FINANCIAL ACCOUNTING LOOSELEAF
2nd Edition
ISBN: 9781119493631
Author: Kimmel
Publisher: WILEY
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Listed below in alphabetical order are the balance sheet items of Ivanhoe Company at December 31, 2022.
Accounts payable $11,900
Accounts receivable $14,800
Buildings $62,000
Cash $10,700
Common stock $85,000
Equipment $9,500
Land $32,000
Retained earnings $32,100
Prepare a balance sheet and include a complete heading.
Listed below, in alphabetical order, are the balance sheet items of Samtana Corp. at December 31, 2023.
Accounts Payable$ 9,000
Accounts Receivable15,000
Building46,000
Cash12,000
Land52,000
Office Equipment4,000
Samtana, Capital/Investment120,000
Prepare a balance sheet (in excel or word) and include a complete headings. Follow the format that is noted in the textbook and power-point slides. Ensure that the accounting equation is in balance.
The following selected account balances were taken from ABC Company'sgeneral ledgers for 2025:January 1, 2025 December 31, 2025 Accounts payable 49,000 53,000 Cash 35,000 38,000Common stock 46,000 76,000Land 27,000 64,000 Notes payable 45,000 40,000Retained earnings ? 29,000The following information was taken from ABC Company's 2025 incomestatement:Total revenues 500,000Total expenses <430,000>Net income 70,000The following information was taken from ABC Company's 2025 cashflow statement:Net cash flow from operating activities 93,000Net cash flow from investing activities <60,000>Net cash flow from financing activities <30,000>Net change in cash 3,000Calculate the balance in the retained earnings account at January 1, 2025.
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