User Account

All Pages

Complete the corrected balance sheet below

Assignment Help Accounting Basics
Reference no: EM13508249

Mike Paul is the bookkeeper for Benelli Company. Mike has been trying to get the balance sheet of Benelli Company to balance. It finally balanced, but now he's not sure it is correct.

BENELLI COMPANY

Balance Sheet

December 31, 2010

Assets

Liabilities and Stockholders' Equity

Cash

20,500

Accounts payable

16,000

Supplies

9,500

Accounts receivable

(12,000)

Equipment

40,000

Common stock

40,000

Dividends

8,000

Retained earnings

34,000

Total assets

78,000

Total liabilities and stockholders' equity

Complete the corrected balance sheet below. (List assets in order of liquidity.)

 

Reference no: EM13508249

Questions Cloud

What is the magnitude of the force due to friction : A block of mass m lies on a horizontal table. The coefficient of static friction between the block and the table is mu_s. If the block is at rest, what is the magnitude of the force due to friction
Complete the flexible manufacturing budget : Complete the flexible manufacturing budget for the relevant range value using 20,000 unit increments. All areas needed filled in except for gray shaded areas.
What was its 2010 net income : If Soule Company had net income of $585,000 in 2011 and it experienced a 30% increase in net income over 2010, what was its 2010 net income?
Calculate the total horizontal distance covered : A projectile is fired with an initial speed of 65.9 m/s at an angle of 37.8 degree above the horizontal on a long flat firing range. Determine the total horizontal distance covered (that is, the range)
Complete the corrected balance sheet below : Mike Paul is the bookkeeper for Benelli Company. Mike has been trying to get the balance sheet of Benelli Company to balance. It finally balanced, but now he's not sure it is correct.
Find where will the ball land horizontally from the bridge : A ball is thrown horizontally off a bridge at 35m/s. The bridge is 25m above the water below. Where will the ball land horizontally from the bridge
Calculate natural resource accounting : During the first year, McCabe removed 90,000 barrels of oil, which it sold on account for $39 per barrel. Operating expenses totaled $850,000, all paid in cash.
Why are the data that jack has gathered qualitative : Why are the data that Jack has gathered qualitative in nature and describe the steps in qualitative data analysis (data reduction, data display, and the drawing of conclusions) on the basis of Jack's study
By what angle do polarizing directions of two sheets differ : A beam of polarized light is incident upon the first of two polarizing sheets with its polarization direction making an angle of 45° with respect to the polarizing direction of the first sheet. By what angle do the polarizing directions of the two ..

Reviews

Write a Review

Accounting Basics Questions & Answers

  Requirements of incorporating the business

Discuss in detail the requirements of incorporating the business, the advantages and disadvantages, and provide JJ with recommendations.

  Average collection period for accounts receivable

Compute 3M's average collection period for accounts receivable in days. (Round turnover ratio to 1 decimal place, e.g. 10.5 and collection period to 0 decimal places, e.g. 125.)

  The improvements in the number of defective units

If BestCo were to measure the improvements in the number of defective units, what perspective on the Balanced Scorecard would report this measure?

  The citys financial advisors believe that it will be able

metro city needs 200000000 to build a light-rail system. the citys financial advisors believe that it will be able to

  Cash basis taxpayers

On January 5, 2010, Jane purchased a bond paying interest at 6% for $30,000. On September 30, 2010, she gave the bond to Tim. The bond pays $1,800 interest on December 31. Jane and Tim are cash basis taxpayers. When Tim collects the interest in De..

  Explain how you structured the chart of accounts

Ollie Mace has recently been appointed controller of S. Dilley & Company, a family-owned manufacturing firm founded 28 years ago. The firm manufactures automotive parts. Its four major operating divisions are heat treating, extruding, small parts ..

  What is the companys contribution margin cm ratio estimate

last month when harrison creations inc. sold 40000 units total sales were 300000 total variable expenses were 240000

  Select an organization with which you are familiar make a

select an organization with which you are familiar. prepare a 1050- to 1400-word paper in which you evaluate the

  How much greater or less than the cost that was incurred

Harmon Household Products, Inc., manufactures a number of consumer items for general household use. One of these products, a chopping board, requires an expensive hardwood. During a recent month, the company manufactured 4,000 chopping boards usin..

  Irregularities led to one of the largest bankruptcies in u.s

Enron Corporation was a darling in the energy-provider arena, and in January 2001 its stock price rose above $100 per share. A collapse of investor confidence in 2001 and revelations of accounting irregularities led to one of the largest bankr..

  Revenue or payroll cycle at your organization

Describe the revenue or payroll cycle at your organization? What source documentation is used in the revenue and payroll cycles at your organization? - answer 150-200 words.

  Fact pattern for questions 11 and 12 multiple choice questio

Fact Pattern for Questions 11 and 12 multiple choice questions

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd