FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE
9th Edition
ISBN: 9781119595724
Author: Kimmel
Publisher: WILEY C
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Presented here are summarized data from the balance sheets and income statements of Wiper Inc.: Dear Bartleby, can you please assist with the following, the data is included. Thank you. Also I would appreciate you sharing your calculations, so if I have further questions, they can be asked.
WIPER INC.Condensed Balance SheetsDecember 31, 2020, 2019, 2018(in millions) 2020 2019 2018Current assets $ 685 $ 917 $ 773 Other assets 2,417 1,924 1,723 Total assets $ 3,102 $ 2,841 $ 2,496 Current liabilities $ 581 $ 816 $ 714 Long-term liabilities 1,510 995 860 Stockholders’ equity 1,011 1,030 922 Total liabilities and stockholders' equity $ 3,102 $ 2,841 $ 2,496
WIPER INC.Selected Income Statement and Other DataFor…
Required:
1) Prepare a formal, classified Balance Sheet based on the info herein
2) Note: the balance in Retained Earnings will be $713, 897
... .... .
P5-2 (LO3) EXCEL (Balance Sheet Preparation) Presented below are a number of balance sheet items for Montoya, Inc., for
the current year, 2017.
$ 125,000
177,591
300,000
15,000
360,000
480,000
445,700
265,000
490,000
"?
Accumulated depreciation-equipment
Inventory
Rent payable (short-term)
Income taxes payable
Rent payable (long-term)
Common stock, $1 par value
Preferred stock, $10 par value
Prepaid expenses
Equipment
Debt investments (trading)
Accumulated depreciation-buildings
Buildings
$ 292,000
239,800
45,000
98,362
480,000
200,000
150,000
87,920
1,470,000
Goodwill
Payroll taxes payable
Bonds payable
Discount on bonds payable
Cash
Land
Notes receivable
Notes payable (to banks)
Accounts payable
Retained earnings
Income taxes receivable
Notes payable (long-term)
121,000
270,200
1,640,000
97,630
1,600,000
Instructions
Prepare a…
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[The following information applies to the questions displayed below.]
A comparative balance sheet and income statement is shown for Cruz, Incorporated.
CRUZ, INCORPORATED
Comparative Balance Sheets
At December 31
2021
2020
Assets
Cash
$ 66,100
$ 16,600
Accounts receivable, net
28,500
35,200
Inventory
59,700
66,100
Prepaid expenses
3,700
3,000
Total current assets
158,000
120,900
Furniture
74,600
85,000
Accumulated depreciation—Furniture
(11,600)
(6,400)
Total assets
$ 221,000
$ 199,500
Liabilities and Equity
Accounts payable
$ 10,400
$ 14,700
Wages payable
6,300
3,500
Income taxes payable
1,000
1,900
Total current liabilities
17,700
20,100
Notes payable (long-term)
20,700
50,500
Total liabilities
38,400
70,600
Equity
Common stock, $5 par value
159,500
125,000
Retained earnings
23,100
3,900
Total liabilities and equity
$ 221,000
$ 199,500…
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