The following items were taken from the financial statements of J. Parra Company on December 31, 2024.
Question:
The following items were taken from the financial statements of J. Parra Company on December 31, 2024. (All amounts are in thousands.)
Instructions
Prepare a classified balance sheet in good form as at December 31, 2024.
Transcribed Image Text:
Long-term debt Prepaid insurance Equipment Long-term investments Short-term investments Notes payable (due in 2025) Cash $ 1,000 880 11,500 264 3,690 500 2,668 Accumulated depreciation equipment Accounts payable Notes payable (due after 2025) J. Parra, capital Accounts receivable Merchandise inventory $ 5,655 1,444 400 12,955 1,696 1,256
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (5 reviews)
Current assets Cash Shortterm investments Accounts receivable Merch...View the full answer
Answered By
Abhishek Pandey
I love to solve problems whether it be quantum physics or crossword puzzles. During my college, I volunteered at a student run NGO and taught underprivileged kids basic Math and Science. My time teaching there has allowed myself to discover the love for teaching in clear language and concepts without introducing unnecessary complexities. I possess good communication skills and proficiency in written and spoken English essential for teaching. My peers have always vouched for me owing to my patience in the teaching process.
0.00
0 Reviews
10+ Question Solved
Related Book For
Accounting Principles Volume 1
ISBN: 9781119786818
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
Question Posted:
Students also viewed these Business questions
-
Prepare a Budget & Break-Even analysis of your own food truck business. from a mathematical equation by using the contribution margin from a cost-volume-profit (CVP) graph Category 2 Prepare...
-
The following items were taken from the financial statements of D. Gygi Company. (All amounts are in thousands.) Instructions Prepare a classified balance sheet in good form as of December 31, 2019....
-
The following items were taken from the financial statements of Sexton Company. (All dollars are in thousands.) Instructions Prepare a classified balance sheet in good form as of December 31,2014....
-
Two forces are acting on the 5 kg object, with only one of them shown in Fig. 1. Knowing that F = 20 N, 0 = 30 and that the object is moving at a constant acceleration of a = 12 m/s, find the second...
-
Furniture Showcase reported the following for its fiscal year ended June 30, 2010: Sales .................$ 530,000 Cost of sales .......300,000 Gross margin ......230,000 Expenses...
-
The United States uses approximately 3.0 trillion kWh of electricity annually. If 20% of this electrical energy were supplied by nuclear generating plants, how much nuclear mass would have to be...
-
E 14-1 Translation/remeasurement differences 1. A German subsidiary of a U.S. firm has the British pound as its functional currency. Under the provisions of ASC Topic 830, the U.S. dollar from the...
-
Refer to the Ludeman Security Systems situation in Exercise 11-9. Suppose that Ludeman Security Systems' lawyers advise that a preliminary judgment of $300,000 has been rendered against the company....
-
The Silver Corporation uses a predetermined overhead rate to apply manufacturing overhead to jobs. The predetermined overhead rate is based on labor cost in Dept. A and on machine-hours in Dept. B....
-
The Stratton Township Park is located on a piece of property that contains two golf courses, a swimming pool, and 800 acres of woods and open spaces. Three years ago, the Stratton Park Department...
-
Selected T accounts for Victoire Esthetics on August 31, 2024, are as follows: Instructions a. Prepare a statement of owners equity for the month ended August 2024. b. Prepare entries to close the...
-
Hahn Consulting Companys general ledger showed $785 in the Supplies account on January 1, 2024. On May 31, 2024, the company paid $3,255 for additional supplies. A count on December 31, 2024, showed...
-
Draw the structures and give the common and systematic names for the seven alkynes with molecular formula C6H10.
-
Question 1 Consider the function g (x) = x-6x+1. The discriminant is [Select] [Select] and therefore the graph has x-intercepts.
-
Han Wu Manufacturing uses a job order cost system and applies overhead to production on the basisof direct labour hours. On January 1, 2023, Job no, 50 was the only job in process. The costs incurred...
-
Mr. A Background Mr. A is a 42-year-old divorced man assessed at intake to a crisis intervention unit. He was brought to the facility by the local law enforcement agency after his father complained...
-
QUESTION 1 The bank reconciliation statement of Honshu Ltd for February 2020 is set out below: 1) Bank reconciliation statement on 29 February 2020: < DR Balance as per bank statement Add:...
-
what do you think is the most important thing that adults can do to facilitate physical and motor development? Why?
-
Refer to the adjusted trial balance in M4-9. Prepare closing journal entries on December 31, 2014. Data from M4-9, Prepare closing journal entries on December 31, 2014. Debit Credit $ 1,230 Cash...
-
Respond to the ethical judgments required based on the following scenarios. Scenario 1. Assume you have collected a sample using MUS and that you have evaluated that sample to calculate a total...
-
On December 31, 2016, Liquorice Treats Limited reported 40,000 common shares issued and a balance in the Common Shares account of $250,000. On April 5, 2017, it reacquired 8,000 of these shares. This...
-
On February 7, 2017, Flathead Corp. had a balance of $315,000 in its Common Shares account and the total number of shares issued was 25,000. On February 8, 2017, Flathead paid $10,000 to reacquire...
-
Olivier Corporation reported the following pre-tax amounts for the year ended August 31, 2017: profit before income tax (on the company's continuing operations), $320,000; loss from operations of...
-
QUESTION 3 A business owns seven flats rented out to staff at R500 per month. All flats were tenanted Ist january 21 months rent was in arrears and as at 31st December 14 months' rent wa Identify the...
-
1. 2. 3. Select the Tables sheet, select cells A6:B10, and create range names using the Create from Selection button [Formulas tab, Defined Names group]. Select cells B1:F2 and click the Name box....
-
Tropical Rainwear issues 3,000 shares of its $18 par value preferred stock for cash at $20 per share. Record the issuance of the preferred shares. (If no entry is required for a particular...
Study smarter with the SolutionInn App