On April 30, 2014 Northstar Corp. showed the following selected adjusted account balances in alphabetical order. a) Use this information to prepare the labilities section of the balance sheet at April 30, 2014. Account Balance (select one) Accounts Receivable, 81.300 Balance Sheet Accumulated Depreciation, Boats 500 select one) Accumulated Depreciation Machinery......... 1.000 Advertising Expense.. 1.500 Boats... 93.900 Depreciation Expense, Boats... 500 Depreciation Expense, Machinery... 1.000 Dividends.... 11.800 Land... 105,700 Long-Term Notes Payable...... 10.900 Machinery... 124.400 Mortgage Payable..... 225,900 Notes Recnivable (due June, 2014) 84 300 Operating Expenses. 7.700 Retained Earrings... 29.700 Salaries Payable 17.300 Sales... 147,000 Share Capital 63.000 Suppliers Expense 3.200 b) Ryan Player, the financial officer of Northstar Corp. is planning an expanding the business and has applied for a $2,000,000 bank loan. Joe Smith, a Chartered Accountant and Certified Fraud Examiner was contracted by the bank to review the financial statements of Northstar Corp. Joe discovered that the balances shown below were included in Sales. He also noted the excerpt from the amortization schedule of the mortgage payable which is shown below. Use this information to prepare a corrected classified balance sheet (including all sections). Please note the accounts have been duplicated from above for convenience and are exactly the same. Account Balance (select one) Accounts Receivable ... 81,300 Balance Sheet Accumulated Depreciation, Boats... 500 select one) Accumulated Depreciation Machinery 1.000 Advertising Expense.... 1,500 x Boats 93.900 Depreciation Expense, Boats...... 500 Depreciation Expense, Machinery 1,000 Dividends.. 11,800 Land. 105,700 Long-Term Notes Payable 10.900 Machinery.... 124.400 Mortgage Payable. 225.900 Notes Receivable (due June, 2014). 64.300 Operating Expenses .. 7.700 Retained Earrings. 29,700 Salaries Payable 17.300 Sales 147,000 Share Capital.. 63.000 Supplies Experise 3.200 Included in Sales: Advance Air Ticket Sales 3.600 Uneamed Accommodation Reservations 18.800 Uneamed Bus Tour Revenue 8.100 Mortgage Amortization Schedule: Year Principal Balance at April 30 2013 301,600 2014 225.900 2015 150,200 2016 74,500 c) Use the above information to answer each of the following questions Total current liabilities, as originally reported, was Select One) by Total long term liabilities, as originally reported. wes (Select One) by On April 30, 2014 Northstar Corp. showed the following selected adjusted account balances in alphabetical order. a) Use this information to prepare the labilities section of the balance sheet at April 30, 2014. Account Balance (select one) Accounts Receivable, 81.300 Balance Sheet Accumulated Depreciation, Boats 500 select one) Accumulated Depreciation Machinery......... 1.000 Advertising Expense.. 1.500 Boats... 93.900 Depreciation Expense, Boats... 500 Depreciation Expense, Machinery... 1.000 Dividends.... 11.800 Land... 105,700 Long-Term Notes Payable...... 10.900 Machinery... 124.400 Mortgage Payable..... 225,900 Notes Recnivable (due June, 2014) 84 300 Operating Expenses. 7.700 Retained Earrings... 29.700 Salaries Payable 17.300 Sales... 147,000 Share Capital 63.000 Suppliers Expense 3.200 b) Ryan Player, the financial officer of Northstar Corp. is planning an expanding the business and has applied for a $2,000,000 bank loan. Joe Smith, a Chartered Accountant and Certified Fraud Examiner was contracted by the bank to review the financial statements of Northstar Corp. Joe discovered that the balances shown below were included in Sales. He also noted the excerpt from the amortization schedule of the mortgage payable which is shown below. Use this information to prepare a corrected classified balance sheet (including all sections). Please note the accounts have been duplicated from above for convenience and are exactly the same. Account Balance (select one) Accounts Receivable ... 81,300 Balance Sheet Accumulated Depreciation, Boats... 500 select one) Accumulated Depreciation Machinery 1.000 Advertising Expense.... 1,500 x Boats 93.900 Depreciation Expense, Boats...... 500 Depreciation Expense, Machinery 1,000 Dividends.. 11,800 Land. 105,700 Long-Term Notes Payable 10.900 Machinery.... 124.400 Mortgage Payable. 225.900 Notes Receivable (due June, 2014). 64.300 Operating Expenses .. 7.700 Retained Earrings. 29,700 Salaries Payable 17.300 Sales 147,000 Share Capital.. 63.000 Supplies Experise 3.200 Included in Sales: Advance Air Ticket Sales 3.600 Uneamed Accommodation Reservations 18.800 Uneamed Bus Tour Revenue 8.100 Mortgage Amortization Schedule: Year Principal Balance at April 30 2013 301,600 2014 225.900 2015 150,200 2016 74,500 c) Use the above information to answer each of the following questions Total current liabilities, as originally reported, was Select One) by Total long term liabilities, as originally reported. wes (Select One) by
