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can you help me solve this, and show all calculations ill greatly appricate it 6 L 8 2 10 1 2 3 4 5 AN
can you help me solve this, and show all calculations ill greatly appricate it
6 L 8 2 10 1 2 3 4 5 AN 6 7 8 9 0 H K Dear Students, you wished for a take home exam and your dream has come truelll Below you will find additional information you might need to complete the assignement for Pumpkin Carriage Company'll Your assignment is due Tuesday night the 9th of November at Midnight, hopefully your assignment will not turn into a pumpkin at that time!!! 1) We sold marketable securities at no gain or loss that had a cost of $10,000 2) Proceeds from the sale of equipment, with a cost of $35,000 3) The Long-term investments that were sold had NO cost basis, ie BV was zero 4) Gain on sale of Discontinued Operations was totally from Operations, NO assets were sold Also on the tab "Trial Balances" are the beginning and ending trial balances for 2021 in alphabetical order, NOT in classification order, or Chart of Accounts order. You will therefore have to figure out where the items go in the requirements below. Between the trial balances and the additional information you are required to do the following: 1) The formal Multi-Step income statement for 2021 2) The formal statement of Retained earnings for 2021 3) The formal Classified Balance Sheet for 2021 4) The formal Statement of Cash Flows for 2021 5) Had (le these do not effect any work above) the company had the following Comprehensive Income items prepare the Schedule of Comprehensive income based upon the income arrived at in 1 above a) Foreign currency translation Loss of $10,000, net of tax b) Cost of Defined Benefits plans is $5,000, net of tax YOU MUST SHOW ALL YOUR WORK AND CALCULATIONS TO GET FULL CREDIT I have set up a discussion board for you to ask questions. YOU CAN ONLY ASK QUESTIONS OF ME, NO ONE ELSE This isnt a group project with ANYONEM Your submission of your Exam on Moodle is a representation to me that you have not cheated in any form or fashion including that you have not had any help or discussed this exam with anyone. Good luck III 2 3 4 7 8 9 0 1 3 4 Mike 2 Pumpkin Carriage Co Adjusted Trial Balance at December 31, 2021 Debit Credit 68,000 95,000 70,000 134,000 15,000 200,000 8,000 160,000 13,000 Account Name 5 Accounts Payable 6 Accounts Receivable 7 Accum Depr - Bldg 8 Accum Depr - Equip 9 Accumulated Other Comprehensive Income 10 Building 11 Cash 12 COGS Raw Material 13 COGS Direct Labor 14 COGS MFO Various Overhead Expenses 15 COGS MFO Depreciation - Bldg 16 COGS MFO Depreciation - Equip 17 Common Stock. $15 Par 18 Current Portion of LTD 19 Dividends 20 Equipment 21 Gain on Sale of Long Term Investments 22 Gain on Discontinued operations 23 Income tax expense on discontinued operations 24 Income tax Expense 25 Income Taxes Payable 26 Interest and Dividend Income 27 Interest Expense 28 Inventory 29 Land 30 Long-term Debt, net 31 Long-term investments 32 Loss of Sale of Equipment 33 Marketable securities 34 Note payable-current 35 OE Various Operating Expense 36 OE Depreciation - Bldg 37 OE Depreciation - Equip 38 Paid in Capital 39 Patents Pumpkin Carriage Co Adjusted Trial Balance at December 31, 2021 Debit Credit 88,000 100,000 90,000 150,000 15,000 200,000 12,000 172,000 135,000 40,000 15,000 15,000 200,000 30,000 20,000 400,000 5,000 20,000 5,000 66,000 18,000 4,000 20,000 60,000 40,000 130,000 50,000 10,000 75,000 40,000 160,000 5,000 5,000 100,000 90,000 300,000 12,000 40,000 40,000 100,000 30,000 50,000 90,000 80,000 50,000 F G Pumpkin Carriage Co Adjusted Trial Balance at December 31, 2021 300,000 12,000 40,000 40,000 Pumpkin Carriage Co Adjusted Trial Balance at December 31, 2021 400,000 5,000 20,000 5,000 66,000 18,000 4,000 20,000 60,000 40,000 130,000 50,000 10,000 75,000 40,000 160,000 5,000 5,000 100,000 90,000 8,000 80,000 26,000 758,000 40,000 3,000 100,000 Equipment Gain on Sale of Long Term Investments Gain on Discontinued operations Income tax expense on discontinued operations Income tax Expense Income Taxes Payable Interest and Dividend Income Interest Expense Inventory Land Long-term Debt, net Long-term investments Loss of Sale of Equipment Marketable securities Note payable - current OE Various Operating Expense OE Depreciation - Bldg OE Depreciation - Equip Paid in Capital Patents Prepaids Retained earnings Salaries Payable Sales Revenue Treasurey Stock Unrealized Loss on Mkt Securities 30,000 50,000 90,000 80,000 