subject
Business, 04.11.2019 22:31 homeowkrkk

The bookkeeper for splish company has prepared the following balance sheet as of july 31, 2017.splish companybalance sheetas of july 31, 2017cash $ 72,080 notes and accounts payable $ 47,080accounts receivable (net) 43,580 long-term liabilities 78,080inventory 63,080 stockholders’ equity 158,580equipment (net) 84,000 $283,740patents 21,000 $283,740 the following additional information is provided.1. cash includes $1,200 in a petty cash fund and $10,960 in a bond sinking fund.2. the net accounts receivable balance is comprised of the following two items: (a) accounts receivable $47,080 and (b) allowance for doubtful accounts $3,500.3. inventory costing $5,090 was shipped out on consignment on july 31, 2017. the ending inventory balance does not include the consigned goods. receivables in the amount of $5,090 were recognized on these consigned goods.4. equipment had a cost of $115,080 and an accumulated depreciation balance of $31,080.5. income taxes payable of $6,000 were accrued on july 31. splish company, however, had set up a cash fund to meet this obligation. this cash fund was not included in the cash balance, but was offset against the income taxes payable amount. prepare a corrected classified balance sheet as of july 31, 2017, from the available information, adjusting the account balances using the additional information. (list current assets in order of

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 17:00
Problems and applications q3 suppose the demand for french bread falls. illustrate the effect this has on the market for french bread. demand supply price of french bread quantity of french bread d 1 d 2 supply producer surplus in the market for french breadincreases . illustrate the effect the quantity change in french bread has on the market for flour. demand supply price of flour quantity of flour d 1 d 2 s 1 s 2 producer surplus in the market for flour .
Answers: 1
question
Business, 22.06.2019 10:50
You are evaluating two different silicon wafer milling machines. the techron i costs $285,000, has a three-year life, and has pretax operating costs of $78,000 per year. the techron ii costs $495,000, has a five-year life, and has pretax operating costs of $45,000 per year. for both milling machines, use straight-line depreciation to zero over the project’s life and assume a salvage value of $55,000. if your tax rate is 24 percent and your discount rate is 11 percent, compute the eac for both machines.
Answers: 3
question
Business, 22.06.2019 11:00
When the federal reserve buys bonds from or sells bonds to member banks, it is called monetary policy reserve ratio interest rate adjustment open market operations
Answers: 1
question
Business, 22.06.2019 13:50
Selected t-account balances for bloomfield company are shown below as of january 31, which reflect its accounting adjustments. the firm uses a calendar-year accounting period, but prepares monthly accounting adjustments.suppliesjan. 31 bal. 1,800 1,800 jan. 31 bal.supplies expensejan. 31 bal. 1,920 1,148 jan. 31 bal.prepaid insurancejan. 31 bal. 1,148 1,148 jan. 31 bal.insurance expensejan. 31 bal. 164 164 jan. 31 bal.wages payablejan. 31 bal. 1,400 1,400 jan. 31 bal.wages expensejan. 31 bal. 6,400 6,400 jan. 31 bal.truckjan. 31 bal. 17,376 17,376 jan. 31 bal.accumulated depreciation -truckjan. 31 bal. 5,068 5,068 jan. 31 bal.a. if the amount in supplies expense represents the january 31 adjustment for the supplies used in january, and $1,240 worth of supplies were purchased during january, what was the january 1 beginning balance of supplies? $answerb. the amount in the insurance expense account represents the adjustment made at january 31 for january insurance expense. if the original insurance premium was for one year, what was the amount of the premium, and on what date did the insurance policy start? amount of the premium $answerthe policy began on answerjune 1july 1august 1september 1october 1november 1 of the previous year.c. if we assume that no beginning balance existed in either in either wage payable or wage expense on january 1, how much cash was paid as wages during january? $answerd. if the truck has a useful life of four years (or 48 months), what is the monthly amount of depreciation expense, and how many months has bloomfield owned the truck? answermonths
Answers: 1
You know the right answer?
The bookkeeper for splish company has prepared the following balance sheet as of july 31, 2017.splis...
Questions
Questions on the website: 13722363