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Hello you helped me out on my last problems and your help was spot on and greatly appreciated. I have three more for you. Thanks again.

image text in transcribed E2-5 Determining Financial Statement Effects of Several Transactions LO2-3 Nike, Inc., with headquarters in Beaverton, Oregon, is one of the world's leading manufacturers of athletic shoes and sports apparel. The following activities occurred during a recent year. The amounts are rounded to millions. a. in Purchased additional buildings for $184 and equipment for $270; paid $402 cash and signed a long-term note for the rest. b. Issued 90 shares of $2 par value common stock for $345 cash. c. Declared $135 in dividends to be paid in the following year. d. Purchased additional short-term investments for $7,816 cash. e. Several Nike investors sold their own stock to other investors on the stock exchange for $86. f. Sold $4,413 in short-term investments for $4,413 in cash. Required: For each of the events (a) through (f), perform transaction analysis and indicate the account, amount, and direction of the effect (+ for increase and - for decrease) on the accounting equation. Check that the accounting equation remains in balance after each transaction. (If no impact on the accounting equation leave cells blank.) Tran sacti Assets on a. 1 2 3 b. 4 5 c. 6 7 d. 8 = Liabilities 1 2 3 4 5 6 7 8 + Stockholders' Equity 1 2 3 4 5 6 7 8 e. f. 9 10 11 12 13 9 10 11 12 13 9 10 11 12 13 1-13 of assets, liabilities and stockholders equality can be filled with anyone from the list below. Accounts payable Accounts receivable Accrued liabilities payable Additional paid-in capital Buildings Cash Common stock Dividends payable Equipment Intangibles Inventories Land Long-term debt Long-term investments Notes payable (long-term) Notes payable (short-term) Notes receivable (long-term) Notes receivable (short-term) Retained earnings Short-term investments Store fixtures E215 Analyzing the Effects of Transactions Using T Accounts, Preparing a Balance Sheet, and Evaluating the Current Ratio over Time as a Bank Loan Officer LO24, 2 5 [The following information applies to the questions displayed below.] Strauderman Delivery Company, Inc., was organized in 2014 in Wisconsin. The following transactio during year 2014: a Received $28,700 cash from organizers in exchange for 12,300 shares of stock (par value of $1.0 . the new company. b Purchased land in Wisconsin for $20,000, signing a oneyear note (ignore interest). . c Bought two used delivery trucks for operating purposes at the start of the year at a cost of $11,00 . $3,000 cash and signed a note due in three years for the rest (ignore interest). d Paid $2,400 cash to a truck repair shop for a new motor for one of the trucks. (Hint: Increase the . used to record the purchase of the trucks since the productive life of the truck has been improved e Sold onefourth of the land for $5,000 to Pablo Development Corporation, which signed a sixmo . f. Stockholder Melissa Strauderman paid $29,200 cash for a vacant lot (land) in Canada for her pers Cash Beg. Bal. (a) 0 28,700 Short-Term Notes Receivabl Beg. Bal. 0 End. Bal. Land Beg. Bal. 28,700 End. Bal. Equipment Beg. Bal. 0 0 End. Bal. End. Bal. Short-Term Notes Payable Beg. Bal. 0 Long-Term Notes Payable Beg. Bal. End. Bal. End. Bal. Common Stock Beg. Bal. Additional Paid-in Capital Beg. Bal. End. Bal. 0 12,300 (a) 12,300 E2-15 Part 2 2. Prepare a trial balance at December 31, 2014. End. Bal. STRAUDERMAN DELIVERY COMPANY, INC. Trial Balance December 31, 2014 Debit 1 2 3 4 5 6 7 8 9 10 Totals Options for 1-10 Accounts payable Accounts receivable Accrued liabilities payable Additional paid-in capital Buildings Cash Common stock Dividends payable 0 Credit $ 0 $ Equipment Intangibles Inventories Land Long-term debt Long-term investments Long-term notes payable Mortgage notes payable Notes payable Notes receivable Notes receivable (long-term) Other current assets Other