Question
In: Accounting
For the four unrelated situations, A-D, calculate the unknown amounts indicated by the letters appearing in...
For the four unrelated situations, A-D, calculate the unknown amounts indicated by the letters appearing in each column:
| A | B | C | D | |
|---|---|---|---|---|
| Beginning | ||||
| Assets | $45,000 | $29,000 | $45,000 | (d) |
| Liabilities | 35,600 | 22,000 | 36,000 | 9,000 |
| Ending | ||||
| Assets | 30,000 | 26,000 | 34,000 | 40,000 |
| Liabilities | 17,300 | (b) | 15,000 | 19,000 |
| During the Year | ||||
| Common Stock | 2,000 | 4,500 | (c) | 3,500 |
| Sales Revenue | (a) | 28,000 | 18,000 | 24,000 |
| Dividends | 22,000 | 18,500 | 18,000 | 23,500 |
| Expenses | 25,500 | 38,000 | 28,000 | 34,000 |
Solutions
Expert Solution
|
A |
B | C | D | |
| Beginning | ||||
| Assets | $45,000 | $29,000 | $45,000 | 60,000 |
| Liabilities | 35,600 | 22,000 | 36,000 | 9,000 |
| Equity = Assets - Liabilities | 9,400 | 7,000 | 9,000 | 51,000 |
| Ending | ||||
| Assets | 30,000 | 26,000 | 34,000 | 40,000 |
| Liabilities | 17,300 | 43,000 | 15,000 | 19,000 |
| Equity = Assets - Liabilities | 12,700 | -17,000 | 19,000 | 21,000 |
| Change in Equity = Ending Balance - Beginning Balance | 3,300 | -24,000 | 10,000 | -30,000 |
| During the Year | ||||
| Common Stock | 2,000 | 4,500 | 38,000 | 3,500 |
| Sales Revenue | 48,800 | 28,000 | 18,000 | 24,000 |
| Dividends | 22,000 | 18,500 | 18,000 | 23,500 |
| Expenses | 25,500 | 38,000 | 28,000 | 34,000 |
| Change in Equity = Issuance of common stock + Sales - Dividends - Expenses | 3,300 | -24,000 | 10,000 | -30,000 |
Calculations
ekkarill92 answered 1 year agoRelated Solutions
For the four unrelated situations, A-D, calculate the unknown amounts indicated by the letters appearing in...
For the four unrelated situations, A-D, calculate the unknown
amounts indicated by the letters appearing in each column:
A
B
C
D
Beginning
Assets
$45,000
$29,000
$45,000
(d)
Liabilities
35,600
22,000
36,000
9,000
Ending
Assets
30,000
26,000
34,000
40,000
Liabilities
17,300
(b)
15,000
19,000
During the Year
Common Stock
2,000
4,500
(c)
3,500
Sales Revenue
(a)
28,000
18,000
24,000
Dividends
22,000
18,500
18,000
23,500
Expenses
25,500
38,000
28,000
34,000
6. For each of the following situations involving single amounts, solve for the unknown. Assume that...
6. For each of the following situations involving single
amounts, solve for the unknown. Assume that interest is compounded
annually. (i = interest rate, and n = number of
years) (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and
PVAD of $1) (Use appropriate factor(s) from the tables
provided. Round your final answers to nearest whole dollar
amount.)
Present Value Future Value
i n
1. ? $76,000 11.0% 7
2. $26,933 $90,000 ?...
The following T-accounts represent September activity. Required: Compute the missing amounts indicated by the letters (a)...
The following T-accounts represent September activity.
Required:
Compute the missing amounts indicated by the letters
(a) through (i).
Materials Inventory
BB (9/1)
7,500
(a)
4,300
(b)
EB (9/30)
10,500
Work-In-Process
Inventory
BB (9/1)
20,600
180,500
(e)
121,000
87,700
EB (9/30)
18,000
Finished Goods
Inventory
BB (9/1)
13,800
(e)
(f)
EB (9/30)
(g)
Cost of Goods Sold
397,300
Applied Overhead
Control
(d)
Manufacturing Overhead
Control
121,000
4,300
36,200
30,600
2,200
Wages Payable
124,300
162,000
(c)
36,200
119,500
EB (9/30)
Accumulated
Depreciation—Plant...
The following T-accounts represent September activity. Required: Compute the missing amounts indicated by the letters (a)...
The following T-accounts represent September activity.
Required:
Compute the missing amounts indicated by the letters
(a) through (i).