50,000 10,000 80,000 16,000 15,000 Total 1,750,000 1,750,000 838,000 838,000 6 L 8 2 10 1 2 3 4 5 AN 6 7 8 9 0 H K Dear Students, you wished for a take home exam and your dream has come truelll Below you will find additional information you might need to complete the assignement for Pumpkin Carriage Company'll Your assignment is due Tuesday night the 9th of November at Midnight, hopefully your assignment will not turn into a pumpkin at that time!!! 1) We sold marketable securities at no gain or loss that had a cost of $10,000 2) Proceeds from the sale of equipment, with a cost of $35,000 3) The Long-term investments that were sold had NO cost basis, ie BV was zero 4) Gain on sale of Discontinued Operations was totally from Operations, NO assets were sold Also on the tab "Trial Balances" are the beginning and ending trial balances for 2021 in alphabetical order, NOT in classification order, or Chart of Accounts order. You will therefore have to figure out where the items go in the requirements below. Between the trial balances and the additional information you are required to do the following: 1) The formal Multi-Step income statement for 2021 2) The formal statement of Retained earnings for 2021 3) The formal Classified Balance Sheet for 2021 4) The formal Statement of Cash Flows for 2021 5) Had (le these do not effect any work above) the company had the following Comprehensive Income items prepare the Schedule of Comprehensive income based upon the income arrived at in 1 above a) Foreign currency translation Loss of $10,000, net of tax b) Cost of Defined Benefits plans is $5,000, net of tax YOU MUST SHOW ALL YOUR WORK AND CALCULATIONS TO GET FULL CREDIT I have set up a discussion board for you to ask questions. YOU CAN ONLY ASK QUESTIONS OF ME, NO ONE ELSE This isnt a group project with ANYONEM Your submission of your Exam on Moodle is a representation to me that you have not cheated in any form or fashion including that you have not had any help or discussed this exam with anyone. Good luck III 2 3 4 7 8 9 0 1 3 4 Mike 2 Pumpkin Carriage Co Adjusted Trial Balance at December 31, 2021 Debit Credit 68,000 95,000 70,000 134,000 15,000 200,000 8,000 160,000 13,000 Account Name 5 Accounts Payable 6 Accounts Receivable 7 Accum Depr - Bldg 8 Accum Depr - Equip 9 Accumulated Other Comprehensive Income 10 Building 11 Cash 12 COGS Raw Material 13 COGS Direct Labor 14 COGS MFO Various Overhead Expenses 15 COGS MFO Depreciation - Bldg 16 COGS MFO Depreciation - Equip 17 Common Stock. $15 Par 18 Current Portion of LTD 19 Dividends 20 Equipment 21 Gain on Sale of Long Term Investments 22 Gain on Discontinued operations 23 Income tax expense on discontinued operations 24 Income tax Expense 25 Income Taxes Payable 26 Interest and Dividend Income 27 Interest Expense 28 Inventory 29 Land 30 Long-term Debt, net 31 Long-term investments 32 Loss of Sale of Equipment 33 Marketable securities 34 Note payable-current 35 OE Various Operating Expense 36 OE Depreciation - Bldg 37 OE Depreciation - Equip 38 Paid in Capital 39 Patents Pumpkin Carriage Co Adjusted Trial Balance at December 31, 2021 Debit Credit 88,000 100,000 90,000 150,000 15,000 200,000 12,000 172,000 135,000 40,000 15,000 15,000 200,000 30,000 20,000 400,000 5,000 20,000 5,000 66,000 18,000 4,000 20,000 60,000 40,000 130,000 50,000 10,000 75,000 40,000 160,000 5,000 5,000 100,000 90,000 300,000 12,000 40,000 40,000 100,000 30,000 50,000 90,000 80,000 50,000 F G Pumpkin Carriage Co Adjusted Trial Balance at December 31, 2021 300,000 12,000 40,000 40,000 Pumpkin Carriage Co Adjusted Trial Balance at December 31, 2021 400,000 5,000 20,000 5,000 66,000 18,000 4,000 20,000 60,000 40,000 130,000 50,000 10,000 75,000 40,000 160,000 5,000 5,000 100,000 90,000 8,000 80,000 26,000 758,000 40,000 3,000 100,000 Equipment Gain on Sale of Long Term Investments Gain on Discontinued operations Income tax expense on discontinued operations Income tax Expense Income Taxes Payable Interest and Dividend Income Interest Expense Inventory Land Long-term Debt, net Long-term investments Loss of Sale of Equipment Marketable securities Note payable - current OE Various Operating Expense OE Depreciation - Bldg OE Depreciation - Equip Paid in Capital Patents Prepaids Retained earnings Salaries Payable Sales Revenue Treasurey Stock Unrealized Loss on Mkt Securities 30,000 50,000 90,000 80,000 50,000 10,000 80,000 16,000 15,000 Total 1,750,000 1,750,000 838,000 838,000 Step by Step Solution
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