{
    "key_pair_value_system": true,
    "answer_rating_count": "",
    "question_feedback_html": {
        "html_star": "",
        "html_star_feedback": ""
    },
    "answer_average_rating_value": "",
    "answer_date_js": "2024-06-28T04:34:09-04:00",
    "answer_date": "2024-06-28 04:34:09",
    "is_docs_available": null,
    "is_excel_available": null,
    "is_pdf_available": null,
    "count_file_available": 0,
    "main_page": "student_question_view",
    "question_id": "4238502",
    "url": "\/study-help\/questions\/additional-information-added-in-module-2-one-client-indicated-that-4238502",
    "question_creation_date_js": "2024-06-28T04:34:09-04:00",
    "question_creation_date": "Jun 28, 2024 04:34 AM",
    "meta_title": "[Solved] Additional information added in Module 2 | SolutionInn",
    "meta_description": "Answer of - Additional information added in Module 2 One client indicated that they were interested in purchasing $42,500 worth of | SolutionInn",
    "meta_keywords": "additional,information,added,module,2,one,client,interested,purchasing,$42,500,worth,products",
    "question_title_h1": "Additional information added in Module 2 One client indicated that they were interested in purchasing $42,500 worth of products. However, the client has not actually",
    "question_title": "Additional information added in Module 2 One client indicated that they were",
    "question_title_for_js_snippet": "Additional information added in Module 2 One client indicated that they were interested in purchasing $42,500 worth of products  However, the client has not actually committed to the purchase  The bookkeeper already corrected the sales account  However, the bookkeeper may have made a mistake when computing cost of goods sold  She included total production costs for 2014 and did not adjust ending inventory for the $42,500 worth of units left at the end of the year  The amount of ending inventory was determined using a physical count  Additional information for Module 3 The company made a secondary offering of stock and raised an additional $180,000 which includes $150,000 of Paid in Capital  The company had already paid $15,000 in dividends before deciding on the offering  The company now has cash to invest in a piece of raw land on which to build in the future  The investment takes place before year end  The cost of the land is $400,000, the down payment is $40,000 and a note to the bank covers the rest  Nybrostrand Company 31 Dec 14 Trial Balance (accounts in alphabetical order) Debit Credit Accounts payable $ 78,000 Accounts receivable $ 36,500 Cash 30,000 Common stock 10,000 Depreciation expense 24,350 Cost of goods sold 307,000 Equipment (net of depreciation) 415,000 Insurance 1,400 Inventory 34,000 Long term debt 127,000 Marketing 4,500 Paid in capital 50,000 Property taxes 16,900 Rent 28,000 Retained earnings   Revenues 586,000 Salaries 78,500 Utilities 6,700 Total 982,850 982,850 SLP Assignment Expectations Prepare a balance sheet for the company in good format  Include the name of the company Date Line up numbers (right justify) Underline subtotals and totals Do not abbreviate name of accounts Excel is recommened   Update the balance sheet for the changes to income in Module 2 and also consider the effect of paying the dividend  You do not need to include the income statement  The submission should be 2  to 4 pages and need to include answers to all the questions listed above  Show computations, discuss the results, and include references in APA format ",
    "question_description": "<p>Additional information added in Module 2<\/p> <ul> <li>One client indicated that they were interested in purchasing $42,500 worth of products. However, the client has not actually committed to the purchase.<\/li> <li>The bookkeeper already corrected the sales account. However, the bookkeeper may have made a mistake when computing cost of goods sold. She included total production costs for 2014 and did not adjust ending inventory for the $42,500 worth of units left at the end of the year. The amount of ending inventory was determined using a physical count.<\/li> <\/ul> <p>Additional information for Module 3<\/p> <ul> <li>The company made a secondary offering of stock and raised an additional $180,000 which includes $150,000 of Paid-in Capital.