Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Based on the following data, what are total assets? Accounts payable Accounts receivable Cash Inventory Buildings Bonds payable Supplies Notes payable Equipment $86000 66000 87000

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Based on the following data, what are total assets? Accounts payable Accounts receivable Cash Inventory Buildings Bonds payable Supplies Notes payable Equipment $86000 66000 87000 148000 154000 513000 8300 66000 361000 $750000 $890300 $816000 $824300 Concord Corporation compiled the following financial information as of December 31, 2022: Service revenue Common stock Equipment Salaries and wages expense Rent expense Depreciation expense Cash Dividends Supplies Accounts payable Accounts receivable Retained earnings, 1/1/22 $1144000 240000 313000 377200 94300 471500 285000 83000 39000 156000 120500 586000 Concord's total stockholders' equity at December 31, 2022 is: $1027000 $944000. $905000. $704000. Waterway Industries compiled the following financial information as of December 31, 2022: Service revenue Common stock Equipment Operating expenses Cash Dividends Supplies Accounts payable Accounts receivable Retained earnings, 1/1/22 $834000 196000 246000 745000 216000 65000 33000 113000 92500 439000 Waterway's assets on December 31, 2022 are: $587500 $1427500. $1037500. O $492000. Concord Corporation compiled the following financial information as of December 31, 2022: Service revenue Common stock Equipment Operating expenses Cash Dividends Supplies Accounts payable Accounts receivable Retained earnings, 1/1/22 $840000 175000 248000 742000 210000 56000 33000 105000 91000 434000 Concord's retained earnings on December 31, 2022 are: $434000. O $543000. O $476000. O $33000. Waterway Industries started the month of June 2022 with total assets of $223000 and total liabilities of $118000. During June, the business recorded $329000 in revenues, $162000 in expenses, and dividends of $56000. Stockholders' equity at the end of June was $201000 $216000 O $162000. $126000 View Policies Current Attempt in Progress Metlock, Inc. started the year with total assets of $308000 and total liabilities of $248000, During the year the business recorded $630000 in revenues, $333000 in expenses, and dividends of $63000. Stockholders' equity at the end of the year was $264000 $357000 $231000 $294000 During September 2022, Sandhill Diner's total liabilities decreased by $57000 and its stockholders' equity increased by $14000 The company's total assets must change by what amount and in what direction during that same period? $43000 decrease O $71000 increase $43000 increase $57000 increase Bonita Industries started the month of June 2022 with total assets of $212000 and total liabilities of $122000. During June, the business recorded $326000 in revenues. $158000 in expenses, and dividends of $54000. The net income reported by Bonita Industries for the month of June was $122000. $168000 O $158000. $188000. Blossom Company had the following accounts and balances: Accounts payable Accounts receivable Buildings $31200 4900 ? $34800 34800 10400 Equipment Land Unearned service revenue Total stockholders equity Cash 15150 ? If the balance of the Buildings account was $81500, what would be the total of liabilities and stockholders' equity? O $171150 $129550 $119150 O $166250

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

1. Make sure materials are easy to reach and visible to students.

Answered: 1 week ago

Question

14.5 Describe how accidents at work can be prevented.

Answered: 1 week ago