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I cant post each section as a question because I need to verify the answers first before going on. I have parts of the answers

I cant post each section as a question because I need to verify the answers first before going on. I have parts of the answers but am very stuck and would appreciate some help. I know its very long but I would greatly appreciate it!!

Quigley Corporations trial balance at December 31, 2017, is presented below. All 2017 transactions have been recorded except for the items described below.

Debit

Credit

Cash

$27,500

Accounts Receivable

59,000

Inventory

23,400

Land

64,700

Buildings

93,600

Equipment

33,000

Allowance for Doubtful Accounts

$430

Accumulated DepreciationBuildings

29,500

Accumulated DepreciationEquipment

13,400

Accounts Payable

19,400

Interest Payable

0

Dividends Payable

0

Unearned Rent Revenue

8,800

Bonds Payable (10%)

44,000

Common Stock ($10 par)

34,000

Paid-in Capital in Excess of ParCommon Stock

6,800

Preferred Stock ($20 par)

0

Paid-in Capital in Excess of ParPreferred Stock

0

Retained Earnings

73,870

Treasury Stock

0

Cash Dividends

0

Sales Revenue

565,000

Rent Revenue

0

Bad Debt Expense

0

Interest Expense

0

Cost of Goods Sold

391,000

Depreciation Expense

0

Other Operating Expenses

38,600

Salaries and Wages Expense

64,400

Total

$795,200

$795,200

Unrecorded transactions and adjustments:

1.

On January 1, 2017, Quigley issued 1,000 shares of $20 par, 6% preferred stock for $21,000.

2.

On January 1, 2017, Quigley also issued 1,100 shares of common stock for $26,400.

3.

Quigley reacquired 250 shares of its common stock on July 1, 2017, for $46 per share.

4.

On December 31, 2017, Quigley declared the annual cash dividend on the preferred stock and a $1.30 per share dividend on the outstanding common stock, all payable on January 15, 2018.

5.

Quigley estimates that uncollectible accounts receivable at year-end is $5,900.

6.

The building is being depreciated using the straight-line method over 30 years. The salvage value is $5,100.

7.

The equipment is being depreciated using the straight-line method over 10 years. The salvage value is $3,300.

8.

The unearned rent was collected on October 1, 2017. It was receipt of 4 months rent in advance (October 1, 2017 through January 31, 2018).

9.

The 10% bonds payable pay interest every January 1. The interest for the 12 months ended December 31, 2017, has not been paid or recorded.

No. Account Titles and Explanation Debit Credit

1.___________________________

_____________________________

_____________________________

2. ___________________________

_____________________________

_____________________________

3. ____________________________

______________________________

4. ____________________________

______________________________

5. ____________________________

______________________________

6. ____________________________

______________________________

7. ____________________________

______________________________

8. ____________________________

______________________________

9. ____________________________

______________________________

Prepare an updated December 31, 2017, trial balance, reflecting the journal entries in part(a).

QUIGLEY CORPORATION

Trail Balance

For the Month Ended December 31, 2017For the Year Ended December 31, 2017December 31, 2017

Debit Credit

1.

2.

3.

4.

5.

6.

7.

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

__________________________________________

Prepare a multiple-step income statement for the year ending December 31, 2017.

Prepare a retained earnings statement for the year ending December 31, 2017.

Prepare a classified balance sheet as of December 31, 2017

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