Prepare the shareholders equity section of the balance sheet. Use the following information:Tidrick Manufacturing Company has just
Question:
Prepare the shareholders’ equity section of the balance sheet.
Use the following information:Tidrick Manufacturing Company has just completed its first year of operation on December 31, 2019. It has the following accounts in the general ledger. The bookkeeper is unsure which accounts to show on the balance sheet and which accounts to report on the income statement. All amounts are in thousands of dollars
Transcribed Image Text:
$ 6,316 $ 580 $ 362 Paid-in Capital in Excess of Par-Common Stock $ 3,234 Allowance for Uncollectible Accounts $ Accounts Payable Accumulated Depreciation, Building Accumulated Depreciation, Machinery Bonds Payable Building Cash Common Stock Copyright Cost of Goods Sold Deferred Income Taxes Payable Discount on Bonds Payable Dividends Payable Finished Goods Inventory Income Tax Expense Income Taxes Payable Insurance Expense Interest Expense Land Land Held for Speculation Machinery Notes Payable due in 90 Days Notes Payable due in 10 years Preferred Stock Prepaid Insurance Prepaid Rent Purchase Discounts Raw Materials Inventory Rent Expense Retained Earnings Sales Sales Discounts Sales Returns and Allowances Selling and Administrative Expenses Supplies Trading Securities Wages Payable Work-in-Process Inventory 45 $ 1,580 $ 3,340 $ 4.317 $ 30 391 $33,892 $ in in $ SSSSS $ $ $ 30 75 130 30 $ 1,079 $ 1,300 $ 400 $ 308 $ 2,510 $ 2,500 $ 1,879 $ 1,570 $ 2,600 $ 20 $ 500 $ 941 $ 180 $ 87 $ 600 $ 3,996 $43,068 $ 1,414 $ 210 $ 2,700 $ 78 $ 835 $ 580 $ 210
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 44% (9 reviews)
Tidrick Manufacturing Company Balance Sheet as of December ...View the full answer
Answered By
Aketch Cindy Sunday
I am a certified tutor with over two years of experience tutoring . I have a passion for helping students learn and grow, and I firmly believe that every student has the potential to be successful. I have a wide range of experience working with students of all ages and abilities, and I am confident that I can help students succeed in school.
I have experience working with students who have a wide range of abilities. I have also worked with gifted and talented students, and I am familiar with a variety of enrichment and acceleration strategies.
I am a patient and supportive tutor who is dedicated to helping my students reach their full potential. Thank you for your time and consideration.
0.00
0 Reviews
10+ Question Solved
Related Book For
Introduction To AccountingAn Integrated Approach
ISBN: 9781119600107
8th Edition
Authors: Penne Ainsworth, Dan Deines
Question Posted:
Students also viewed these Business questions
-
Prepare the statement of shareholders equity. Use the following information: Tidrick Manufacturing Company has just completed its first year of operation on December 31, 2019. It has the following...
-
Prepare the balance sheet. Use the following information: Tidrick Manufacturing Company has just completed its first year of operation on December 31, 2019. It has the following accounts in the...
-
Prepare the long- term asset section of the balance sheet. Use the following information: Tidrick Manufacturing Company has just completed its first year of operation. It has the following accounts...
-
QUESTION 2 A non-symmetrical rigid jointed portal frame ABCD is fixed at A and D. It carries a trapezoidal distributed load acts along beam BC as illustrated in Figure Q2. The frame was constructed...
-
A common fallacy in stock market investing is assuming that a good company makes a good investment. Suppose we define a good company as one that has experienced rapid growth (in sales, earnings, or...
-
On May 1, 2015, Zoe Inc. purchased Branta Corp. for $15,000,000 in cash. They only received $12,000,000 in net assets. In 2016, the market value of the goodwill obtained from Branta Corp. was valued...
-
Sampras Sporting Goods Company manufactures two types of tennis rackets, the Junior and Pro-Striker models. The production budget for November for the two rackets is as follows: Junior Pro-Striker...
-
Lauprechta Inc. has the following employees on payroll: Complete the table for taxes to be withhold for each pay period. Withholding Semimonthly Pavroll S4,800 7,250 $2,800 S3,600 Marital Status...
-
claire and lucy decide to organize their business pinkco as a c corporation. Claire distribures inventory (fmv $28,000, basis, $21,000), equipment (FMV $51,000, basis 0) and cash ($41,000). Pinkco....
-
You have just been hired as a brand manager at Kelsey-White, an American multinational consumer goods company. Recently the firm invested in the development of K-W Vision, a series of systems and...
-
Hendricks, Inc., has an ending balance in retained earnings on December 31, 2019, of $567,432. During 2019 it had declared dividends of $100,000 and incurred a net loss of $246,700. What was the...
-
Explain the format of the retained earnings portion of the statement of shareholders equity.
-
The density of water is 0.9982 g/cm 3 at 20 C. Express the density of water at 20 C in the following units: (a) g/L; (b) kg/m 3 ; (c) kg/km 3 .
-
The campus food service would like to determine how many people eat in the student cafeteria. List the ways in which this information could be obtained. Which method is best?
-
What is the meaning of probable cause?
-
If so, is it similar to one of the three formats illustrated in this chapter? If not, how is it different?
-
Is jury nullification always a bad thing? When might it be a correct outcome?
-
If a jury serves as the conscience of the community, what can jurors do if they feel that applying the law would bring about injustice? Should they simply disregard the law and vote based on their...
-
Propane and methane are commonly used for heating in winter, and the leakage of these fuels, even for short periods, poses a fire danger for homes. Which gas leakage do you think poses a greater risk...
-
Don Griffin worked as an accountant at a local accounting firm for five years after graduating from university. Recently, he opened his own accounting practice, which he operates as a corporation....
-
The Internal Revenue Code is the most authoritative source of income tax law. In trying to resolve an income tax question, however, a tax researcher also consults administrative rulings (Income Tax...
-
Congressional committee reports are an important source of information concerning the legislative enactment of tax law. a. Name the three Congressional committee reports that are issued in connection...
-
What is the primary service function provided by the National Office of the IRS?
-
The _______ used in systematic sampling is computed by dividing the population list size by the sample size. Question 17 options: skip interval containing error representative data master list
-
Explain this part and the most important part to be explained in depth regarding the interest rate equating level of savings to level of borrowing
-
Your filing status is married filing jointly. Your deductible expenditures are $9600 for interest on a home mortgage, $2700 for contributions to charity, and $2645 for state and local taxes. Decide...
Study smarter with the SolutionInn App