Prepare adjusting journal entries for transactions (a)-(g). Prepare the adjusted trial balance as at 31 December 2019.

The current asset section of the Moorcroft Outboard Motor Company's balance sheet reported the following amounts: Accounts receivable, net The average collection period for 2021 is 50 days. 12/31/2021 12/31/2020 $500,000 $400,000 Required: Determine net sales for 2021. (Use 365 days in a year. Do not round intermediate calculations.) Net sales $ 450,000

Bayley Company has the following trial balance below at December 31, 2020.  All accounts have normal balances.  Account Balance Cash $460,000 Accounts receivable (net of the Allowance for Doubtful Accounts) 352,000 Inventory at the lower of FIFO cost and net realizable value 451,000 Trading Investments 230,000 Buildings (net of accumulated depreciation) 740,000 Equipment (net of accumulated depreciation) 240,000 Land held for Future Use 305,000 Goodwill 89,000 Notes Receivable (due 2025) 91,000 Prepaid Insurance 16,000 Accounts Payable 345,000 Guaranteed Investment Certificates 50,000 Notes Payable (due in 2021) 235,000 Bonds Payable at net carrying value (due February 1, 2021) 83,000 Rent Payable 55,000 Bonds Payable at net carrying value (due December 31, 2028) 746,000 Common shares, unlimited number of shares authorized 400,000 Contributed surplus 190,000 Retained…

Prepare the balance sheet for 2019

Current Ratio Data: Year 2018: 787.25% Year 2019: 951.50% Year 2020: 1105.00% Year 2021:1553.51% Year 2022:1540.03% Question: which of the following transactions and events would result in an improvement in Current Ratio in year 2020? receiving cash for unearned sales revenue a cash receipt from a customer for amounts owing on goods previously sold on credit acquiring cash proceeds from a 5-year interest-only bank loan A and B only A and C only B and C only All of the above None of the above

Hydra Company’s balance sheet at December 31, 2021, is presented below Cash   $ 25,400   Accounts Payable   $ 13,100 Inventory   28,060   Interest Payable   210 Prepaid Insurance   6280   Notes Payable   43,000 Equipment   32,440   Owner’s Capital   35,870     $ 92,180       $ 92,180 During January 2022, the following transactions occurred. ( Hydra Company uses the perpetual inventory system.) 1.   Hydra paid $ 210 interest on the note payable on January 1, 2022. The note is due December 31, 2023. 2.   Hydra purchased $ 230,768 of inventory on account. 3.   Hydra sold for $ 389,200 cash, inventory which cost $ 231,200. Hydra also collected $ 25,170 in sales taxes. 4.   Hydra paid $ 200,400 in accounts payable. 5.   Hydra paid $ 14,950 in sales taxes to the state. 6.   Paid other operating expenses of $ 28,400. 7.   On January 31, 2022, the payroll for the month consists of salaries and wages of $ 65,000. All salaries and wages are subject…