The following is a December 31, 2024, post-closing trial balance for Culver City Lighting, Incorporated. Account Title Cash Accounts receivable Inventory Prepaid insurance Equipment Accumulated depreciation Patent (net) Accounts payable Interest payable Notes payable (due in 10 years) Common stock Retained earnings Totals Debits $ 55,000 39,000 45,000 15,000 100,000 40,000 $ 294,000 Credits $ 34,000 12,000 2,000 100,000 70,000 76,000 $ 294,000 Culver City Lighting, Incorporated. Prepare a classified balance sheet for Note: Amounts to be deducted should be indicated by a minus sign.

Selected accounts from Han Corporation’s trial balance are as follows. Prepare a partial balance sheet listing only the Fixed Assets section. Han Corporation Abbreviated Trial Balance December 31, 2020 Account Name (Acct. #)   Debit Balances   Credit Balances             Cash     150,000     Short-term Marketable Securities     145,000     Accounts Receivable     26,000     Inventories     90,000     Other Current Assets     10,000     Land     350,000     Buildings     300,000     Accumulated Depreciation: Buildings         40,000 Equipment     145,000     Accumulated Depreciation: Equipment         150,000 Goodwill     40,000     Other Intangible Assets     20,000

The hypothetical company XYZ Inc started its operations in 2020. On December 31 2020, it had the following adjusted trial balance:   Account Balance ($) Notes Payable 20,000 Wages Payable 8,000 Additional Paid In Capital 300,000 Common Stock at par value 60,000 A/P 60,000 PP&E (at cost) 110,000 Inventory 62,000 Cash 419,000 Unearned Revenues 10,000 Accumulated Depreciation 10,000 Account Receivables ? Retained Earnings 230,000       During 2021 the following transactions occurred:   A dividend of $20,000 was declared during 2021. These dividends will be paid in 2022. During the year the company performed and delivered services and billed its clients for $900,000. Collections from customers were $800,000. In addition to the transactions described in items 3 above, products were shipped to the customers who paid $10,000 in advance (see December 31, 2020 balances). The selling price was $80,000…

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…

Wright Corporation had the following permanent accounts and ending balances on December 31, 2019 (before adjusting entries):   Dr. ($) Cr. ($) Cash 400,000   Equipment 1,600,000   Bonds payable   950,000 Retained earnings   300,000 Allowance for Doubtful Accounts       9,000 FV-OCI investments 600,000   Inventory 720,000   Accumulated Depreciation-Equipment   120,000 Accounts payable   560,000 Accounts receivable 320,000   Common shares   1,700,000 Accumulated OCI      30,000 Prepaid insurance 20,000   FV-NI investments 180,000     There were no transactions recorded in Allowance for Doubtful Accounts during the year.  The company should recognize bad debt expenses for $7,000 at the end of 2019.  The company prepaid $20,000 for one-year insurance becoming effective on April 1, 2019.  The company purchased the equipment on July 1, 2017, and estimated that the…

38 es Maps On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2022) Common Stock Retained Earnings Totals Saved Help