Green Valley Company prepared the following trial balance at the end of its first year of operations ending December 31. To simplify the case, the amounts given are in thousands of dollars. Cash Account Titles Accounts receivable Prepaid insurance Machinery Accumulated depreciation Accounts payable Wages payable Income taxes payable Common stock (5,000 shares) Additional paid-in capital Retained earnings Revenues (not detailed) Expenses (not detailed) Totals UNADJUSTED Debit 26 Credit 23 18 85 19 65 55 17 113 33 202 202 Other data not yet recorded at December 31 include a. Insurance expired during the current year, $11. b. Wages payable, $12. c. Depreciation expense for the current year, $14. d. Income tax expense, $11. GREEN VALLEY COMPANY Income Statement (in thousands of dollars) Prepaid insurance 10 0 Earnings per share

Use the following information for the next three questions:The ledger of COLTISH UNDISCIPLINED Co. in 20x1 includes the following:Jan. 1, 20x1 Dec. 31, 20x1Current assets 1,200,000 ?Noncurrent assets 4,000,000 ?Current liabilities 900,000 1,000,000Noncurrent liabilities ? 3,000,000 Additional information:- COLTISH’s working capital as of December 31, 20x1 is twice as much as the working capital as of January 1, 20x1.- Total equity as of January 1, 20x1 is ₱1,700,000. Profit for the year is ₱2,400,000 while dividends declared amounted to ₱1,000,000. There were no other changes in equity during the year.  How much is the total current assets as of December 31, 20x1?a. 1,600,000b. 800,000c. 300,000d. 2,200,000

Selected accounts from Lue Company's adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet. Total equity Equipment Salaries payable Accounts receivable Cash Current portion of long-term debt Notes payable (due in 6 years) LUE COMPANY Balance Sheet December 31 Assets $ 31,500 Employee federal income taxes payable 41,500 Federal unemployment taxes payable 35,500 FICA-Medicare taxes payable 8,300 55,100 5,500 10,000 FICA-Social Security taxes payable Employee medical insurance payable State unemployment taxes payable Sales tax payable (due in 2 weeks) $ 10,300 210 560 4, 200 3,500 3,200 430

On September 1. Year 1, Western Company loaned $36,600 cash to Eastern Company. The one year note carried a 6% rate of interest. The amount of interest revenue on the income statement and the amount of cash flow from operating activities shown on Western's Year 2 financial statements would be Multiple Choice $732 interest revenue and $2196 cash inflow from operating activmes $1.464 imerest revenue and $2,196 cash inflow from operating activities

The following accounts, in alphabetical order, appear on the trial balance for a company. What is the total for long-term liabilities? Accounts Payable $32,000Deferred Income Taxes $61,000Interest Payable $17,000Current Portion of Long-term Notes $19,000Mortgage $92,000Notes Payable-Short term $11,000Notes Payable-Long term $41,000Salaries Payable $7,000Taxes Payable $23,000Unearned Revenue $15,000 $194,000 $124,000 $213,000 $217,000 $109,000

On June 1, Davis Inc. issued an $89,300, 8%, 120-day note payable to Garcia Company. Assume that the fiscal year of Garcia ends June 30. Using a 360-day year, what is the amount of interest revenue recognized by Garcia in the following year? When required, round your answer to the nearest dollar. a. $1,806 Ob. $7,144 O c. $595 Od. $1,191 B

Cora's Cookie Company provided the following account balances from its​ year-end trial balance. During the​ year, Cora issued​ no-par common stock. The proceeds of the new issue were $30,000. The company is subject to a 40​% income tax rate. The beginning balance in common stock was $510,000.    Cora’s Cookie Company Trial Balance (Selected Accounts) For the Current Year Ended December 31 Account Debit Credit Retained Earnings, Beginning Balance $1,317,000 Accumulated Other Comprehensive Income, Beginning Balance $56,750   Dividends 53,000   Sales 1,405,000 Interest Income 3,600   Dividend Income 3,850   Gain on Sale of Property 6,200   Gain on Disposal of Plant Assets 65,000   Unrealized Gain on Trading Investments 27,350   Unrealized Gain on Available-for-Sale Bonds before Tax 3,700   Gain on Sale of Discontinued Operations before Tax 59,200   Cost of Goods Sold 600,000   Selling Expenses 36,000   Office Supplies Expense 55,600   Amortization Expense 11,500   Sales Salaries…

On June 1, Davis Inc. issued an $84,000, 5%, 120-day note payable to Garcia Company. Assume that the fiscal year of Garcia ends June 30. Using the 360-day year, what is the amount of interest revenue (rounded) recognized by Garcia in the following year? a.$4,200 b.$1,600 c.$700 d.$1,050

Collette​'s Cookie Company provided the following account balances from its​ year-end trial balance. During the​ year, Collette issued​ no-par common stock. The proceeds of the new issue were $20,000 . The company is subject to a 40​% income tax rate. The beginning balance in common stock was $460,000 . Collette’s Cookie CompanyTrial Balance (Selected Accounts)For the Current Year Ended December 31AccountDebitCreditRetained Earnings, Beginning Balance $1,100,300Accumulated Other Comprehensive Income, Beginning Balance$52,350 Dividends54,000 Sales 1,100,000Interest Income 3,300Dividend Income 3,650Gain on Sale of Property 6,500Gain on Disposal of Plant Assets 85,000Unrealized Gain on Trading Investments 27,350Unrealized Gain on Available-for-Sale Bonds before Tax 3,400Gain on Sale of Discontinued Operations before Tax 50,600Cost of Goods Sold400,000 Selling Expenses33,000 Office Supplies Expense56,700 Amortization Expense11,500 Sales Salaries Expense24,000 Advertising Expense23,000…

On June 1, Davis Inc. issued an $84,000, 5%, 120-day note payable to Garcia Company. Assume that the fiscal year of Garcia ends June 30. Using 360-day year, what is the amount of interest revenue recognized by Garcia in the following year? a. $700 b. $1,600 c. $1,062 d. $4,200 e. None of the above.