Homework Answers
Amount for the Total Current Assets are as follows:
Cash $ 55,000/-
Account Receivable $305,000/-
Prepaid Expenses $32,000/-
Total Current Asset $392,000/-
Amount of Long Term Investment is as follow :
As per in Accounting term the Investment which we are held for more than one year is known as Long term investment.
Investment $40,000/-
Idle Machinery $ 45,000/- ( as it is idle and no value added in the organisation economical resources as it is classified as investment and not as asset)
Total Long term Investment $ 85,000/-
Add Answer to:
whats the amount if current assets and then tota long term
imvestments
ne following is a...
whats total Long term liabilities, amount of current liaabilities, and total PPE ne following is a...
whats total Long term liabilities, amount of current
liaabilities, and total PPE
ne following is a December 31, 2019, post-closing trial balance for Desert Company: Credits Debits $ 83,000 $280,000 $ 32,000 Account Title Cash Accounts Receivable (net of Allowance) Prepaid Expenses Investments Land Buildings (net) Equipment (net) Accounts Payable Accrued Expenses Unearned Revenue Notes Payable Common Stock Retained Earnings TOTALS $ 65,000 $175,000 $160,000 $145,000 $ 73,000 $ 45,000 $150,000 $300,000 $200,000 $172,000 $940,000 $940,000 1. The cash account...
what is total PPE, other assests, and currwnt liabilities ne following is a December 31, 2019,...
what is total PPE, other assests, and currwnt
liabilities
ne following is a December 31, 2019, post-closing trial balance for Desert Company: Credits Debits $ 83,000 $280,000 $ 32,000 Account Title Cash Accounts Receivable (net of Allowance) Prepaid Expenses Investments Land Buildings (net) Equipment (net) Accounts Payable Accrued Expenses Unearned Revenue Notes Payable Common Stock Retained Earnings TOTALS $ 65,000 $175,000 $160,000 $145,000 $ 73,000 $ 45,000 $150,000 $300,000 $200,000 $172,000 $940,000 $940,000 1. The cash account includes $15,000 set...
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (6) QUESTIONS: The following is a December 31,...
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (6) QUESTIONS: The following is a December 31, 2019, post-closing trial balance for Desert Company: Account Title Debits Credits Cash $ 83,000 Accounts Receivable (net of Allowance) $280,000 Prepaid Expenses $ 32,000 Investments $ 65,000 Land $175,000 Buildings (net) $160,000 Equipment (net) $145,000 Accounts Payable $ 73,000 Accrued Expenses $ 45,000 Unearned Revenue $150,000 Notes Payable $300,000 Common Stock $200,000 Retained Earnings $172,000 TOTALS $940,000 $940,000 Additional Information: 1. The cash account...
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (6) QUESTIONS: The following is a December 31,...
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (6) QUESTIONS: The following is a December 31, 2019, post-closing trial balance for Desert Company: Account Title Debits Credits Cash $ 83,000 Accounts Receivable (net of Allowance) $280,000 Prepaid Expenses $ 32,000 Investments $ 65,000 Land $175,000 Buildings (net) $160,000 Equipment (net) $145,000 Accounts Payable $ 73,000 Accrued Expenses $ 45,000 Unearned Revenue $150,000 Notes Payable $300,000 Common Stock $200,000 Retained Earnings $172,000 TOTALS $940,000 $940,000 Additional Information: 1. The cash account...
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (6) QUESTIONS: The following is a December 31,...
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (6) QUESTIONS: The following is a December 31, 2018, post-closing trial balance for Desert Company: Account Title Debits Credits Cash $ 83,000 Accounts Receivable (net of Allowance) $256,000 Prepaid Expenses $ 32,000 Investments $ 65,000 Land $175,000 Buildings (net) $160,000 Equipment (net) $145,000 Accounts Payable $ 73,000 Accrued Expenses $ 45,000 Unearned Revenue $150,000 Notes Payable $300,000 Common Stock $200,000 Retained Earnings $148,000 TOTALS $916,000 $916,000 Additional Information: 1. The cash account...
The following is the ending balances of accounts at June 30, 2016, for Excell Company. Account Title Cash Short-term in...
The following is the ending balances of accounts at June 30, 2016, for Excell Company. Account Title Cash Short-term investments Accounts receivable Debits 113,000 95,000 310,000 62,000 105,000 350,000 Credits Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Accounts payable Accrued expenses Notes payable Mortgage payable Common stock Retained earnings 175,000 280,000 135,000 188,000 60,000 130,000 350,000 250,000 27,000 Totals 1,315,000 1,315,000 Additional information: 1. The short-term investments account includes $33,000 in U.S. treasury bills purchased in May. The...
The following is the ending balances of accounts at June 30, 2018 for Excell Company. Account...
The following is the ending balances of accounts at June 30,
2018 for Excell Company.
Account Title
Debits
Credits
Cash
$
93,000
Short-term investments
75,000
Accounts receivable
290,000
Prepaid expenses
42,000
Land
85,000
Buildings
330,000
Accumulated depreciation—buildings
$
165,000
Equipment
270,000
Accumulated depreciation—equipment
125,000
Accounts payable
178,000
Accrued expenses
50,000
Notes payable
110,000
Mortgage payable
240,000
Common stock
150,000
Retained earnings
167,000
Totals
$
1,185,000
$
1,185,000
Additional information:
The short-term investments account includes $23,000 in U.S.
treasury bills purchased...
