Or Houston, m Teponed uhe foiOWing linanIcial statements for 2016 Requirement Reference Reference Calculate the following, enter all amounts in thousands, New borrowing or payment of long-term notes payable. Motorvehicles of Houston had only one long-term note payable transaction during the year. b. Iasuance of common stock or retirement of common stock Motorvehicles of Houston had only one common stock transaction during the Motorvehicles of Houston, Inc. Motorvehicles of Houston, Inc. Comparative Balance Sheets Income Statement December 31, 2018 and 2017 Year Ended December 31, 2018 (In thousands) year Assets 2018 2017 Liabilities 2018 2017 (In thousands) c. Payment of cash dividends (same as dividends declared). 740 Current Current Service revenue Cash 13 Accounts payable 48 S 43 Cost of goods sold 300 27 S Print Done Accounts receivable 51 47 Salary payable 31 27 Salary expense 60 Inventory 73 89 Accrued liabilities 11 14 Depreciation expense 90 Prepaid expenses 7 7 Long-term note payable 68 58 Other expenses 120 8 Plant assets, net 230 185 Total expenses 570 Long-term investments 51 75 Stockholders' Equity 170 Net income Common stock 46 39 236 235 Retained earnings Print Done %24 440 S 416 Total 440 S 416 Total
Or Houston, m Teponed uhe foiOWing linanIcial statements for 2016 Requirement Reference Reference Calculate the following, enter all amounts in thousands, New borrowing or payment of long-term notes payable. Motorvehicles of Houston had only one long-term note payable transaction during the year. b. Iasuance of common stock or retirement of common stock Motorvehicles of Houston had only one common stock transaction during the Motorvehicles of Houston, Inc. Motorvehicles of Houston, Inc. Comparative Balance Sheets Income Statement December 31, 2018 and 2017 Year Ended December 31, 2018 (In thousands) year Assets 2018 2017 Liabilities 2018 2017 (In thousands) c. Payment of cash dividends (same as dividends declared). 740 Current Current Service revenue Cash 13 Accounts payable 48 S 43 Cost of goods sold 300 27 S Print Done Accounts receivable 51 47 Salary payable 31 27 Salary expense 60 Inventory 73 89 Accrued liabilities 11 14 Depreciation expense 90 Prepaid expenses 7 7 Long-term note payable 68 58 Other expenses 120 8 Plant assets, net 230 185 Total expenses 570 Long-term investments 51 75 Stockholders' Equity 170 Net income Common stock 46 39 236 235 Retained earnings Print Done %24 440 S 416 Total 440 S 416 Total
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 8PB: The following select financial statement information from Vortex Computing. Compute the accounts...
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