Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Accounting Exam - Part 3. There are 5 questions. Please help me as this is due by 10PM tonight U.S. Pacific Time. ===================================================================== Question 11
Accounting Exam - Part 3. There are 5 questions. Please help me as this is due by 10PM tonight U.S. Pacific Time.
===================================================================== Question 11 Included in Splish Company's December 31, 2017, trial balance are the following accounts: Accounts Payable $238,700, Pension Liability $375,700, Discount on Bonds Payable $32,900, Unearned Rent Revenue $48,000, Bonds Payable $406,900, Salaries and Wages Payable $37,000, Interest Payable $16,010, and Income Taxes Payable $33,280. Prepare the current liabilities section of the balance sheet. SPLISH COMPANY Balance Sheet (Partial) $ $ Question 12 Included in Oriole Company's December 31, 2017, trial balance are the following accounts: Accounts Payable $248,900, Pension Liability $382,700, Discount on Bonds Payable $29,800, Unearned Rent Revenue $47,000, Bonds Payable $405,800, Salaries and Wages Payable $36,000, Interest Payable $14,470, and Income Taxes Payable $34,500. Prepare the long-term liabilities section of the balance sheet. ORIOLE COMPANY Balance Sheet (Partial) $ $ : $ ===================================================================== Question 13 Pina Company reported 2017 net income of $152,900. During 2017, accounts receivable increased by $17,160 and accounts payable increased by $9,582. Depreciation expense was $48,000. Prepare the cash flows from operating activities section of the statement of cash flows. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) PINA COMPANY Cash Flow Statement $ Adjustments to reconcile net income to $ $ ===================================================================== Question 14 Stellar Corporation engaged in the following cash transactions during 2017. Sale of land and building $200,900 Purchase of treasury stock 42,400 Purchase of land 39,900 Payment of cash dividend 91,900 Purchase of equipment 55,300 Issuance of common stock 150,200 Retirement of bonds 103,200 Compute the net cash provided (used) by investing activities. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) STELLAR CORPORATION Statement of Cash Flows (Partial) $ $ ===================================================================== Question 15 Cullumber Corporation engaged in the following cash transactions during 2017. Sale of land and building $182,510 Purchase of treasury stock 41,300 Purchase of land 39,300 Payment of cash dividend 94,500 Purchase of equipment 53,700 Issuance of common stock 151,800 Retirement of bonds 108,000 Compute the net cash used (provided) by financing activities. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) CULLUMBER CORPORATION Statement of Cash Flows (Partial) $ $ =====================================================================Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started