Neptune Corporation is preparing its December 31, 2018, balance sheet. The following items may be reported as either assets, liabilities or stockholders’ equity.   g) Notes payable of $440,000 is due on 31st January, 2020. h) Neptune restricted 50% of its’ total cash of $330,000 to repay a loan after 2 years. i) Neptune has a claim of $60,000 to be received after 2 months against an insurance company for a causality loss. j) Neptune owns an equipment of $35,000 which is currently unused.   Instructions: For each item above indicate the dollar amounts to be reported as assets, liabilities or stockholders’ equity. Mention the classification as well.

can you show me how to solve this problem for accounting? Presented here are long-term liability items for Metlock, Inc. at December 31, 2022. Bonds payable (due 2026)   $660,000 Notes payable (due 2024)   90,000 Discount on bonds payable   28,000

Rothschild Chair Company, Incorporated, was indebted to First Lincoln Bank under a $20 million, 10% unsecured note. The note was signed January 1, 2014, and was due December 31, 2027. Annual interest was last paid on December 31, 2022. At January 1, 2024, Rothschild Chair Company was experiencing severe financial difficulties and negotiated a restructuring of the terms of the debt agreement. Note: Use appropriate factor(s) from the tables provided. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Required: Prepare all journal entries by First Lincoln Bank to record the restructuring and any remaining transactions, for current and future years, relating to the debt under each of the independent circumstances below: 1. First Lincoln Bank agreed to settle the debt in exchange for land having a fair value of $16 million but carried on Rothschild Chair Company's books at $13 million. 2. First Lincoln Bank agreed to (a) forgive the interest accrued from last year, (b)…

The following balances are extracted from the records of VKS Corporation as of December 31, 2021:·       Commercial savings account, DVD- P1,500,000·       Commercial checking account, DVD- P1,800,000·       Travel advances for executive travel for the 1st quarter of 2022 (employee to reimburse through salary deduction)- P375,000·       Cash fund for retirement of long-term debt- P2,000,000·       Petty cash fund- P20,000·       I.O.U. from an officer- P50,000·       Bank overdraft, BPI- P450,000·       Certificates of deposits, maturity of 120 days acquired on December 1, 2021- P3,000,000·       Check received from customer dated January 2, 2022- P175,000·       Maintaining balance at DVD to ensure future credit availability- P200,000·       Currency and coin on hand not yet deposited - P25,000 How much will be reported as cash and cash equivalents on December 31, 2021?

Galubhai

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On January 2, 2023, Eagle Corp. borrowed $25,000 from Bank Three. The loan was to be repaid in equal principal installments of $5,000, payable on December 31 of each year. beginning on December 31, 2023. Disregarding interest, the amount of the $25,000 loan that should be considered a long-term liability on the company's balance sheet for the year ended December 31, 2024 would be:

A company reported net income of 9.3 million; 10.3 million and 9.7 million for the years 2020, 2021 and 2022 respectively. In an audit conducted in 2022, the following was determined: a. Harry failed to accrue interest on the following notes. It was revealed that Harry recognizes the total interest income on the notes upon its collection on its due date. Principal Date Received Interest Due Date Note receivable - A 500,000 June 1, 2020 12% October 1, 2021 Note receivable - B 400,000 May 31, 2021 15% June 30, 2022 Note receivable - C 750,000 October 31, 2020 18% November 30, 2022 b. Harry paid 15 months' rent on June 1, 2022 amounting to 210,000. Harry uses the asset method in recording prepayments. No adjustments were made yet concerning this. c. Payment of salaries in 2020 amounting to 380,000 was inadvertently charged against the cash on hand. It should have been charged to cash in bank. d. The ending inventory in 2020 is overstated by 450,000 while the beginning inventory in 2022 is…

Heinz Company’s post-closing trial balance as of December 31, 2018, and the adjusted trial balance as of December 31, 2019, are shown here: A review of the accounting records reveals the following additional information: a. Bonds payable with a face value, book value, and market value of $14,000 were retired On June 30, 2019.                                                        b. Bonds payable with a face value of $8,000 were issued at 90.25 On August 1, 2019. They mature on August 1, 2024. The company uses the straight-line method to amortize the bond discount.                                    c. The company sold a building that had an original cost of $8,000 and a book value of $4,800. The company received $2,200 in cash for the building and recorded a loss of $2,600.                                                                       d. Equipment with a cost of $4,000 and a book value of $1,400 was exchanged for an acre of land valued at $2,700. No cash was exchanged.      e.…

9. On August 20, 2025, Micco Co. decides to invest excess cash of $3,200 by purchasing Finch, Inc. bonds. At year-end, December 31, 2025, the market price of the bonds was $2,600. The investment is categorized as available-for-sale debt. Journalize the adjusting entry needed at December 31, 2025. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31, 2025