Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help me solve this balance sheet and fill in the blanks - C a edugen.wileyplus.com/edugen/Iti/main.uni Exercise 2-5 MileyPLUS Kimmel, Financial Accounting, Be Help |

Please help me solve this balance sheet and fill in the blanks

image text in transcribed
- C a edugen.wileyplus.com/edugen/Iti/main.uni Exercise 2-5 MileyPLUS Kimmel, Financial Accounting, Be Help | System Announcements A edugen. wileyplus.com/edugen/shared/assignment/test/qprint.uni Assets GNMENT icurrent Assets OURCES Exercise 2-5 cash 19,709 ey Plus Ch 2 mework Your answer is partially correct. Try again. Accounts Receivable 10,322 rief Exercise 2-1 These items are taken from the financial statements of Swifty Corporation at December 31, 2017. kercise 2-5 Prepaid Insurance 12,624 xercise 2-12 Buildings $86,756 ractice Question Accounts receivable 10,332 Total Current Assets 22 , 655 Prepaid insurance 2,624 ractice Question Cash 9,709 Equipment 67,568 Property, Plant and Equipment 50,184 Land 150,184 ractice Question Land Insurance expense 640 Buildings $ 86,756 ractice Question Depreciation expense 4,346 Interest expense 2,132 Less, Accumulated Depreciation-Buildings 137,392 149 364 view Score Common stock 19,200 167,568 View Results by Retained earnings (January 1, 2017) 32,801 Equipment udy Objective Accumulated depreciation-buildings 37,392 Less: Accumulated Depreciation-Equipment 115 ,350 752 , 218 104,766 Accounts payable 7,790 Notes payable 76,752 Accumulated depreciation-equipment 15,350 Total Assets 127,421 Interest payable 2,952 Service revenue 12,054 Liabilities and Stockholders' Equity Current Liabilities Prepare a classified balance sheet. Assume that $11,152 of the note payable will be paid in 2018. (List c Accounts Payable $17,790 Swifty Corporation Balance Sheet Notes Payable 76,752 December 31, 2017 Interest Payable 12,952 ssets Total Current Liabilities 87,494 Current Assets Long-Term Liabilities Cash 9,709 Accounts Receivable 10,32 Total Long-Term Liabill Prepaid Insurance 2,624 (Stockholders' Equity Total Current Assets 22 , Common Stock 149,200 Property, Plant and Equipment Retained Earnings 32 ,801 Land 50,184 [Total Stockholders' Equity 32,001 Buildings 86,756 Total Liabilities and Stockholders' Equity Less Accumulated Depreciation-Buildings 37,392 49,364 23 NO MA ... ? W OPEN MacBook Pro

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

Financial Statement Analysis And Security Valuation

Authors: Stephen H Penman

4th Edition

0073379662, 9780073379661

More Books

Students also viewed these Accounting questions