<\/li> <li>The company had already paid $15,000 in dividends before deciding on the offering.<\/li> <li>The company now has cash to invest in a piece of raw land on which to build in the future. The investment takes place before year end. The cost of the land is $400,000, the down payment is $40,000 and a note to the bank covers the rest.<\/li> <\/ul> <table><tbody> <tr><td> <p>Nybrostrand Company<\/p> <\/td><\/tr> <tr><td> <p>31-Dec-14<\/p> <\/td><\/tr> <tr><td> <p>Trial Balance  (accounts in alphabetical order)<\/p> <\/td><\/tr> <tr> <td> <p>Debit<\/p> <\/td> <td> <p>Credit<\/p> <\/td> <\/tr> <tr> <td> <p>Accounts payable<\/p> <\/td> <td> <p>$ 78,000<\/p> <\/td> <\/tr> <tr> <td> <p>Accounts receivable<\/p> <\/td> <td> <p>$ 36,500<\/p> <\/td> <\/tr> <tr> <td> <p>Cash<\/p> <\/td> <td> <p>30,000<\/p> <\/td> <\/tr> <tr> <td> <p>Common stock<\/p> <\/td> <td> <p>10,000<\/p> <\/td> <\/tr> <tr> <td> <p>Depreciation expense<\/p> <\/td> <td> <p>24,350<\/p> <\/td> <\/tr> <tr> <td> <p>Cost of goods sold<\/p> <\/td> <td> <p>307,000<\/p> <\/td> <\/tr> <tr> <td> <p>Equipment (net of  depreciation)<\/p> <\/td> <td> <p>415,000<\/p> <\/td> <\/tr> <tr> <td> <p>Insurance<\/p> <\/td> <td> <p>1,400<\/p> <\/td> <\/tr> <tr> <td> <p>Inventory<\/p> <\/td> <td> <p>34,000<\/p> <\/td> <\/tr> <tr> <td> <p>Long-term debt<\/p> <\/td> <td> <p>127,000<\/p> <\/td> <\/tr> <tr> <td> <p>Marketing<\/p> <\/td> <td> <p>4,500<\/p> <\/td> <\/tr> <tr> <td> <p>Paid-in capital<\/p> <\/td> <td> <p>50,000<\/p> <\/td> <\/tr> <tr> <td> <p>Property taxes<\/p> <\/td> <td> <p>16,900<\/p> <\/td> <\/tr> <tr> <td> <p>Rent<\/p> <\/td> <td> <p>28,000<\/p> <\/td> <\/tr> <tr> <td> <p>Retained earnings<\/p> <\/td> <td> <p>?<\/p> <\/td> <\/tr> <tr> <td> <p>Revenues<\/p> <\/td> <td> <p>586,000<\/p> <\/td> <\/tr> <tr> <td> <p>Salaries<\/p> <\/td> <td> <p>78,500<\/p> <\/td> <\/tr> <tr> <td> <p>Utilities<\/p> <\/td> <td> <p>6,700<\/p> <\/td> <\/tr> <tr> <td> <p>Total<\/p> <\/td> <td> <p>982,850<\/p> <\/td> <td> <p>982,850<\/p> <\/td> <\/tr> <\/tbody><\/table> <p>SLP Assignment Expectations<\/p> <p>Prepare a balance sheet for the company in good format:<\/p> <ul> <li>Include the name of the company<\/li> <li>Date<\/li> <li>Line up numbers (right-justify)<\/li> <li>Underline subtotals and totals<\/li> <li>Do not abbreviate name of accounts<\/li> <li>Excel is recommened<\/li> <\/ul> <p>. Update the balance sheet for the changes to income in Module 2 and also consider the effect of paying the dividend. You do not need to include the income statement.<\/p> <p>The submission should be 2- to 4-pages and need to include answers to all the questions listed above. Show computations, discuss the results, and include references in APA format.<\/p>",
    "transcribed_text": "",
    "related_book": {
        "title": "Income Tax Fundamentals 2013",
        "isbn": "1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516",
        "edition": "31st Edition",
        "authors": "Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill",
        "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1124.jpg",
        "uri": "\/textbooks\/income-tax-fundamentals-2013-31st-edition-9781285586618",
        "see_more_uri": ""
    },
    "free_related_book": {
        "isbn": "1493023799",
        "uri": "\/textbooks\/stones-and-bones-of-new-england-a-guide-to-unusual-historic-and-otherwise-notable-cemeteries-2nd-edition-978-1493023790-262119",
        "name": "Stones And Bones Of New England A Guide To Unusual Historic And Otherwise Notable Cemeteries",
        "edition": "2nd Edition"
    },
    "question_posted": "2024-06-28 04:34:09",
    "see_more_questions_link": "\/study-help\/questions\/business-business-communication-2023-February-20",
    "step_by_step_answer": "The Answer is in the image, click to view ...",
    "students_also_viewed": [
        {
            "url": "\/suppose-average-costs-were-used-in-a-cvp-analysis-instead",
            "description": "Suppose average costs were used in a CVP analysis instead of fixed costs and variable costs. Explain the circumstances in which costs would be overestimated or underestimated.",
