On July 1 of the current year, the assets and liabilities of John Wong, DVM, are as follows: Cash, $10,485; Accounts Receivable, $8,275; Supplies, $1,975; Land, $24,34 Payable, $5,921. What is the amount of stockholders' equity as of July 1 of the current year?
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- At December 31, Marker reported the following items: cash, $8,200; inventory, $3,700; accounts payable, $6,300; accounts receivable, $3,900; common shares, $5,900; property, plant, and equipment, $10,000; interest payable, $1,400; retained earnings, $12,200. What is the total of Marker's current assets? a.$15,800 b.$10,100 c.$25,800 d.$16,000Assume that Denis Savard Inc. has the following accounts at the end of the current year. 1. Common Stock. 2. Discount on Bonds Payable. 3. Treasury Stock (at cost). 4. Notes Payable (short-term). 5. Raw Materials. 6. Preferred Stock Investments (long-term). 7. Unearned Rent Revenue. 8. Work in Process. 9. Copyrights. 10. Buildings. 11. Notes Receivable (short-term). 12. Cash. 13. Salaries and Wages Payable. 14. Accumulated Depreciation—Buildings. 15. Restricted Cash for Plant Expansion. 16. Land Held for Future Plant Site. 17. Allowance for Doubtful Accounts. 18. Retained Earnings. 19. Paid-in Capital in Excess of Par—Common Stock. 20. Unearned Subscriptions Revenue. 21. Receivables—Officers (due in one year). 22. Inventory (finished goods). 23. Accounts Receivable. 24. Bonds Payable (due in 4 years). 25. Noncontrolling Interest. Instructions Prepare a classified balance sheet in good form. (No monetary amounts…Assume that Denis Savard Inc. has the following accounts at the end of the current year. 1. 2. 3. 4 5. 6. 7. 8. 9. 10. 11. 12. Common Stock. Discount on Bonds Payable. Treasury Stock (at cost). Notes Payable (short-term). Raw Materials. Equity Investments (long-term). Unearned Rent Revenue. Work in Process. Copyrights. Buildings. Notes Receivable (short-term). Cash. Current Assets Cash 13. Less 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. Prepare a classified balance sheet in good form. (No monetary amounts are necessary.) (For Land, Treasury Stock, Notes Payable, Preferred Stock Investments, Notes Receivable, Receivables-Officers, Inventory, Bonds Payable, and Restricted Cash, enter the account name only and do not provide the descriptive information provided in the question.) Salaries and Wages Payable. Accumulated Depreciation-Buildings. Restricted Cash for Plant Expansion.. Land Held for Future Plant Site. Allowance for Doubtful Accounts. Retained Earnings. Paid-in Capital in Excess…
- On July 1 of the current year, the assets and liabilities of John Wong, DVM, are as follows: Cash, $10,377; Accounts Receivable, $8,206; Supplies, $1,874; Land, $24,117; Accounts Payable, $5,604. What is the amount of stockholders' equity as of July 1 of the current year?Green House, LLP's balance sheet at the end of its most recent fiscal year, shows the following information: Assets Liabilities and Stockholders’ Equity Cash and marketable securities $ 23,015 Accounts payable $ 163,257 Accounts receivable 141,258 Notes payable 21,115 Inventories 212,444 Total current assets $ 376,717 Total current liabilities $ 184,372 Long-term debt 168,022 Total liabilities $ 352,394 Net plant and equipment 711,256 Common stock 313,299 Goodwill and other assets 89,879 Retained earnings 512,159 Total assets $1,177,852 Total liabilities and stockholders’ equity $1,177,582 In addition, the company reported the following: Net income = $156,042 Sales = $4,063,589 COGS = $2,641,333 Determine the following values for the company: Cash ratio _____________ Inventory…The following information pertains to Luna Company as at September 30, 2020:a. Notes payable – bank, P35,000b. Accounts payable arising from purchase of goods, P1,125,000c. Dividends in arrears on preference shares, not yet declared, P250,000d. Income tax payable, P134,000e. Accrued liabilities, P42,000f. Mortgage payable, P2,250,000g. Customers’ deposits, P89,000h. Reserve for contingencies, P250,000What is the total amount of liabilities that should be reported on Luna's statement of financial position as at September 30, 2020?
- Cash dividends of $88,319 were declared during the year. Cash dividends payable were $9,765 at the beginning of the year and $14,005 at the end of the year. The amount of cash for the payment of dividends during the year is Oa. $88,319 Ob. $102,324 Oc. $84,079 Od. $78,554Cash dividends of $77,023 were declared during the year. Cash dividends payable were $10,060 and $13,132 at the beginning and end of the year, respectively. Determine the amount of cash for the payment of dividends during the year.Select the correct answer.$77,023 $66,963 $90,155 $73,95124.-Cash dividends of $75,356 were declared during the year. Cash dividends payable were $11,814 at the beginning of the year and $14,402 at the end of the year. The amount of cash for the payment of dividends during the year is
- Prepare the stockholders’ equity section of the balance sheet for Wiley Corporation on December 31, 2021. Assume that net income for the year was $1,100,000.The board of directors declared cash dividends totaling $229,400 during the current year. The comparative balance sheet indicates dividends payable of $57,400 at the beginning of the year and $51,700 at the end of the year. What was the amount of cash payments to stockholders during the year?Assume that Dennis Savard Inc. has the following accounts at the end of the current year. 1. Common Stock 2. Discount on Bonds Payable 3. Treasury Stock (at cost) 4. Notes Payable (short-term) 5. Raw Materials 6. Equity Investments (long-term) 7. Unearned Rent Revenue 8. Work in Progress 9. Copyrights 10. Buildings 11. Notes Receivable (short-term) 12. Cash 13. Salaries and Wages Payable 14. Accumulated Depreciation-Buildings 15. Restricted Cash for Plant Expansion 16. Land Held for Future Plant Site 17. Allowance for Doubtful Accounts 18. Retained Earnings 19. Paid-in Capital in Excess of Par-Common Stock 20. Unearned Subscriptions Revenue 21. Receivables-Officers (due in on year) 22. Inventory (finished goods) 23. Accounts Receivable 24. Bonds Payab;e (due in 4 years) Prepare a classified balance sheet in good form. (No monetary amounts are necessary). (For Land, Treasury Stock, Notes Payable, Preferred Stock Investments, Notes Receivable, Receivables-Officers, Inventory, Bonds…