Materials Inventory
BB (9/1)
7,500
(a)
4,000
(b)
EB (9/30)
9,300
Work-In-Process Inventory
BB (9/1)
22,600
181,500
(e)
121,000
84,200
EB (9/30)
19,000
Finished Goods Inventory
BB (9/1)
13,300
(e)
(f)
EB (9/30)
(g)
Cost of Goods Sold
397,700
Applied Overhead Control
(d)
Manufacturing Overhead Control
121,000
4,000
36,200
30,700
4,900
Wages Payable
124,300
162,000
(c)
36,200
119,500
EB (9/30)
Accumulated Depreciation—Plant...
The following T-accounts represent September activity: Required: Compute the missing amounts indicated by the letters (a)...
The following T-accounts represent September activity:
Required:
Compute the missing amounts indicated by the letters
(a) through (i).
Materials Inventory
BB (9/1)
8,000
(a)
5,100
(b)
EB (9/30)
9,600
Work-In-Process Inventory
BB (9/1)
20,800
179,200
121,000
98,300
EB (9/30)
17,000
Finished Goods Inventory
BB (9/1)
14,900
(e)
(f)
EB (9/30)
(g)
Cost of Goods Sold
396,900
Applied Overhead Control
(d)
Manufacturing Overhead Control
121,000
5,100
36,200
34,000
2,500
Wages Payable
124,300
162,000
(c)
36,200
119,500
EB (9/30)
Accumulated Depreciation—Plant &...
The following T-accounts represent September activity: Required: Compute the missing amounts indicated by the letters (a)...
The following T-accounts represent September activity:
Required:
Compute the missing amounts indicated by the letters (a) through
(i).
Materials Inventory
BB (9/1) 8,000
(a) 5,200
(b)
EB (9/30) 8,800
Work-In-Process Inventory
BB (9/1) 21,800
179,100
121,000
94,000
EB (9/30) 15,900
Finished Goods Inventory
BB (9/1) 13,500
(e) (f)
EB (9/30) (g)
Cost of Goods Sold
397,000
Applied Overhead Control
(d)
Manufacturing Overhead Control
121,000
5,200
36,200
34,300
3,500
Wages Payable
124,300
162,000 (c)
36,200
119,500 EB (9/30)
Accumulated Depreciation—Plant &...
The following T-accounts represent September activity: Required: Compute the missing amounts indicated by the letters (a)...
The following T-accounts represent September activity:
Required:
Compute the missing amounts indicated by the letters
(a) through (i).
Materials Inventory
BB (9/1)
8,000
(a)
4,900
(b)
EB (9/30)
8,900
Work-In-Process Inventory
BB (9/1)
21,100
180,700
121,000
99,200
EB (9/30)
18,500
Finished Goods Inventory
BB (9/1)
14,300
(e)
(f)
EB (9/30)
(g)
Cost of Goods Sold
396,400
Applied Overhead Control
(d)
Manufacturing Overhead Control
121,000
4,900
36,200
30,100
4,400
Wages Payable
124,300
162,000
(c)
36,200
119,500
EB (9/30)
Accumulated Depreciation—Plant &...
6. The following T-accounts represent September activity: Required: Compute the missing amounts indicated by the letters...
6. The following T-accounts represent September activity:
Required:
Compute the missing amounts indicated by the letters
(a) through (i).
Materials Inventory
BB
(9/1)
8,000
(a)
5,100
(b)
EB (9/30)
9,600
Work-In-Process Inventory
BB
(9/1)
20,800
179,200
121,000
98,300
EB (9/30)
17,000
Finished Goods Inventory
BB
(9/1)
14,900
(e)
(f)
EB (9/30)
(g)
Cost
of Goods Sold
396,900
Applied Overhead Control
(d)
Manufacturing Overhead Control
121,000
5,100
36,200
34,000
2,500
Wages
Payable
124,300
162,000
(c)
36,200
119,500
EB (9/30)
Accumulated Depreciation—Plant...
Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced...
Four independent situations are described below. Each involves
future deductible amounts and/or future taxable amounts produced by
temporary differences: ($ in thousands) Situation 1 2 3 4 Taxable
income $ 137 $ 319 $ 325 $ 416 Future deductible amounts 28 33 33
Future taxable amounts 28 28 56 Balance(s) at beginning of the
year: Deferred tax asset 4.6 22 9.2 Deferred tax liability 4.6 4.6
The enacted tax rate is 40%. Required: For each situation,
determine the following:
1...
1. Below are four independent, material and unrelated situations involving accounting changes. Each change occurs during...
1. Below are four independent, material and unrelated
situations involving accounting changes. Each change occurs during
2018 before any adjusting or closing entries were prepared. Assume
a tax rate of 40% and any tax effects are adjusted through the
deferred tax asset or liability account. Discuss and evaluate the
type of accounting change, briefly describe any steps that should
be taken to appropriately report the situation, if you wish to
complete journal entries to document the change, please feel free...
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