            "stars": 3
        },
        {
            "url": "\/study-help\/industrial-organizational-psychology-understanding-the-workplace\/discuss-how-investment-advisors-can-help-their-behavioral-clients-1983769",
            "description": "Discuss how investment advisors can help their behavioral clients.",
            "stars": 3
        },
        {
            "url": "\/journal-entries-related-to-the-income-statement-toyota-motor-company",
            "description": "Journal entries related to the income statement. Toyota Motor Company (Toyota), the Japanese car manufacturer, reported Sales of Products of 22,670 billion for the year ended March 31, 2007. The Cost...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/5195-similar-to-dunst-corp-is-considering-the-use-9845931",
            "description": "% 519-5 (similar to) Dunst Corp. is considering the use of activity-based costing. The following information is provided for the production of two product lines: Click the icon to view the...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/ticker-services-began-operations-in-year-1-and-holds-longterm-642901",
            "description": "Ticker Services began operations in Year 1 and holds long-term investments in available-for-sale debt securities. The year-end costs and fair values for its portfolio of these investments follow....",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/28-yakuza-company-issued-2500-share-of-p25-par-value-1193449",
            "description": "28. Yakuza Company issued 2,500 share of P25 par value preference shares with detachable warrants. The security package sells for P105. Each warrant enables the holder to purchase two shares of P10...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/good-vibes-manufacturing-is-a-firm-with-an-annual-net-1109319",
            "description": "Good Vibes Manufacturing is a firm with an annual net income of $20 million, revenue of $60 million and cost of goods sold of $25 million. If the balance sheet amounts show $2.5 million of inventory...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/a-random-sample-of-45-burger-king-whoppers-found-a-1145572",
            "description": "A random sample of 45 Burger King Whoppers found a sample mean weight of 120g and a sample standard deviation of 15g. Find the 90% confidence interval of the true mean weight of a Whopper. Write your...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/ignoring-gst-which-of-the-following-entries-correctly-records-the-5148425",
            "description": "Ignoring GST, which of the following entries correctly records the purchase of land for $300 000 financed by a $100 000 cash deposit with the balance payable via a 20-year, 6% loan? Select one: a. DR...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/sizwe-conditioners-a-manufacturing-firm-based-in-gauteng-makes-three-5323678",
            "description": "Sizwe conditioners a manufacturing firm based in Gauteng makes three different types of air conditioners: the ceiling type, the cassette type and the wall mounted type. Weekly sales of each type are...",
            "stars": 3
        }
    ],
    "next_back_navigation": {
        "previous": "\/study-help\/questions\/on-january-1-2020-mcdavid-company-mcdavid-acquired-a-60-4238501",
        "next": "\/study-help\/questions\/financial-information-is-presented-below-operating-expenses-28000-net-4238503"
    },
    "breadcrumbs": [
        {
            "name": "Study help",
            "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers"
        },
        {
            "name": "Business",
            "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business"
        },
        {
            "name": "Accounting",
            "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting"
        },
        {
            "name": "Additional information added in Module 2 One client indicated that they were",
            "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/additional-information-added-in-module-2-one-client-indicated-that-4238502"
        }
    ],
    "skill_details": {
        "skill_id": "9",
        "skill_name": "Accounting",
        "parent_id": "1"
    }
}}