These financial statement items are for Majed Company at year-end, July 31, 2012. Salaries and wages...

These financial statement items are for Majed Company at year-end, July 31, 2012.

Salaries and wages payable $ 2,080 Notes payable (long-term) $ 1,800

Cash 14,200 Accounts receivable 9,780

Equipment 30,400 Accumulated depreciation—equip. 6,000

Accounts payable 4,100 Service Revenue 10,000

Common stocks 31,900 Rent Expense 1,000

Dividends 500

Instructions

(A) Prepare a classified balance sheet at July 31.

(B) please find liquidity ratio, working capital, solvency ratio

Solutions

Expert Solution

Answer is given below with working

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

These financial statement items are for Jordan Company at year-end, July 31, 2012. Salaries and wages...

These financial statement items are for Jordan Company at year-end, July 31, 2012. Salaries and wages payable $ 2,080 Notes payable (long-term) $ 1,800 Cash 14,200 Accounts receivable 9,780 Equipment 30,400 Accumulated depreciation—equip. 6,000 Accounts payable 4,100 Service Revenue 10,000 Common stocks 31,900 Rent Expense 1,000 Dividends 500 Instructions (A) Prepare a classified balance sheet at July 31. (B) please find liquidity ratio, working capital, solvency ratio. These financial statement items are for Jordan Company at year-end, July 31, 2012....

These financial statement items are for Monty Company at year-end, July 31, 2019. Salaries and wages...

These financial statement items are for Monty Company at year-end, July 31, 2019. Salaries and wages payable $ 2,500 Notes payable (long-term) $ 1,900 Salaries and wages expense 51,900 Cash 14,400 Utilities expense 22,000 Accounts receivable 10,700 Equipment 31,200 Accumulated depreciation-equipment 6,100 Accounts payable 5,000 Dividends 3,200 Service revenue 61,400 Depreciation expense 3,800 Rent revenue 9,000 Retained Earnings (beginning of the year) 21,200 Common Stock 30,100 Prepare an income statement for the year Prepare a retained earnings statement for the...

These financial statement items are for Ivanhoe Company at year-end, July 31, 2022. Salaries and wages...

These financial statement items are for Ivanhoe Company at year-end, July 31, 2022. Salaries and wages payable $ 3,900 Salaries and wages expense 59,300 Supplies expense 16,900 Equipment 16,580 Accounts payable 3,500 Service revenue 67,900 Rent revenue 9,800 Notes payable (due in 2025) 3,000 Common stock 16,000 Cash 35,620 Accounts receivable 11,000 Accumulated depreciation—equipment 7,900 Dividends 4,000 Depreciation expense 4,000 Retained earnings (beginning of the year) 35,400 1. Prepare an income statement for the year. Ivanhoe Company did not issue...

These financial statement items are for Snyder Corporation at year-end, July 31, 2017. Salaries payable $2,580...

These financial statement items are for Snyder Corporation at year-end, July 31, 2017. Salaries payable $2,580 Salaries expense 48,700 Utilities expense 22,600 Equipment 21,000 Accounts payable 4,100 Commission revenue 61,100 Rent revenue 8,500 Long-term note payable 1,800 Common stock 16,000 Cash 24,200 Accounts receivable 9,780 Accumulated depreciation 6,000 Dividends 5,000 Depreciation expense 4,000 Retained earnings (beginning of the year) 35,200 Instructions Fill in the appropriate amounts to the questions in the answer box below. BE SURE TO SHOW YOUR CALCULATIONS...

These financial statement items are for Rugen Company at year-end, July 31, 2020. Prepare a owner’s...

These financial statement items are for Rugen Company at year-end, July 31, 2020. Prepare a owner’s equity statement for the year. Prepare a classified balance sheet at July 31. Salaries and wages payable $2,980 Notes payable (long-term) $3,000 Salaries and wages expense 45,700 Cash 5,200 Utilities expense 21,100 Accounts receivable 9,780 Equipment 38,000 Accumulated depreciation 6,000 Accounts payable 4,100 Owner’s Drawings 4,000 Service revenue 57,200 Depreciation expense 4,000 Rent revenue 6,500 Owner’s capital (beginning of the year) 48,000

The financial year end of Diary Manufacturing Limited is 31 December. At 31 December 2012, the...

The financial year end of Diary Manufacturing Limited is 31 December. At 31 December 2012, the following balances are available: Item € Land and building at cost 286000 Plant and machinery at cost 210000 Accumulated depreciation on plant and machinery 46000 Purchase of raw material 260200 Sales 635000 Factory rates expenses 6000 Factory heats and light 13000 Account receivables 74400 Account payable 61800 Wages 126000 Direct expenses 18200 Selling expenses 22000 Administration and general expenses 46000 Bank 49000 General reserve...

The Statement of Financial Position date (i.e., the year-end date) for Company AB is 31 December...

The Statement of Financial Position date (i.e., the year-end date) for Company AB is 31 December 2018. The financial accounts for Company AB were approved on 1 March 2019. On 1 February 2019, a major customer of Company AB, announced that they were bankrupt and could not pay the huge amounts they owed to Firm AB For Company AB for the financial year-ended 31 December 2018 this event: Select one: a. None of these answers b. Is not an adjusting...

v The statement of financial position on December 31, 2011, and 2012 for Majan Manufacturing Company...

v The statement of financial position on December 31, 2011, and 2012 for Majan Manufacturing Company includes the liabilities listed below: 2011 On September 15th, 2011, Majan company purchased Inventory from a supplier on credit for $250,000. On October 1st, 2011, Majan borrowed 12 million cash and issued nine months, 12% promissory note. Interest was payable at maturity. On November 1, 2011, Majan rented a portion of its factory to a tenant for $15,000 per year, payable in advance....

Evergreen company financial year-end is December 31.

Evergreen company financial year-end is December 31. Beginning balance: Debit balance of 131: 33.000 (Customer Brox) Credit balance of 2293: 1.000 During the year of Y, the following transactions related to receivables and cash occurred: (Unit: 1000 VND) 1.Sold merchandise to Lennox Company for 11.000 (including 10% VAT) on credit.2.Sold merchandise to Maddox Company for 88.000 (including 10% VAT) for cash in bank 3.Received 50% of the invoice on 28 Feb from Lennox via bank transfer 4.Withdrawn 1.000 from bank checking account for cash on hand. 5.Used...

a) List of income items that are taxed for an individual are as following: - Salaries and wages...

a) List of income items that are taxed for an individual are as following: - Salaries and wages - Any bonus incentive pay - Dividend income from securities owned - Gains from sale of securities - Interest income from money loaned to banks, financial institutions - Consulting fee or retainer compensation - An individual’s income from operating a business after deducting the cost of goods sold from gross income. b) List of items excluded from the calculation of realized income: - Gifts and inheritance - Life insurance proceeds - Social welfare payments...

Subjects