Fill in the missing items for the following inventories: Beginning balance Ending balance Transferred in Transferred out $ A 9,750 8,000 17,500 B 4,000 36,000 42,000 $ C 14,200 12,400 44,000
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- 1. Compute the net (debit)/credit adjustment for EE anf FF. EE FF EE FFA. 28,700 ; 28,200 C. (8,700) ; 1,800B. (28,700) ; (28,200) D. 8,700 ; (1,800) 2. Compute the total assets after the formation.A. 1,607,650 C. 1,579,850B. 1,570,850 D. 1,568,750 3. If the partners are to share profits and losses in the ratio of 6:4 and their capital is top reflect this relationship, what is the capital of FF after the formation?A. 400,000 C. 369,740B. 391,700 D. 391,700 4. If If the partners are to share profits and losses in the ratio of 6:4 and their capital is top reflect this relationship with EE’s capital to be used as a basis, what is the capital of FF after the formation?A. 400,000 C. 369,740B. 391,700 D. 391,700Information shown to (1)Preare a statment of AW Use the Financial statement and addition) Information shown to Cash Flows For the Year ended Using the (1) Prefare a statment of June 30,200%, indirct.methed PASSAT INC. MCome Statement For Year Ended June 3,2002 $67800 (411000) 267000 selas Cost of Joods sold Gross profit oPelabing &XPense Depreciabion exPense other ex Pense Tobal operabing expense other Jattesains Closses) Gain on Sale of equipment 58600 67000 (125600) 200 Income before taes $143400 (43890) Income taXes Net income $99510Good day, how do we calculate the missing amounts when doing a comparative balance sheet? Comparative Balance Sheet December 31, 2020 and 2019 2020 2019 Increase/Decrease Assets Cash and cash Equivalent $ 51,500.00 $ 45,400.00 Accounts Receivable Inventories $ 61,400.00 $ 9,500.00 Fixed Assets, net $ 160,000.00 $ 110,000.00 Total Assets $ 324,000.00 $ 268,700.00 $ 55,600.00 Liabilities Accounts Payable Accrued liabilities $ 31,000.00 -$ 6,550.00 Long-term notes payable $ 60,000.00 $ 78,540.00 Stockholders Equity: Common Stock $ 143,050.00 $ 105,110.00 $ 37,940.00 Retained Earnings $ 54,800.00 $ 19,700.00 $ 35,100.00 Total liabilities and Stockholders equity $ 324,300.00 $ 268,700.00 $ 55,600.00
- Life-Positive’s Account Balances 2021 ($) 2022 ($) accounts payable 24,600.00 21,250.00Accounts receivable 15,700.00 12,340.00Cash 23,450.00 28,600.00Cost of goods sold 19,700.00 23,000.00Depreciation 3,090.00 4,590.00Dividends 5,800.00 10,800.00Interest 2,340.00 2,890.00Inventory 7,050.00 8,640.00Long-term debt 28,000.00 30,000.00Net fixed assets 41,500.00 48,000.00Other expenses 2,400.00 2,800.00Sales 58,000.00 62,500.00Short-term Notes Payable 2,890.00 2,340.00Shares outstanding 85,000.00 90,000.00 tax rate is 32% 4. Calculate the cash flow from assets, cash flow to creditors,and cash flow to stockholders…EB11. LO 5.3 For each of the following accounts, identify in which section of the classified balance sheet it would be presented: current assets, property, intangibles, other assets, current liabilities, long-term liabilities, or stockholder's equity. A. Building B. Cash C. Common Stock D. Copyright E. Prepaid Advertising F. Notes Payable (due six months later) G. Taxes Payable H. Unearned Rent RevenueQ49 The conversion for balance sheet in the beginning of the year or opening year balance sheet items under GPP technique of net change method is to be done for which of the following items: a. Both monetary & Non-monetary items b. Only Monetary items c. Only Non-monetary items d. Neither monetary nor non-monetary items
- TB SA Qu. 16-59 (Static) Complete: Complete: Current Assets Cash Accounts receivable Prepaid rent Merchandise inventory Total current assets $ Amount $ $ $ 12,000 9,000 5,000 28,000 Round to Nearest Hundredth Percent % % % % 100 %If the difference between current assets and current liabilities is 84.2, bill payable 183, creditors 30, prepaid expenses 10, then what is the total current assets? Select one: O a. 223.00 O b. All the given choices are not correct O c. 114.20 O d. 307.20 O e. 297.20VOLTE If the difference between current assets and current liabilities is 67.2, bill payable 147.7, creditors 30, prepaid expenses 10, then what is the total current assets? Select one: Oa. All the given choices are not correct Ob. 187.70 Oc. 244.90 Od. 97.20 Oe. 254,90 Next page O O D 个
- If the difference between current assets and current liabilities is 88.7, bill payable 166.5, creditors 30, prepaid expenses 10, then what is the total current assets? Select one: O a. All the given choices are not correct Ob. 206.50 Oc. 118.70 Od. 285.20 O e. 295.201. Compute the current assets.Cash Php 25,867.00Barney’s drawing 50,485.00Accounts Payable 78,584.00Notes Receivable 45,051.00Building 1,500,125.00Inventory 33,669.002. Compute the Net Income.Service Income Php 356,867.00Prepaid Rent 16,800.00Interest Expense 1,523.00Barney’s drawing 21,786.00Taxes 4,544.00Utilities Expense 3,651.003. The liabilities of Bb Barn are equal to 1/3 of thetotal assets. The owner's equity is P 6,300,500. Whatis the amount of the liabilities?4. Prepare journal entries to the following transactionsfor the year 2020.Sept. 1 V Barney invested Php 150,000 in Barney repair ShopSept 3 Purchased equipment worth Php 80,000 on account.Sept. 12 Paid Php 25, 000 for the equipmentpurchased dated Sept. 3, 2020.Sept. 15 Rendered service amounting toPhp 45,000.Sept. 17 Paid salaries to employees, Php16,000Comparative data from the Statement of Financial Position is given below for ACME Corporation for the years 2022 and 2021. Assets Cash Accounts receivable Supplies Total assets Liabilities Current liabilities 2022 $66,000 54,000 7,500 $127,500 $47,100 2021 $83,000 38,200 6,100 $127,300 $51,400