The adjusted trial balance of Concord Corporation at December 31, 2017, includes the following accounts: Retained Earnings $17,247, Dividends $4,512, Service Revenue $37,445, Salaries and Wages Expense $14,780, Insurance Expense $1,980, Rent Expen $4,028, Supplies Expense $1,479, and Depreciation Expense $893. Prepare an income statement for the year. Retained Earnings. December 31 CONCORD CORPORATION Income Statement For the Year Ended December 31, 2017 LA tA $ tA

Refer to the 3.00% senior notes due May 2027. Calculate the interest expense on this note for fiscal year 2022.

Byrd Company had the following transactions during 2019 and 2020:              1. Prepare the journal entries for Byrd for both 2019 and 2020. Assume that the net price method is used to account for the credit terms.                          2. Show how the preceding items would be reported in the current liabilities section of Byrd’s December 31, 2019, balance sheet.                                        3. Next Level Assuming Byrd’s current assets were $1,200,000 and its current ratio was 2.4 at the end of 2018, compute the current ratio at the end of 2019 (based solely on the effects of the preceding transactions).

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Required: 1. Calculate the total current assets at December 31, 2021. 2. Calculate the total liabilities and stockholders' equity at December 31, 2021. 3. Calculate the earnings from operations (operating income) for the year ended December 31, 2021. 4. Calculate the net income (or loss) for the year ended December 31, 2021. 5. What was the average income tax rate for the company for 2021? 6. If 48,000 of dividends had been declared and paid during the year, what was the January 1, 2021, balance of retained earnings? Assume that all balance sheet items reflect account balances at December 31, 2021 of ABC Ind, and that all income statement items reflect activities that occurred during the year then ended. Accounts receivable Depreciation expense Land Cost of goods sold Retained earnings Cash Equipment Supplies Accounts payable Service revenue Interest expense Common stock Income tax expense Accumulated depreciation Long-term debt Supplies expense Merchandise inventory Net sales 99,000…

Lansing Company’s 2018 income statement and selected balance sheet data (for current assets and current liabilities) at December 31, 2017 and 2018, follow.  LANSING COMPANYIncome StatementFor Year Ended December 31, 2018 Sales revenue $ 100,200 Expenses     Cost of goods sold   43,000 Depreciation expense   12,500 Salaries expense   19,000 Rent expense   9,100 Insurance expense   3,900 Interest expense   3,700 Utilities expense   2,900 Net income $ 6,100      LANSING COMPANYSelected Balance Sheet Accounts At December 31 2018   2017   Accounts receivable $ 5,700   $ 6,000   Inventory   2,080     1,590   Accounts payable   4,500     4,800   Salaries payable   900     710   Utilities payable   240     170   Prepaid insurance   270     300   Prepaid rent   240     190       Required:Prepare the cash flows from operating activities section only of the company’s 2018 statement of cash flows using the direct method. (Amounts to be…

The following items were taken from the adjusted trial balance of the Dylex Corporation for the year ended December 31, 2020. Assume an average 25% income tax on all ens. The accounting period ends December 31, and all amounts given are pre-tax. Dylex Corporation had 11,000 common shares outstanding in 2020 and follows IFRS Cost of goods sold Depreciation expense, building Gain on exchange Gain on sale of assets from discontinued operations Insurance expense Interest expense Interest income Loss on sale of trading investment 140,000 23,000 a) Prepare a multi-step income statement in good form. Please make sure your final anewarts) are accurate to 2 decimal places Dylex Corporation For the Year Ended December 31, 200 125,000 100,000 54,000 52,000 X 58,000 135,000 Operating loss of discontinued operation to disposal date 100,000 Salaries expense 160.000 Sales ** 900,000 REQUIRED DISCLOSURES b) Calculate basic eamings per share (EPS) from continuing operations. Please make sure your final…

Applying the Fundamental Accounting Equation At the beginning of 2019, KJ Corporation had total assets of $554,000, total liabilities of $261,800, common stock of $139,300, and retained earnings of $152,900. During 2019, KJ had net income of $225,200, paid dividends of $74,400, and issued additional common stock for $93,900. KJ's total assets at the end of 2019 were $721,800. Required: Calculate the amount of liabilities that KJ must have at the end of 2019 in order for the balance sheet equation to balance.

The current ratio is defined as current assets divided by current liabilities. On December 29, 2021 Ohio Company had current assets of $200 and current liabilities of $100. On December 30, Ohio paid salary payable int the amount of $50. Calculate the current ratio on December 31, 2021.