Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Foley Mountain Company Trial Balance 11/30/17 Dr Cr Cash 112,000 Accounts Receivable Allowance for Doubtful Accounts Short Term Note Receivable 127,000 1,000 50,000 Supplies

image text in transcribedimage text in transcribed

Foley Mountain Company Trial Balance 11/30/17 Dr Cr Cash 112,000 Accounts Receivable Allowance for Doubtful Accounts Short Term Note Receivable 127,000 1,000 50,000 Supplies 65,000 Inventory 62,000 Equipment 75,000 Building 0 Accumulated Depreciation 32,000 Copyright 106,000 Accounts Payable 12,000 Dividends Payable Interest Payable Unearned Revenue ST Note Payable LT Mortgage Payable Bonds Payable Premium on Bonds Payable Common Stock-$1.75 par Paid In Capital In Excess of Par-CS Preferred Stock-$5 par Paid In Capital In Excess of Par - PS 0 0 22,000 45,000 0 125,000 16,840 175,000 86,000 1,000 50,000 Dividends Treasury Stock Retained Earnings Sales Revenue Sales Returns & Allowances Sales Discounts Cost of Goods Sold 0 3,500 2,000 480,160 10,000 3,000 46,000 Bad Debts Expense Depreciation Expense Wages Expense Rent Expense Insurance Expense Supplies Expense 30,000 26,000 160,000 98,000 25,000 16,000 Interest Revenue 1,000 Interest Expense 6,500 Gain on Sale of Equipment 15,000 Income Tax Expense 46,000 Total 1,065,500 1,065,500

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

Step: 3

blur-text-image

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

Fraud Examination

Authors: W. Steve Albrecht, Chad O. Albrecht, Conan C. Albrecht, Mark F. Zimbelman

5th edition

1305079140, 978-1305079144

More Books

Students also viewed these Accounting questions

Question

Review major psychological issues of childhood.

Answered: 1 week ago

Question

Bir iletim kulesi adet destek teli ile

Answered: 1 week ago

Question

Describe the features of long-term care insurance

Answered: 1 week ago