Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Financial Accounting Expert

The following information is available for beth company at December 31, 2016. 7% long term note payable = 230,000. accounts payable= 220,000. accounts recievable = 102,000. accumulated depreciation = 109,600. allowance for doubtful accounts= 5,800. buildings and equipment= 400,000. Capital stock $2 par, authorized 400,000 shares, issued and outstanding shares 30,000= 60,000. cash on hand= 44,825. cash surrender value of life insurance policies long term benefit= 10,800. current installment of long term debt 7% note=20,000. depreciation expense= 19,900. discontinued operational loss= 42,000. dividends recieved as revenue= 4,500. error in inventory pricing in 2012= 12,500. income taxes payable (current)= 36,625. inventories at fifo cost ( with a market value of 352,000)= 332,600. long term note recievable- advances to subsidary= 50,000. paid in capital in excess of par=155,200. patents= 58,500. retained earnings- ending 12/31/16 (adjusted)= 232,800. sales= 450,000. sales return and allowances= 3,100. short term investment- us treasury bill- 60 day duration= 26,000. short term pre payments of expenses= 3,500. tradidng marketable securities( listed at cost, with a market value of 51,800) = 58,500. uncollectable account expense= 12,000. unearned revenue= 10,000. prepare a classified balance sheet showing all necessary information. notes are not required as of 12/31/16. accounts are listed in alphabetical order.

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M92041477

Have any Question?


Related Questions in Financial Accounting

Accounting financial assignment -question - in recent years

Accounting Financial Assignment - Question - In recent years a number of companies have gone into liquidation (been 'wound up') because they have not been able to meet their liabilities when they fell due. In Australia, ...

At the start of 2013 shasta corporation has 15000

At the start of 2013, Shasta Corporation has 15,000 outstanding shares of preferred stock, each with a $60 par value and a cumulative 7% annual dividend. The company also has 28,000 shares of common stock outstanding wit ...

Sweet treats common stock is currently priced at 3672 a

Sweet treats common stock is currently priced at $36.72 a share. The company just paid $2.18 per share as its annual dividend. The dividends have been increasing by 2,2 percent annually and are expected to continue doing ...

What has been strides position on dividend payouts in the

What has been Strides' position on dividend payouts in the past (pattern, relationship with earnings, etc.)? What factors affected its dividend policy?

Case study - the athletes storerequiredonce you have read

Case Study - The Athletes Store Required: Once you have read through the assignment complete the following tasks in order and produce the following reports Part 1 i. Enter the business information including name, address ...

Assessment 1develop complex spreadsheetsthis is an

Assessment 1 Develop Complex Spreadsheets This is an assessment that may be worked on in study time and as homework. Assessment presentation should be completed in a manner that is appropriate to professional business re ...

An investment offers 6800 per year with the first payment

An investment offers $6,800 per year, with the first payment occurring one year from now. The required return is 7 percent. a. What would the value be today if the payments occurred for 20 years?  b. What would the value ...

Assignment -part a -background saturn petcare australia and

Assignment - Part A - Background: Saturn Petcare Australia and New Zealand is Australia's largest manufacturer of pet care products. Saturn have been part of the Australian and New Zealand pet care landscape since openin ...

Advanced financial accounting assignment -assessment task

Advanced Financial Accounting Assignment - Assessment Task Part A - In an article entitled 'Unwieldy rules useless for investors' that appeared in the Australian Financial Review on 6 February 2012 (by Agnes King), the f ...

In its first year of operations cullumber company

In its first year of operations, Cullumber Company recognized $31,800 in service revenue, $6,600 of which was on account and still outstanding at year-end. The remaining $25,200 was received in cash from customers. The c ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As