The December 31, 2021 (pre-closing) adjusted trial balance for Kline Enterprises was as follows:

Account Title Debits Credits
Accounts payable 90,000
Accounts receivable 170,000
Accumulated depreciation – equipment 260,000
Common stock 490,000
Cash 26,000
Cost of goods sold 480,000
Depreciation expense 60,000
Equipment 700,000
Interest expense 4,000
Inventory 150,000
Note payable (due in six months) 60,000
Rent expense 30,000
Retained earnings 62,000
Salaries payable 8,000
Sales revenue 770,000
Salaries expense 120,000

Assuming no income taxes, compute the Kline's 12/31/16 total current assets:

Depreciation on the company's equipment for 2017 is computed to be $18,000.the prepaid insurance account had a $6,000 debit balance at december 31, 2017, before adjusting for the costs of any expired coverage. an analysis of the company's insurance policies showed that $1,100 of unexpired insurance coverage remains.the office supplies account had a $700 debit balance on december 31, 2016; and $3,480 of office supplies were purchased during the year. the december 31, 2017, physical count showed $300 of supplies available.two-thirds of the work related to $15,000 of cash received in advance was performed this period.the prepaid insurance account had a $6,800 debit balance at december 31, 2017, before adjusting for the costs of any expired coverage. an analysis of insurance policies showed that $5,800 of coverage had expired.wage expenses of $3,200 have been incurred but are not paid as of december 31, 2017.

How many months does the federal budget usually take to prepare

Powell company began the 2018 accounting period with $40,000 cash, $86,000 inventory, $60,000 common stock, and $66,000 retained earnings. during 2018, powell experienced the following events: sold merchandise costing $58,000 for $99,500 on account to prentise furniture store. delivered the goods to prentise under terms fob destination. freight costs were $900 cash. received returned goods from prentise. the goods cost powell $4,000 and were sold to prentise for $5,900. granted prentise a $3,000 allowance for damaged goods that prentise agreed to keep. collected partial payment of $81,000 cash from accounts receivable. required record the events in a statements model shown below. prepare an income statement, a balance sheet, and a statement of cash flows. why would prentise agree to keep the damaged goods?