noncurrent assets Other stockholders' equity items Retained earnings Short-term investments Short-term note receivable Short-term notes payable Store fixtures Current assets: Current liabilities: Total current liabilities 0 Total current assets 0 Total liabilities Non-current assets: Stockholders' Equity Total non-current assets 0 Total 0 Total stockholders' equity Total liabilities and stockholders' equity Options for the balance sheet are above as well 4. At the end of the next two years, Strauderman Delivery Company reported the following amounts on its balance sheets: D Current Assets Long-Term Assets $ 0 De 60,000 45,000 $ 51,000 79,000 0 $ 0 Total Assets 105,000 130,000 20,000 36,000 15,000 20,000 Total Liabilities 35,000 56,000 Stockholder s' Equity 70,000 74,000 Short-Term Notes Payable Long-Term Notes Payable Compute the company's current ratio for 2014, 2015, and 2016. (Round your answers to 2 decimal places.) Current Ratio Year 2014 2015 2016 P22 Determining Financial Statement Effects of Various Transactions LO22, 23, 25 East Hill Home Healthcare Services was organized on January 1, 2014, by four friends. Each organizer invested $10,000 in the company and, in turn, was issued 8,500 shares of $1.00 par value stock. To date, they are the only stockholders. At the end of 2015, the accounting records reflected total assets of $726,000 ($53,000 cash; $515,000 land; $54,000 equipment; and $104,000 buildings), total liabilities of $219,000 (short-term notes payable of $105,000 and long-term notes payable of $114,000), and stockholders' equity of $507,000 ($21,000 of common stock, $84,000 of additional paid-in capital, and $402,000 retained earnings). During the current year, 2016, the following summarized events occurred: a. Sold 11,000 additional shares of stock to the original organizers for a total of $101,000 cash. b. Purchased a building for $60,000, equipment for $19,000, and four acres of land for $21,000; paid $9,000 in cash and signed a note for the balance (due in 15 years). (Hint: Five different accounts are affected.) c. Sold one acre of land acquired in (b) for $5,250 cash to another company. d. Purchased short-term investments for $11,500 cash. e. One stockholder reported to the company that 310 shares of his East Hill stock had been sold and transferred to another stockholder for $3,000 cash. f. Lent one of the shareholders $5,500 for moving costs, receiving a signed six-month note from the shareholder. Required: 1. Was East Hill Home Healthcare Services organized as a sole proprietorship, a partnership, or a corporation? Sole proprietorship Partnership Corporation 2. During 2016, the records of the company were inadequate. You were asked to prepare the summary of the preceding transactions. To develop a quick assessment of their economic effects on East Hill Home Healthcare Services, you have decided to complete the tabulation that follows and to use plus (+) for increases and minus () for decreases for each account. The first event is used as an example. Assets Cash B e g . ( a ) ( b ) ( c ) ( d ) ( e ) 53,00 0 101,0 00 = Liabilities Short Term Inves tmen ts Note s Rec Land eiva ble 515,00 0 Equi Buildin pme gs nt 104,00 0 54,0 00 ShortTerm Notes Payabl e 105,000 + Stockholders' Equity Additi Longonal Retai Term Comm Paid- ned Notes on in Earni Payab Stock Capit ngs le al 114,0 00 21,000 84,00 0 11,000 90,00 0 402,0 00 B e g . ( a ) ( b ) ( c ) ( d ) ( e ) (f ) (f ) 154,0 00 0 0 515,00 0 104,00 0 54,0 00 = 105,000 114,0 00 + 32,000 Please fill in B threw F Based only on the completed tabulation, provide the following amounts: a. b. c. d. e. Total assets at the end of the year. Total liabilities at the end of the year. Total stockholders' equity at the end of the year. Cash balance at the end of the year. Total current assets at the end of the year. 5. Compute the current ratio for 2016. (Round your answer to 2 decimal places.) Current Ratio 174,0 00 402,0 00

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