of $200,000 and total stockholders’ equity of $400,000. (a) What was Sylvester’s stockholders’ equity as of January 1, 20Y8? (b) Assume that Sylvester did not pay any dividends during 20Y8. What was the amount of net income for 20Y8?Skysong, Inc. had the following accounts and balances: Accounts payable $31100 Equipment $35300 Accounts receivable 4500 Land 35400 Buildings ? Unearned service revenue 10500 Cash 15450 Total stockholders' equity ? If the balance of the Buildings account was $83000, what would be the total of liabilities and stockholders' equity? $173650 $121550 $169150 $132050How do I get both sides to balance? Assets =Liabilities and Stockholders Equity? I cant seem to find the shareholders equity amount. Assets Liabilities and Stockholders Equity Cash $ 7,000.00 Accounts Payable $14,000 Accounts Recievable $ 19,000.00 Long-Term Debt $140,000 Inventory $170,000.00 Shareholders Equity $7,000 PP&E $ 70,000.00 266,000 $161,000 Cash $ 7,000.00 inventory of TV $ 170,000.00 PP&E 70000 Accounts Recievable $ 19,000.00 Accounts Payable $14,000 Long-Term Debt $140,000 Shareholders Equity XX
- If a business has the following balances, what would be the amount of total liabilities?ASSETSCash $ 5000Accounts Receivable 2575Equipment 14000OWNER'S EQUITYAnne Miller, Capital 2600Bramble Company compiled the following financial information as of December 31, 2022: Revenues $333000 Owner’s Capital (1/1/22) 149000 Equipment 79300 Expenses 249000 Cash 89300 Owner's Drawings 19200 Supplies 15800 Accounts payable 40100 Accounts receivable 69500 Bramble’s owner’s equity on December 31, 2022 is $253900. $149000. $213800. $108900.Based on the following data and assuming that the common stock account balance is $63000, what is the balance in retained earnings? Accounts payable $88000 Accounts receivable 51000 Cash 87000 Inventory 155000 Buildings 166000 Bonds payable 517000 Supplies 10300 Notes payable 66000 Equipment 351000 $149300 $240300 $86300 $174300
- Calculate the other income from the following Information Dividends income 1000 Opening stock 27800 Accounts payable 18000 Accounts receivable 123000 Prepaid expense 25100 Rental revenue 5200 Interest expenses 1450 Interest Income 8540 Select one: a. OMR 9450 b. OMR 14740 c. OMR 6200 d. OMR 1000The following amounts are reported in the ledger of Mariah Company: Assets$80,000Liabilities36,000Retained Earnings12,000 What is the balance in the Common Stock account?a. $44,000.b. $32,000.c. $48,000.d. $42,000.Following is the trial balance of Standard Ltd as on 31st March 2020: Debit Credit Stock on 31st March 2019 75000 Sales 350000 Purchases 245000 Wages 50000 Discount 5000 Furniture and fittings 17000 Salaries 7500 Rent…
- xtract of Balance sheet items as at 31 December 2020 OR Land 35000 Account receivables 3500 Capital 11500 Closing Stock 15000 Loan 3000 Bank overdraft 3200 Cash 2500 Mortagage loan 7500 Machinery 1650 Trade payables 5700 Accumulated Depreciation 1000 Short term Investments 2200 Trade marks 6000 Drawings 1000 Retained Earnings 7150 Prepaid Expenses 2300 Calculate Owners Equity Select one: a. None Of These b. 8900 OMR c. 58250 OMR d. 17650 OMRThe following information was extracted from the Coach Trading as at 31 December 2022. Coach Trading Statement of Financial Position as at 31 December 2022 RM Non-Current Assets 572,000 Current Assets Closing inventory 189,000 Account receivable 177,700 Cash in bank 98,300 Prepaid expense 5,000 470,000 1,042,000 Owner’s Equity Capital 500,000 Add: Net profit 344,100 844,100 Current Liabilities Account payable 189,900 Accrued expense 8,000 197,900 1,042,000 Additional information: - 1. Net sales and cost of goods sales for the year ended 31 December 2022 were RM988,900 and RM400,000 respectively. 2. The amount of inventories as at 1 January 2022 was RM210,000. Based on the information given above, compute and comment the following ratios: a) Current Asset Ratio b) Inventory Turnover Ratio c) Account Receivables Collection Period d) Net Profit Margin Do not give answer in imageExtract of Balance sheet items as at 31 December 2020 OR Land 35000 Account receivables 3500 Capital 11500 Closing Stock 15000 Loan 3000 Bank overdraft 3200 Cash 2500 Mortagage loan 7500 Machinery 1650 Trade payables 5700 Accumulated Depreciation 1000 Short term Investments 2200 Trade marks 6000 Drawings 1000 Retained Earnings 7150 Prepaid Expenses 2300 Calculate Owners Equity Select one: a. None Of These b. 17650 OMR c. 8900 OMR d. 58250 OMR