The following is the ending balances of accounts at June 30, 2018 for Excell Company. Credits...
The following is the ending balances of accounts at June 30, 2018 for Excell Company. Credits $ Debits 123,000 105,000 320,000 72,000 115,000 360,000 Account Title Cash Short-term investments Accounts receivable Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Accounts payable Accrued expenses Notes payable Mortgage payable Common stock Retained earnings 180,000 285,000 140,000 193,000 65,000 140,000 330,000 300,000 32,000 $1,380,000 Totals $1,380,000 Additional information: 1. The short-term investments account includes $38,000 in U.S. treasury bills purchased in...
The following is the ending balances of accounts at June 30, 2021, for Excell Company. Account...
The following is the ending balances of accounts at June 30, 2021, for Excell Company. Account Title Debits Credits Cash $ 93,000 Short-term investments 75,000 Accounts receivable (net) 290,000 Prepaid expenses (for the next 12 months) 42,000 Land 85,000 Buildings 330,000 Accumulated depreciation—buildings $ 165,000 Equipment 270,000 Accumulated depreciation—equipment 125,000 Accounts payable 178,000 Accrued liabilities 50,000 Notes payable 110,000 Mortgage payable 240,000 Common stock 150,000 Retained earnings 167,000 Totals $ 1,185,000 $ 1,185,000 Additional information: The short-term investments account includes...
Additional Information: 1. The short-term investments account includes $23,000 in U.S. treasury bills purchased in May....
Additional Information: 1. The short-term investments account includes $23,000 in U.S. treasury bills purchased in May. The bills mature in July, 2021. 2. The accounts recevable account consists of the following: 2. Amounts oved by customers b. Allowance for uncollectible accounta-trade customers c.Nontrade notes receivable (due in three years) d. Interest receivable on notes (due in four months) Total $ 232,000 (18,000) 70,000 6,000 $ 290,000 3. The notes payable account consists of two notes of $55,000 each. One note...
whats total Long term liabilities, amount of current
liaabilities, and total PPE
ne following is a December 31, 2019, post-closing trial balance for Desert Company: Credits Debits $ 83,000 $280,000 $ 32,000 Account Title Cash Accounts Receivable (net of Allowance) Prepaid Expenses Investments Land Buildings (net) Equipment (net) Accounts Payable Accrued Expenses Unearned Revenue Notes Payable Common Stock Retained Earnings TOTALS $ 65,000 $175,000 $160,000 $145,000 $ 73,000 $ 45,000 $150,000 $300,000 $200,000 $172,000 $940,000 $940,000 1. The cash account...
what is total PPE, other assests, and currwnt
liabilities
ne following is a December 31, 2019, post-closing trial balance for Desert Company: Credits Debits $ 83,000 $280,000 $ 32,000 Account Title Cash Accounts Receivable (net of Allowance) Prepaid Expenses Investments Land Buildings (net) Equipment (net) Accounts Payable Accrued Expenses Unearned Revenue Notes Payable Common Stock Retained Earnings TOTALS $ 65,000 $175,000 $160,000 $145,000 $ 73,000 $ 45,000 $150,000 $300,000 $200,000 $172,000 $940,000 $940,000 1. The cash account includes $15,000 set...
The following is the ending balances of accounts at June 30, 2016, for Excell Company. Account Title Cash Short-term investments Accounts receivable Debits 113,000 95,000 310,000 62,000 105,000 350,000 Credits Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Accounts payable Accrued expenses Notes payable Mortgage payable Common stock Retained earnings 175,000 280,000 135,000 188,000 60,000 130,000 350,000 250,000 27,000 Totals 1,315,000 1,315,000 Additional information: 1. The short-term investments account includes $33,000 in U.S. treasury bills purchased in May. The...
The following is the ending balances of accounts at June 30,
2018 for Excell Company.
Account Title
Debits
Credits
Cash
$
93,000
Short-term investments
75,000
Accounts receivable
290,000
Prepaid expenses
42,000
Land
85,000
Buildings
330,000
Accumulated depreciation—buildings
$
165,000
Equipment
270,000
Accumulated depreciation—equipment
125,000
Accounts payable
178,000
Accrued expenses
50,000
Notes payable
110,000
Mortgage payable
240,000
Common stock
150,000
Retained earnings
167,000
Totals
$
1,185,000
$
1,185,000
Additional information:
The short-term investments account includes $23,000 in U.S.
treasury bills purchased...
The following is the ending balances of accounts at June 30, 2018 for Excell Company. Credits $ Debits 123,000 105,000 320,000 72,000 115,000 360,000 Account Title Cash Short-term investments Accounts receivable Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Accounts payable Accrued expenses Notes payable Mortgage payable Common stock Retained earnings 180,000 285,000 140,000 193,000 65,000 140,000 330,000 300,000 32,000 $1,380,000 Totals $1,380,000 Additional information: 1. The short-term investments account includes $38,000 in U.S. treasury bills purchased in...
Additional Information: 1. The short-term investments account includes $23,000 in U.S. treasury bills purchased in May. The bills mature in July, 2021. 2. The accounts recevable account consists of the following: 2. Amounts oved by customers b. Allowance for uncollectible accounta-trade customers c.Nontrade notes receivable (due in three years) d. Interest receivable on notes (due in four months) Total $ 232,000 (18,000) 70,000 6,000 $ 290,000 3. The notes payable account consists of two notes of $55,000 each. One note...
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