Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The 2012 year-end adjusted balances taken from the general ledger of Cooperstown Services, Inc. are listed below in general ledger order.
Coopertown Suppliers, Inc.
DR
CR
Cash
$12,950
Accounts receivable
28,150
Supplies
8,400
Prepaid insurance
9,500
Land
115,000
Buildings
360,000
Equipment
260,000
Accumulated depreciation
$239,900
Accounts payable
35,300
Salaries payable
7,300
Common stock
31,500
Additional paid-in capital - Commo
15,40
Dividends
25,400
Service revenue
475,000
Salaries expense
335,600
Depreciation expense
25,100
Supplies expense
12,950
Insurance expense
8,200
Miscellaneous expense
30,850
Utilities expense
5,100
Total
$1,237,200
Transfer these accounts and balances to a spreadsheet worksheet and prepare an income statement, a classified balance sheet, and a statement of retained earnings, all in good form using proper headings for each statement. Note that Cooperstown is a service company so there is no cost of goods sold in its chart of accounts. Also, assume that all the liabilities are current liabilities. Keep in mind that you should not report any accounts without balances in your statements.
The purpose of accounting and financial reporting within your organization or an organization with which you are familiar.
on october 1 2009 jack company issued a 5000 6 bond payable. the interest is payable annually each october 1 and the
Explain how each of the events would affect the accounting equation by writing the letter I for increase, the letter D for decrease, and NA for does not affect under each of the components of the accounting equation.
you are the new controller for engineered solutions. the company treasurer randy patey believes that as a result of
gill corporation needs to set a target price for its newly designed product m14-m16. the following data relate to this
at the beginning of 2011 robotics inc. acquired a manufacturing facility for 12 million. 9 million of the purchase
elle inc. has two types of handbags standard and custom. the controller has decided to use a plant wide overhead rate
given the current economic situation what can companies do to boost reported earnings? are there any accounting rules
peter catalanos verde vineyards in oakville california produces three varieties of wine merlot viognier and pinot noir.
Calculate Firm K's net income, average total assets, and return on investment (ROI).
Razar Sharp Company purchased equipment on July 1, 2014, for $50,490. The equipment was expected to have a useful life of three years, or 7,560 operating hours, and a residual value of $1,350.
bradley companys required rate of return is 14. the company has an opportunity to be the exclusive distributor of a
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd