Intermediate Accounting, 15th Edition Intermediate Accounting,


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Intermediate Accounting, 15th EditionIntermediate Accounting, 15th Edition Question 1 –  Presented below is a list of accounts in alphabetical order. Accounts Receivable Accumulated Depreciation—Buildings Accumulated Depreciation—Equipment Accumulated Other Comprehensive Income Advances to Employees Advertising Expense Allowance for Doubtful Accounts Bond Sinking Fund Bonds Payable Buildings Cash (in bank) Cash (on hand) Cash Surrender Value of Life Insurance Commission Expense Common Stock Copyrights Debt Investments (trading) Dividends Payable Equipment Freight-In Gain on Disposal of Equipment Interest Receivable Inventory—Beginning Inventory—Ending Land Land for Future Plant Site Loss from Flood Noncontrolling Interest Notes Payable (due next year) Paid-in Capital in Excess of Par—Preferred Stock Patents Payroll Taxes Payable Pension Liability Petty Cash Preferred Stock Premium on Bonds Payable Prepaid Rent Purchase Returns and Allowances Purchases Retained Earnings Salaries and Wages Expense (sales) Salaries and Wages Payable Sales Discounts Sales Revenue Treasury Stock (at cost) Unearned Subscriptions Revenue Question : Prepare a classified balance sheet in good form. (No monetary amounts are to be shown.) Intermediate Accounting, 15th Edition Question 2 : Goodwill 125,000 Payroll taxes payable 177,591 Bonds payable  300,000 Discount on bonds payable Cash 15,000 Land 480,000 Notes receivable 445,700 Notes payable (to banks) 265,000 Accounts payable 490,000 Retained earnings   ? Income taxes receivable 97,630 Notes payable (long-term) 1,600,000 Accumulated depreciation—equipment 292,000 Inventory 239,000 Rent payable (short-term) 45,000 Income taxes payable  98,362 Rent payable (long-term)  480,000 Common stock, $1 par value  200,000 Preferred stock, $10 par value  150,000 Prepaid expenses  87,920 equipment 1,470,000 equity  investment trading 121,000 accumulated depreciation buildings 270,200 buildings  1,640,000 Question : Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and pre- ferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of equity investments (trading) are the same. sultan94
posted a question · Dec 06, 2015 at 8:27pm

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